No matter how much some US presidential candidates may deride free trade, it remains the backbone of the American economy, writes Anders Fogh Rasmussen—who is the former Prime Minister of Denmark and Secretary General of Nato—at Project Syndicate.
Earlier in May, dealers, ATAEs, and manufacturers from around the country gathered in Washington, D.C., for AIADA’s 10th Annual International Auto Industry Summit. Attendees were treated to an all-star lineup of speakers including Gen. Stan McChrystal, political analyst Stu Rothenberg, and chairman of the powerful House Financial Services Committee Rep. Jeb Hensarling.
Rapidly changing demographics, new buying habits, ride-sharing, and electrification will soon put the hurt on profits and volume for manufacturers and dealerships alike, reports Automotive News.
With auto sales cruising at a near record pace, the amount of money borrowed by car, truck, and SUV buyers topped $1 trillion for the first time ever, reports CNBC.
Toyota Motor Corp. temporarily halted production at its sprawling San Antonio pickup truck plant on Wednesday due to storm damage at the factory, which was hit by lashing rain and strong winds, a company spokesman said. According to Automotive News, the plant sustained some roof damage that allowed water to enter the plant, Toyota Motor Manufacturing of Texas spokesman Mario Lozoya said.
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