Watch: Who Is AIADA?

First Up 09/05/19

Watch: Who Is AIADA?
Established in 1970, the American International Automobile Dealers Association (AIADA) is the only national trade association representing America’s 9,500 international nameplate automobile franchises in Washington, D.C.

AIADA serves as an advocate for these dealers before Congress, the White House, and federal agencies. Watch our new video to find out what we’re doing in Washington, D.C., in 2019 and why you should be a part of it. 

Light Trucks Drive Toyota, Honda, Nissan, Hyundai to Gains
The biggest Asian automakers in the U.S. posted double-digit sales gains last month in the latest sign that the market is picking up strength as the summer advances, reports Automotive News. American Honda Motor Co. led the way with an 18 percent increase over year-earlier figures. Nissan Group advanced 13 percent, followed by Hyundai (12 percent) and Toyota Motor Corp. (11 percent). It was the first time in four years that each of the four big Asian companies were up more than 10 percent in a given month. All of them were aided by strong demand for light trucks. U.S. light-vehicle sales were forecast to rise for the second straight month in August, helped by five sales weekends that included the key Labor Day holiday. July’s estimated 1.2 percent gain marked the first time this year that sales rose – if estimates for the Detroit 3 are accurate. Starting in July, Fiat Chrysler joined Ford Motor Co. and General Motors in reporting on a quarterly basis. Read more here.

U.S., Japan Rush to Finish Trade Deal by Trump's Tight Deadline
The U.S. and Japan are still thrashing out details of a trade deal that President Donald Trump wants to sign this month, including the crucial issue of whether he’ll refrain from imposing higher tariffs on imported cars, according to people familiar with the matter. Bloomberg reports that Trump, at the Group of Seven meeting in France last month, celebrated what he called a “major deal” that he and Prime Minister Shinzo Abe would sign on the sidelines of the United Nations General Assembly, starting later this month in New York. But people familiar with the talks said the leaders only agreed on the broad strokes of a trade deal. Negotiators are now finalizing many of the core elements, including how much Japan is willing to open its agriculture market to U.S. imports, cuts to industrial tariffs, and the treatment of digital trade that could impact U.S. technology giants like Inc. and Alphabet Inc.’s Google. Read more here. 

Carmakers Agree to Add Rear-Seat Reminders to Prevent Deaths in Hot Cars
More than 50 children died in the U.S. last year after inadvertently being left in hot cars, prompting automakers to voluntarily agree to add back seat occupant reminders to new cars by 2025. The Detroit News reports that car manufacturers will add systems to new cars that prompt drivers to check back seats after cars are shut off, as part of an agreement announced Wednesday by the Alliance of Automobile Manufacturers and the Association of Global Automakers, which represent domestic and foreign-owned carmakers. Under the agreement announced Wednesday, carmakers would have leeway about the specific technologies they use, but at minimum they would have to include auditory and visual alerts that activate after a driver turns off the vehicle. Read more here. 

Nissan CEO to Return Part of His Pay Following Audit
Nissan Motor Co. Chief Executive Hiroto Saikawa on Thursday said he will return a portion of his performance-based pay, after Nissan auditors found that the amount was too high. According to The Wall Street Journal, the pay was in the form of stock appreciation rights, a cash payment linked to the increase in the price of the company’s shares over a period of time. Mr. Saikawa received a higher payment than he was entitled to, because the execution date of those rights was changed to a date when the share price was higher. The change netted Mr. Saikawa more than $400,000 in additional payments, according to Greg Kelly, the former Nissan executive in charge of the payment calculation. Mr. Saikawa said he will return the overpayment. Read more here. 

Webinar: Auto Market Trends & Outlook
Join AIADA’s AutoTalk webinar on Tuesday, September 17th - 2:00pm EDT as Jonathan Smoke, Cox Automotive's Chief Economist, reviews:

  • Key economic and automotive market trends

  • Latest forecasts

  • Economic fundamentals and the impact key trends have on new and used car sales, including vehicle prices and affordability

  • Wholesale market supply

  • Auto loan rates

  • Consumer credit access

  • Ongoing trade concerns and the challenges impacting dealers

To register, click here.

Around the Web

Why Cars Don't Have Those Long Antennas Anymore [Jalopnik]

FL Man Parks Smart Car in Kitchen So It Won't "Blow Away" in Hurricane Dorian [CBS News]

McLaren's Electric Hypercar Will Focus on Lightness [MotorAuthority]

The First Real Look Inside the Porsche Taycan [Autoblog]