Automakers Around World Await Trump Tariff Decision
Automakers around the world are awaiting a decision from U.S. President Donald Trump on whether he will impose up to 25% tariffs on U.S. car and auto part imports after a 180-day review period elapsed this week. Reuters reports that Trump was briefed ahead of the expiry of the self-imposed deadline, which he set in May, to decide whether to again extend a review or impose tariffs that automakers have warned could cost jobs and dramatically boost vehicle prices. “I’ll make a decision fairly soon. I was fully briefed and I’ll make a decision fairly soon,” Trump said on Wednesday. Officials from major automakers told Reuters they believe Trump will not impose new levies on vehicles from the European Union, Japan, or elsewhere amid a trade war with China. Trump could make an announcement on Friday, but nothing is final until he signs off, administration officials say. Read more here.
These Are the 10 Most (and Least) Reliable Cars of 2020
Want a reliable car? A little patience could pay off. It might sound counterintuitive, but the latest redesigned car model may not hold up as well on the road as versions that come out a year or two later when the early kinks have been worked out. According to USA Today, that's one of the takeaways from the annual Consumer Reports Auto Reliability Survey released Thursday. Though redesigned vehicles and brand-new models often fetch headlines and social media buzz, the old stalwarts are typically more likely to hold up well on the road. "When you redesign a new vehicle, often you get better fuel economy, better safety, potentially better features," said Jake Fisher, senior director of auto testing for Consumer Reports. "But if you want ... reliability, your best bet is to wait a year or two until those initial growing pains have been worked out." Click here to find out which vehicles are Consumer Reports’ most reliable this year.
Nancy Pelosi Says a USMCA Trade Deal Breakthrough Could Be 'Imminent'
House Speaker Nancy Pelosi indicated progress Thursday toward a final agreement on President Donald Trump’s North American trade deal replacement. According to CNBC, House Democrats have negotiated with the Office of the U.S. Trade Representative as they push for better tools to enforce labor and environmental standards under the United States-Mexico-Canada Agreement. Speaking to reporters, the California Democrat said “we are moving positively” toward a deal. “I do believe that if we can get this to the place it needs to be, which is imminent, that this can be a template for future trade agreements. A good template,” Pelosi said. The White House aims to pass USMCA, its replacement for the North American Free Trade Agreement, by the end of the year as the 2020 election looms. The House has a lot on its plate before then: it has to pass government funding to avoid a shutdown, and it will push forward with its impeachment probe into Trump. Read more here.
Volkswagen Breaks Ground on Plant Expansion for U.S.-Made Electric Cars
Volkswagen has broken ground on an $800 million expansion of its Tennessee production facility that will eventually house assembly lines for electric vehicles, reports Green Car Reports. The Wednesday announcement marks the beginning of a shift toward battery-electric vehicles for the U.S. market. While Americans will not see this generation of VW's new ID 3 battery-electric hatchback, the lines that will eventually be built in this 564,000-square-foot facility will be tooled for the production of American-market electric vehicles. "This is a big, big moment for this company," said VW of America CEO Scott Keogh. "Expanding local production sets the foundation for our sustainable growth in the U.S. Electric vehicles are the future of mobility and Volkswagen will build them for millions, not just millionaires." The addition is expected to bring in 1,000 new jobs, and VW will continue to expand the Chattanooga site in order to accommodate demand for future products. A forthcoming 198,000-square-foot addition will house production of battery packs for the vehicles that will eventually be built there. Read more here.
GM Dealers Still Feeling Impact of 40-Day Strike
General Motors Co. dealers are still dealing with the aftereffects of a six-week strike by the United Auto Workers. According to The Detroit News, three weeks after the walkout ended, dealers have begun getting some of the parts needed for service departments and body shops. And though the inventory of new cars and trucks remained fairly robust during the shutdown, some dealers are concerned about a lag in new deliveries as production gets back up to speed and car-haulers make their way to showrooms. The UAW's national strike against GM shut down 55 facilities across the U.S., stopping production of parts and an estimated 300,000 new vehicles, costing GM nearly $3 billion. GM dealers say they took hits to their bottom lines on both the sales and service sides. At Motor City Buick GMC in Bakersfield, Calif., new-vehicle sales were down 8% in October and are expected to be off 8% this month. Read more here.
Webinar: How to Protect Your Used Car Margins
AutoTalk's car gurus are back!
On Tuesday, November 19th at 2:00 p.m. EST, tune in as Bob Grill, Carfax Senior Partner Development Manager, along with Automotive Consultant Mike Rossman deliver a robust presentation detailing how to:
-
Drive buyers, not just traffic
-
Create better listing descriptions
-
Skillfully win more trades
-
Increase your closing ratio while holding your gross margins
Around the Web
These Are the Shortest-Stopping Cars We've Ever Tested [Car and Driver]
These 3 Hot SUVs Could Blow the Doors Off the LA Auto Show [USA Today]
