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February 27, 2017 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
Inside this issue
Mexico Warns U.S. It'll Cut Off NAFTA Talks If Tariffs Proposed
Business as Usual at the CFPB Is Not Good for Consumers
Trump Administration Re-Evaluating Self-Driving Car Guidance
Auto Incentives Average 10 Percent Off Sticker In February, Analysts Say
Takata Guilty Plea Expected in Air Bag Cover-Up
Mendel's Exit at Honda Elevates U.S. Newcomer
The Millennials Are Coming
Dealerships That Participate in Workforce Study by April 28 Will Receive Two Complimentary Reports
Top Stories
Mexico Warns U.S. It'll Cut Off NAFTA Talks If Tariffs Proposed

Mexico’s top trade negotiator doubled down on threats to break off talks to rework NAFTA, saying his country will walk away if the U.S. insists on slapping duties or quotas on any products from south of the border. “The moment that they say, ‘We’re going to put a 20 percent tariff on cars,’ I get up from the table,” Mexican Economy Minister Ildefonso Guajardo said in an interview. “Bye-bye.” This doesn’t mean, Guajardo emphasized, that Mexico would be looking to scrap NAFTA. But by saying it refuses to even discuss the kind of tariffs President Donald Trump has long trumpeted, the country is ratcheting up the pressure on U.S. negotiators and effectively daring them to pull out of the 23-year-old pact.
Source: Bloomberg

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Business as Usual at the CFPB Is Not Good for Consumers

There has been quite a bit of buzz surrounding the future of the Bureau of Consumer Financial Protection, or CFPB, as the priorities of the new administration begin to take shape. Some in Congress are calling for the CFPB’s director to be fired, others want to reform the structure and funding of the agency, and still others want to eliminate the agency altogether. Underlying all of these calls for change is the growing realization of just how far off the rails this fledgling agency has gone.
Source: RealClear Markets

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Trump Administration Re-Evaluating Self-Driving Car Guidance

U.S. Transportation Secretary Elaine Chao said on Sunday she was reviewing self-driving vehicle guidance issued by the Obama administration and urged companies to explain the benefits of automated vehicles to a skeptical public. The guidelines, which were issued in September, call on automakers to voluntarily submit details of self-driving vehicle systems to regulators in a 15-point “safety assessment” and urge states to defer to the federal government on most vehicle regulations.
Source: Reuters

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Auto Incentives Average 10 Percent Off Sticker In February, Analysts Say

To maintain U.S. auto sales at the present high volume give or take a few percentage points, analysts said automakers are resorting to an average discount of about 10 percent off suggested retail price. That’s the highest level of incentives for the month of February since 2009, according to a joint forecast by J.D. Power and LMC Automotive. Incentives can take several forms. Cash back is the most obvious, but low-interest loans and discounted leases are also common.
Source: Forbes.com

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Takata Guilty Plea Expected in Air Bag Cover-Up

Japanese auto parts maker Takata Corp. is expected to plead guilty Monday to a criminal charge and agree to a $1 billion penalty for concealing a deadly air bag inflator problem. Company representatives are scheduled to be in U.S. District Court in Detroit Monday afternoon. The company agreed last month to plead guilty to one count of wire fraud.
Source: Associated Press

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Mendel's Exit at Honda Elevates U.S. Newcomer

Igarashi will lead auto operations; Conrad's portfolio expands

Tucked beneath the headlines last week about John Mendel's retirement from Honda were other personnel changes that will shape the company moving forward. Key among them is the naming of Masayuki Igarashi as executive vice president of American Honda Motor Co.'s automotive operations. This will be the first stint at Honda's U.S. operations for Igarashi, who joined Honda in 1988. Since then, he has held posts in Honda's China and Vietnam operations and most recently served as the COO of Honda's power-product operations.
Source: Automotive News

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The Millennials Are Coming

Slow to recover from recession, but fast becoming a major buyer segment

During the past decade, the rise in car-sharing services, urban living and college debt payments led to doubts about millennials' desire to ever own a vehicle. Not anymore. Millennials make up the fastest growing segment among vehicle buyers and likely will represent about 40 percent of the U.S. new-vehicle market by 2020. Last year, millennials -- also known as Generation Y -- purchased 4.1 million vehicles in the United States, accounting for 29 percent of the market, according to data from J.D Power and Associates' Power Information Network.
Source: Automotive News

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Dealerships That Participate in Workforce Study by April 28 Will Receive Two Complimentary Reports

With a retail workforce topping 1 million and the industry poised for growth, dealerships need to focus on hiring and keeping talented employees. The NADA Dealership Workforce Study (DWS) provides one-of-a-kind analysis of dealership pay plans and benefit packages, retention and turnover, employee benefits, work schedules and demographics. It is based on actual payroll data and questionnaire responses submitted by NADA and ATD members. The DWS is open for participation now through April 28, 2017, at www.nadaworkforcestudy.com.

In return for participating in the study, dealerships will receive two complimentary reports: (1) Automotive Retail: National and Regional Trends in Compensation, Benefits and Retention and (2) a custom report, which includes comparisons of the dealership(s) to peers nationally, regionally, by state and brand. All data must be submitted by April 28, 2017. To participate in the study, go to www.nadaworkforcestudy.com to begin. For questions, email WorkforceStudy@nada.org.
Source: NADA Dealership Operations

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Past Articles
       
      Quotable
      "The millennial was the buyer that was first pushed out of the market with the recession. They were late coming back, but they have come back. We are past that issue."

          -- Jeff Schuster, senior vice president of forecasting with LMC Automotive, Automotive News, Feb. 27

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      Automotive Forum -- April 11

       
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