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March 3, 2017 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
Inside this issue
Mexico Economy Minister to Meet with Ford, GM in Detroit
Koch-Backed Group Floats Alternatives to GOP Border Tax Proposal
Auto Loan Values Rise Along with the Length of Terms, Leasing
Nissan, Renault, Mitsubishi Boss Carlos Ghosn: One Job Had to Go
Mercedes-Benz Shows Off Its First Pickup
Dealer Volunteers Wanted for NADA / Junior Achievement Financial Literacy Program
Top Stories
Mexico Economy Minister to Meet with Ford, GM in Detroit

Mexico's economy minister will travel to Detroit on Friday to meet with executives from automakers Ford Motor Co. and General Motors Co., keeping a frenetic pace of meetings to deter President Donald Trump from punishing Mexican exports. Economy Minister Ildefonso Guajardo will also meet with auto parts makers that have operations in Detroit and Mexico, the ministry said. He will discuss the state of U.S.-Mexico trade and the future of the North American Free Trade Agreement (NAFTA).
Source: Reuters

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Koch-Backed Group Floats Alternatives to GOP Border Tax Proposal

A free-market group backed by Charles and David Koch, the Republican mega-donor brothers, released a list of spending and tax changes that could be alternatives to the House Republicans' border-adjustment proposal. The list from Americans for Prosperity (AFP) comes as the House proposal faces tough odds of passing the Senate ...

The border-adjustment proposal, which would tax imports and exempt exports, is a key part of the House Republicans' tax reform plan in part because it could raise more than $1 trillion in revenue over 10 years ...
 
But AFP argued that border adjustability would lead to higher prices for consumers and said that Congress should enact other tax and spending changes instead in order to achieve deficit-neutral tax reform ...

AFP suggested curbing several tax preferences that are currently preserved in the House GOP tax blueprint. These include …capping the mortgage interest deduction at $500,000, which would raise $352 billion, and repeal the "last in first out" accounting method for calculating corporate tax liabilities, which would raise $102 billion ...
 
Sen. John Cornyn (R-Texas) said Thursday that Senate Republicans are looking at alternatives to border adjustability but did not provide additional details ...
Source: The Hill

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Auto Loan Values Rise Along with the Length of Terms, Leasing

The average loan amounts for new and used vehicles rose in the fourth quarter, but consumers kept monthly payments low with long loan terms and leasing, Experian said today in its fourth quarter State of the Automotive Finance Market report. Delinquencies also rose, but lenders are tightening their standards, Experian said.
Source: Automotive News

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Nissan, Renault, Mitsubishi Boss Carlos Ghosn: One Job Had to Go

The global auto industry titan leading Nissan and Renault said Thursday that he decided to relinquish his post as CEO of Nissan after becoming chairman of Mitsubishi in part because the company is the strongest of the three automakers. Carlos Ghosn, the globe-trotting executive who has served simultaneously as chairman and CEO of Japan-based Nissan and France-based Renault, said Nissan is best equipped "to continue to develop by itself," although he'll remain chairman.
Source: USA Today

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Mercedes-Benz Shows Off Its First Pickup

It will likely become the coolest new pickup truck that Americans won't ever be allowed to buy – the Mercedes-Benz X-Class. Daimler, parent of Mercedes-Benz, says it is bringing the latest concept version of its first pickup to the Geneva Motor Show later this month as a luxury midsize model. When it hits showrooms later this year, X-Class will be sold in what Mercedes says are a bunch of "key markets," and the U.S. isn't included (for the moment).
Source: USA Today

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Dealer Volunteers Wanted for NADA / Junior Achievement Financial Literacy Program

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
      "With the average loan amount for new and used vehicles hitting all-time highs, we are seeing the need for affordability drive consumer purchasing behavior."

          -- Melinda Zabritski, Experian’s senior director of automotive finance, Automotive News, March 2

      Sponsored by

      Automotive Forum -- April 11

       
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