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May 18, 2017 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
Inside this issue
Federal Judge Approves FTC Order for Owners of Certain VW, Audi and Porsche Diesels to Receive Refunds
U.S. Preparing to Sue Fiat Chrysler over Excess Diesel Emissions
At Mary Barra’s GM, It’s Profit Before All Else
Worst-Case: Hacker Sends Self-Driving Car Off Cliff
Consumers Continue to Make Car Payments a Priority
NHTSA: Share Summer Driving Safety Tips with Your Customers
Top Stories
Federal Judge Approves FTC Order for Owners of Certain VW, Audi and Porsche Diesels to Receive Refunds

Affected consumers expected to receive up to $1.2 billion in total compensation

A federal district court judge in San Francisco on May 17, 2017, signed a settlement negotiated by the Federal Trade Commission and private plaintiffs providing for consumer redress and starting the formal claims process for owners of Volkswagen, Audi and Porsche 3.0 liter TDI diesel cars. The FTC will monitor VW’s compliance with the settlement’s provisions, which include special protections for those serving in the armed forces and those consumers in rural areas who may be far from the nearest dealer. “Under the Commission’s 2.0 liter and 3.0 liter settlements, Volkswagen will offer consumers over $11 billion in compensation,” Maureen K. Ohlhausen, FTC’s acting chairman, said. “We are confident that these orders will fully reimburse injured consumers, while sending a strong message to others that deceptive conduct does not pay.”
Source: FTC

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U.S. Preparing to Sue Fiat Chrysler over Excess Diesel Emissions

The U.S. Justice Department plans to file a civil lawsuit against Fiat Chrysler Automobiles NV over excess diesel emissions as early as this week if no agreement is reached with the Italian-American automaker, two sources briefed on the matter said on Wednesday. The U.S. Environmental Protection Agency in January accused FCA of illegally using undisclosed software to allow excess diesel emissions in about 104,000 cars and SUVs, the result of a probe that stemmed from regulators' investigation of rival Volkswagen AG.
Source: Reuters

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At Mary Barra’s GM, It’s Profit Before All Else

[Mary] Barra has come a long way since her rookie year as CEO [of General Motors Co.], when she was bullied by Congress over GM’s ignition recall and lampooned on Saturday Night Live. Today she’s on pace to post record profits in 2017—even as rivals Ford Motor Co. and Toyota Motor Corp. are moving to lower investors’ expectations ...
Source: Bloomberg

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Worst-Case: Hacker Sends Self-Driving Car Off Cliff

Automotive cybersecurity is a big issue for the National Automobile Dealers Assn. Here’s one reason why: When the “Car Hacker’s Handbook” was posted online in 2014, there were 300,000 downloads in four days. Not all the downloaders were hackers-in-training. But the sheer number indicates why potential automotive cyberattacks go beyond isolated-crime status. “This is top of mind for NADA,” says Brad Miller, the trade group’s director-legal and regulatory affairs. “It’s a tremendously important issue, and becoming more important every day.”
Source: WardsAuto

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Consumers Continue to Make Car Payments a Priority

Since at least 2004, consumers with auto, mortgage and credit card debt have prioritized their auto payments. They typically pay a mortgage second, followed by credit cards. "If I were a consumer in a tough economic time, I would still need a car to go interview for a job, take my kids places, run errands," [said Nidhi Verma, senior director of research and consulting in TransUnion's financial services business unit.] It's more about the convenience the car provides than its value, she added.
Source: Automotive News

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NHTSA: Share Summer Driving Safety Tips with Your Customers

With Memorial Day marking the official start of summer road trips, the National Highway Traffic Safety Administration is calling on dealerships to remind car shoppers and motorists to prepare for travel and keep vehicle safety top of mind by sharing summer driving tips on websites and social media channels. Click here for NHTSA’s summer driving tips.
Source: NHTSA

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Quotable
"We aren’t going to win by being all things to all people everywhere. It's not the right strategy."

    -- General Motors Co. CEO Mary Barra, commenting on its global restructuring plan, Bloomberg, May 18

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