Trump's Next 5 Months Could Reshape Trade for Years
President Donald Trump is about to start on a frenetic five months of dealings and decisions that could shape his trade legacy and his chances of reelection, reports Politico. The House adjourned lastThursday, and the Senate will do so this week, without having voted on Trump’s signature trade achievement, the U.S.-Mexico-Canada Agreement. Talks between the administration and Democrats on outstanding concerns will continue in August. That potentially sets the stage for Congress to vote on the pact when it returns in September, or for Trump to revive plans to withdraw from the North American Free Trade Agreement if House Speaker Nancy Pelosi blocks action on the USMCA. The president will also push and prod — with carrots and sticks — trade talks with China, Japan and the European Union. And all this could culminate in December with the U.S. murdering the World Trade Organization’s dispute settlement system. Read more on what to expect from U.S. trade in the coming months.
BMW Q2 Results Hit by Rising Costs of Making Greener Vehicles
BMW stuck to its outlook even as second-quarter earnings fell 20 percent, hit by currency headwinds and the rising cost of manufacturing electric and hybrid cars to help the automaker meet stricter emissions limits, reports Automotive News. The company said its earnings before interest and taxes (EBIT) fell to 2.2 billion euros ($2.4 billion) in the quarter as stricter EU CO2 legislation that starts to take effect next year forces automakers to invest to build lower-emissions vehicles. Investments in property, plants and equipment rose 39 percent in the quarter as BMW retooled factories to build new models and more flexible production lines to make both electric and combustion-engine vehicles, the carmaker said. Read more here.
Toyota Spreads Its Bets Across the Transportation Spectrum
Everywhere you turn in the transportation industry these days, Toyota Motor Corp. seems to already be there, reports Automotive News. From batteries and self-driving vehicles to lunar rovers and ride-hailing companies, the world’s second-biggest automaker is on an investment spree, pouring more than $3 billion into deals and partnerships in recent years. Toyota, which reports first-quarter results Friday, is placing bets across the board, mimicking technology investors like SoftBank Group Corp. Indeed, shareholders are endorsing Toyota’s approach. The automaker’s stock rose 1 percent on Thursday, leaving it up 10 percent this year and adding $18.6 billion in market value. That’s better than the Topix index and other Japanese automakers, even amid tepid profit and sales growth. Read more here.
By Cutting Deals with California and Colorado, Automakers Sidestep Trump
The Trump administration’s plan to reduce federal fuel economy standards may have become largely irrelevant, critics said Tuesday, after Colorado became the second state in a week to reach its own agreement with four key automakers setting guidelines for the sale of zero-emissions vehicles, reports CNBC. The Colorado agreement, which echoes the one announced by California regulators, would be tougher than the planned rollback of the Corporate Average Fuel Economy, or CAFE, standards that the White House previously had outlined. It also positions California to retain its lead role in the promotion of electric- and hydrogen-powered vehicles. While many key automakers had been calling for a single, national standard, there has been little industry support for the preliminary White House plan. Read more here.
These 20 Vehicles Are the Most Stolen New Cars in the U.S.
America's love affair with horsepower and trucks apparently includes illicit activity. Powerful cars like the Dodge Charger and pickups like the Chevrolet Silverado are among the most-stolen new vehicles in the U.S., according to a new study by the Highway Loss Data Institute. USA Today reports that electric vehicles, it turns out, are among the least stolen, according to the HLDI, an affiliate of the Insurance Institute for Highway Safety. The study gauges the frequency of theft, not volume. In other words, it measures how likely your car is to get stolen, regardless of the vehicle's sales. As a general rule of thumb, newer vehicles are harder to steal than older cars because of advancements in theft prevention. But they're also more lucrative targets. Read more here.
Webinar: Tax Reform Status Update for Dealers
Join AutoTalk on Tuesday, August 20th at 2:00pm ET as Amy Stillwell and Dan Cheyney of Moss Adams’ Automotive and Dealer Services Group update dealers on:
-
Additional tax plan clarification on dealer operations
-
What we know now
-
How tax reform effects dealers
-
What you can do to minimize your taxes
Around the Web
20 of the Weirdest Cars Ever Created [USA Today]
24 of the Best Cheap Cars to Take Racing [Road and Track]
Amazon's Auto Ambitions: Taking a Look Under the Hood [Autoblog]
Sheehy Auto Stores Continue Efforts Toward Heart Health [Auto Remarketing]
