AIADA Launches Awareness Campaign to Highlight Discriminatory EV Tax Credit
AIADA has launched an awareness campaign to highlight the employment and environmental consequences that will result from the severe limitations of a proposed new tax credit for electric vehicles (EV). “There are more than 50 EV models sold in the U.S., but Congress’s proposed new $4,500 tax credit will apply to only five union-made cars,” said Cody Lusk, president and CEO of AIADA. “This rule undermines consumer choice and competition, it treats non-union autoworkers and international dealers unfairly, and it absolutely runs counter to the goal of an EV tax credit, which is reducing carbon emissions by getting as many green vehicles on the road as possible.” AIADA’s campaign will bring attention to the consequences of this unfair tax credit proposal, including that fewer EVs will be sold because of the severe restrictions of the EV tax credit; it will threaten the livelihoods of American workers; and it will benefit some regions of the country at the expense of others including southeastern states like Alabama and Georgia. Read the full press release here.
Cox Expects Sept. Sales Volume to Fall to Lowest Since Great Recession
U.S. light-vehicle sales volume this month will fall to its lowest September level since the Great Recession as the ongoing global microchip shortage continues to deplete inventory, according to a forecast by Cox Automotive. According to Automotive News, Cox predicts that sales volume will drop to 1 million units in September, down 26 percent from a year earlier. The last time September volume fell below 1 million was in 2009. There have only been three months of below 1 million volume in the past decade, according to Cox. Many U.S. automakers plan to report September and third-quarter light-vehicle sales on Friday, as they continue to idle plants intermittently to redirect chips. Ford Motor Co. reports on Monday, Oct. 4, and Daimler reports later next week. Read more here (Source: Automotive News).
Cars on American Roads Keep Getting Older
The average age of vehicles on U.S. roads has been rising for decades as cars grow ever more durable — and expensive, reports CNBC. The average age of a car on U.S. roads rose to 12.1 years in 2021, according to IHS Markit. The average age had been 11.9 years in 2020. In 2002, the average age was 9.6 years. There was a time when drivers didn’t expect to get more than 100,000 miles out of their cars at the most. These days, however, it is not unheard of for cars to last 200,000 or more. Car shopping site iSeeCars publishes a list of the longest-lasting cars on the road. Recently, it found that 16% of the Toyota Land Cruisers on the road have at least 200,000 miles on them. Meanwhile, at least 2.5% of several other models — from car makers including Toyota, Honda, and General Motors — also have at least 200,000 miles on their odometers. Read more here (Source: CNBC).
CEO Del Rosso Splitting from Genesis North America
After helping the brand to grow during his tenure, Genesis Motor North America CEO Mark Del Rosso is leaving the company after a three-month hiatus for personal reasons, reports The Detroit Bureau. Claudia Marquez, Hyundai Mexico CEO, is taking over daily operations at the luxury brand, while reporting to Jose Muñoz, who heads up Hyundai North America. Marquez is assuming the dormant role of chief operating officer for the luxury brand. Del Rosso led the brand during a period of expansion, in terms of product and sales. He joined the brand in October 2019, coming over from Audi of North America. Marquez shifts over from her role as CEO of Hyundai Mexico, which she named to in 2019, to handle strategy and execution of all sales, after-sales, marketing, and growth strategies for Genesis, the company said. Read more here (Source: The Detroit Bureau).
Ford to Spend $7B on EV Campuses in Ky., Tenn.
Ford Motor Co., in what it says is the largest single manufacturing investment in its 118-year history, on Monday said it would spend $7 billion and create nearly 11,000 jobs to build electric vehicles and batteries in Tennessee and Kentucky, reports Automotive News. The investment, meant to vault Ford among the leaders in EV output, will include a 3,600-acre "mega campus" northeast of Memphis called Blue Oval City that will include Ford's first new vehicle assembly plant in more than 50 years. The site — three times the size of the automaker's sprawling Rouge Complex in Michigan — will hire about 6,000 people to assemble next-generation electric F-Series pickups and include battery cell production and a supplier park, Ford said. It's expected to open in 2025. Read more here (Source: Automotive News).
CNA National Lands Record Three Awards in Dealers' Choice Competition
CNA National has been named a top F&I provider for 17 consecutive years in the 2021 Dealers’ Choice Awards, earning a first-place Diamond award for Vehicle Service Contracts, a second-place Platinum award for Reinsurance, and a third-place Gold award for F&I Products. Dealerships nationwide have voted the company number one every year since the competition began in 2005. To date, CNAN has received a total of 31 recognitions, making it the most-awarded F&I company by far. This is the first year CNAN has earned an award in the F&I Products category, due in large part to the release of its ancillary suite only two years ago. “We are honored to once again be named the number-one VSC provider by dealerships,” said Joe Becker, president and CEO of CNA National. “Adding a win in F&I Products to our list of accolades is a real victory, in addition to our 13 reinsurance and 17 VSC awards. All of this together goes a long way to demonstrate that dealers trust this company to deliver value and consistency for their customers.” To work with this top-rated provider, call (800) 345-0191 x450 or click here.
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Here Are the Cars You Think Improved the Most from One Generation to the Next [Jalopnik]
The Great Car-Chip Shortage Will Have Lasting Consequences [WSJ]
Volvo Changes 'Iron Mark' Logo to Fit with the Times [Autoblog]
