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September 26, 2017 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
Inside this issue
VIDEO: NADA Foundation Activates Emergency Relief Fund to Support Dealership Employees
Rival Automakers Are Funding Tesla Through Electric Car Credits
EV Push Could Lead to Copper Shortage, Mining Group Says
Self-Driving Car Advocates Launch Ad Campaign to Prod Congress
Volvo Expanding its U.S. Production Plans in South Carolina
Semi-Autonomous Cadillacs En Route to Dealerships
Top Stories
VIDEO: NADA Foundation Activates Emergency Relief Fund to Support Dealership Employees
 

 
Dealers and dealership groups can donate online to the Emergency Relief Fund, which is dedicated exclusively to providing financial assistance to dealership employees who sustained property damage from hurricanes Irma and Harvey.
 
Dealership employees can apply here for financial assistance. (Lost wages or commissions are not eligible for reimbursement.)
 
Personal or corporate checks can be made payable to Emergency Relief Fund, c/o NADA Foundation, 8400 Westpark Drive, Tysons, VA 22102. For more information, call 703.821.7102. (Donations to the NADA Foundation are generally tax-deductible; contributors should consult their tax advisors for details.)
Source: NADA

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Rival Automakers Are Funding Tesla Through Electric Car Credits
 
Tesla Inc. has generated nearly $1 billion in revenue the last five years from an unlikely source: Rival automakers. The payments are part of an unpopular system in California that’s poised to proliferate elsewhere.
 
California requires that automakers sell electric and other non-polluting vehicles in proportion to their market share. If the manufacturers don’t sell enough of them, they have to purchase credits from competitors like Tesla to make up the difference.
 
Tesla, which exclusively sells battery-powered models, sold $302.3 million in regulatory credits last year alone. China and the European Union -- two of the world’s biggest auto markets -- are considering mandates and credit systems similar to California’s. If California is any guide, automakers will resent having to buy from peers, including the electric-car maker led by Elon Musk.
 
For all the flack California has taken from traditional carmakers for how its mandate system has benefited Tesla, Musk also has been a critic. Tesla’s chief executive officer last year said the Air Resources Board was being “incredibly weak” and called its standards “pathetically low.” Rules should be tougher and the credits should be worth more, he said.
Source: Bloomberg

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EV Push Could Lead to Copper Shortage, Mining Group Says
 
The push toward electric cars could lead to shortages in raw materials such as copper, mining group BHP said. The EV boom would be felt -- for producers -- first in copper, where supply will struggle to match increased demand.
 
The world's top mines are aging and there have been no major discoveries in two decades. The market, he said, may have underestimated the impact on the red metal: fully electric vehicles require four times as much copper as cars that run on combustion engines.
 
Europe has begun a dramatic shift away from the internal combustion engine, although, globally, there are only roughly 1 million electric cars out of a global fleet of closer to 1.1 billion. BHP forecasts that could rise to 140 million vehicles by 2035, a forecast it says is on 'the greener' end.
 
"The reality is a mid-sized electric vehicle still needs subsidies to compete... so a lot will depend on batteries, on policy, on infrastructure," Balhuizen said.
Source: Automotive News

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Self-Driving Car Advocates Launch Ad Campaign to Prod Congress
 
A coalition of supporters of self-driving cars on Tuesday said that it will run ads this week in social media and Washington newspapers, in an effort to convince Congress to adopt sweeping legislation to boost the nascent industry.
 
The ads are being placed by the Coalition for Future Mobility, which was formed in July by trade groups representing major automakers, along with other advocates for self-driving cars, as Congress began serious consideration of bills relating to autonomous vehicles.
 
They want the Senate to pass a bill that would speed up the use of self-driving cars by easing safety regulations, and bar states from blocking such vehicles. The House has already unanimously approved a bill.
Source: Automotive News

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Volvo Expanding its U.S. Production Plans in South Carolina
 
Before the first car even rolls off the assembly line of a new production plant just outside Charleston, S.C., Volvo is expanding plans for the plant. The automaker intends to hire an additional 1,900 workers and increase its total investment in the plant to $1 billion. A spokesperson for Volvo would not comment on reports about the increased investment in the U.S.
 
The Volvo plant in Ridgeville, S.C., will build the S60 sedan with the first models expected to roll off the line in 2018. When the company announced plans to build its first U.S. plant, it indicated that the facility would also supply another vehicle in addition to the S60.
Source: USA Today

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Semi-Autonomous Cadillacs En Route to Dealerships
 
General Motors’ Cadillac luxury brand is embarking on a cross-country drive to show off its version of a car that almost drives itself on the freeway. A dozen Cadillac CT6 sedans will leave the brand’s New York headquarters Monday and head for Los Angeles as cars with the “Super Cruise” system start arriving at dealerships.
 
Cadillac calls Super Cruise the first hands-free driver-assist system for freeways. The system was delayed a year as GM worked out the kinks and refined it after a fatal crash last year involving a Tesla Model S in which the driver was using the electric car maker’s Autopilot system.
Source: The Detroit News

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Quotable
"With the applications we've already seen, and there are many more to come, we're going to exhaust those funds. We need dealers and dealer groups across the country to assist in helping these people who have this need."

    -- Annette Sykora, NADA Foundation Chairman, highlighting the importance of dealer community support for employees impacted by recent hurricanes, Sept 25

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