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August 22, 2017 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
Inside this issue
What Happens to Fiat Chrysler if Chinese Automaker Great Wall Buys Jeep?
NAFTA Renegotiation Off to Rocky Start
Job One for Hackett Is Delivering a Faster Ford
Audi Engineer Implicates Superiors in Diesel Case, Lawyer Says
Millennial Americans Are Moving to the 'Burbs, Buying Big SUVs
Empower Retirement Provides Next Installment of Its Quarterly Market Commentary
Top Stories
What Happens to Fiat Chrysler if Chinese Automaker Great Wall Buys Jeep?

Chinese automaker Great Wall is reportedly interested in buying Fiat Chrysler Automobiles' Jeep brand, but a sale of the iconic American vehicle line would likely raise political hackles in the U.S. and, perhaps more significantly for the company and its workers, damage the prospects for what would remain of FCA.
Source: Detroit Free Press

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NAFTA Renegotiation Off to Rocky Start

U.S. Trade Representative Robert Lighthizer said in opening remarks of the five-day negotiation in Washington that the president is looking for wholesale changes to the trade agreement that has been blamed for lost jobs in the U.S. auto industry. “The views of the president about NAFTA, which I completely share, are well-known,” Lighthizer said Wednesday. “I want to be clear that he is not interested in a mere tweaking of few provisions and a couple of updated chapters. We feel that NAFTA has fundamentally failed many, many Americans and needs major improvement.”
Source: The Detroit News

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Job One for Hackett Is Delivering a Faster Ford

Jim Hackett is approaching the 100-day mark atop Ford Motor Co., an artificial marker that nonetheless raises a fair question: what’s the new CEO likely to do with the Blue Oval? More partnerships, more transparency and a move to go “all-in” on pure electric vehicles, Morgan Stanley, a leading Wall Street investment house, says in a self-described “cautious” note issued Monday. It also expects Ford to double down on the core business of cars and trucks powered by good ol’ gasoline engines.
Source: The Detroit News

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Audi Engineer Implicates Superiors in Diesel Case, Lawyer Says

A cloud of suspicion hanging over Volkswagen thickened on Monday after a lawyer for a jailed former engineer said his client implicated top managers of the German carmaker’s Audi luxury brand in a continuing diesel cheating scandal.
Source: The New York Times

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Millennial Americans Are Moving to the 'Burbs, Buying Big SUVs

Millennials are finally starting their own baby boom and heading for the suburbs in big sport utility vehicles, much like their parents did. The generation of Americans aged about 18 to 34 have become the largest group of home buyers, and almost half live in the suburbs, according to Zillow Group data. As they shop for bigger homes to accommodate growing families, they’re upsizing their vehicles to match. U.S. industry sales of large SUVs have jumped 11 percent in the first half of the year, Ford Motor Co. estimates, compared with increases of 9 percent for midsize and 4 percent for small SUVs.
Source: Bloomberg

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Empower Retirement Provides Next Installment of Its Quarterly Market Commentary

Courtesy of the NADA Retirement program, Empower’s Jonathan Kreider presents thoughts on current market conditions and a historical look at bull market trends. Click here for the Q2 Market commentary. For additional information about the NADA Retirement, visit nadaretirement.com.
Source: NADA Retirement

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Quotable
"We do see that demographic group driving larger sport utility sales as they acquire homes, create families and gain some wealth. They started with compact sport utilities and now, with families, they’re moving up."

    -- Michelle Krebs, an analyst at car-shopping website Autotrader, commenting on millennials, Bloomberg, August 22

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