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December 15, 2017 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
Inside this issue
TrueCar, California Dealers Association Settle Lawsuit
Republican Governors Meet with Pence Over NAFTA Concerns
Breakthrough Claimed in Remote, Electronic Signature on Auto Finance Contract
GM Squares Off With Old Detroit Foes in $90 Billion Pickup Fight
Mitsubishi Looking for Synergies With Nissan, Targets Growth
Four Electrified Cars Ranked among WardsAuto's 10 Best Engines for First Time
Top Stories
TrueCar, California Dealers Association Settle Lawsuit

TrueCar Inc. and the California New Car Dealers Association reached an agreement over TrueCar's billing model, thereby settling a lawsuit the association had brought against the third-party vehicle shopping site, the two said Thursday. TrueCar has agreed to change its billing model in California from a pay-per-sale model with a cap to a flat-fee subscription model. The transition will be complete by Jan. 1, 2019. TrueCar will also double the indemnity it provides to California dealers who participate on the TrueCar program, to $50,000 from $25,000 previously, the statement said.
Source: Automotive News

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Republican Governors Meet with Pence Over NAFTA Concerns

Republican governors from four U.S. states on Thursday met with Vice President Mike Pence to voice deep concerns over proposed changes to NAFTA that could affect jobs and manufacturing in their states, officials who attended the meeting said. The meeting at the White House included Governors Kim Reynolds of Iowa, Rick Snyder of Michigan, Bill Haslam of Tennessee and Asa Hutchinson of Arkansas, as well as President Donald Trump’s Commerce Secretary Wilbur Ross and U.S. Trade Representative Robert Lighthizer.

On Tuesday, Indiana Governor Eric Holcomb, accompanied by representatives from Subaru, Fiat Chrysler, Honda, General Motors and Toyota also met with Pence to discuss NAFTA, the Republican governor’s office said. In a letter to Lighthizer in October, Holcomb urged the administration to safeguard the trade relations with Canada and Mexico, especially in the car industry. He emphasized that the auto industry represented about $2 billion in exports and 100,000 jobs in Indiana in 2016.

Both Mexico and Canada have pushed back at demands by the Trump administration during negotiations that would require regional content for autos be raised to 85 percent from 62.5 percent, with 50 percent of the content coming produced in the United States. Neither Canada nor Mexico have offered counterproposals but have argued that the U.S. demands would cause serious damage to North American automotive manufacturing.
Source: Reuters

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Breakthrough Claimed in Remote, Electronic Signature on Auto Finance Contract

Dealership technology provider RouteOne, in a venture with Toyota Financial Services, says it has successfully processed the industry's first remotely captured, electronic customer signature on a finance contract arranged through a dealership. The contract was booked last month by a Toyota dealership employee through Toyota Financial Services, which is piloting RouteOne's technology called Remote eSign, RouteOne said Thursday.
Source: Automotive News

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GM Squares Off With Old Detroit Foes in $90 Billion Pickup Fight

Forget about electric cars with fuzzy prospects for profit or robotaxis that don’t yet exist. Detroit’s real big-money grudge match is over pickup trucks -- and it’s about to get nasty. General Motors Co. and Fiat Chrysler Automobiles NV are planning to show redesigned full-size models at the Detroit auto show in January and start selling them later in the year. Both are trying to steal back some of the momentum that rival Ford Motor Co. has generated by overhauling its F-150 and bigger Super Duty trucks.
Source: Bloomberg

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Mitsubishi Looking for Synergies With Nissan, Targets Growth

Long-struggling Mitsubishi is seeing brighter days ahead as the newest member of the Nissan-Renault alliance. But unclear is how long it will be before Nissan-Renault technology will appear in Mitsubishis in the U.S., or vice versa.
Source: WardsAuto

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Four Electrified Cars Ranked among WardsAuto's 10 Best Engines for First Time

A leading auto industry researcher has for the first time ranked four electrified powertrains among its list of the top 10 engines. For the first time in its 24 years of existence, WardsAuto's Top Ten Engines List included one fully electric car, a hybrid, a plug-in hybrid and a hydrogen fuel cell car. That would mean four of the top 10 automotive engines for 2018 are not engines at all. The fully electric Chevrolet Bolt, the plug-in hybrid Chrysler Pacifica, the hybrid Toyota Camry, and the hydrogen fuel cell Honda Clarity were all included in the list ...
Source: CNBC

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Quotable
"There will be a pickup war this year. It will make a fiercely competitive market even more competitive than it has been."

    -- Morningstar analyst David Whiston, Bloomberg, Dec. 15

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