NADA Headlines - 03/07/2017 (Plain Text Version)

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General Motors Pulls Back from European Auto Market

General Motors is selling its two major European brands to French automaker PSA Group and pulling back from the world’s third-largest auto market, where the company has struggled to turn a profit for nearly two decades. GM’s Opel and Vauxhall brands, as well as the European arm of its financial division, were valued at about $2.3 billion in the transaction. If the deal clears regulators, it is expected to close by the end of the year, the companies said.
Source: The Washington Post

Fiat Chrysler CEO Says Rationale for GM-FCA Merger Stands, Even After PSA Buys Opel

Fiat Chrysler CEO Sergio Marchionne said he could approach GM again regarding a potential merger, adding a rationale for a tie-up still existed even after the U.S. rival decided to sell its European operations to PSA Group. Marchionne has long advocated more tie-ups in the industry to share the prohibitive costs of making cleaner and more technologically advanced vehicles, but his bid to merge with GM was repeatedly rebuffed.
Source: Reuters [return to top]

FTC: Has a Phishing Scam Hooked Your Company's Good Name?

FTC video provides advice to businesses on what to do if impersonated in a phishing scam

When internet fraudsters mimic a legitimate business to trick consumers into giving out their personal information, it’s called phishing. It’s not just a problem for consumers, but for the companies the scammers are impersonating too. The FTC has long provided advice to consumers about steps they can take to avoid phishing scams. But what should you do if customers contact your company upset that they responded to a phishing email from a scammer impersonating your legitimate business?
Source: FTC [return to top]

Video: 'Cautiously Optimistic' on US, China: Jaguar Land Rover CEO

Jaguar Land Rover CEO Ralf Speth talks about the automaker’s outlook for key markets such as emerging markets and the U.S.
Source: CNBC
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Honda to Begin U.S. Production of New 10-Speed Transmission

Honda Motor Co Ltd said on Monday it had invested nearly $150 million in two U.S. plants for making 10-speed automatic transmission for front-wheel-drive vehicles. The investment includes $100 million for a new assembly line and production modifications at Honda Precision Parts of Georgia LLC in Tallapoosa, Georgia, the Japanese automaker said. The company will invest $49 million in Honda Transmission Mfg. of America Inc in Russells Point, Ohio to provide new equipment and increased production capacity, Honda said.
Source: Reuters
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Geneva Motor Show to Feature New Cars on Way to U.S.

From Mercedes-Benz’s latest E-Class convertible to a head-turning, smaller version of the Range Rover, get ready for firsts, lasts and surprises at the Geneva auto show this week. Located just outside downtown Geneva, the show attracts a dizzying array of vehicles, from supercars for the super-rich to bizarre projects by boutique car designers to high-volume vehicles for the masses.
Source: Detroit Free Press
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2017 Automotive Forum: Policy and Regulation in the Trump Era

With the new administration underway, Peter Welch, NADA president/CEO; Mitch Bainwol, president/CEO of the Alliance of Automobile Manufacturers; and John Bozzella, president/CEO of Global Automakers will assess the regulatory environment and discuss how several Republican policy objectives – including tax reform and infrastructure investment – will impact auto manufacturing and retailing. Mike Allen, co-founder and executive editor of Axios, and a co-founder of POLITICO, will moderate the session.

The discussion is among several speaker and panel sessions scheduled at the 2017 Automotive Forum at the Grand Hyatt New York on Tuesday, April 11. The full-day forum, “Automotive 3.0 – Navigating through Changing Times,” is hosted by NADA, J.D. Power and the New York International Auto Show.

For the full agenda or to register, visit Attendees will receive exclusive access to the auto show during press days.
Source: NADA [return to top]