Frederick 'Fritz' Hitchcock, Veteran Toyota Dealer, Dies at 81
Frederick "Fritz" Hitchcock, the veteran California megadealer and longtime Toyota retailer who once served as chairman of the American International Automobile Dealers Association, has died. He was 81. Hitchcock, CEO of Hitchcock Automotive Resources, died Saturday after a fall on Friday evening, reports Automotive News. Hitchcock opened his first car dealership in 1971 and founded Hitchcock Automotive Resources in City of Industry, Calif., in 1979 to oversee his growing network. Hitchcock was a prominent dealer advocate in Washington and served as chairman of AIADA's board of directors. In 2016, AIADA named its Grassroots Leadership Award after him. He was also a co-founder of the Automotive Free International Trade Political Action Committee. “Fritz Hitchcock was a true icon of our industry. His leadership and generosity were unrivaled," AIADA CEO Cody Lusk said. "He fought tirelessly on behalf of his fellow dealers, leading the charge by engaging legislators and policymakers on the issues that mattered most to their livelihoods. It is impossible to overstate how deeply his loss will continue to be felt – not just by those of us who were privileged to know him – but by the entire industry." Read more here (Source: Automotive News).
Toyota, Honda Criticize Senate Proposal Tying EV Tax Credits to Union Workers
Toyota Motor Corp., American Honda Motor Co., and other non-union industry advocates are criticizing a proposal in Congress that would tie additional EV tax credits for consumers to vehicles assembled in unionized U.S. factories, reports Automotive News. The legislation — dubbed the Clean Energy for America Act — was advanced by the Senate Finance Committee in May and includes a provision led by Democratic Sen. Debbie Stabenow of Michigan that would allow car buyers to receive as much as $12,500 for EVs assembled by union workers at U.S. factories. In a statement last week, Honda called the proposal unfair and discriminatory, arguing that favoring EVs built by union workers will limit consumer choice. "Our production associates in Alabama, Georgia, Indiana and Ohio deserve fair treatment from Congress and should not be penalized for their choice of a workplace," Jennifer Thomas, Honda's vice president and business unit leader of corporate affairs, said in a statement. Read more here (Source: Automotive News).
General Motors to Replace Battery Modules for Some Bolt Electric Vehicles After Fire Risks
Automaker General Motors Co said it will replace all battery modules in some Chevrolet Bolt electric vehicles (EVs) under a recall announced last month, reports Reuters. The module replacements, which could start as early as later this month, come after GM recalled its 2017-2019 model year Bolt battery-powered cars for the second time in less than a year. Two fire incidents were reported after the initial recall, including one in a Bolt that had updated software. GM, the largest U.S. automaker, said in a statement issued on Monday it would replace recalled vehicles' lithium ion battery modules with new modules, rather than replacing entire battery packs. "The battery pack case, wiring and the other pack components are not defective and do not need replacing," it said. Read more here (Source: Reuters).
Tesla Shares Fall After U.S. Regulators Launch Formal Investigation Into Autopilot System
Federal vehicle safety regulators have launched a formal investigation into Tesla’s Autopilot system following a series of crashes that have left at least 17 people injured and one dead, according to documents filed by the National Highway Traffic Safety Administration. CNBC reports that autopilot is Tesla’s limited self-driving feature that still requires a human to operate. Since January 2018, the NHTSA said it had identified 11 crashes where Tesla vehicles have “encountered first responder scenes and subsequently struck one or more vehicles.” The report, which was posted Monday, covers an estimated 765,000 Tesla vehicles across models built between 2014 and 2021. Tesla shares closed down 4.32% on Monday following the NHTSA announcement. Read more here (Source: CNBC).
The Hottest Used Vehicles Right Now Are EVs and Sporty Cars
While there are signs that the used-car market is just beginning to stabilize, you’ll still need to be extra diligent to find a used vehicle that meets your needs and remains within a buyer's budget, reports Forbes. The online marketplace iSeeCars.com just compiled their list of the fastest selling used vehicles in July, based on an analysis of over 1 million transactions conducted last month. The nameplates represented here may surprise you, with three of the five best-sellers being full-electric vehicles, and 10 out of the 20 hottest sellers being electrified to some degree. Forbes is featuring the full list with the average selling prices and days to sell. Read more here (Source: Forbes).
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