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March 15, 2017 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
Inside this issue
Trump Will Offer Boost for Carmakers Today
Trump Won't Seek to Roll Back California Vehicle Authority
As Trump Targets NAFTA, Car Industry Aims to Roll With the Changes
Audi Searched by German Police in Dieselgate Swoop
Auto Group Will Pay $3.6 Million to Settle FTC Charges
2017 Automotive Forum to Discuss 'The View from Wall Street' on April 11
Top Stories
Trump Will Offer Boost for Carmakers Today

President Donald J. Trump will tell autoworkers and car executives in a Wednesday speech outside Detroit that his administration is reopening an automaker-requested review of a strict fuel economy mandate, a senior White House official said. The Trump official said the administration plans to spend the next year reviewing data and will set gas mileage standards in 2018 that are technically and economically realistic and would allow automakers to continue growing and adding jobs.
Source: The Detroit News

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Trump Won't Seek to Roll Back California Vehicle Authority

President Donald Trump will announce the U.S. Environmental Protection Agency will revive a review of the feasibility of strict fuel efficiency standards through 2025, but will not seek to withdraw California's authority to set its own vehicle rules, a White House official said late on Tuesday.
Source: Reuters

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As Trump Targets NAFTA, Car Industry Aims to Roll With the Changes

If proposed taxes prompt auto makers to move more work back to the U.S., many parts suppliers plan to follow

Auto executives say they can adapt to taxes or other curbs on imports, even as industry advocates insist such moves will dent sales and eat into profit. President Donald Trump, traveling to Detroit Wednesday to say his administration will reopen a review of fuel-economy targets, has threatened to upend the North American Free Trade Agreement. The 23-year-old pact led to tens of billions of dollars in new Mexico investments by car companies and their suppliers.
Source: The Wall Street Journal (Subscription required)

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Audi Searched by German Police in Dieselgate Swoop

German prosecutors searched Audi's two biggest plants and other sites on Wednesday in connection with the emissions scandal still rocking parent Volkswagen, adding to pressure on the luxury division and its Chief Executive Rupert Stadler. Volkswagen admitted in September 2015 that up to 11 million of its vehicles worldwide had software installed that cheats emissions tests, unleashing its biggest ever crisis.
Source: Reuters

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Auto Group Will Pay $3.6 Million to Settle FTC Charges

A Los Angeles-based auto group with nine dealerships has agreed to pay more than $3.6 million for return to consumers in order to settle Federal Trade Commission charges that it used deceptive and unfair sales and financing practices, deceptive advertising, and deceptive online reviews. The proposed settlement order, which will be filed in the U.S. District Court for the Central District of California for approval, will prohibit the defendants from making misrepresentations relating to their advertising, add-on products, financing, and endorsements or testimonials.
Source: FTC

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2017 Automotive Forum to Discuss 'The View from Wall Street' on April 11

“The View from Wall Street” is among several topics and panel sessions slated for the 2017 Automotive Forum in New York City next month ahead of the auto show. The Wall Street panel speakers are John Murphy, managing director and lead U.S. auto analyst in equity research for Bank of America Merrill Lynch, and Michael Montani, managing director and analyst on Evercore ISI’s consumer research team covering auto dealerships.

Girsky

Murphy

Montani

Stephen Girsky, managing partner of VectoIQ, an independent advisory firm based in New York, will moderate a panel discussion with Murphy and Montani. Girsky served in numerous capacities at General Motors from November 2009 until July 2014.

The full-day forum, “Automotive 3.0 – Navigating through Changing Times,” is hosted by NADA, J.D. Power and the New York International Auto Show. It will be held at the Grand Hyatt New York on April 11, 2017. For the full agenda or to register, visit www.autoforumny.com. Seating is limited, so register today. Attendees will receive access to the auto show during press days starting April 12.
Source: NADA

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Past Articles:
 
Quotable
"The last thing you want to do is to adjust your price. You're going to absorb the cost the best way you can."

    -- Carlos Ghosn, head of the Renault SA/Nissan Motor Co. alliance, has encouraged the Trump administration to move fast on NAFTA changes, The Wall Street Journal, March 15

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Automotive Forum -- April 11

 
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