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January 17, 2017 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
Inside this issue
NADA's Welch: Seize the Political Opportunity
General Motors Says to Invest Additional $1 Billion in U.S.
Hyundai-Kia to Invest $3.1 Billion in U.S., Mull New Plant
Trump: German Automakers Will Pay Tariff on Cars Built Outside U.S.
EPA Backs Fuel Economy Target, But Now It Faces Trump
Keith Crain: At Detroit Show, Something for Everyone
Top Stories
NADA's Welch: Seize the Political Opportunity

NADA exec: Dealers must fight rising prices

National Automobile Dealers Association President and CEO Peter Welch said it is critical to take advantage of a Republican-led government to reduce government regulations and keep annual new-vehicle sales growing. Welch, speaking at the Automotive News World Congress last week, predicted annual U.S. new-vehicle sales will be between 16 million and 18 million for the next few years. But, he warned, "there will be serious challenges to all of us" to keep sales strong. One is the potential for rising prices, which would put vehicle ownership out of reach for many Americans, he said.
Source: Automotive News

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General Motors Says to Invest Additional $1 Billion in U.S.

General Motors Co. said on Tuesday it would invest an additional $1 billion in its U.S. factories, moving some production from Mexico. The investments are in addition to the $2.9 billion the automaker announced last year, GM said. GM and other automakers have been criticized by U.S. President-elect Donald Trump for building vehicles in Mexico that are imported into the United States.
Source: Reuters

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Hyundai-Kia to Invest $3.1 Billion in U.S., Mull New Plant

Hyundai Motor Co. and affiliate Kia Motors Corp. said they will spend $3.1 billion in the U.S. in the next five years, joining other vehicle manufacturers in announcing investment plans amid threats from President-elect Donald Trump of higher levies on auto imports from Mexico. The planned U.S. investment by South Korea’s two largest automakers is about 50 percent more than the  $2.1 billion they spent in the previous five-year period, Hyundai Motor President Chung Jin-haeng told reporters in Seoul on Tuesday.
Source: Bloomberg

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Trump: German Automakers Will Pay Tariff on Cars Built Outside U.S.

President-elect Donald Trump threatened German automakers with a hefty import tax if they plan to sell cars in the United States that were built in other countries, repeating a claim that has shaken the global automotive industry and its biggest players at home and abroad. The latest promise to impose tariffs on imported cars was made to the German newspaper Bild. In a translated interview, the newspaper quoted Trump as saying: “If you want to build cars in the world, then I wish you all the best. You can build cars for the United States, but for every car that comes to the USA, you will pay 35 percent tax.”
Source: The Washington Post

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EPA Backs Fuel Economy Target, But Now It Faces Trump

The Environmental Protection Agency left stricter automotive fuel economy regulations in place for 2022 to 2025, drawing criticism from the automotive industry and praise from environmental groups. But the real test may come when the incoming Trump Administration decides whether to reduce the standards in keeping with its pledge to reduce government regulation. "The Obama administration today just made new cars and trucks thousands of dollars more expensive for America’s working men and women," the National Automobile Dealers Association said in a statement. "We urge the incoming Trump administration to withdraw today’s action."
Source: Detroit Free Press/USA Today

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Keith Crain: At Detroit Show, Something for Everyone

The consumer has spoken, and the auto industry has responded. Americans want SUVs and crossovers, and you'll see them at the North American International Auto Show in Detroit. Lots of them: Big ones, small ones, whatever size or shape you like.
Source: Automotive News

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Past Articles
       
      Quotable
      "Over the past 20 years, the single biggest driver of vehicle price increases has been government regulations and mandates."

          -- NADA President and CEO Peter Welch, in remarks at Automotive News World Congress in Detroit last week, Automotive News, Jan. 17

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