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October 5, 2017 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
Inside this issue
NADA Chairman Mark Scarpelli to Discuss Unintended Consequences of Stairstep Incentive Programs
Senate Panel Approves Self-Driving Car Legislation
20 Senior Industry Leaders Upbeat About Finance Market
Electric Car Makers with No Infrastructure Plan Can't Be Taken Seriously, Says Analyst
Hurricane Cars Declared ‘Total Losses’ by Adjusters Are Now Back on Roads
Top Stories
NADA Chairman Mark Scarpelli to Discuss Unintended Consequences of Stairstep Incentive Programs


In remarks to the Automotive Press Association in Detroit on Tuesday, Oct. 10, NADA Chairman Mark Scarpelli will discuss the unintended consequences of certain manufacturer incentive programs – including, in particular, the adverse effects that those programs often have on the value of brands to consumers. Scarpelli represents Metro Chicago’s new-car and -truck dealers on NADA’s board of directors. NADA represents nearly 16,500 new-car and -truck dealerships, with both domestic and international franchises.
Source: NADA

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Senate Panel Approves Self-Driving Car Legislation

A U.S. Senate panel on Wednesday unanimously gave the green light to a bill aimed at speeding the use of self-driving cars without human controls, a measure that also bars states from imposing regulatory road blocks. The Senate Commerce, Science and Transportation Committee approved the bill, and the U.S. House of Representatives unanimously passed a similar measure last month. Automakers would be able to win exemptions from safety rules that require human controls. States could set rules on registration, licensing, liability, insurance and safety inspections, but not performance standards.

Editor's note: Yesterday, the Senate Commerce, Science and Transportation Committee approved S. 1885, the “AV START Act,” a bill seeking uniform regulation of self-driving vehicles to avoid a state patchwork that would delay the deployment of these vehicles. As passed by the committee, the bill includes clear language to ensure that state vehicle license and franchise laws, as applied to AVs, are preserved. An amendment by Sens. Richard Blumenthal (D-Conn.) and Ed Markey (D-Mass.) to prohibit auto dealers from selling, leasing or wholesaling any used vehicles under open recall, which would have raised used-car prices, was opposed by a NADA-led coalition of auto industry trade associations. This amendment failed to receive a vote in committee. Click here for the NADA-led coalition letter opposing the amendment.

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20 Senior Industry Leaders Upbeat About Finance Market

The opinions of business leaders including company chief executive officers, directors, chairmen and presidents highlighted in White Clarke Group’s new U.S. Auto & Equipment Finance Survey 2017 paint a detailed picture of a developing and dynamic market. In the new-vehicle market, while report authors acknowledge new-models sales are set to falter slightly this year, there is still a strong appetite for new cars and light trucks, funded through cheap finance options and low interest rates. The National Automobile Dealers Association is forecasting total sales of 17.1 million new cars and light trucks in 2017, and although this will represent a fall in demand, it is still expected to be one of the highest performances on record.
Source: SubPrime Auto Finance News

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Electric Car Makers with No Infrastructure Plan Can't Be Taken Seriously, Says Analyst

A crucial indicator of whether a company will succeed with electric cars is whether it has solid infrastructure, Morgan Stanley analyst Adam Jonas told CNBC on Wednesday. "If they don't have a well-defined plan on the charging structure, for example, we don't think they can be taken seriously," he said on "Power Lunch." This is an aspect of electrification that needs more attention, Jonas said.
Source: CNBC

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Hurricane Cars Declared ‘Total Losses’ by Adjusters Are Now Back on Roads

The brutal 2017 storm season has already sidelined more vehicles than any event since the federal Cash For Clunkers program. Damage claims have been filed for about 360,000 cars and trucks in the aftermath of hurricanes Harvey and Irma. That equates to about one-quarter of all the new vehicles sold in the U.S. in August. The tide of damaged vehicles is sure to rise as insurance adjusters swarm Puerto Rico, which has about 3.5 million registered vehicles. (For context, Cash For Clunkers removed about 709,000 vehicles from the roads during the Great Recession.)
Source: Bloomberg

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Quotable
The bill "underscores the bipartisan desire to move ahead with self-driving vehicle technology ... The safety and economic benefits of self-driving vehicles are too critical to delay."

    -- U.S. Sen. John Thune, commenting on passage of a senate bill in committee aimed at speeding the use of self-driving cars without human controls, Reuters, Oct. 4

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