NADA Headlines - 07/10/2017 (Plain Text Version)
Inventories likely to climb into September
The Trump administration is considering easing steeper fines proposed by Obama-era regulators for automakers that don’t meet tougher fuel economy standards, a move that would give a break largely to luxury brands like Jaguar, BMW and Porsche that have paid the highest penalties in the past. The National Highway Traffic Safety Administration said in a regulatory filing Friday it will seek public comment on how to revise plans slated to go into effect from the 2019 model year which would more than double the civil penalties on auto manufacturers that fall short of meeting government-set economy targets.
Now, in the wake of President Donald Trump's "America First" rhetoric, getting the message across that foreign automakers employ 130,000 people in America has become more urgent than ever in the eyes of Global Automakers, a lobbying organization that represents the 13 foreign automakers that operate in the U.S. "I don’t think there has ever been a more important time to tell this story," said John Bozzella, CEO of Global Automakers, which has launched a marketing campaign called "Here for America" to tell the jobs story for foreign automakers.
In the earliest years of the push to bring driverless and electric cars to the American masses, the narrative came easily: It was Silicon Valley and its high-tech wizardry squaring off against the old-school manufacturing power of Detroit. The question of who will lead the development and manufacturing of autonomous and electric cars remains, carrying the weight of who will benefit from the jobs and revenues they create.
Many changes in the May ranking of list of the world’s 10 largest automakers, measured by actual registrations: January through May, Ford kicks Hyundai Kia off place 4, FCA overtakes Honda, PSA Peugeot-Citroen kicks Daimler off the top 10 list. The top 3 ranking is unchanged with Volkswagen leading Toyota and the Renault-Nissan Alliance.