NADA End Of Day Automotive News Recap - January 17, 2019
NADA End-of-Day Automotive News Recap
•U.S. officials are debating ratcheting back tariffs on Chinese imports as a way to calm markets and give Beijing an incentive to make deeper concessions in a trade battle that has rattled global economies.
Source: The Wall Street Journal
•Declining auto sales could be a very good thing for General Motors and Ford Motor Co., at least when it comes to their stock value. One reason the companies' shares have languished ... is investor skepticism that the automakers will remain disciplined and profitable during an inevitable downturn, said John Murphy, managing director of automotive equity research at Bank of America Merrill Lynch.
Source: Automotive News
•The glass-half-full people would like you to know that no matter how many Americans decide to purchase sport utility vehicles, millions of other consumers will still buy their sedans. Those people are the ones from Volkswagen, Nissan, Hyundai and Honda who, at this week’s Detroit auto show, politely asked that the world not get too carried away in declaring the death of the passenger car.
•Many Chinese carmakers have announced plans to start exporting to the U.S. but none of them has managed to crack the lucrative retail market. Kandi Technologies Group Inc. may become the first. The Nasdaq-listed company, which started making electric cars in 2013, plans to ship two of its models to the U.S. this year, Chairman and Chief Executive Officer Hu Xiaoming said in a telephone interview Wednesday.
•Ford Motor Co. confirmed plans to build a fully electric F-Series pickup, which industry observers called an unexpected move that protects the truck franchise against Tesla and other competitors. “We’re going to be electrifying the F-Series — battery electric and hybrid,” Jim Farley, Ford president of global markets, said Wednesday during a presentation at the Deutsche Bank Global Automotive Conference in the MGM Grand in Detroit.
Source: Detroit Free Press