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Yesterday, President Donald Trump announced a new round of tariffs on about $200 billion in Chinese goods beginning next Monday. The tariffs are set at 10 percent and could rise to 25 percent in January if the Chinese government refuses to offer concessions. Today, the Chinese government announced that it would take retaliatory action by placing tariffs on $60 billion of U.S. goods. This is bad news for automakers as the Detroit Free Reports that more than 100 car parts - ranging from tires to batteries - will be hit by the tariffs. Analysts told the paper the increased tariffs will raise prices and cause sales to fall, along with profits being cut for automakers. It's going to be felt by Americans and it's going to be a big deal. Tariffs are taxes on consumption. Eventually, costs will be passed down to the consumer. This will drive vehicle costs higher. It also includes a lot of body shop equipment," said Peter Nagle, senior analyst at IHS Markit. Analysts all agree that prices will go up, but aren't sure by how much. "Prices are going to go up, but they won't go up by 25 percent. It is most unfortunate that this is coming at a time when the auto cycle is in very late stage. Vehicle sales already are in slow decline. This will probably will be quite a gut punch when they are forced to raise prices," explained Jon Gabrielsen, a market economist who advises automakers and auto suppliers. "It covers literally everything that goes into the construction of an automobile, from the smallest components and material inputs like the cords in tires and shafts and gears and bearings all the way up to completed engines and, in some cases, chassis with engines mounted. Thing is, it takes about three years to source each product. It takes many years and possibly a decade to make that full move." Automakers didn't comment as to how they plan to absorb and pass the cost onto consumers. They did reiterate pleas for both governments to sit down and work this out. Source: Detroit Free Press, Bloomberg via Automotive News (Subscription Required) View full article- 10 replies
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Why New Car Prices Are Expected To Rise Next Year
William Maley posted an article in Automotive Industry
Yesterday, President Donald Trump announced a new round of tariffs on about $200 billion in Chinese goods beginning next Monday. The tariffs are set at 10 percent and could rise to 25 percent in January if the Chinese government refuses to offer concessions. Today, the Chinese government announced that it would take retaliatory action by placing tariffs on $60 billion of U.S. goods. This is bad news for automakers as the Detroit Free Reports that more than 100 car parts - ranging from tires to batteries - will be hit by the tariffs. Analysts told the paper the increased tariffs will raise prices and cause sales to fall, along with profits being cut for automakers. It's going to be felt by Americans and it's going to be a big deal. Tariffs are taxes on consumption. Eventually, costs will be passed down to the consumer. This will drive vehicle costs higher. It also includes a lot of body shop equipment," said Peter Nagle, senior analyst at IHS Markit. Analysts all agree that prices will go up, but aren't sure by how much. "Prices are going to go up, but they won't go up by 25 percent. It is most unfortunate that this is coming at a time when the auto cycle is in very late stage. Vehicle sales already are in slow decline. This will probably will be quite a gut punch when they are forced to raise prices," explained Jon Gabrielsen, a market economist who advises automakers and auto suppliers. "It covers literally everything that goes into the construction of an automobile, from the smallest components and material inputs like the cords in tires and shafts and gears and bearings all the way up to completed engines and, in some cases, chassis with engines mounted. Thing is, it takes about three years to source each product. It takes many years and possibly a decade to make that full move." Automakers didn't comment as to how they plan to absorb and pass the cost onto consumers. They did reiterate pleas for both governments to sit down and work this out. Source: Detroit Free Press, Bloomberg via Automotive News (Subscription Required) -
Dodge Increases Hellcat Engine Production Due To Increased Demand
William Maley posted an article in Dodge
The Dodge Hellcat models are a huge success with 4,000 Challenger and Charger Hellcat models sold out of a total of 88,000 muscle cars. "It's a small sliver of what we sell, but it really creates a halo for the rest of the lineup," said Dodge and SRT CEO Tim Kuniskis to Automotive News. It has become quite a success for the brand that Dodge is increasing production of the Hellcat engine to help reduce the "huge flood” of orders. This will be the second increase in production of the Hellcat models. "We're going to build more [Hellcats] for 2016. We stopped taking all Hellcat orders months ago so that we could catch up to that demand, and then we will launch the 2016s," said Kuniskis. Kuniskis didn't say how much of a production increase they will do. Source: Automotive News (Subscription Required) -
The Dodge Hellcat models are a huge success with 4,000 Challenger and Charger Hellcat models sold out of a total of 88,000 muscle cars. "It's a small sliver of what we sell, but it really creates a halo for the rest of the lineup," said Dodge and SRT CEO Tim Kuniskis to Automotive News. It has become quite a success for the brand that Dodge is increasing production of the Hellcat engine to help reduce the "huge flood” of orders. This will be the second increase in production of the Hellcat models. "We're going to build more [Hellcats] for 2016. We stopped taking all Hellcat orders months ago so that we could catch up to that demand, and then we will launch the 2016s," said Kuniskis. Kuniskis didn't say how much of a production increase they will do. Source: Automotive News (Subscription Required) View full article
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NHTSA Needs More Staff, Senate Undecided On Whether To Do It
William Maley posted an article in Automotive Industry
2014 will go down as the year as the recall, but also the year where many glaring issues of the National Highway Traffic Safety Administration were made evident - mostly due to the GM ignition switch mess. Transportation Secretary Anthony Foxx told reporters on Tuesday couldn’t keep pace at current staffing levels with 75,000 complaints coming in every year. “It’s no longer reasonable frankly to expect an office with 8 screeners and 16 defects investigators to adequately analyze 75,000 complaints a year,” said Foxx. Now there appears to be change in the air. The Detroit News reports that President Barrack Obama is proposing to increase NHTSA's budget for its Office of Defects Investigation from $10.7 million to $31 million. The increase would add NHTSA to add add 57 people to a staff of more than 100 and also use stronger data mining and monitoring tools to detect problems faster. “This is about giving NHTSA the tools it needs,” said Foxx. However, some folks on the Senate Commerce Committee isn't fully on board with a budget increase. “We think there are ways too that you could reform and accomplish some things (without higher funding). Clearly, we want to work with them, but it’s going to be tough in this budgetary environment with all the constraints that we’re dealing with to get significant increases in funding for any agency,” said Senator John Thune, R-S.D, chairman of the U.S. Senate Commerce Committee. Others think the increase is a step in the right direction. NHTSA needs to do something and obviously they are getting a lot of complaints. (NHTSA’s) ability to field all of the complaints has been difficult in the last couple of years — and people paid a price for that,” said Senator Dean Heller, R-Nev. Source: The Detroit News, 2 -
2014 will go down as the year as the recall, but also the year where many glaring issues of the National Highway Traffic Safety Administration were made evident - mostly due to the GM ignition switch mess. Transportation Secretary Anthony Foxx told reporters on Tuesday couldn’t keep pace at current staffing levels with 75,000 complaints coming in every year. “It’s no longer reasonable frankly to expect an office with 8 screeners and 16 defects investigators to adequately analyze 75,000 complaints a year,” said Foxx. Now there appears to be change in the air. The Detroit News reports that President Barrack Obama is proposing to increase NHTSA's budget for its Office of Defects Investigation from $10.7 million to $31 million. The increase would add NHTSA to add add 57 people to a staff of more than 100 and also use stronger data mining and monitoring tools to detect problems faster. “This is about giving NHTSA the tools it needs,” said Foxx. However, some folks on the Senate Commerce Committee isn't fully on board with a budget increase. “We think there are ways too that you could reform and accomplish some things (without higher funding). Clearly, we want to work with them, but it’s going to be tough in this budgetary environment with all the constraints that we’re dealing with to get significant increases in funding for any agency,” said Senator John Thune, R-S.D, chairman of the U.S. Senate Commerce Committee. Others think the increase is a step in the right direction. NHTSA needs to do something and obviously they are getting a lot of complaints. (NHTSA’s) ability to field all of the complaints has been difficult in the last couple of years — and people paid a price for that,” said Senator Dean Heller, R-Nev. Source: The Detroit News, 2 View full article
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By William Maley Staff Writer - CheersandGears.com February 28, 2013 Before the Chevrolet Volt was launched, General Motor executives were making some very bold claims on production numbers, throwing numbers like 60,000 or 45,000 Volts a year. Since going into production, GM has sold 7,671 Volts in 2011 and 23,461 in 2012. Combine the Opel and Vauxhall Ampera and then you're looking around 30,000 plug-in vehicles. Now for 2013, General Motors looks to be boosting their production number, albeit more realistic. Bloomberg reports that General Motors is planning to boost production of their plug-in vehicles to 36,000, a 20% increase. This information comes from two sources familiar with the matter. Source: Bloomberg William Maley is a staff writer for Cheers & Gears. He can be reached at [email protected] or you can follow him on twitter at @realmudmonster. View full article
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GM Plans To Increase Production Of Plug-In Vehicles
William Maley posted an article in General Motors
By William Maley Staff Writer - CheersandGears.com February 28, 2013 Before the Chevrolet Volt was launched, General Motor executives were making some very bold claims on production numbers, throwing numbers like 60,000 or 45,000 Volts a year. Since going into production, GM has sold 7,671 Volts in 2011 and 23,461 in 2012. Combine the Opel and Vauxhall Ampera and then you're looking around 30,000 plug-in vehicles. Now for 2013, General Motors looks to be boosting their production number, albeit more realistic. Bloomberg reports that General Motors is planning to boost production of their plug-in vehicles to 36,000, a 20% increase. This information comes from two sources familiar with the matter. Source: Bloomberg William Maley is a staff writer for Cheers & Gears. He can be reached at [email protected] or you can follow him on twitter at @realmudmonster. -
William Maley Staff Writer - CheersandGears.com December 11, 2012 Maserati is making some ambitious sales predictions for the brand and the new Quattroporte that will be shown next month at Detroit. At the press introduction of the new Quattroporte in Nice, France, Maserati brand CEO Harald Wester said their parent company Fiat would be investing close to $1.6 billion into the brand to help revitalize and make it more competitive. Maserati will be launching three new vehicles in coming months; the Quattroporte being the first. With those new models, Maserati has set a target of 50,000 vehicles by 2015, a large increase from the 6,159 units sold last year. For the new Quattroporte, Maserati is hoping to sell 13,000 models in 2013. Maserati is hoping to leverage some of Chrysler's dealer network to help pull these ambitious sales goals. Some industry analysts are skeptical of Maserati's lofty sales goals though. "Maserati has the right reputation and consumers are out there for more premium cars, especially in the U.S. and China. On the other hand, their target is incredibly ambitious," said Neil King, an analyst at Euromonitor International in London to Automotive News Europe. Source: Automotive News Europe William Maley is a staff writer for Cheers & Gears. He can be reached at [email protected] or you can follow him on twitter at @realmudmonster. View full article
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William Maley Staff Writer - CheersandGears.com December 11, 2012 Maserati is making some ambitious sales predictions for the brand and the new Quattroporte that will be shown next month at Detroit. At the press introduction of the new Quattroporte in Nice, France, Maserati brand CEO Harald Wester said their parent company Fiat would be investing close to $1.6 billion into the brand to help revitalize and make it more competitive. Maserati will be launching three new vehicles in coming months; the Quattroporte being the first. With those new models, Maserati has set a target of 50,000 vehicles by 2015, a large increase from the 6,159 units sold last year. For the new Quattroporte, Maserati is hoping to sell 13,000 models in 2013. Maserati is hoping to leverage some of Chrysler's dealer network to help pull these ambitious sales goals. Some industry analysts are skeptical of Maserati's lofty sales goals though. "Maserati has the right reputation and consumers are out there for more premium cars, especially in the U.S. and China. On the other hand, their target is incredibly ambitious," said Neil King, an analyst at Euromonitor International in London to Automotive News Europe. Source: Automotive News Europe William Maley is a staff writer for Cheers & Gears. He can be reached at [email protected] or you can follow him on twitter at @realmudmonster.
