Lexus' Reign Continues Atop Dealer Surveys

First Up 11/30/20

Lexus' Reign Continues Atop Dealer Surveys

Lexus is still dealers' most-liked brand, remaining atop the rankings in the last two National Automobile Dealers Association Dealer Attitude Surveys from winter and summer 2020 and holding onto its top spot since summer 2018. Automotive News reports that Toyota, a sibling brand to Lexus, again finished in second place in both the winter 2020 and summer 2020 NADA surveys, a report card of sorts on dealers' relationships with automakers. Subaru, which ranked fourth in the summer 2019 and winter 2020 polls, jumped to third, swapping spots with Honda, which was No. 3 in the two previous surveys. Porsche returned to No. 5 in the latest poll, a spot it held in the summer survey a year ago and before falling to No. 9 in the winter 2020 results. Rounding out the top 10 in the latest survey are Kia, Mercedes-Benz, Hyundai, Ram, and Jeep, according to results NADA shared this month with Automotive News. Read more here (Source: Automotive News). 

Nissan is Trying to Bounce Back from Turmoil and Losses

Japanese automaker Nissan has a history of saving itself from the brink of disaster. Right now it is trying to repeat the trick, reports CNBC. Like all other automakers, the company is losing money from the coronavirus pandemic. But it’s also trying to recover from some self-inflicted wounds by former Nissan executives, including ex-CEO Carlos Ghosn. Now it is pulling back on production, releasing some new models and trying to regain its footing and reputation. In mid-November the automaker posted a quarterly loss of about 44.4 billion yen ($420 million). It is now expecting to lose several times that — about 615 billion yen ($5.9 billion) in the fiscal year 2020, which ends in March. That is an improvement over its original expected loss of about 670 billion yen, which is about the same amount of money it lost in the fiscal year 2019. Read more here (Source: CNBC). 

Hyundai, Kia Agree to $210 Million U.S. Auto Safety Civil Penalty

Hyundai Motor Co and Kia Motors’ U.S. units on Friday agreed to a record $210 million civil penalty after U.S. auto safety regulators said they failed to recall 1.6 million vehicles for engine issues in a timely fashion, reports Reuters. The U.S. National Highway Traffic Safety Administration (NHTSA) said the two affiliated Korean automakers agreed to consent orders after it said they had inaccurately reported some information to the agency regarding the recalls. Hyundai agreed to a total civil penalty of $140 million, including an upfront payment of $54 million, an obligation to spend $40 million on safety performance measures, and an additional $46 million deferred penalty if it does not meet requirements. Kia’s civil penalty totals $70 million, including an upfront payment of $27 million, requirements to spend $16 million on specified safety measures and a potential $27 million deferred penalty. The settlement covers recalls in 2015 and 2017 for manufacturing issues that could lead to bearing wear and engine failure. Read more here (Source: Reuters). 

U.S. Agency Investigating Tesla Front Suspension Failures

The U.S. government’s road safety agency is investigating complaints that suspensions can fail on nearly 115,000 Tesla electric vehicles, reports The Detroit News. The National Highway Traffic Safety Administration says it has 43 complaints that linkages near the ball joints can fail, allowing contact between the tire and wheel liner.  The probe announced Friday covers 2015 through 2017 Model S sedans and 2016 through 2017 Model X SUVs. The agency says 32 owners complained of failures at low speeds, but 11 said the links failed on roads while traveling above 10 mph including four at highway speeds. It says the number of complaints is increasing as the vehicles age, with 32 in the last two years. Three of the highway complaints came in the last three months. The agency says it will investigate how often the problem happens and the safety consequences. The probe could lead to a recall. Read more here (Source: The Detroit News). 

New Infiniti Chairman Plots Strategy to Improve Vehicles, Experience

Global Infiniti Chairman Peyman Kargar, just six months into leading the Japanese premium brand, is rolling out a four-pronged attack to accelerate growth, reports Automotive News. The strategy hinges on new models, new technology, better customer experience and powerful driving dynamics. Kargar is working on a new midterm plan to make it all crystalize. That road map should be finalized around April or May, but Kargar offered a sneak peek in an interview with Automotive News this month on the sidelines of the QX55 crossover unveiling. "We want to be the modern Japanese luxury brand. To do that, we have four areas to reinforce strongly in this midterm plan," Kargar said. "We are very busy now accelerating the plan." The new strategy will plot a course through 2024, coinciding with the revised midterm plan released in May by parent company Nissan Motor Co., called Nissan Next. Read more here (Source: Automotive News). 

Webinar: Maximizing 2021 Profit Through Aggressive Expense Control

Join the next AutoTalk webinar on Tuesday, December 8 at 2 p.m. EST, when Doug Austin, President of StrategicSource, a leader in spend management services for  auto dealerships, will share his expertise in expense categories that can have long-term financial impact.  

He will review in detail: 

  • Best expense planning strategies

  • Identify categories to reduce costs in 2021

  • Several new revenue generating opportunities 

  • Strategies to achieve “Sustainable cost reductions”

To register, click here. 

Around the Web

Formula 1 Driver Emerges from Flame-Engulfed Car Crash [NPR]

These Are the Most and Least Efficient New Cars in the U.S. [CarScoops]

Audi TT Gets Two Sporty Appearance Packages for the Global Range [Autoblog]

Cars Are Going Digital, But Detroit Has a Long Road Ahead [WSJ]

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