Beltway Talk Podcast: Charlie Chesbrough's Spring Sales Round Up
In the newest episode of AIADA’s Beltway Talk podcast, Cox Automotive’s Charlie Chesbrough offers listeners an overview of the 1st quarter of 2021, and some idea of what the rest of the year holds for the auto retail industry. Charlie touches on what he sees happening in the EV market, why he anticipates the second half of the year will be a busy one, and what dealers and consumers can expect in terms of supply. This is a must-listen episode for anyone wanting a big-picture view of auto retail sales. Listen and subscribe to future episodes here.
Honda to Extend Production Stoppages at Some North American Plants
Automotive News reports that Honda Motor Co. said on Tuesday it will extend production suspensions at some North American plants into the week of March 29 due to various supply chain issues. Last week, the Japanese automaker said a variety of issues would force it to halt production at a majority of North American plants for the entire week of March 22 and impact production at the remainder of its North American plants. Honda cited "impact from COVID-19, congestion at various ports, the microchip shortage and severe winter weather" for the production cuts. Last week, Toyota Motor Corp. said it was cutting production at four plants in Kentucky, West Virginia and Mexico, citing “a shortage of petrochemicals” and “recent severe weather conditions” affecting production. Read more here (Source: Automotive News).
Toyota, Isuzu Revive Capital Tie-Up with Focus on Connected Trucks
Toyota Motor Corp and Isuzu Motors Ltd announced a capital alliance on Wednesday, reviving a partnership to bolster their competitive edge in connected, commercial vehicles, reports Reuters. Toyota truck unit Hino Motors Ltd will join in the pact to jointly develop commercial trucks of the future, including connected vehicles and fuel cell technologies, the automakers said. Toyota and Isuzu in 2018 dissolved a previous, 12-year capital tie-up, which had focused on diesel engines. The move on Wednesday comes as traditional automakers face growing competition from tech giants and other rivals developing electric and driverless cars. Toyota Motor President Akio Toyoda said the push for electric vehicles gave the companies a reason to get together again. Read more here (Source: Reuters).
Hyundai Faces Production Disruption from April Due to Chip Shortage, Report Says
A widespread chip shortage affecting automakers is expected to disrupt production at Hyundai Motor Co. from April, reports Automotive News. Hyundai had been able to avoid a hit from the shortage so far largely because it maintained a stockpile of chips unlike its global peers, Reuters reported last month. A Hyundai spokesperson told Reuters the company was aware of the auto industry's rising concerns over chip supplies, and that it was closely monitoring the situation to take necessary measures and optimize production in line with the supply conditions. Hyundai had been adjusting production of its weaker-selling models such as the Sonata to save chips, a union official told Reuters in February. Read more here (Source: Automotive News).
Renault Lays Plans for Spanish Hybrid-Vehicle Hub with New SUVs
Renault SA Chief Executive Officer Luca de Meo plans to make Spain the center of its push to produce more hybrid vehicles, reports The Detroit News. Renault will make new engines and two SUV models at its Valladolid factory, three new vehicles at its Palencia plant and new gearboxes in Seville, the CEO said during a visit to the country on Tuesday. The carmaker said it will create 1,000 jobs in Spain through 2024. The country will become a hub for “hybridization and electrification,” de Meo said. “Hybrid and plug-in hybrid vehicles will have a 35% market share in Spain in 2025.” Renault is under pressure to turn its fortunes around after a record annual loss and a pandemic-induced slump in car sales since the start of the year. De Meo in January set goals to gradually return to pre-pandemic earnings performance, with a focus on catching up to rivals in the more lucrative SUV market. Read more here (Source: The Detroit News).
Around the Web
Subaru Readies a More Rugged Outback [MotorAuthority]
Used Volvo V70 Wagon for $20M Includes New York 'New York' Vanity Plate [Autoblog]
Jeep Plans to Go from Gas-Guzzling SUVs to 'Green' Off-Road Electric Vehicles [CNBC]
New Toyota App Helps Ensure Correct Car Seat Installation [The Detroit Bureau]
