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February 9, 2017 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
Inside this issue
Nissan Profit Climbs as SUV Sales Pick Up
CNBC: Steve Forbes Blasts Border Tax as Hit to Consumers
VW's Comeback Faces Roadblock from Trump Tax on Mexican Beetles
NADA / FTC To Hold Feb. 16th Webinar Discussing the Recently Revised Buyers Guide
Chevy Touts Bolt EV as Electric Car for Anyone
GM's Barra: Full Speed Ahead on Future Mobility
Penske: Used-Car Standalones a Big 'Opportunity'
Top Stories
Nissan Profit Climbs as SUV Sales Pick Up

Nissan Motor Corp. reported a rise in quarterly profit, as an increase in sport-utility vehicle sales in the U.S. and investment returns offset a relatively strong yen. The company, which leans on Mexican production for around a quarter of its U.S. sales, said plans to build a new factory in Mexico were on track despite pressure from President Donald Trump on auto makers to build more cars in the U.S.
Source: MarketWatch

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CNBC: Steve Forbes Blasts Border Tax as Hit to Consumers

The House Republican border adjustment proposal to tax imports is "insane," said media mogul and two-time GOP presidential candidate Steve Forbes. The House Republican border adjustment proposal to tax imports is "insane," said media mogul and two-time GOP presidential candidate Steve Forbes. "The Republicans are proposing this crazy tax. They're going to punish American consumers over $100 billion a year" over 10 years by making goods coming into the U.S. more expensive, Forbes told CNBC's "Squawk Box" on Wednesday. "And these are Republicans doing it." The people who would be hurt most by the border tax would be middle-class workers who elected Donald Trump as president, Forbes said. "Economically it's wrong. Politically it's wrong." He also warned that if Trump and Congress "botch" the tax cuts, the GOP could lose its majority in the House in the 2018 midterm election.
Source: CNBC

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VW's Comeback Faces Roadblock from Trump Tax on Mexican Beetles

Volkswagen AG is bracing for another blow from the U.S. government. After agreeing to spend more than $23 billion to clean up its diesel-cheating scandal, the German auto giant risks staying in Washington’s crosshairs as it tries to start fresh with American consumers. With the best-selling Jetta and iconic Beetle both made in Mexico and limited production in the U.S., VW is particularly vulnerable to President Donald Trump’s proposed “big border tax” of as much as 35 percent.
Source: Bloomberg

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NADA / FTC To Hold Feb. 16th Webinar Discussing the Recently Revised Buyers Guide

Join NADA and FTC attorney John Hallerud in a webinar covering the changes to the Used Car Rule and the revised Buyers Guide.  Learn how to properly produce, use and complete the revised Buyers Guide, and ask your questions directly to the FTC.  This webinar is open to dealers, dealership staff, dealer attorneys, dealership compliance professionals, and dealership forms providers.  Click here to register.

Date:  Thursday, Feb. 16, 2017
Time: 1 p.m. ET
Duration: 75 minutes
Source: NADA

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Chevy Touts Bolt EV as Electric Car for Anyone

The 2017 Chevrolet Bolt EV is the electric car General Motors Co. is touting for everyone. Not just for the early adopters and the tech savvy. Not only for those in California, where electric vehicles have a higher acceptance. GM wants you to think of the Bolt EV as mainstream car that just happens to be electric. The Bolt EV offers 238 miles of electric range for less than $30,000 after factoring in a federal income tax credit of up to $7,500 (plus possible state incentives such as $2,500 in California).
Source: The Detroit News

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GM's Barra: Full Speed Ahead on Future Mobility

General Motors Chairman and CEO Mary Barra says the automaker is dashing full speed into the new-mobility future with its Maven car-sharing startup and autonomous-driving experiments. GM launched Maven last year as one of the first OEMs to enter the car-sharing business. It operates in 17 markets with 23,231 members, who use an app on their smartphones to locate a GM vehicle nearby and rent a Chevrolet, Cadillac, Buick or GMC vehicle for less than $10 an hour.
Source: WardsAuto

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Penske: Used-Car Standalones a Big 'Opportunity'

The two used-car standalone store outfits that Penske Automotive Group recently purchased — CarSense in the U.S., CarShop in the U.K. — should pull about $700 million in revenue each year, says the retailer’s chief executive, Roger Penske. Buying these standalone pre-owned outlets, Penske said in a quarterly conference call this week, gives the dealer group a chance to diversity further and provides “a greater opportunity to drive used-vehicle sales in this growing segment of the market.”
Source: Auto Remarketing

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Past Articles
       
      Quotable
      "[P]eople forget in Washington we have these elaborate global supply chains. You're going to disrupt all of that and you don't know what the consequences are."

          -- Media mogul and two-time GOP presidential candidate Steve Forbes, commenting on the proposed border tax in a CNBC interview, Feb. 8

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