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October 18, 2017 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
Inside this issue
Trump NAFTA Demands Could Have Unintended Effects
Mann With Plan Leads Recovery Hopes at Mitsubishi Motors
A Hurricane Is Coming, Let’s Go Car Shopping
Compact Crossover SUVs Post ‘Significant’ Price Strength
Mobileye Says Without Safety Standards Self-Driving Cars Risk Being 'A Very Expensive Science Experiment'
Former Ford CEO Mark Fields Lands Gig with Private Equity Firm
Top Stories
Trump NAFTA Demands Could Have Unintended Effects

A Chrysler Pacifica built in Canada could be hit by tariffs when shipped to the United States under a contentious proposal from the Trump administration in negotiations over the North American Free Trade Agreement. U.S. negotiators proposed increasing the minimum percentage of parts that must be made in the U.S., Canada or Mexico — from 62.5 percent to 85 percent — in order to escape tariffs when imported to this country. And they want to require that 50 percent of parts must come from the U.S. That would mean the Pacifica and several other vehicles made by Detroit carmakers could be hit by import taxes when sent here.
Source: The Detroit News

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Mann With Plan Leads Recovery Hopes at Mitsubishi Motors

Auto maker aims to rally from a fuel-economy scandal by spending about $5 billion on R&D and factories

Mitsubishi Motors  Corp. is plowing billions of dollars into its global operations, as it looks to spark growth after years of lackluster performance and a fuel-economy scandal. Chief Operating Officer Trevor Mann said Wednesday that the company will spend $5 billion over the next three years building new factories and developing a new lineup of cars, including electric vehicles. Mitsubishi Motors has plans to introduce 11 new models during the next three years, looking to refresh a stagnant lineup of cars.
Source: The Wall Street Journal

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A Hurricane Is Coming, Let’s Go Car Shopping

Auto dealers are beginning to see stepped-up car-buying in regions affected by recent hurricanes. That’s expected. Armed with insurance-claim checks, storm victims who lost vehicles quickly replace them, historical data shows. But here’s a head-scratcher: Detected pre-storm automotive consumer behavior oddly shows an apparent surge in dealership traffic in affected regions just before Hurricane Harvey rained down hard in Texas and Hurricane Irma swept across southern Florida.
Source: WardsAuto

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Compact Crossover SUVs Post ‘Significant’ Price Strength

If you’re looking for compact crossover SUVs for your inventory, chances are you’re dipping deeper into your floor-plan account to get them. This week’s Black Book Market Insights report indicated compact crossover SUVs are showing “significant” price strength against the rest of the market. In fact, editors put the increase at 1.1 percent looking at figures as of Oct. 1 versus a month earlier. Meanwhile, Black Book added that a handful of truck segments showed strong retention versus that of cars.
Source: Auto Remarketing

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Mobileye Says Without Safety Standards Self-Driving Cars Risk Being 'A Very Expensive Science Experiment'

Mobileye, the Intel subsidiary that makes cameras and sensors used in autonomous-drive cars, says automakers and tech companies need measurable and provable standards to make self-driving cars as safe as possible. Without those parameters, Mobileye CEO and co-founder Amnon Shashua says, "all the investment in AVs runs the risk of ending up as simply a very expensive science experiment." Shashua says automakers and tech companies should have a predetermined set of rules to evaluate and determine who is responsible when self-driving cars collide with human-driven cars.
Source: CNBC

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Former Ford CEO Mark Fields Lands Gig with Private Equity Firm

Former Ford CEO Mark Fields has a new job. Fields, who was forced out of his post at Ford in May, will be a senior adviser at TPG Capital, a global private equity firm. Fields, who was replaced at Ford by former Steelcase CEO Jim Hackett, oversaw a profitable Ford but the company’s stock lost substantial value during his tenure.
Source: Detroit Free Press

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Quotable
"We have had relatively poor governance. Our new-model investment was not managed in a sustainable way, which is what we’re in the process of trying to fix."

    -- Mitsubishi Motors Corp. Chief Operating Officer Trevor Mann, The Wall Street Journal, Oct. 18

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