Dealers: Your Vote Matters
On this Election Day, Jason Courter has a special message for dealers on the importance of voting in this election. Watch it and explore the resources AIADA has available to help you make an informed choice at the polls. Then, please share it with your colleagues and employees. Vote. Because your voice matters.
AIADA President Cody Lusk, Chairman Jason Courter Talk AIADA's 50th Year, Trade, and the Election
This year AIADA celebrates its 50th anniversary. The association’s dedication to free trade still holds true 50 years later. Cody Lusk, AIADA President and CEO, and AIADA’s Chairman and the COO of Bellevue Honda, Jason Courter, joined CBT News on Monday to discuss AIADA’s 50th year, its commitment to free trade, and what today’s elections mean for dealers. Many may not be aware, but when it comes to import dealers, there are 9,500 international dealership franchises who sold 9.1 million vehicles to American consumers in 2019. This represents 56% of the U.S. retail vehicle market. Watch the interview here (Source: CBT News).
Reuters Factbox: A Second Trump Term could Mean Fewer Regulations, More Trade Wars
If U.S. President Donald Trump secures a second term in the White House, look for an auto emissions battle with California and a bid to downsize Big Tech, reports Reuters, in its look at how key industries would be impacted by a second Trump term. A Trump re-election would leave U.S. automakers caught in the crossfire of a war over climate policy between Washington and the state of California. During his first term, Trump put pressure on Detroit automakers to step up investments in the United States, attacking General Motors Co and Ford Motor Co for decisions to close plants, or invest in China and Mexico. Trump periodically threatened German automakers with tariffs. His steel and aluminum tariffs raised costs for U.S. automakers. “If Trump wins, he will see the election as a validation of his strategy on trade policy, including his use of tariffs, and will certainly continue to follow this strategy with China,” said Jonathan Gold, National Retail Federation Vice President for Supply Chain and Customs Policy. Read more here (Source: Reuters).
Crossovers Drive Hyundai to Oct. Sales Gain
Hyundai's U.S. sales edged up 1 percent to 57,395 in October behind a second consecutive month of double-digit growth in retail deliveries, in the latest sign the market continues to claw back amid the coronavirus pandemic. Automotive News reports that retail demand, driven by an expanded crossover lineup, rose 10 percent to 52,117 last month while fleet sales fell 45 percent, Hyundai said. “The automotive retail market continues to show resiliency,” said Randy Parker, vice president for national sales at Hyundai Motor America. Toyota Motor Corp., Honda Motor Co., Subaru, Kia, Mazda, Volvo and Genesis are scheduled to report October sales later Tuesday. The rest of the industry releases U.S. sales results on a quarterly basis. Read more here (Source: Automotive News).
Toyota Reveals Four Custom Concepts During Virtual SEMA Show
Like all but a handful of traditional automotive events, the SEMA Show has gone virtual this year to cope with the COVID-19 pandemic – but that hasn’t stopped some automakers, notably Toyota, from rolling out some cool custom concepts during a virtual version of the annual aftermarket event. According to The Detroit Bureau, the Japanese automaker has been a regular attendee at SEMA, using the event as a way to build excitement for a brand often dismissed as vanilla. That would be a difficult description to apply to the four concepts it revealed on Monday – with Toyota planning to roll out a “second wave” of SEMA concepts “in the coming weeks.” This first batch includes a serious off-roader that could allow the Tacoma pickup to go still further off into new territory. The other three models unveiled Monday each offer a different take on Toyota’s Supra sports car. Read more her here (Source: The Detroit Bureau).
Webinar: An Update on COVID-19's Impact on U.S. Auto Sales
Cox Automotive Senior Economist Charlie Chesbrough returns to AutoTalk on Thursday, November 12 at 2:00 p.m. EST for an update.
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
Famous Cars of the Presidents [Autoblog]
The Coolest Cars from the Year You Were Born [Yahoo! Finance]
Car Company That Claimed Speed Record Will Do It Over [CNN Business]
Presidential Limos Not Always the "Beast" Carrying Around 45 [The Detroit Bureau]
