AIADA President Cody Lusk on How the Biden Administration Will Likely Impact the Auto Industry

First Up 01/19/21

AIADA President Cody Lusk on How the Biden Administration Will Likely Impact the Auto Industry

As the COVID-19 pandemic persists, and the Biden administration enters the White House, many dealers are curious to know how new government leadership will impact the automotive industry. Recently, CBT News spoke with Cody Lusk, president and CEO of AIADA, about the new administration and what priorities the association has in 2021. In Lusk’s perspective, the automotive industry is likely to see roll-backs of Trump-era procedure with regards to emissions and tariffs. The Biden administration campaigned heavily on increasing the nation’s electrification, including the support of electric vehicles and charging infrastructure. With encouragement from the administration and long-term investment from OEMs, EVs are poised to boom in popularity. Lusk also believes that auto tariff 232, which gave President Trump more unilateral authority over imports, will likely no longer be a concern. With that being said, AIADA is first and foremost concerned with helping its dealer members come through the COVID-19 pandemic. Watch and read more here (Source: CBT News). 

Inventory at 3 Million for First Time Since May

Inventory levels in the U.S. climbed back to 3 million vehicles to begin the month but still remain far below where they were a year ago, according to data compiled by the Automotive News Data Center. The total supply hasn't been at or above 3 million vehicles since May, when production in the United States was just beginning to reopen after COVID-related shutdowns, according to Cox Automotive. The aggregate figure represents a 70-day supply at the most recent selling rate. Cox derives its analysis from vAuto Available Inventory data. Increasing production levels have allowed inventory to rise about 130,000 vehicles from where it was at the beginning of December, when dealers had a 75-day supply, but stocks still remain about 590,000 vehicles below where they were at the same point a year ago, Cox says, when dealers had an 85-day supply. Read more here (Source: Automotive News). 

Patent Images Reveal Look of Next-Gen Nissan Z Car 

The Detroit Bureau reports that newly discovered patent filings by Nissan reveal what appears to be the final design for the eagerly awaited new Nissan Z-Car – and, if there are no major changes in store by the time the production model reaches showrooms, the new sports car will be a virtual clone of the Nissan Z Proto concept that was unveiled last September. There is no question that a major update is needed badly. The current version of the Z-Car has been around, with only modest updates, since 2008. But anyone who expected a major change in styling direction will be disappointed, as the automaker signaled last autumn, noting in a statement that the Z Proto “pays full respect to 50 years of Z heritage.” Few other details have leaked out about the next-generation sports car but what currently is called the 370Z is expected to be renamed the Nissan 400Z when it launches into the 2022 model year. Read more here (Source: The Detroit Bureau). 

Genesis' Delayed Relaunch Back on Track with New Crossovers, Upcoming EV 

One year ago, Genesis was throwing a big party in Miami to show off its first crossover for the U.S. market, the GV80. The upstart Korean luxury brand was also previewing a Super Bowl ad featuring celebrity couple John Legend and Chrissy Teigen and targeting established brands with a new marketing theme, "Young Luxury." Genesis and its new U.S. chief executive, Mark Del Rosso, had much to look forward to beyond the elegant midsize crossover and marketing push. A second crossover and a fully electric vehicle were deep in development, and the brand's existing three-sedan lineup was getting a heavy freshening to reflect a bolder design language. But 2020 would have none of it. Now, reports Automotive News, Genesis will try again to relaunch. And there is good news that bodes well for it: The GV80 finally arrived on dealership lots in December. The GV70 compact crossover is due midyear. The brand's still-secret EV should be unwrapped by year end. And the last of its sedan freshens, for the compact G70, is set for the first quarter. Read more here (Source: Automotive News). 

Carmaker Stellantis Shares Star in European Debut 

Stellantis, the carmaker created by combining Fiat Chrysler and Peugeot-owner PSA, enjoyed a positive start on Monday, its shares rising 8% on their European market debut and valuing the business at around 42 billion euros ($51 billion). Reuters reports that with annual production of around 8 million vehicles and revenues of more than 165 billion euros, the world’s fourth largest auto company is expected to play a key role in the industry’s jump into the new era of electrification. Stellantis will have 14 brands, from FCA’s Fiat, Maserati and U.S.-focused Jeep, Dodge and Ram to PSA’s traditionally Europe-focused Peugeot, Citroen, Opel, and DS. “We have the scale, the resources, the diversity and the knowhow to successfully capture the opportunities of this new era in transportation,” Chairman John Elkann said in a video on the Borsa Italiana website to mark the occasion. Read more here (Source: Reuters). 

Around the Web

Honda is Developing the Next HR-V Specifically for the American Market [Autoblog]

3 Cars That Won North American Car of the Year [MarketWatch]

Yes, Rolling Down Windows Can Reduce COVID Transmissions in a Car [Car and Driver]

These Companies Want to Charge Your Electric Vehicle as You Drive [WSJ

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