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December 18, 2017 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
Inside this issue
Sweeping GOP Tax Reform Bill Retains EV Tax Credit
Takata Recalls Are Improving, Industry Notes
Pay Us for Recalled Used Cars, Dealers Say
FTC Reminds Businesses of Duties to Victims of Identity Theft
Dealing with Tech Shortages at Schools
Toyota to Market Over 10 Battery EV Models in Early 2020s
The Fast and the Financed: China’s Well-Funded Auto Startups Race to Overtake Tesla
Safe + Sound Week 2018 to be Held August 13-19
Pickup Trucks to Dominate 2018 Detroit Auto Show - and Here's Why
Top Stories
Sweeping GOP Tax Reform Bill Retains EV Tax Credit

A compromise Republican tax bill released late Friday does not eliminate a $7,500 electric vehicle tax credit as Republicans in the U.S. House of Representatives had previously proposed. The measure follows the lead of the Senate version approved last month that did not eliminate the credit. Killing the credit could have hurt automakers such as General Motors Co., Volkswagen AG, Tesla Inc. and Nissan Motor Co.
Source: Reuters

Editor's note: The final tax reform package includes a NADA-supported provision that would retain the full deductibility of floor plan interest. The House of Representatives and Senate are scheduled to vote on final passage of the tax reform bill by midweek. Click here for the House and Senate conference committee's policy highlights in the "Tax Cuts and Jobs Act" (H.R. 1).

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Takata Recalls Are Improving, Industry Notes

Collaboration between automakers and dealerships on Takata airbag recalls has improved in the past 18 months, making it easier to perform repairs, according to industry officials and a key regulator. "There may have been issues early on, but we think those areas have improved significantly," said Jared Allen, a spokesman for the National Automobile Dealers Association.
Source: Automotive News

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Pay Us for Recalled Used Cars, Dealers Say

Recalled vehicles are increasingly landing on dealers' used-vehicle lots, but automakers aren't legally required to compensate them for lost revenue and extra expenses during what can be long waits for repair parts. Rick Jensen and other dealers are counting on state lawmakers to change that. Even though stop-sales usually affect just a fraction of a dealership's used-car inventory, Jensen said, it is "frustrating" and costly.
Source: Automotive News

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FTC Reminds Businesses of Duties to Victims of Identity Theft

Given several recent high-profile data breaches and the attendant likelihood of identity theft incidents, the FTC has issued a reminder to all businesses of their duties under federal law to identity theft victims.  Specifically, businesses are reminded that they must provide identity theft victims – or law enforcement at the victim’s request – with a copy of records relating to the theft.  Following a written request from an identity theft victim, you must provide the records within 30 days, free of charge and without a subpoena.  You must also take steps to ensure that the person asking for the records is who they say they are, to avoid scammers from taking advantage of this requirement.  Dealers can find more details on these requirements here.
Source: FTC

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Dealing with Tech Shortages at Schools

Income from fixed operations is increasingly crucial to the profitability of new-vehicle dealerships, but finding talented service techs can be hard. Dealerships and dealer associations are partnering with community colleges and other educational institutions to train tomorrow's techs. That investment pays off for the dealerships, the schools and the students.
Source: Automotive News Fixed Ops Journal

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Toyota to Market Over 10 Battery EV Models in Early 2020s

Toyota Motor Corp. said it would market more than 10 all-electric vehicle (EV) models globally in the early 2020s, a target which could require the firm to look beyond a partnership with Panasonic Corp. to co-develop and supply batteries. Setting an annual sales target of around 1 million zero-emission battery EVs and fuel-cell vehicles (FCVs) by 2030, the automaker said in order to achieve this it would need to make an investment of over $13 billion to develop and make batteries.
Source: Reuters

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The Fast and the Financed: China’s Well-Funded Auto Startups Race to Overtake Tesla

Chinese auto startups—many of them founded just two or three years ago—are betting they can leapfrog existing auto makers in creating a new world of electric, networked cars that drive themselves. But they must make enough of a splash at a time when some of the game-changing technologies they advocate, notably self-driving software, are still in the testing lab.
Source: The Wall Street Journal

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Safe + Sound Week 2018 to be Held August 13-19

The second annual Safe + Sound Week will be held Aug. 13-19, 2018. The event is a nationwide effort to raise awareness of the value of workplace safety and health programs. These programs can help employers and workers identify and manage workplace hazards before they cause injury or illness, improving a company’s financial bottom line. Throughout this week, organizations are encouraged to host events and activities that showcase the core elements of an effective safety and health program, including: management leadership, worker participation, and finding and fixing workplace hazards. For more information and to sign-up for email updates, visit the Safe + Sound Week webpage.
Source: OSHA


Editor's note: NADA is a partner with OSHA's Safe + Sound program.

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Pickup Trucks to Dominate 2018 Detroit Auto Show - and Here's Why

Despite all the chatter about robo-taxis and shared mobility, the 2018 Detroit auto show likely will be dominated by that most traditional and profitable of vehicles: the full-size pickup truck. Large pickups are to Detroit automakers what LeBron James is to the Cleveland Cavaliers or or Beyonce is to the live-music market. They are the franchise.
Source: Detroit Free Press

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Quotable
"The need for qualified technicians has never been greater."

    -- Pete Smith, dealer principal at Bob Smith Toyota in La Crescenta, Calif., Automotive News Fixed Ops Journal, Dec. 18

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