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June 30, 2017 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
Inside this issue
Used Car Sales to Keep Dealers Afloat During New Vehicle Sales Slide
GM Confirms, Sales Drop This Year Is Mostly Fleets; Retail Sales Intact
Autonomous Car Rollout May Be Slowed by Trump Appointee Speed Bump
High-Tech Dashboards Signal Big Changes for Auto Parts Suppliers
BMW, Competing With Tesla, to Introduce Electric 3 Series
NADA's Mark Scarpelli and Steven Szakaly to Discuss State of Auto Retailing
Top Stories
Used Car Sales to Keep Dealers Afloat During New Vehicle Sales Slide

Off-lease vehicles becoming affordable alternative to new.

Despite a drop in the sales of new vehicles during the first half of 2017, American car dealerships are still expected to sell more cars and trucks this year thanks to robust demand for used vehicles, which indicates the auto industry is nowhere near slipping into a recession.
Source: The Detroit Bureau

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GM Confirms, Sales Drop This Year Is Mostly Fleets; Retail Sales Intact

General Motors confirmed a growing consensus that lower fleet sales account for much of the highly publicized decline in auto sales this year. “We have been very purposefully reducing our daily rental business, and we have continued to do that this year,” GM CFO Chuck Stevens said in a conference call earlier this week. “The retail side of the business continues to be strong.”
Source: Forbes

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Autonomous Car Rollout May Be Slowed by Trump Appointee Speed Bump

The effects of legislation aimed at accelerating the rollout of autonomous vehicles may be slowed by a lack of resources and leadership at the agency tasked with implementing federal vehicle safety rules, Democratic lawmakers and witnesses said June 27 during a House Energy and Commerce subcommittee hearing. Dozens of companies, including Ford Motor Co. and Alphabet Inc.'s Waymo, are rushing to develop and test fully-autonomous vehicles. Several have announced that the technology needed to put the first models in dealerships will be ready by 2020 or 2021.
Source: Bloomberg BNA

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High-Tech Dashboards Signal Big Changes for Auto Parts Suppliers

Peer at the instrument panel on your new car and you may find sleek digital gauges and multicolored screens. But a glimpse behind the dashboard could reveal what U.S. auto supplier Visteon Corp. found: a mess. As automotive cockpits become crammed with ever more digital features such as navigation and entertainment systems, the electronics holding it all together have become a rat's nest of components made by different parts makers. Now the race is on to clean up the clutter. What's at stake is a piece of the $37-billion cockpit electronics market, estimated by research firm IHS Markit to nearly double to $62 billion by 2022. Accounting firm PwC estimates that electronics could account for up to 20 percent of a car's value in the next two years, up from 13 percent in 2015.
Source: Reuters

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BMW, Competing With Tesla, to Introduce Electric 3 Series

BMW plans to introduce an electric version of its popular 3 Series in September, a move designed to fend off rival Tesla, Handelsblatt reported on Wednesday. The German carmaker will present the vehicle at the IAA auto show in Frankfurt in September, the paper said. The 3 series, which is a high volume sales model, will have a range of 248 miles and is seen as a direct response to the success of Tesla's Model 3, according to Handelsblatt.
Source: Reuters

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July 6: NADA Quarterly Economic Briefing
NADA's Mark Scarpelli and Steven Szakaly to Discuss State of Auto Retailing


Szakaly


Scarpelli

With six months of U.S. auto sales for 2017 in the books, NADA Chief Economist Steven Szakaly and NADA Chairman Mark Scarpelli – during a quarterly economic briefing via conference call – will highlight the current trends impacting both the new- and used-vehicle markets as well as discuss the state of auto retailing—from incentives, inventory levels and financing trends, etc. Szakaly will also provide an outlook for the rest of 2017.

When:
  Thursday, July 6, 2017
Call-in Time:
10:30 a.m. ET

Scarpelli is president of Raymond Chevrolet and Raymond Kia in Antioch, Ill., and co-owner of Ray Chevrolet and Ray Chrysler-Jeep-Dodge-Ram in Fox Lake, Ill.

A Q&A session with the media and industry analysts will follow the briefing. Click here to register. A call-in number and conference ID will be emailed to registrants.
Source: NADA

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Quotable
"Dealers are selling more vehicles, but the mix is changing and shifting from new to used."

    -- Jonathan Smoke, chief economist for Cox Automotive, The Detroit Bureau, June 29

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