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Archive for the ‘NAFTA’ Category

EV Sales on the Rise in First Half of 2018 in the US

Bolt sales are up in first half, production to increase.

by on Jul.05, 2018

Sales of the Chevy Bolt rose 3.5% in the first half of 2018.

Rising gas prices and improved range appear to be creating an appealing environment for plug-in electric vehicle sales with no company reaping better results than General Motors in the first half of the year.

The company’s Chevy Bolt EV saw sales rise during the second quarter of the year.

Plug In!

U.S. and global demand for the Chevrolet Bolt EV has been very strong in 2018, with global sales estimated to be up more than 35% year over year in the second quarter and up more than 40% in the first half. (more…)

Magna Building New BMW Z4, Toyota Supra

New vehicles to be produced in Austria.

by on Jul.05, 2018

Toyota Supra Racing Concept is the basis for the new Supra that will be built by Magna Steyr.

Magna Steyr has received the contract to build the new sports cars developed jointly by BMW and Toyota.

Magna has confirmed its that it has signed a contract with BMW and Toyota to produce the new BMW Z4/Toyota Supra starting at the end of 2018. It said that production of the new BMW Z4 and Toyota Supra will be added to its production line in Graz, Austria, after upgrades to the production line are complete.

News You Can Trust!

Although, the production levels for the Z4/Supra are expected to be relatively modest the added output will further drive Magna to reach its production capacity of 200,000 units in early 2019, analysts said.  (more…)

Ford Pulls Out of Geneva Motor Show

Automaker joins Volvo in not attending show.

by on Jul.03, 2018

Ford has a history of making news at the Geneva Motor Show, like the introduction Focus RS.

The list of automakers pulling out of auto shows just got one name longer: Ford is skipping the 2019 Geneva Motor Show.

The Dearborn, Michigan-based automaker said the show’s timing didn’t fit its launch schedule and wouldn’t represent good value. It’s the second major automaker that has pulled out of the show, Volvo being the first.

Auto Show News!

“It costs a sizeable amount of money,” a Ford of Europe spokesman told Automotive News Europe. “If you’re not going make a return on the investment in terms of media attention or people on the stand, why do it?” (more…)

Every Car Sold in the U.S. is an “Import”

Tariffs would impact even “American-made” vehicles.

by on Jul.03, 2018

The Honda Odyssey is one of the most "American" cars but will still be hit by tariffs.

Every single car, truck or crossover sold in the U.S. would be affected by the 25% import tariff being proposed by Pres. Donald Trump, with prices on some models rising by tens of thousands of dollars.

That’s because even vehicles assembled in the U.S. rely on some level of imported parts and components, whether in their suspension, infotainment systems or powertrains.

Beyond the Headlines!

Complicating matters, American-made auto parts and vehicles could become more expensive, and lose their competitive edge, if trade partners enact their own tariffs in response, something a number of them have now threatened to do.

(more…)

Trade Tariffs Getting Global Pushback: Trump v. The World

Automakers leading charge against new tariffs.

by on Jul.02, 2018

GM CEO Mary Barra has attempted to provide counsel to President Donald Trump, even as his policies have negatively impacted automakers.

Everywhere President Donald Trump looks these days is another message saying, essentially, don’t do this.

“This” in this instance is an attempt to raise tariffs against multiple trade partners at the same time. Trump, who made trade a central piece of his election campaign, has managed to either increase tariffs or threaten to do so against Canada, Mexico, China, Japan and the European Union.

Stay in the Loop!

Right now, Canada has already instituted retaliatory tariffs against the U.S. as has the EU for the tax on imported aluminum and steel. Trump responded by threatening to put tariffs on even more items, including a 20% on vehicles from the EU. (more…)

Obrador’s Win in Mexico Presidential Election Portends NAFTA Trouble

Tough NAFTA talks expected to get even more difficult.

by on Jul.02, 2018

Mexican President Andres Manuel Lopez Obrador is likely to have a negative impact on NAFTA.

In a development that leaves the future North American Free Trade Agreement hanging by a slender thread, Andreas Manuel López Obrador was elected president of Mexico in a landslide victory that could lead to sweeping change in Mexican politics.

The leftist Obrador is considered by some commentators as Mexico’s version of Cuba’s Fidel Castro or Venezuela’s Hugo Chavez.

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Obrador, who narrowly lost the Mexican Presidency in 2006 and 2012, has forcefully rejected the Castro-Chavez comparison. Instead he ran on a platform that promised to curb corruption in Mexico. But Obrador, who won 53% of the vote July 1, has promised to attack the inequality in Mexico and has said the NAFTA isn’t working for the average Mexican worker needs a hefty pay increase. (more…)

Japan Warns Tariffs Put Global Free Trade “At Great Risk”

100s of thousands of U.S. jobs at Japanese carmakers may vanish.

by on Jun.29, 2018

Employees at Nissan's Canton, Mississippi, plant and other Japanese-owned U.S. plants could see their jobs threatened by new tariffs, Japan warned on Friday.

The Japanese government is the latest to weigh in on the potential dangers posed by the Trump Administration’s threatened trade tariffs on not only the global economy but U.S. jobs.

Warning that the White House’s proposed 25% tariff puts global free trade “at great risk,” a report issued by the Japanese government on Friday said such a move could backfire, threatening to “eventually undermine the entire U.S. economy” by, among other things costing the jobs of hundreds of thousands of U.S. jobs.

The Last Word!

The Japanese report echoed the findings of another analysis of the auto tariffs’ impact, the Peterson Institute for International Economics estimating that anywhere from 195,000 to as many as 624,000 U.S. jobs could be lost, the higher figure reflecting what would happen if trade partners retaliate.

(more…)

McLaren Reaches into Past for Newest Model: 600LT

New model is just fourth Longtail ever.

by on Jun.29, 2018

McLaren unveiled the new 600LT, only the fourth Longtail in company history.

McLaren continues to tickle the fancy of McLaren and super car fans alike, this time reaching back into its history a bit with the debut of the new 600LT.

The newest model is just the fourth car in the company’s history with the LT, or Longtail, moniker in its history following the McLaren F1 GTR ‘Longtail’ race car and McLaren 675LT Coupé and Spider

Product News!

The Longtail designation is designed for vehicles that are at home on the road as well as the racetrack featuring Increased power, reduced weight, optimized aerodynamics, absolute driver engagement, track-focused dynamics and limited availability, according to McLaren. (more…)

Car Dealers Tell Commerce Department That Tariffs are Taxes on Consumers

Department studying if imported autos risk national security.

by on Jun.29, 2018

AIADA's Cody Lusk chastised the Trump administration in a filing, saying a new tariff amounts to a new tax on the American people.

This country’s international auto dealers, who sell brands from Asia and Europe, fired a broadside shot against the Trump administration’s plans to impose a heavy tariff on cars imported into the U.S.

America’s auto dealers, domestic and international, stand to lose up to 2 million annual sales if the investigation rules against their products and the 25% tariff proposed by the Trump administration is put in place, the American International Auto Dealers Association said.

Dig Deeper!

The AIADA comments were filed with the Department of Commerce’s Section 232 investigation into whether or not imported autos and auto parts, used in every car sold in America, pose a national security threat to the United States. (more…)

Automakers Foreign and Domestic: Tariffs Harm Jobs, Economy

A 25% tariff could add nearly $6K to vehicle prices.

by on Jun.27, 2018

Commerce Secretary Wilbur Ross said the study determining if automotive imports could be declared a threat to national security.

(This story has been updated with additional information.)

The escalating tariff war between the United States and the European Union, heighted by a threat of a 20% tariff on EU-imported vehicles, could result in vehicle prices rising an average of $5,800 and eliminate hundreds of thousands of jobs.

Those are just some of the findings from study by the Peterson Institute for International Economics. The study claims that the cost to U.S. jobs from the import duties would be at least 195,000 jobs. It could be as high as 624,000 jobs if other countries retaliate.

Trade News!

Last week, Trump threatened to impose the 20% tariff and yesterday he said tariffs are coming soon. (more…)