Dealers: Your Vote Matters
Jason Courter has a special message for dealers on the importance of voting in this election. Watch it and explore the resources AIADA has available to help you make an informed choice at the polls. Then, please share it with your colleagues and employees. Vote. Because your voice matters.
NADA Picks COO Mike Stanton as Successor to CEO Peter Welch
The National Automobile Dealers Association has named COO Mike Stanton as its next chief executive, reports Automotive News. The announcement follows a roughly five-month search for a successor to NADA CEO Peter Welch, who is retiring at the end of the year. The search committee was steered by NADA Vice Chairman Paul Walser. The association received at least 100 applicants, a person familiar with the matter told Automotive News. Stanton, who became COO in 2018, started at NADA in May 2000 as national sales manager for the NADA Used Car Guide. In 2002, he became executive director of industry affairs, working in that role until 2006. He later was the guide's COO until joining J.D. Power's Vehicle Valuation Practice as general manager, following Power's acquisition of the guide in 2015. “NADA is a great organization representing one of America’s most important industries,” Stanton said in a statement. “It is an honor to be chosen for this role, in this pivotal time for dealers, and I am excited to get started.” Read more here (Source: Automotive News).
GM Unwraps GMC Hummer, Boasts "No Equals" – Especially When It Comes to the Price Tag
For those who think of an electric vehicle as something quirky and limited in capabilities, the new GMC Hummer is likely to come as quite a shock, reports The Detroit Bureau. One of at least 20 battery-electric vehicles General Motors plans to bring to market over the next three years, the Hummer will offer the sort of power and capabilities that could challenge conventional pickups like GMC’s familiar Sierra model. It also will offer unique features, such as its ability to “crabwalk,” or move diagonally. But one of the most notable details is the fact that, at $113,000, the launch version of the Hummer will be the most expensive factory-built pickup ever. “This innovative truck comes to market with speed and purpose, bringing GM another step closer to an all-electric future,” said Mark Reuss, president of General Motors. Read more here (Source: The Detroit Bureau).
New York Auto Show Moving to August 2021
The 2021 New York auto show is moving to August, four months later than planned, organizers announced Tuesday. Automotive News reports that the event, which was postponed and later canceled this year because of the ongoing coronavirus pandemic, will take place Aug. 20-29, with a press day Aug. 19, officials said. The 2021 event was originally slated to run April 2-11. Show organizers on Tuesday cited the pandemic as well as a desire to take advantage of an expansion to the convention center where the event takes place. “Looking at all the issues we're facing, we have determined that moving the dates of the 2021 NYIAS to August is not only the responsible thing to do, but it puts us in a unique position to occupy the expanded Javits Center with an additional 100,000 square feet of new exhibit space on the main floor and much more," Mark Schienberg, president of the Greater New York Automobile Dealers Association, said in a statement. Read more here (Source: Automotive News).
Wall Street Sees Profit Recovery for Automakers, But Will It Last?
Reuters reports that Wall Street expects U.S. automakers to report strong results for the third quarter, as a recovery in sales after this year’s initial coronavirus lockdowns tightens inventory for an industry watching cases in Europe and the United States rise. Starting with Tesla on Wednesday, investors will be most focused on what executives have to say about the quarters ahead, as signs grow that the pandemic, which halted work earlier in the year, is again worsening. “It’s going to be pretty strong earnings across the board,” said Deutsche Bank industry analyst Emmanuel Rosner, adding he expected all suppliers and carmakers to beat current forecasts. The pace of U.S. car and light truck sales has increased each month since shutdowns were lifted, and plants are working at close to full speed to rebuild inventories for high-profit sport utility vehicles and pickup trucks. Read more here (Source: Reuters).
Around the Web
Bugatti's Next Model Has Taillights Like an X-Wing Fighter [MotorAuthority]
VW Gauges Interest in Ducati from Potential Buyers [Autoblog]
This Car Just Smashed Through Speed Records at 316 MPH [CNN Business]
CARFAX Touts 'Meaningful' Top Workplace Recognition [Auto Remarketing]
