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July 18, 2017 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
Inside this issue
U.S. House Panel to Consider Self-Driving Car Legislation
White House Unveils Its Plans for Remaking NAFTA
Trump Steel Tariffs Could Hurt U.S. Autos
NY Asset Management Firm Acquires 10-Store Pittsburgh Dealer Group
Jeep Is Worth More Than Fiat Chrysler, Says Morgan Stanley
Fiat Chrysler Sponsorship of Sesame Street Puts Muppets in Driver's Seat
Top Stories
U.S. House Panel to Consider Self-Driving Car Legislation

A U.S. House subcommittee will vote on Wednesday on a sweeping proposal to allow automakers to deploy up to 100,000 self-driving vehicles without meeting existing auto safety standards and bar states from imposing driverless car rules. The measure, which would be the first significant federal legislation aimed at speeding self-driving cars to market, would require automakers to submit safety assessment reports to U.S. regulators, but would not require pre-market approval of advanced vehicle technologies.
Source: Reuters

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White House Unveils Its Plans for Remaking NAFTA

The Trump administration released its road map for remaking the North American Free Trade Agreement that aims to preserve "Buy America" provisions and reduce the U.S. trade deficit, but steps back from some of President Donald Trump's most fiery campaign rhetoric on trade with Mexico and Canada. [T]he Mexican auto industry, the country's largest manufacturing sector which accounts for about a third of Mexico's factory exports, doesn't want any changes in its rules of origin. Imported components from Asia represent less than 3% of a car's value, according to estimates from the Mexican government. U.S.-based car manufacturers also don't want significant changes to the rules of origin.
Source: Dow Jones Newswires

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Trump Steel Tariffs Could Hurt U.S. Autos

Tariffs might help U.S. steel companies, but a crackdown on imports by President Donald Trump could hurt U.S. automakers and other industries – and raise prices for buyers of their goods. The Trump administration is considering tariffs on steel imports in an effort to squeeze China and other countries that Trump says are destroying the U.S. steel industry. No action has been taken, but auto industry analysts and trade experts say the threats already have created uncertainty in the market.
Source: The Detroit News

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NY Asset Management Firm Acquires 10-Store Pittsburgh Dealer Group

Another large dealership group in Pittsburgh is going through a change in ownership. A little more than a month after Lithia Motors expanded its operations by securing Baierl Auto Group, GPB Capital announced on Monday that the New York-based asset management firm has acquired a majority stake in Kenny Ross Automotive Group, which operates 10 dealerships in the Pittsburgh metropolitan area.
Source: Auto Remarketing

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Jeep Is Worth More Than Fiat Chrysler, Says Morgan Stanley

Jeep could be better off without Fiat Chrysler, according to a note from one Wall Street analyst. Morgan Stanley analyst Adam Jonas issued a research note Monday that walks through a sum-of-the-parts analysis that suggests Jeep is worth more than Fiat Chrysler. The analysis puts Jeep's value at 120 percent of Fiat Chrysler's market capitalization.
Source: CNBC

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Fiat Chrysler Sponsorship of Sesame Street Puts Muppets in Driver's Seat

Muppets will be featured in online ads for Chrysler Pacifica minivan

Fiat Chrysler Automobiles NV is joining the letters of the alphabet as a sponsor of Sesame Street. The auto maker said Monday it is joining Sesame Workshop, the nonprofit that owns the long-running children’s television show, in a year-long sponsorship deal. Financial terms weren’t disclosed, but Fiat Chrysler will join two other existing corporate sponsors.
Source: The Wall Street Journal

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Quotable
"We can keep the current benefits of the NAFTA, enhance them with modern, new provisions, and proceed in a way that avoids disrupting the flow of trade and the millions of jobs it supports."

    -- Myron Brilliant, executive vice president at the U.S. Chamber of Commerce, commenting on the White House's plan to remake NAFTA, Dow Jones Newswires, July 17

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