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March 1, 2017 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
Inside this issue
Trump's Scant Specifics Leave Questions on His Border-Tax Plans
GM CEO Mary Barra: Border Tax Could Be 'Problematic'
February Car Sales Will Cool, Analysts Expect
FCA Reveals U.S. State, Federal Probes on Diesel Emissions
VW Has Spent $2.9 Billion on U.S. Buybacks
Toyota Leads Hybrid Market to Record Sales in 2016
NADA Partners with Junior Achievement to Improve Financial Literacy
Top Stories
Trump's Scant Specifics Leave Questions on His Border-Tax Plans

President Donald Trump offered no new details of his plan to overhaul corporate and individual taxes -- renewing questions about whether he supports a controversial proposal to tax U.S. companies’ imports while excluding their exports. While some investors expected Trump to flesh out his tax vision, he fell back on his familiar complaints that other countries charge “very high tariffs and taxes” and put U.S. products at a disadvantage. He stopped short of endorsing a plan favored by House Speaker Paul Ryan for a "border-adjusted” tax.
Source: Bloomberg

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GM CEO Mary Barra: Border Tax Could Be 'Problematic'

General Motors CEO Mary Barra on Tuesday expressed reservations about President Trump’s proposed border tax, even as the nation's largest automaker continues to back overall corporate tax reform. Barra told the Economic Club of Washington, D.C. that the border adjusted tax “if not done very thoughtfully could be very problematic.”
Source: USA Today

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February Car Sales Will Cool, Analysts Expect

February U.S. auto sales, which automakers will report Wednesday, are expected to dip slightly compared to the number of new cars and trucks sold in February a year ago, analysts say.
Source: The Detroit News

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FCA Reveals U.S. State, Federal Probes on Diesel Emissions

Fiat Chrysler Automobiles NV has received subpoenas from U.S. federal and state authorities, including the Securities and Exchange Commission, related to alleged excess diesel emissions by some of its vehicles, the automaker revealed in a filing with the SEC on Tuesday. On the diesel emissions issue, FCA said it has "received various inquiries, subpoenas and requests for information from a number of governmental authorities, including the U.S. Department of Justice, the SEC and several states’ attorneys general.
Source: Reuters

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VW Has Spent $2.9 Billion on U.S. Buybacks

Volkswagen AG has paid $2.9 billion to repurchase nearly 138,000 U.S. diesel vehicles through Feb. 18 in the wake of its emissions scandal, a court document made public on Tuesday shows. The report by an independent claims supervisor said the German automaker is buying back and terminating leases on about 15,000 vehicles a week. VW has made offers to buyback vehicles or cancel leases to 323,179 U.S. consumers totaling $5.86 billion, it said.
Source: Reuters

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Toyota Leads Hybrid Market to Record Sales in 2016

Toyota registered 16% growth in hybrid-vehicle sales last year, delivering a record 1.4 million units. Sales of all Japanese hybrid car and truck brands totaled nearly 1.64 million units, also a new high. Excluding Nissan, for which only half-year results have been confirmed, sales grew 12%.
Source: WardsAuto

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NADA Partners with Junior Achievement to Improve Financial Literacy

NADA has partnered with Junior Achievement USA to teach financial educational courses to students in grade schools and high schools through a volunteer program. “A goal of the partnership is to get new-car dealers or dealership representatives in communities across the country to become volunteers in the program,” said Michelle Primm, managing partner of Cascade Auto Group in Cuyahoga Falls, Ohio, who is providing financially-focused curriculum to students in her local school district through Junior Achievement. For more information on how to become a volunteer, contact Deb Stevens at dstevens@nada.org or call 703.827.6861.
Source: NADA

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Past Articles
       
      Quotable
      "We expect February to eke out a small increase over last year, despite bad weather giving a slow start to the month."

          -- Deirdre Borrego, senior vice president of automotive data and analytics at J.D. Power, commenting on auto sales, The Detroit News, March 1

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      Automotive Forum -- April 11

       
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