Toyota Cuts Production Target by 3% on Parts and Chips Shortages

First Up 09/10/21

Dealers Do Good 

Dealers have long been supporters of the communities they serve, contributing time and money to local organizations that make a difference. AIADA is recognizing these outstanding contributions through our #DealersDoGood campaign. If you know of a dealer doing good (or if you’re one of them!), let us know here or tag us on Twitter or Facebook and use the #DealersDoGood hashtag. 

Allen Turner Hyundai in Pensacola, Florida, kicked off Childhood Cancer Awareness Month with the Hyundai Hope on Wheels "Handprint Ceremony" Wednesday afternoon. The event kicked off with Allen Turner Hyundai's very own Toni Bass (5 year old Medulloblastoma Survivor) had the honor of placing the first handprint. Hyundai and its U.S. dealers created Hyundai Hope On Wheels in 1998. From the sale of every new vehicle, a donation is made to fight cancer. To date, more than $185 million and over 1,000 research grants has gone to support research at children’s hospitals across the nation. Read more here (Source: WEAR-TV). 

Mazda of Orland Park in Orland Park, Ilinois, recently raised over $32,000 for the Chicago White Sox Charities, bringing the organization’s eight-year raffle total to $305,670. The Chicago White Sox Charities supports non-profit organizations in Chicago and the surrounding communities, including efforts aimed at cancer research and treatment, children and families in crisis, health and wellness, youth education and more. Read more about the program here.

Subaru of Rochester in Rochester, Minnesota, is supporting classrooms and students in the area through a larger Subaru of America, Inc. (SOA) initiative called Subaru Loves Learning. Teaming up with philanthropic partner, Subaru of Rochester will supply Franklin Elementary School with the resources necessary for students to learn and grow in the classroom. In addition to helping teachers purchase supplies and materials for their students, Subaru of Rochester is proudly displaying the art work from 1st through 4th graders from Franklin Elementary School. Click here to check out some pictures of the displayed artwork.  

Toyota Cuts Production Target by 3% on Parts and Chips Shortages

Toyota Motor Corp cut its annual production target by 300,000 vehicles on Friday as rising COVID-19 infections slowed output at parts factories in Vietnam and Malaysia, compounding a global shortage of auto chips, reports Reuters. "It's a combination of the coronavirus and semiconductors, but at the moment it is the coronavirus that is having the overwhelming impact," Kazunari Kumakura, an executive at the world's biggest car maker, said after the company revised its production target. The Japanese carmakers' announcement on Friday is a further sign that no part of the global car industry has escaped the affects of a pandemic that has sapped sales and is hobbling their ability to take advantage of the recovery in demand that followed the initial waves of COVID-19. Read more here (Source: Reuters). 

Hurricane Ida's Destruction Adds to Car Market's Woes

The flooding damage wrought by Hurricane Ida last week is expected to send car owners back to dealerships to replace vehicles. The timing couldn’t be worse, reports The Wall Street Journal. For much of this year, the U.S. auto industry has been grappling with a devastating chip shortage that has cut production at dozens of U.S. car factories and left dealerships with little to sell. Now, those who lost vehicles during the storm are suddenly being thrust into a market where competition for available cars and trucks is already brutal and prices are at record levels. Used-car inventories also are squeezed, as more buyers are turning to preowned vehicles, unable to find what they want on the new-car lot. “I don’t know where the replacement cars will come from,” said Judith Schumacher-Tilton, president of Schumacher Auto Group, which owns five Chevrolet stores in northern New Jersey.  Her dealerships were spared damage, but tow trucks have been arriving this week, dropping off flood-damaged cars from customers. Read more here (Source: The Wall Street Journal). 

Mills Automotive Group Acquires Dealerships in Virginia

Mills Automotive Group of Charlotte, N.C., has purchased three dealerships in Hampton, Va., from Tysinger Motor Co., owned by Mark Tysinger. Automotive News reports that the acquisition, which closed on Aug. 31, included Mercedes-Benz of Hampton, Audi Hampton, and Tysinger Hyundai-Genesis, plus a Mercedes-Benz Sprinter commercial van franchise. The Tysinger dealership business started nearly 100 years ago when John Tysinger, great-grandfather of Mark Tysinger, opened a General Motors dealership in 1926. Tysinger, in a statement, said it wanted to find a buyer to enhance its long-standing legacy in the community. "These franchises complement our growing dealership group," Damian Mills, CEO of Mills Automotive, said in a statement. "His [Mark Tysinger's] stellar mix of franchises in the diverse and growing Hampton Roads region is a perfect fit for our continued geographic and brand expansion." The group of stores will now operate as Classic Hampton Auto Mall, according to the Mills Automotive Group website. Read more here (Source: Automotive News). 

Concept Cars Rule at the Debut Munich Motor Show

There was plenty of buzz at the first-ever Munich Motor Show about all the battery-electric vehicles making their debut — but a look at the long list of debuts reveals that the show was also notable for the number of concept vehicles on display, reports The Detroit Bureau. And where many of the show cars we’ve seen in recent years were simply thinly disguised variants of upcoming production vehicles, some automakers brought more classic, fantasy-in-chrome concepts to Munich. These included the updated version of the Mercedes-Benz Vision AVTR with technology allowing the driver to operate vehicle functions simply by thought. Also, the second of three futuristic concepts Audi is rolling out, the all-electric, fully autonomous Audi Grandsphere can be seen as a four-wheeled luxury jet — or, a “first class lounge” on wheels. Read more here (Source: The Detroit Bureau). 


Around the Web

2022 Genesis G80 is More Expensive, Adds Sport Model with Rear-Wheel Steering [Autoblog

Polestar Wants to Make Electric Cars in a Way Volvo Can't [Autoweek

An Infamous Low Bridge in Pennsylvania Just Destroyed Two Cars in Shipment [Jalopnik

Used Car Prices Are Still Revved Up [Money Scoop]