Mazda, Suzuki, Yamaha Cheated on Fuel Economy, Emissions Testing

First Up 08/09/18

Trade Security Act Garners Auto Industry Support
Automotive industry organizations are lending support to a measure designed to reform the tariff process under Section 232 of the Trade Expansion Act of 1962 and increase congressional oversight, reports Financial Regulation News. Sen. Rob Portman (R-Ohio) said his Trade Security Act holds countries that violate U.S. trade laws accountable in a manner that protects American jobs and strengthens the nation’s economy. The bill would require the Department of Defense, rather than the Department of Commerce, to justify the national security basis for new Section 232 tariffs and addresses concerns that misuse of law will harm jobs and the economy and likely result in a loss of this trade remedy tool. Cody Lusk, president and CEO of the American International Automobile Dealers Association, said the legislation prevents the misuse of Section 232 tariffs as a negotiating tactic. “Small businesses, like dealerships, are not national security threats, treating them as such threatens hundreds of thousands of American jobs, billions of dollars in auto sales and repairs and auto investment here in the U.S.,” he said. Read more here. 

Mazda, Suzuki, Yamaha Cheated on Fuel Economy, Emissions Testing
Mazda, Suzuki, and Yamaha improperly tested vehicles for fuel economy and emissions, the Japanese government said on Thursday, in the latest cases of data falsifications by the nation's manufacturers. According to Automotive News, the government had ordered the automakers to make checks after revelations of improper testing at Subaru and Nissan last year. Suzuki, Mazda, and Yamaha cleared vehicles for emissions or fuel efficiency even in cases where they were tested under invalid conditions, the ministry said in a statement. The ministry looked at tests done for different periods at the three automakers, stretching back to 2012 in Suzuki's case. The ministry said it found irregularities in 4 percent of similar inspections on Mazda cars, and in 2 percent of inspections on Yamaha motorbikes. Read more here. 

Report: SEC Examining Elon Musk Tweets About Taking Tesla Private
Tesla CEO Elon Musk could be the subject of a new investigation by the Securities and Exchange Commission (SEC) following his Tuesday tweet saying he wanted to take the electric car company private. The SEC has inquired with Tesla about Musk’s tweet and the regulator is studying if Musk's statement in the tweet was truthful, reports USA Today. According to news reports, the SEC inquired why Musk made the disclosure on Twitter. The SEC’s inquiries originated from its San Francisco office and suggest Tesla might come under an enforcement investigation "if regulators develop evidence that Mr. Musk’s statement was misleading or false." But it said it was unclear whether the regulator had opened a formal enforcement investigation. Read more here. 

No Need to Buy a Cadillac, Mercedes-Benz, or Volvo When You Can Simply Subscribe
Over two weeks, Chris Woodyard at USA Today tried out two SUVs and a hot station wagon that are part of the Book by Cadillac subscription program. Cadillac was one of the first with a program, but the notion has caught on. Now Mercedes-Benz, BMW, Porsche, Hyundai, and Volvo are among those adding subscriptions to leasing and straight-out sales as ways to move cars off lots and into customers' hands. Automakers agree that subscription customers tend to be younger than other buyers, having come to wealth earlier in their lives. But subscription services aren't cheap. No matter how they are structured, they can be far more expensive than buying or leasing. But there's hope as automakers refine their programs. BMW introduced a new, lower tier at $1,099 a month, and it dramatically lowered the price of its upper levels. The mid-level tier, for instance, is now $1,399 a month, down from $2,000. By no means cheap, but certainly less. Read more here. 

Southern Fla. Subaru Store Partners with Leukemia & Lymphoma Society to Help Cancer Patients
Throughout June and last month, Florida’s Subaru of Pembroke Pines and The Leukemia & Lymphoma Society's (LLS) Southern Florida Chapter took part in the Subaru Loves to Care initiative for a third consecutive year to provide gift bags to patients who are currently battling cancer this summer. According to Auto Remarketing, Subaru Loves to Care, Subaru of America's 2-year-old health-concentrated initiative, has helped LLS and Subaru bring blankets and arts and crafts kits to about 70,000 patients at over 400 hospitals. In a news release, Craig Zinn, president and chief executive officer of Craig Zinn Automotive Group, which owns Subaru of Pembroke Pines said, “We are happy to once again work with our valued community partner, The Leukemia & Lymphoma Society's Southern Florida Chapter. Through the Subaru ‘Loves to Care’ health-focused initiative we can continue to support patients and their families battling cancer, and together help improve the well-being of our local communities.”  Read more here.

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