Toyota Plans to Add Hundreds of Jobs at Kentucky Plant, Offers Signing Bonus

First Up 10/16/19

Toyota Plans to Add Hundreds of Jobs at Kentucky Plant, Offers Signing Bonus
Toyota plans to add 400 workers as soon as possible to its plant in Georgetown, Ky., the Japanese automaker announced Tuesday. The Courier-Journal reports that new hires at the plant, which is Toyota's largest in the world, will receive a $500 signing bonus if they remain on the job for at least six months, according to Toyota spokesman Rick Hesterberg. The new jobs will start pay at $18.07 and $18.98 per hour for the plant's day and night shifts, respectively. Hesterberg said workers can eventually earn up to $29 per hour. According to Hesterberg, this is the first time Toyota has offered a signing bonus for new hires. He said it is "an incentive to attract people to our company and to a career in manufacturing." This is the latest announcement in what has been a busy year for Toyota's Kentucky plant. In March, the automaker announced it would invest $238 million to launch assembly of two hybrid vehicles, its RAV4 and the luxury Lexus ES 300 in Kentucky. Read more here. 

U.S. Senators Target Auto Tech Mandate to Block Drunk Driving
Reuters reports that two U.S. senators on Wednesday plan to introduce legislation that would require automakers to install technology to prevent intoxicated drivers from starting a vehicle by the middle of the next decade. For more than 10 years, major automakers and the U.S. National Highway Traffic Safety Administration (NHTSA) have been researching technology solutions to prevent impaired driving crashes. In 2017, 10,847 people were killed in crashes on U.S. roads involving an intoxicated driver, with costs to society nearing $200 billion, NHTSA data showed. Senator Tom Udall, a Democrat, and Rick Scott, a Republican, will introduce legislation to mandate such technology on all new vehicles within about four years of the bill’s passage and direct the federal government to work with automobile manufacturers, suppliers, universities and others to ensure those vehicles are available for sale at the earliest practical date. Read more here. 

Hyundai Motor Group Plans to Invest $34.6 Billion in Mobility Tech by 2025
Hyundai Motor Group said it plans to invest 41 trillion won ($34.6 billion) in mobility and other auto technologies by 2025, part of which will be directed to an ambitious effort to become more competitive in self-driving cars that has also received government backing. According to Automotive News, the plan, which Hyundai said encompasses autonomous, connected and electric vehicles as well as technology for ride-sharing, comes after the automaker and two of its affiliates announced an investment of $1.6 billion in a venture with U.S. self-driving tech firm Aptiv. South Korea's government is also on board, unveiling more funding for autonomous vehicle technology with President Moon Jae-in declaring on Tuesday that he expected self-driving cars to account for half of new cars on the country's roads by 2030.  Read more here. 

AutoNation CEO Says Auto Sales Are 'Pretty Strong' and Consumers Are in 'Good Shape'
U.S. auto sales are sputtering so far this year. For the first nine months of 2019, sales at the Big Three and several foreign carmakers fell sharply. But, reports Fortune, Cheryl Miller is still upbeat about the outlook and she's in a position to know. As the new CEO of AutoNation, she runs the world’s largest car dealership. “The customer is in pretty good shape,” she says. “So I feel reasonably good about where auto sales are and where they’re going to be for the balance of the year. Certainly the business is cyclical, but it’s at a pretty strong point still.” Miller says she’s optimistic because when she talks with customers they’re eager to buy trucks and SUVs and there’s also strong demand for what she calls “nearly new” vehicles, or what many people refer to as  “used cars.” Read more here. 

GM, UAW Move Closer to Deal That Would End Strike
General Motors Co. and the United Auto Workers are nearing a contract deal to end a 30-day strike at the company’s factories, with bargainers moving closer on earlier sticking points and leaders from each side engaging in high-level talks. According to The Wall Street Journal, GM Chief Executive Mary Barra for the first time since the strike began met with UAW officials at the bargaining table Tuesday morning in an effort to solidify an agreement, according to people familiar with the discussions. UAW President Gary Jones also attended the bargaining session, as did GM President Mark Reuss, the people said. After clashing publicly last week, GM and the union made progress during lengthy bargaining sessions in recent days, working through thorny issues including wages and the pay scale for new hires, the people said. Shares in GM rose 2.1% on Tuesday. They are down about 7% since the strike began. Read more here (subscription required). 

$1 Million Milestone, WF Auto Veteran Vehicle Donation Program
Wells Fargo is committed to supporting service members and veterans with their financial and transportation needs. From November 2015-2019, Wells Fargo has contributed payment-free vehicles as well as family and financial mentoring for combat-wounded veterans and Gold Star Families valued at over $1 million dollars. Wells Fargo has sponsored more than 30 vehicle donations with local auto dealership customers across the U.S. to support Military Warriors Support Foundation’s Transportation4Heroes and Skills4Life programs. On average, graduates have reduced their total debt by nearly $10,100 and improved their credit scores by 58 points. To read more about how this program is changing veterans’ lives, click here. And for more about Wells Fargo’s support of the military and veterans, visit the company’s Military Resource Center at www.wellsfargo.com/military.

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