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February 7, 2017 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
Inside this issue
GM Posts $9.43 Billion in Net Profits for '16
CDK, Reynolds Sued Over Access to DMS Data
GM Financial to See 1 Million Off-Lease Units in Next 3 Years
Your Car Could Cost Up to $17,000 More with the Proposed Border Tax
Honda, Hitachi Automotive to Develop, Make Electric Vehicles
Automakers Have Strong Super Bowl Ad Showing
Top Stories
GM Posts $9.43 Billion in Net Profits for '16

General Motors Co. said Tuesday its net income last year fell less than 3 percent to $9.43 billion, though the company posted several yearly records including pre-tax adjusted earnings of $12.9 billion. "By almost any measure, 2016 was a great year for our business and I am confident we can achieve even stronger results," GM Chairman and CEO Mary Barra said in a statement. “We’ll work to build on our momentum, while continuing to drive our company to innovate and shape the future of mobility.”
Source: The Detroit News

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CDK, Reynolds Sued Over Access to DMS Data

Motor Vehicle Software Corp., an electronic vehicle registration and titling services vendor, has filed an antitrust lawsuit against CDK Global Inc., Reynolds and Reynolds Co. and their joint company Computerized Vehicle Registration Inc., MVSC said Monday. The complaint, filed in federal court in Los Angeles on Friday, says that CDK and Reynolds are illegally blocking MVSC from joining their data access programs, which would grant MVSC access to data from dealership management systems.
Source: Automotive News

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GM Financial to See 1 Million Off-Lease Units in Next 3 Years

There will likely be a record 3.6 million off-lease vehicles this year, according to Manheim’s 2017 Used Car Market Report. “And that’s not even close to the peak,” Cox Automotive Inventory Solutions president Janet Barnard said during a press conference [in New Orleans] at the NADA Convention & Expo. That, she said, will happen in 2020, when 4.6 million cars come off lease.
Source: Auto Remarketing

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Your Car Could Cost Up to $17,000 More with the Proposed Border Tax

As Washington mulls a tax on imports, an auto industry study suggests the policy would deliver the sharpest blow to Tata Motors Ltd.’s Jaguar Land Rover while giving a leg up to Tesla Inc. and Ford Motor Co. In what it calls a “thought exercise,” researcher Baum & Associates LLC estimates most automakers would need to raise vehicle prices by thousands of dollars -- more than $17,000 per vehicle in Jaguar Land Rover’s case, which imports all its vehicles -- to recoup higher costs incurred by a proposed border-adjusted tax. Ford, with significant domestic manufacturing, would need to mull the smallest price hike among major automakers, at about $282 per vehicle, followed by General Motors Co. at $995, according to the report.

In a separate report Wednesday, Colin Langan, an analyst at UBS Securities LLC, said the proposed border tax could raise average prices in the U.S. by about 8 percent, or $2,500 per vehicle. That’s enough to reduce annual sales by about 2 million vehicles, he said.

Source: Bloomberg

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Honda, Hitachi Automotive to Develop, Make Electric Vehicles

Japanese automaker Honda Motor Co. says it has signed a deal with Hitachi Automotive Systems to jointly develop, make and sell motors for electric vehicles. Honda, which also makes its own electric motors, has a fuel-cell vehicle and hybrids in its lineup. It's planning an electric vehicle for sale later this year, mostly abroad.
Source: The Associated Press

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Automakers Have Strong Super Bowl Ad Showing

Tom Brady and the New England Patriots were likely not the only ones celebrating a big night Sunday. Automakers had their own strong performance during Super Bowl LI, capturing the top three spots on USA TODAY's Ad Meter as well as five of the top 10.
Source: Detroit Free Press

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Past Articles
       
      Quotable
      "The auto sector performed better than ... any other sector in the game, much better actually than beer, and the beer guys usually do pretty well."

          -- Robert Kolt, professor of practice at Michigan State University's Department of Advertising and Public Relations, commenting on the Super Bowl ads, Detroit Free Press, Feb. 6

      Sponsored by

      Automotive Forum -- April 11

       
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