CBT Automotive TV News: September 2, 2021
How this auto industry veteran inspires young people to explore the auto industry
In the latest episode of Kain and Co., host David Kain, President of Kain Automotive, is joined by Bill Taylor, General Motors retiree and founder of Vehicle Nanny to discuss his love for the auto industry. Taylor spent 32 years with General Motors and held various positions in sales, marketing and service. After retiring from GM, Taylor went on to join the ranks of vendors and build successful digital marketing businesses. Today, Taylor is focusing on his platform, Vehicle Nanny, which supports automotive programs for young people and any activity promoting the automotive hobby. Watch the full segment here.
The continued chip tightening and other supply chain limitations have now caught up with Toyota, Hyundai and Kia. Last month’s light vehicle deliveries fell 2% at Toyota with volume down 2.4% in the Toyota division but increasing up to 0.5% at Lexus. Some of Toyota’s biggest sellers saw significant declines, including highlander volume down 11% and rav4 deliveries down 24%. Toyota ended August with 132,934 cars and light trucks or an 18-day supply. August deliveries fell 3.7% at Hyundai and 5.3% at Kia. Kia sold 74% of on-hand inventory last month and Hyundai ended August with 39,357 new vehicles in stock in the United States, down 15% from July.
Oil companies are still investigating damage to Louisiana’s oil rigs and refineries from Hurricane Ida. According to AAA, experts warn that price increases could follow at the gas pump. With power supply to more than two million utility customers, it may take some time for the region’s gas industry to recover. AAA spokeswoman Jeanette McGee said: “Until the power is restored… motorists in the area can expect price fluctuations leading up to the Christmas Day weekend. Job. There has been a suspension of production of about 1.72 million barrels of oil per day. Almost 13% of US refining capacity was also offline.
Speaking of fuel, Swedish steelmaker SSAB has teamed up with Mercedes-Benz to explore fossil-free steel for automotive manufacturing. Prototype body parts are planned for next year, and SSAB plans to supply the market with fossil-free steel on a commercial scale in 2026, using the hybrit system. The hybrid system would replace coking coal, traditionally needed in the iron ore-based steel industry, with electricity and hydrogen. Mercedes-Benz expects that by 2039 its new passenger car fleet will become carbon dioxide neutral throughout the value chain.
Volkswagen has asked the U.S. Supreme Court to overturn an Ohio court ruling that allowed the state to move forward with a lawsuit over its diesel emissions scandal and fuel handling. emission control systems. The German automaker previously asked the U.S. Supreme Court to review an appeals court decision that allowed two counties to seek financial penalties related to diesel that could cost the company billions. This request is pending. In June, the Ohio Supreme Court ruled that the federal clean air law did not anticipate claims of state law or prohibit state monitoring after the sale of air. ‘a vehicle. In 2015, Volkswagen admitted to secretly using illegal software to evade emissions rules and in 2017 pleaded guilty to conspiracy and obstruction of justice.
Lithia Motors has acquired the Canadian dealer group Pfaff Automotive Partners. Terms of the deal were not disclosed, but a spokesperson for Pfaff said the Canadian group retains an undisclosed stake in the deal. This is the first international acquisition of Lithia as the second American group, with a target target of 500 national sites. The purchase is expected to bring annualized acquisition profit for 2021 to $ 5.9 billion. Canadian dealers expect to generate over $ 1 billion for Lithia. In a statement from Lithia, the group said that “the deal was funded with existing capacity on the balance sheet.” The acquisition of Pfaff makes Lithia the second largest publicly traded dealer group in Canada.
News & Reviews:
Training opportunities available for those in charge of fixed operations
To become the leader and manager that the dealership needs, having the right training is essential. Working as a Fixed Operations Manager can be a stressful business, leaving very little time to learn and grow. However, regular training is essential to become the best and gain job security. With so many ways to get training for fixed operations managers, there is certainly an avenue that is right for you and your dealership. Da d more
Cars Keep Selling Above MSRP — How Long Will This Last?
A new Autotrader report was released just before the Labor Day weekend that is popular with buyers, showing car buyers the top 20 selling new vehicles consistently above MSRP. With luxury and non-luxury models on the list, it includes many that are very rare bestsellers. The Mercedes-Benz G-Class wagon tops the list with an average selling price of 118% over MSRP. The Kia Telluride (108% off MSRP), Kia Carnival (107% off MSRP), Hyundai Palisade, Honda Ridgeline, Land Rover Defender and Honda CR-V (105% off MSRP) are the seven first with the highest percentage above MSRP. Da d moD
Did you enjoy today’s automotive newscast? Please share your thoughts, comments or questions regarding this topic by sending a letter to the editor here, or contact us at [email protected]
Make sure to follow us on Facebook and Twitter to stay up to date or catch up on all of our on-demand podcasts.
While you’re here, don’t forget to subscribe to our email newsletter for all the latest automotive industry news from CBT News.