Automotive News 100 Leading Women in the North American Auto Industry
Every five years since 2000, Automotive News has put together a list of 100 Leading Women in the North American Auto Industry. It's always challenging. Twenty years ago it was hard to find enough executives with authority; this year, the challenge was choosing among hundreds of powerful female executives. Their accomplishments are exemplary, and it is with great pride that we celebrate their success and with keen interest that we watch what they will accomplish next. AIADA’s 2013 Chairwoman, Jenell Ross, is among this year’s honorees. Read about all of this year’s honorees here (Source: Automotive News).
Demand Shows COVID Resistance
It's insensitive to categorize anything that has killed more than 230,000 fellow citizens and sliced the nation's second-quarter gross domestic product by a third as a "stumble," but that's exactly what COVID-19 looks like to analysts covering the U.S. auto industry, reports Automotive News. After falling off a cliff in the spring because of the pandemic, retail demand for new automobiles in October reached a seasonally adjusted, annualized selling rate of 14.8 million in October, according to an estimate by Morgan Stanley Research. That is the retail SAAR's highest level since September 2018, when it reached 15.5 million vehicles — and almost double the 7.5 million depths plumbed in the dark days of April. Because of what the pandemic did to siphon dealer inventories and tamp down expenses, coupled with a product mix heavier on lucrative light trucks and continued strong pre-owned demand, dealer profitability is better than it's ever been. Read more here (Source: Automotive News).
Hyundai Planning a Broad Array of New N Performance Models – and Looking at Electrification Options
To focus on the “value” segment of the mainstream market, Hyundai is amping up the performance side of business with plans to launch seven N brand models during the next two years, the automaker’s North American CEO Jose Munoz confirmed Monday. The Detroit Bureau reports that Hyundai already offers the Veloster N model and will be adding at least four more in the near-term, including the N Line versions of both the Elantra and Sonata, in the next few months. A similar take on the 2022 Hyundai Tucson also is in the works, along with an even beefier Elantra N. Now, several company officials confided in conversations with TheDetroitBureau.com, they’re studying opportunities to push even further and that would likely involve electrifying future N models, whether with performance-oriented hybrid systems or even by going all-electric. Read more here (Source: The Detroit Bureau).
GM Plans to Hire 3,000 New Workers to Deepen Tech Expertise
General Motors Co. GM 3.98% plans to hire 3,000 new workers to bolster its engineering and software-development expertise, the latest auto maker to bulk up on tech talent as competition with Silicon Valley intensifies for the future automobile. GM said Monday the hiring will start now and continue through the first quarter of next year, focusing mostly on filling positions in engineering, IT and design, where the company is trying to operate more virtually in its development of vehicles. The company said it will offer more remote-working opportunities than it ever has in its effort to expand the workforce and tap talent outside of Detroit, where much of its product-development is now concentrated. Read more here (Source: The Wall Street Journal).
Honda Unifies Manufacturing Operations and R&D
Honda has announced plans to combine all of its automobile manufacturing facilities in the U.S. related to frame, engine, transmission, and related engineering and purchasing operations into one new company, to be named Honda Development & Manufacturing of America, LLC (HDMA). The new company also will integrate the automobile product development operations of Honda R&D Americas, LLC (HRA). The unification of Honda’s manufacturing operations and merger with auto product development will be effective April 1st, 2021. In addition, with the move of auto product development functions to the new HDMA company, the automobile product design and certain market research functions currently part of the HRA Los Angeles Center will be integrated into the Regional Operations of American Honda Motor Co., Inc., based in Torrance, California. Read more here (Source: PeakofOhio.com).
Webinar: Charlie's Real Time Montly Market Update
With the latest increase in COVID cases, what is the outlook for the retail car market and how did sales perform last month? Cox Automotive Senior Economist Charlie Chesbrough will present the most up-to-date, real time data for dealers during the next AutoTalk webinar on Thursday, November 12 at 2:00 p.m. EST.
Topics to be reviewed include:
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Economic forecast and impact as we close out the year
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Consumer sentiment and buying behaviors
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Stock market, interest rates, and employment
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An outlook for vehicle sales
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Current view of new and used retail sales and prices
Around the Web
Fiat Chrysler, PSA Groupe Reveal Stellantis Logo [Detroit Free Press]
Biden Presidency Likely to Mean More EVs, Auto Industry Stability [Car and Driver]
Fisker CEO Sees Real Opportunity in Electric SUV Market [Bloomberg]
