NADA Headlines - 07/14/2017 (Plain Text Version)

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Forecasters Lower Economic Outlook Amid Congressional Gridlock

Doubts grow over the ability of legislators to enact proposed policies that had sparked optimism

Early optimism that President Donald Trump would be able to revitalize the U.S. economy is fading as Congress struggles to pass major legislation. Forecasters in The Wall Street Journal’s monthly survey of economists marked down their outlooks for growth, inflation and interest rates this month, a partial reversal of a postelection bump. “Politics and geopolitics are the key risks and are unpredictable,” said Steven Szakaly, chief economist of the National Automobile Dealers Association.
Source: The Wall Street Journal

Global Automakers Call on China to Ease 'Impossible' Electric Car Rules

Global automakers have urged China to delay and soften planned quotas for sales of electric and hybrid cars, saying its proposals will be impossible to meet and would severely disrupt their businesses, according to a letter seen by Reuters. The June 18 letter addressed to the head of China's Ministry of Industry and Information Technology, is the most cohesive pushback yet from the industry against ambitious targets for so-called new energy vehicles in the world's biggest auto market. The letter was signed by the American Automotive Policy Council, the European Automobile Manufacturers Association, the Japan Automobile Manufacturers Association and the Korea Automobile Manufacturers Association.
Source: Reuters  [return to top]

German Government Says Sees No Signs Mercedes Used Illegal Software

German officials probing carmaker Mercedes-Benz, which is owned by Daimler, have found no signs so far that the carmaker made use of illegal software to manipulate emissions, a government spokesman said on Friday. Daimler said based on current information available to the carmaker they would fight allegations about using an illegal software defeat device with all legal means.
Source: Reuters
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Big Oil Just Woke Up to Threat of Rising Electric Car Demand

The world’s biggest oil producers are starting to take electric vehicles seriously as a long-term threat. OPEC quintupled its forecast for sales of plug-in EVs, and oil producers from Exxon Mobil Corp. to BP Plc also revised up their outlooks in the past year, according to a study by Bloomberg New Energy Finance released on Friday. The London-based researcher expects those cars to reduce oil demand 8 million barrels by 2040, more than the current combined production of Iran and Iraq.
Source: Bloomberg
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Top Google Searches for Cars in Every State

Curiosity about Buick is surging, but Americans seem to think they have all the information they need about Honda. Those are two surprising inferences from a study that shows the most frequently Googled car in every state.
Source: Detroit Free Press
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NADA Show 2018 Returns to Las Vegas from March 22 to 25

Online registration for dealers and their managers -- which includes an early-bird discount and hotel selections -- opens Oct. 2, 2017.

NADA Show 2018 (formerly the NADA Convention & Expo) returns to Las Vegas for four days running from Thursday, March 22, to Sunday, March 25. "The NADA Show provides one of the best networking opportunities in the industry—from attending the dealer-franchise meetings and workshop sessions to shopping for the latest products and services in the exhibit hall," said Richard Stephens, NADA Show committee chairman. "Attendees will be among the first in the industry to see what’s new and what’s next in automotive retailing," added Stephens, a Ford and Chrysler-Dodge-Jeep-Ram dealer in Danville, W.V. For more information, visit www.nadashow.org.
Source: NADA
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