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January 12, 2018 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
Inside this issue
N.J. Dealer Paying Workers Bonus Out of Tax Savings
Fiat Chrysler to Invest More Than $1 Billion in Michigan Plant and Give $2,000 Bonuses in Response to Tax Reform
Fear of NAFTA Collapse Seen as Factor in Move of Ram Production from Mexico
Video: Canada Seeks NAFTA Progress on Cars Amid Warnings Trump May Quit
12 Must-See Cars, Trucks and SUVs Coming to Detroit's Auto Show
39.5 Million Used-Car Sales Expected This Year
NADA Seminar: Advanced Parts Management Held Feb. 19-23 in Tysons, Va.
Top Stories
N.J. Dealer Paying Workers Bonus Out of Tax Savings

New Jersey dealer Steve Kalafer is paying $500 bonuses to each of his full-time employees in the wake of the recently passed federal tax-law changes. With up to 700 full-time employees getting the checks Thursday, Jan. 11, the bonus tab will run about $350,000 for Kalafer's Flemington Car and Truck Country Family of Brands in Flemington, N.J., and two other locations in Clinton and Princeton, N.J. Together, the dealerships represent 19 brands. "I have a lower expense now," Kalafer told Automotive News. "I can give more of my dollars to the people who make the money -- my employees."
Source: Automotive News

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Fiat Chrysler to Invest More Than $1 Billion in Michigan Plant and Give $2,000 Bonuses in Response to Tax Reform

Fiat Chrysler announced Thursday that it will up its investment in the United States and pay some of its employees special bonuses after the recent tax code overhaul. CEO Sergio Marchionne said in a statement that these announcements reflect the company's ongoing commitment to manufacturing in the U.S. He also cited the recently signed tax bill as an opportunity to share the savings with Fiat Chrysler employees. The automaker said it will invest more than $1 billion in a Michigan plant and relocate production of its Ram Heavy Duty truck in 2020. That model is currently being produced in Saltillo, Mexico.
Source: CNBC

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Fear of NAFTA Collapse Seen as Factor in Move of Ram Production from Mexico

Fiat Chrysler hailed the corporate tax cut as a big reason for investing $1 billion in its Warren Truck plant to build heavy duty Ram pickups now assembled in Mexico. But the Trump administration's threat to walk away from the North American Free Trade Agreement was at least as big a factor, an industry scholar told the Free Press. About 80% of the Rams now built in Mexico are shipped to the U.S., said Kristin Dziczek, director of the industry, labor and economics group at Ann Arbor's Center for Automotive Research.
Source: Detroit Free Press

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Video: Canada Seeks NAFTA Progress on Cars Amid Warnings Trump May Quit

A day after expressing concerns President Donald Trump will walk away from NAFTA, Canada’s government signaled it will try to keep negotiations moving forward by seeking to break an impasse over autos.
Source: Bloomberg

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12 Must-See Cars, Trucks and SUVs Coming to Detroit's Auto Show

As auto shows go, none is more important than the annual gathering in Detroit. The city famous as home to the American auto industry is where the world looks first for trends in auto design and innovation — and next week's gathering will be no exception. While the industry is awash in SUVs, reflecting a shift to the boxy vehicles by drivers, the North American International Auto Show in Detroit is shaping up as fairly balanced between crossovers, cars and pickups.
Source: USA TODAY

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39.5 Million Used-Car Sales Expected This Year

There was a 1-percent hike in used-vehicle retail sales in 2017, according to Cox Automotive, which reported the year ended with 39 million used cars sold. And look for more growth this year. The company is anticipating 39.5 million used-car retail sales in 2018.
Source: Auto Remarketing

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NADA Seminar: Advanced Parts Management Held Feb. 19-23 in Tysons, Va.

NADA's Advanced Parts Management week-long seminar will be held from Feb. 19-23, 2018, at NADA headquarters in Tysons, Va. NADA instructor Mark Michalski will teach participants how to take their parts department to the next level by improving inventory integrity. Attendees will learn and discuss important topics like parts turn, fill-rate and ways to improve business operations, as well as analyze and discuss their dealership’s performance. Participants will walk away with the tools to make significant process improvements. The key areas covered include Perfecting the Mix, Profit-Centering, Know the Customer Needs, Personnel Techniques, Deep Dive into DMS, Case Study and SWOT Analysis, and Headache Relief – Best Practices. Click here to register. Seating is limited.
Source: NADA

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Quotable
"I have a lower expense now. I can give more of my dollars to the people who make the money -- my employees."

    -- New Jersey dealer Steve Kalafer, who is paying $500 bonuses to each of his full-time employees in the wake of the recently passed federal tax-law changes, Automotive News, Jan. 11

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