Top Automotive Industry News for Week of December 2 - December 8, 2019

Here is the most important news associated with the automotive industry identified by the AEA for the week of December 2, 2019 - December 8, 2019.

We hope it helps you stay up to speed on the key developments in our industry:

-AEA Membership News-

SAVE THE DATE! The next AEA Members Reception will be held on Saturday, February 15th, 2020 from 5:30pm-8:30pm, in Las Vegas during NADA weekend. Invitations will be sent to all current AEA Members within the next few weeks. Annual AEA Member Dues renewal will occur on January 2nd, 2020. If you have any questions, please contact memberservices@automotiveexecutives.com

-Automotive Manufacturing News-

Aston Martin not actively pursuing new investors as opens SUV plant (autoblog)

Buick Will Soon Be an All-SUV Brand (The Detroit Bureau)

Ford workers break their silence on faulty transmissions: 'My hands are dirty. I feel horrible' (USA Today)

GM, LG Chem to create $2.3 billion battery cell venture for electric vehicles, to create 1,100 jobs in Ohio (CNBC)

GM to lay off 800 workers at Detroit plant that will be retooled to make electric vehicles (USA Today)

GM’s CEO deflects questions about Tesla’s Cybertruck, but sees electric pickups as significant (CNBC)

Hyundai’s $52B “Strategy 2025” Plan Calls for Battery Cars and “Personal Air Vehicles” (The Detroit Bureau)

Most anticipated new cars and trucks of 2020: These upcoming vehicles are ones to watch (USA Today)

New UAW deals keep status quo when big change was needed, experts say (Detroit Free Press)

Nissan Placing U.S. Workers On Two-Day Furlough In January (Forbes)

Tesla is poised to deliver Model Y crossover in first quarter of 2020, says Deutsche Bank (CNBC)

Trump says U.S. will finalize new fuel efficiency rules next year (Reuters)

UAW leaders approve Fiat Chrysler labor deal that includes $9,000 ratification bonuses, improved benefits (CNBC)

What GM leaving India means for US automakers (CNBC)

-Automotive Evolution News-

Daimler Starts Testing Autonomous Mercedes-Benz S-Class Taxis in California (FutureCar)

Mind Tricks: How Digital Nudging By In-Car AI Will Shape Where Your Self-Driving Car Takes You (Forbes)

Will 2020 be the year of the electric vehicle? (USA Today)

-Automotive Retail News-

California reduces electric-car rebates, eliminates break for luxury models (MarketWatch)

Carvana adding another recon center in Southeast (Auto Remarketing)

Credit union program offers preferred Volvo pricing (Auto Remarketing)

Discounts, Incentives Stabilize New Vehicle Prices in November (Auto Dealer Today)

Global Auto Sales Will Slide Again In 2020, But China Rally Begins (Forbes)

Lenders differ on 84-month loans (Automotive News)

Light trucks drive Toyota, Honda, Hyundai to gains (Automotive News)

Toyota Intends to Move People in New Ways with New Kinds of Vehicles (Car and Driver)

TrueCar’s ALG Forecasts Average New Car Transaction Price to Reach $35,623 up 1.3% Year Over Year for November 2019 (Globe Newswire)

November Auto Loan Interest Rates Hit 21-Month Low (Auto Dealer Today)

November Sales Report Pushes 2019 Total Closer to 17M (Auto Dealer Today)

Used car dealers didn’t want to fix deadly defects, so they wrote a law to avoid it (USA Today)

Used Vehicles Accounting for Larger Share of Auto Finance Market (Vehicle Remarketing)

-Automotive Wholesale News-

November Wholesale Values End at 2-Year Low (Vehicle Remarketing)

Why November Manheim Index faces tough comparison (Auto Remarketing)

-Automotive Ownership News-

Commuting costs Americans over $16 billion per year, data shows (USA Today)

Costs of Daily Commute Higher Than Expected (The Detroit Bureau)

-Automotive Servicing News-

Another 1.4M vehicles added to Takata airbag recall (Auto Remarketing)

Ford recalls 262,000 pickup trucks with defective tailgate latches (MarketWatch)

-General Business & Executive News-

Award recognizes DealerPolicy for advancing the independent agent channel (Auto Remarketing)

Chevy Suburban Is First Inanimate Object to Get a Star on Hollywood Walk of Fame (Car and Driver)

Consumer Spending Is Keeping the Economy From Shrinking--But a New Survey of 10,000 Americans Says That Might End in 2020 (Inc.com)

Ex-GM board member, union leader pleads guilty to accepting kickbacks (CNBC)

IAS Acquired by iA Financial for $720M (Auto Dealer Today)

Total customer lifetime value for dealers estimated at more than $50K (Auto Remarketing)

Vroom, An Online Delivery Platform For Used Cars, Raises $254M Series H (Crunchbase)

-AEA Reminder-

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Have a great week,

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