Top NADA Automotive Stories January 2, 2019
New Year Promises Confrontation, Change for Detroit Autos
Happy New Year: Detroit's three automakers are poised for the most tumultuous year since two of them emerged from federally induced bankruptcy a decade ago. Expect the year ahead to bring confrontation and change. CEOs charged with navigating Old Economy manufacturers through the auto industry's greatest transformation since the moving assembly line inevitably will clash with paternalistic tradition and its implied obligation. That's especially true for Fiat Chrysler Automobiles NV and General Motors Co., each rescued with money from the American taxpayers.
Source: The Detroit News
What Comes Next for Carlos Ghosn, Who Remains in a Tokyo Jail
Almost two months after his shock arrest in Tokyo, Carlos Ghosn remains at the mercy of the Japanese legal system, as prosecutors continue to build their case against the car industry titan. A Tokyo court extended the detention of the former Nissan Motor Co. chairman for another 10 days on New Year’s Eve after he was re-arrested on fresh charges Dec. 21.
Hyundai Flags Tough 2019 as U.S., China Demand Stays Slow
South Korea’s Hyundai Motor Group flagged another year of tepid car sales growth on the back of a slow 2018, saying trade protectionism adds uncertainty and major markets such as the United States and China remained sluggish. In his first New Year address to employees, group heir apparent Euisun Chung said Hyundai Motor Co. and Kia Motors Corp. would complete a restructuring of South Korea’s second-biggest conglomerate, which is widely expected to pave the way for him to formally succeed his octogenarian father as head of the group.
'Toyotathon' Has Given Toyota a Big Year-End Promotional Push for Nearly Four Decades
"Toyotathon" began redefining the end of the automotive sales and marketing year nearly four decades ago, when the Japanese brand, then still an upstart, tried to goose sales during a Christmas season that traditionally had been one of the sleepiest times of the year in the U.S. auto market.