Dashboard Cameras Top the List of Features Motorists Want
The most popular feature, according to a new study by research firm AutoPacific Inc., is a built-in dash cam, reports The Detroit Bureau. Fully 70% of the car buyers who participated in the annual Future Attribute Demand Study listed that as a must-have. That probably shouldn’t come as a surprise, said the firm’s research analyst Deborah Grieb, noting “Consumers have experienced an influx of personal video in social and news media in recent years and are very familiar with the potential security benefits of camera footage from dash cameras, body cameras, cell phones, and doorbell cameras. It’s really not surprising to see such high interest in an in-vehicle recording device.” What was significant about the study was the finding that interest in dash cams was broad, covering essentially all buyer groups, no matter their age, the type of vehicle they were interested in, nor how much they planned to spend. Read more here.
Toyota Sees Further Recovery in Global Output in August
Toyota Motor Corp. will make 2 percent fewer vehicles globally in August than originally planned, the Japanese automaker said Tuesday, as output recovers gradually from a steep drop because of the coronavirus pandemic. Automotive News reports that the company said it aimed to make 15,000 fewer vehicles than its initial plan, which was around 750,000, according to Reuters' calculations. August's reduction is smaller than the cut of 10 percent seen in July, and June's 40 percent reduction. Toyota said it would produce 6,000 fewer vehicles at home, and 9,000 less overseas. Global automakers are slowly getting vehicle production back on track after the closure this year of many plants to curb the spread of the virus, although many still anticipate that output and sales will be lower than last year. The updated production plan represents an output cut of 9 percent from a year ago. Read more here.
Fiat Chrysler, Waymo to Put Self-Driving Tech in Ram Vans
Fiat Chrysler Automobiles and Waymo are moving well beyond developing self-driving minivans together, reports The Detroit Free Press. In a dramatic expansion of their four-year-old partnership, FCA and Waymo, once known as Google's Self-Driving Car Project, plan to fit Ram ProMaster Vans with Waymo Driver, the autonomous brains behind the hundreds of Chrysler Pacifica Hybrid minivans in Waymo's ride-hailing fleet. Perhaps more significant for the long term in the announcement early Wednesday (late Tuesday on the West Coast) is news that Waymo is now slated to become the "exclusive, strategic partner" for higher-level self-driving technology across FCA's fleet. No financial terms for the deal were released, and no timeline has been provided. The moves come as FCA has stopped working with Amazon-backed Aurora Innovation. Read more here.
Volvo Chief Stresses Importance of State-Backed Charging Infrastructure for Electric Vehicles
The chief executive of Volvo Cars described plug-in hybrids as a “very popular concept” on Tuesday, but emphasized the need for government support when it comes to charging infrastructure, reports CNBC. Plug-in hybrid electric vehicles, or PHEVs, are cars which have an internal combustion engine as well as a battery-powered electric motor. Speaking to CNBC’s “Squawk Box Europe,” CEO Håkan Samuelsson referred to the vehicles as a “bridge technology.” As a company, Volvo Cars has said it wants “around 50%” of the cars it sells to be “pure electric” by the year 2025, with the other half sold as hybrids. On the topic of new energy vehicles needing government incentives to drive sales, Samuelsson said he thought that “long term, we need to have sustainable concepts that can be sold on (their) … own merits.” Around the world, governments are attempting to incentivize the uptake of electric vehicles. Read more here.
Fed Deliberates How and When to Roll Out More Economic Support
Federal Reserve officials are set to discuss next week how to provide more economic stimulus, though they have signaled comfort leaving policy on hold until they learn more about how the coronavirus pandemic is weighing on the U.S. economy, reports The Wall Street Journal. Deliberations at their July 28-29 meeting could determine how soon officials can finalize any plans, which would be unveiled either at their September meeting or later this fall, according to interviews and public statements. Fed officials face three related deliberations over what to do. The first concerns describing how long they plan to keep interest rates near zero. The second centers on whether to augment that support by changing the composition of their purchases of Treasurys and mortgage bonds toward longer-dated securities, as they did after the 2008 financial crisis. The third entails concluding a yearlong review of the Fed’s long-run policy-setting strategy. Read more here.
Federated Insurance's Claim of the Month – Could It Happen to You?
An auto dealer’s service department performed an oil change and inspection on a customer’s vehicle and found that the tread depth was below the recommended levels for safe operation. About five weeks later, a rear tire failed and the vehicle rolled, killing the customer. The customer’s family sued the dealer, claiming the technician did not recommend replacement.
CLAIM AMOUNT: $2 million.
With a thorough inspection process, including a robust checklist for technicians to complete, the dealership had strong procedures for documenting inspection findings. Where they fell short is ensuring the customer is notified of those findings. Always err on the side of caution to help drive home the importance of your safety recommendations. Visit federatedinsurance.com or contact your local marketing representative for resources you can use to create or enhance your own risk management program.
Around the Web
Self-Driving Cars Will Race in Indianapolis. Tesla Can't Take Part. [Barron's]
Lamborghini Aventador SVJ Xago Limited to 10 Cars [MotorAuthority]
2021 Toyota Venza First Drive [Autoblog]
Bugatti Will Delay Building Second, More Affordable Model [CarScoops]
