Auto Industry Preps for Unprecedented USMCA Review as Crucial Elections Loom

Toyota Drops ‘Prime’ Name for ‘Plug-in Hybrid’ Instead
It may have worked with top-quality beef, on Amazon and even with a former NFL superstar now coaching college football, but Toyota says it will be pulling the plug on the “Prime” nomenclature that has delineated its plug-in hybrid vehicles from standard ones. Beginning with the 2025 model year this fall, the RAV4 Prime will be called the RAV4 Plug-in Hybrid Electric Vehicle, the automaker said Sept. 26.The switch comes five years after the popular plug-in crossover debuted, and eight years after Toyota introduced the “Prime” designation on the plug-in hybrid version of the 2016 Prius, reports Automotive News.A Toyota spokesperson confirmed that the Prime designation eventually will be phased out on the Prius in favor of the more descriptive Prius Plug-in Hybrid, bringing the two Toyota nameplates in line with the way the Japanese automaker describes the same technology in its Lexus NX, RX and TX PHEVs. In addition to the naming change, the Toyota logo on the front and rear of the vehicle will no longer have a blue “halo,” the automaker said.Click here for the full story.

Auto Industry Preps for Unprecedented USMCA Review as Crucial Elections Loom
Political uncertainty in the U.S. and Canada is creating concern for the auto industry as the United States-Mexico-Canada Agreement approaches its scheduled review in 2026. Under the terms of the trade pact, which dictates how vehicles and parts can move across borders without tariffs, the three countries must confirm in writing by July 1, 2026, whether they want the deal to continue, reports Automotive News.The nations’ trade representatives will meet before then to review the terms and consider recommendations for changes. Their choices: Accept or reject modifications and extend the agreement for 16 years or launch annual reviews every year through 2036.The process could result in significant changes to the agreement or cast its long-term future in doubt. “This is unprecedented in terms of process,” said Mark Tallo, an international trade lawyer at New York firm Sandler, Travis & Rosenberg. “To my knowledge, there is no other trade agreement the U.S. is involved in that has such a mechanism.” Click here for the full story.

Premier Companies’ Joe Laham on Succession, Negotiation-Free Model, and Stellantis Challenges
At 21, Joe Laham sold his first car, and now, as the President of Premier Companies, he’s running dealerships that have been negotiation-free since 1995. On today’s episode of CBT Inside Automotive, we’ll explore how his stores operate today and get his thoughts on the industry’s current state and Stellantis, whose profits have recently taken a hit. Joe Laham’s two sons, Chris and Nick, are actively involved in the business, learning the ropes and preparing to grow the dealership group. He emphasizes the importance of family involvement and leadership development, positioning the next generation to drive future growth.Since 1995, Premier Companies have operated under a negotiation-free pricing model, a pioneering approach in the industry. Laham highlights that removing commission-based pay structures helps foster long-term customer relationships, promoting transparency and trust. Laham candidly discusses the challenges faced by Stellantis dealers, particularly around product pricing and leadership decisions. He acknowledges Stellantis’ missteps but advocates for collective dealer solutions rather than public criticisms, focusing on internal fixes and long-term partnerships. Despite industry volatility, Premier Companies are expanding with new BMW and Jeep points, including plans for a BMW Motorrad dealership. Click here for the full interview.

China Urges U.S. to Stop ‘Unreasonable Suppression’ of Its Firms in Latest Auto Row
China urged the United States on Wednesday to stop “unreasonable suppression” of its companies, in response to U.S. proposals to ban Chinese software and hardware in vehicles on its roads due to national security concerns. “The U.S. move has no factual basis, violates the principles of market economy and fair competition, and is a typical protectionist approach,” said a spokesperson for the commerce ministry. The U.S. Commerce Department on Monday proposed the planned regulation, first reported by Reuters, which would also force American and other major automakers in the future to remove key Chinese software and hardware from vehicles in the U.S. connected to the internet and navigation systems. The action “seriously affects the normal cooperation between China and the United States in the field of connected vehicles, disrupts the global automotive industry supply chain, and harms the interests of United States consumers,” the spokesperson said, according to a statement. The move would effectively bar Chinese cars and trucks from the U.S. market, with major concerns centered around data collection by connected Chinese vehicles on U.S. drivers and infrastructure and potential foreign manipulation of vehicles. Click here for the full story.

Hyundai and Kia Working on Next-Gen Infotainment with Samsung
Hyundai, Kia, and Samsung will collaborate on a next-generation infotainment system that seamlessly links future software-defined vehicles from the carmakers with smartphones. The three companies have started work on the new infotainment system and an open mobility ecosystem alongside Hyundai Motor Group’s global software center, 42dot. Future vehicles will be seamlessly linked to Samsung’s ‘SmartThings’ ecosystem using an Internet of Things (IoT) platform, meaning owners will be able to operate smart Samsung devices from their vehicles, reports Carscoops. For example, drivers could wirelessly control Samsung air conditioners and other smart home devices. Similarly, the partnership will allow Hyundai and Kia drivers to get access to ‘SmartThings Find’, a crowdsourced global vehicle location tracking service that uses data from hundreds of millions of Samsung Galaxy devices. If a future Hyundai or Kia is stolen, it could be found anywhere in the world using this technology. “Through our collaboration with Hyundai and Kia, customers will experience the convenience of SmartThings not only at home but also in their vehicles, transcending space,” the president and chief technology officer of Samsung’s DX Division, Paul Cheun, said. Click here for the full story.

CARFAX: Up to 89,000 Cars Damaged in Summer Flooding
We’re halfway through Hurricane Season for 2024 and already tens of thousands of cars are at risk of suffering extensive water damage, CARFAX data shows. After a series of tropical storms and hurricanes hit the U.S. from June through August, CARFAX estimates that extensive flooding from Texas to Vermont has left as many as 89,000 vehicles with water damage. That’s on top of the estimated 454,000 water-damaged cars that CARFAX data shows were already on the road in 2023 – before any of these summer hurricanes and storms hit.

Texas and Florida lead the nation when it comes to the number of flood-damaged cars already on the road. CARFAX research shows these vehicles often pop up in states where flooding might not be top of mind for car shoppers, including places such as Kentucky, Illinois and Tennessee.

CARFAX data shows these 10 states have the most water-damaged cars:

1. Texas 64,000

2. Florida 62,700

3. Kentucky 30,200

4. Pennsylvania 21,800

5. California 20,200

6. New Jersey 15,600

7. New York 15,300

8. Illinois 14,500

9. N. Carolina 14,300

10. Mississippi 12,000

Get more details here.