Through our Dealers Do Good campaign, AIADA is recognizing dealers for the positive impact they have in the communities they serve. If you’re a dealer doing good, let us know here, tag us on Facebook, LinkedIn, or Twitter, or join the conversation with the #DealersDoGood hashtag.
Apostolakis Honda helped their local police department kickstart their annual Cram A Cruiser School Supply Drive. They donated more than 100 school supplies. Visit their Facebook pages to see photos.
Holler Hyundai filled up an entire Kona N with school supplies. View photos on Twitter.
U.S. Vehicle Inventory Falls to 1.02 Million
Inventory levels continue to stagnate in the U.S. at just over a million vehicles as continuing supplier issues block automaker attempts to boost production, despite a slowdown in sales, according to Cox Automotive and the Automotive News Research & Data Center. Cox estimates in its most recent survey that inventory declined in July to 1.02 million vehicles, down by about 98,000 from where it stood a month earlier and marking the seventh consecutive month that inventory has stayed between 1 million and 1.1 million. Cox said the total represented a 37-day supply, based on its practice of using the selling rate from the most recent 30-day period. That compares with a 35-day supply a month earlier and a 31-day supply at the same point last year, when Cox estimated inventory at 1.2 million. Among the seven automakers that continue to report sales and inventory data to the Automotive News Research & Data Center, Subaru still had the tightest supply, at three days, with other Asian brands also running lean because of their long supply lines. Click here for the full story.
EU Says U.S. Plan for EV Tax Breaks Discriminatory, May Breach WTO Rules
The European Union said on Thursday it was "deeply concerned" about proposed tax credits for purchases of electric vehicles in the United States because they would be biased against foreign producers and may breach World Trade Organization (WTO) rules. Under a provision of the $430 billion climate and energy bill that was passed by the Senate on Sunday, U.S. buyers of zero-emissions EVs would be eligible for tax credits worth several thousand dollars. However, domestic content conditions would apply to the tax breaks to push the EV industry away from reliance on China and spur local investment in battery minerals and manufacturing. "We think it's discriminatory, that it is discriminating against foreign producers in relation to U.S. producers," said European Commission spokesperson Miriam Garcia Ferrer. "Of course, this would mean that it would be incompatible with the WTO." Garcia Ferrer told Reuters the EU agreed with Washington that tax credits are an important incentive to drive demand for EVs and promote the transition to sustainable transport and a reduction in greenhouse gas emissions. Click here for the full story.
Acura Teases First EV Ahead of Pebble Beach Debut
Like its more mainstream parent Honda, luxury brand Acura is set to migrate to battery power during the coming decade — and it will reveal its first all-electric model at this month’s Pebble Beach Concours d’Elegance. Acura isn’t saying much about the BEV, issuing a terse statement accompanying a teaser image. “See the future of Acura design, electrified, on August 18 at Monterey Car Week,” it declared. But some significant details of the project have begun leaking out. The Honda Motor Co. was an early pioneer in electrification, starting with the debut of the quirky Honda Insight hybrid two decades ago. It briefly followed with an all-electric SUV to meet a short-lived California EV mandate but soon pulled that vehicle from production. Since then, it has rolled out an assortment of hybrids and plug-in hybrids but has avoided reentering the all-electric market. That’s about to change — with a little help from erstwhile rival General Motors reports The Detroit Bureau. To help speed up development of a battery-electric vehicle, Honda turned to GM to develop two models using its Ultium batteries and platform. It has already confirmed plans for the first of those, the Honda Prologue. Click here for the full story.
BMW Will Mass Produce Hydrogen-Powered SUV by 2025 Storing Hydrogen Under the Floor
In recent years, BMW and Toyota's relationship has mostly made headlines for the extensive parts sharing between the BMW Z4 and Toyota GR Supra. But the two companies share interests beyond these two sports cars, that being hydrogen technology. Both brands think that hydrogen's benefits should be explored, which is why Toyota sells the Mirai and BMW revealed a hydrogen-powered X5 in 2019. With the iX5 Hydrogen prototype set to launch in 2023, Carbuzz now has further confirmation of when BMW customers can walk into a showroom and order one for themselves. Sales chief Pieter Nota said that BMW will begin mass-producing and selling fuel cell vehicles as early as 2025. The iBMW X5 Hydrogen forms part of a joint development process with Toyota. "We see that hydrogen fuel cell technology is particularly relevant for larger SUVs," said Nota. "We have various projects we work on with Toyota," he continued, hinting at more fuel cell vehicles besides the iX5 Hydrogen. Nota underlined the value in continuing to utilize different powertrains, be it pure EVs, efficient gas-powered cars, and hydrogen models. Click here for the full story.
CNA National Continues Winning Streak in Dealers’ Choice Awards
CNA National has been named a top F&I provider for 18 consecutive years in the 2022 Dealers’ Choice Awards, earning a first-place Diamond award for Vehicle Service Contracts, a second-place Platinum award for Reinsurance, and a third place Gold award for F&I Products. Dealerships nationwide have voted the company number one every year since the competition began in 2005. CNAN has received a total of 34 awards, showcasing itself as the most-decorated F&I company by far. This is the second year CNAN has earned an award in the F&I Products category, due in large part to the depth and breadth of its offerings. “We are humbled to once again be named the number-one VSC provider by dealerships,” said Joe Becker, president and CEO of CNA National. “The superior value of our products and programs is demonstrated by our history of consistently winning and sustaining our position as one of only a few organizations with multiple-category accolades.” To work with this top-rated provider, call (800) 345-0191 x450 or click here.
Around the Web
The Porsche Taycan Just Reclaimed This Record From the Tesla Model S [Fox News]
These Cars and SUVs Will Be Discontinued for 2023 [Forbes]
Hyundai, Genesis and Kia Sweep Red Dot Awards: Brand & Communications Design 2022 [autofutures]
Baidu to Operate Robotaxi Service Without Human Drivers in Two Chinese Cities [Carscoops]
