Beltway Talk: Hyundai's Rob Hood on Policy, Innovation, and the Opportunities of 2021
Rob Hood, Hyundai’s Vice President of Government Affairs, joins Beltway Talk to discuss his background as a Washington veteran and what he brings to his position with Hyundai. With over 30 years of experience across the government and private sectors, Hood tells dealers about the policies on his radar this year with new leadership in Washington, as well as the biggest challenges he encountered while joining Hyundai’s D.C. office in the middle of a pandemic. Listen to the podcast, and subscribe to future episodes, here.
Biden to Order Review of U.S. Supply Chains with Early Focus on Autos
President Joe Biden will issue an executive order Wednesday directing a review of U.S. supply chains with a special focus on key sectors affecting the U.S. auto industry, including semiconductor manufacturing, high-capacity batteries used in electric vehicles and rare earth minerals. According to The Detroit News, the supply chains for these three "critical sets of products" — as well as the supply chain for medical supplies, which struggled with shortages early in the COVID-19 pandemic last year — will be subject to a 100-day review, administration officials told reporters Tuesday evening during a background call. The order will also direct agencies to complete sector-specific reviews in defense, public health, communication technology, transportation, energy, and food production within one year. Read more here (Source: The Detroit News).
IIHS' Highest Safety Picks Double Despite Tougher Criteria
The 2021 Hyundai Palisade qualifies for the Insurance Institute for Highway Safety's highest safety honor, the Top Safety Pick+ award, reports Automotive News. The number of vehicles earning the Insurance Institute for Highway Safety's highest safety honor more than doubled for 2021 models, even as the group continues efforts to strengthen its award criteria. Forty-nine vehicles received the Top Safety Pick+ award this year, compared with 23 vehicles at this point in 2020. Another 41 vehicles earned the Top Safety Pick designation, bringing the total number of winners to 90, compared with 64 a year earlier, according to the institute's initial list of 2021 model award winners. IIHS said it will continue to test models throughout the year and will likely add to the list of winners. Read more here (Source: Automotive News).
Hyundai Will Replace Battery Systems in $900M Global EV Recall
Hyundai will replace battery systems in 82,000 electric vehicles globally due to fire risks – a costly $900 million recall that lays bare the thorny issue of how car and battery makers split the bill when problems arise. The recall is one of the first mass battery pack replacements conducted by a major automaker, reports Automotive News. "It's very significant for both Hyundai and LG as we are in the early stages of the electric vehicle era. How Hyundai handles this will set a precedent not just in South Korea but also for other countries," said Lee Hang-koo, senior researcher at the Korea Institute for Industrial Economics & Trade. The recall mostly concerns the Kona EV, Hyundai's biggest-selling electric car which was first recalled late last year for a software upgrade after a spate of fires. One of the recalled Kona EVs caught fire in January, however, and South Korean authorities launched a probe into whether the first recall had been adequate. Read more here (Source: Automotive News).
Suzuki Motor's 91-Year-Old Chairman Waves Goodbye After Decades-Long Career
Suzuki Motor Corp’s 91-year old chairman, Osamu Suzuki, announced he will retire in June, stepping aside for a new leader to navigate the shift to electric cars and fight off competition from tech firms such as Tesla and Apple, reports Reuters. The chairman, after heading the company for more than four decades that his wife’s grandfather founded, is leaving his son Toshihiro Suzuki, already president and CEO, to hold the reins of the company. Osamu told reporters on Wednesday he decided to retire after the company welcomed its 100th anniversary last year and the approval of its new management plan. But he said he will “remain active” as an adviser. Read more here (Source: Reuters).
10 Ways Dealerships Can Keep on Dealing
The automotive industry, like most industries, has been affected by this economic and health crisis. But there are still many great ways you can not only keep doing business—but thrive, even when your day-to-day has changed so drastically. Customers are much less likely to drop in, and they may not even know if they’re allowed to buy a car right now. In some states (but not all), car dealerships are still open; some with even the strictest lockdowns are classifying dealerships as essential businesses.
The good news is that some dealerships are still doing great, thanks to some adjustments and innovative thinking. In addition to our local business guide to COVID-19, we’ve compiled a list of some of these ideas that specifically dealerships across the country have implemented. Here’s what we’ve found. Keep reading here.
Around the Web
U.S. Postal Service Awards Billion-Dollar Truck Contract to Oshkosh [Autoblog]
Tampa Dealer Group Adds SureSale to Used Vehicles to Help Bost Peace-of-Mind [Auto Remarketing]
Foxconn to Build Cars for Electric-Vehicle Startup Fisker [WSJ]
Kia Unveils 2022 Carnival as New SUV-Inspired Minivan with VIP Lounge Seating [CNBC]
