Zotye USA Signs Dealers in 100 Markets
Zotye USA, the American distributor for Chinese manufacturer Zotye Automobile, has chosen retailers in 100 markets as it plans to launch sales of its first vehicle in 2021, reports Automotive News. Duke Hale, CEO for the U.S. distributor, said the filling of the first hundred spots is ahead of schedule as it plans to have agreements signed in 250 markets prior to the launch. Eventually, the brand expects to have about 325 total locations, the distributor said Tuesday. "We're really pleased, though not surprised, that the milestone of signed appointments for 100 markets has been reached earlier than we first estimated," said Hale. Zotye said it now has agreements for dealer markets in the top 10 states for sales, and that it has closed the recruitment process in cities such as Atlanta, Austin, Houston and Las Vegas. The first model to hit the U.S. market will be a new version of the T600 compact crossover, the company has said. It will be followed by a second utility and car in following years. Read more here.
How Tentative GM Deal Stacks Up to Previous UAW Contract
United Auto Workers striking General Motors Co. for the past month demanded the return of production from Mexico and reversal of plans to close the sprawling Lordstown Assembly complex in northeast Ohio’s Mahoning Valley. According to The Detroit News, they got neither in the tentative agreement more than 48,000 members will consider this week. But they stand to get raises and bonuses that outpace current inflation, the elimination of the $12,000 cap on profit-sharing payouts and a record $11,000 ratification bonus — a markedly more lucrative contract compared with their deal four years ago. "It’s a very rich contract," said Patrick Anderson, CEO of East Lansing-based Anderson Economic Group LLC. "Although it's very expensive for GM, it does allow them to close down three plants entirely. That was a major accomplishment for GM. They spent a lot of money on wages, on vacation time, on bonuses, on health care and they achieved the ability to close down plants." Read more here.
Trucks and SUVs Carry the Way, According to KAR's September Wholesale Price Data
Trucks and SUVs are designed to carry a variety of things, from flea market finds to raw materials for countless projects, reports Auto Remarketing. And apparently those units carried overall wholesale price movements in September, too. According to KAR Global Analytical Services’ monthly analysis of wholesale used-vehicle prices by vehicle model class, overall prices in September averaged $11,155. That figure is 0.8% lower compared to August but 1.6% higher relative to September of last year. “Average wholesale prices in September fell relative to August but remained up on a year-over-year basis,” KAR Global chief economist Tom Kontos said. “The year-over-year price growth was again due to the strength and growing share of truck-segment sales, as car prices fell on a monthly and annual basis. Read more here.
Renault Chairman Sets Ambitious Goal for Troubled Nissan Alliance
Renault SA Chairman Jean-Dominique Senard is piling on the pressure to fix its partnership with Nissan Motor Co., giving the carmakers just months to mend their troubled relationship, reports Bloomberg. “My obsession today is that this alliance actually takes off in 2020,” Senard said Tuesday on France Inter radio. “If in 2020 we don’t extract the whole virtuous potential of this alliance, I’ll consider that I and my teams have failed.” Asked about the vexing issue of their lopsided shareholding structure that has long weighed on relations, Senard said a lowering of Renault’s stake in Nissan wasn’t on the agenda, though he cautioned “You can’t exclude anything.” Senard’s deadline provides marching orders for a new crop of managers taking their seats as a global downturn in the automotive sector takes hold. Nissan changed CEOs this month and Renault has embarked on its own executive search after ousting Thierry Bollore. Both companies are turning the page on the era of Carlos Ghosn, who held their alliance together for years. Read more here.
Audi Electric Plans Include Wave of New Plug-Ins, Along with All-Electric Models
Audi is making a serious push into electrification, its new e-tron SUV just one of the pure battery-electric vehicles coming to market during the next several years – but the automaker also has big plans for plug-in hybrids, the new A6 55 TFSI e Quattro one of five PHEVs set to join its line-up before the end of the year. According to The Detroit Bureau, the list also will include plug-in versions of the Audi A7, A8, Q5 and Q7 model lines. They will share a gas-electric driveline capable of punching out a combined 362 horsepower. While there’s growing pressure on manufacturers to switch to all-electric drivetrain technology, Audi is one of a number of manufacturers who see plug-in hybrids as a good bridge technology capable of operating in battery-only mode during commutes and while running errands, and then switching to gas power for longer trips. Read more here.
Around the Web
The 10 Best Cars to Buy New Instead of Used [Business Insider]
Top Tech Upgrades for Your Car [Road Show]
Best 2019 Cars for Teen Drivers [Cars.com]
Hyundai is Building Cruise Control That Mimics Your Driving Style [Autoblog]
