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Yesterday, President Donald Trump announced that he had reached an agreement with Japanese Prime Minister Shinzo Abe to open trade talks between the two nations. Previously, the president had threatened a 25 percent tariff on cars to reduce imports and encourage more production in the U.S. The two agree that the "sanctions on auto exports won’t be applied while the talks take place." A key topic of talks will likely be giving better access to U.S. cars to be sold in Japan, something President Trump has complained about before. Data from Japan’s auto industry associations said only 0.3 percent of the 3.2 million vehicles sold in the country this year when American brands. Contrast this to 40 percent of the U.S.' market share being made up by Japanese automakers according to Bloomberg. But there arises a problem with Trump's ambition, Japanese buyers aren't interested. Japan has argued time and time again that the reason American automakers don't do some well is the perception of that American cars are " bulky and inefficient". There is one American brand that bucks this trend, Jeep. According to Bloomberg, Jeep sold more than 7,000 vehicles in the first eight months of this year - beating all other U.S. brands combined. Source: Bloomberg (Subscription Required) -
Yesterday, President Donald Trump announced that he had reached an agreement with Japanese Prime Minister Shinzo Abe to open trade talks between the two nations. Previously, the president had threatened a 25 percent tariff on cars to reduce imports and encourage more production in the U.S. The two agree that the "sanctions on auto exports won’t be applied while the talks take place." A key topic of talks will likely be giving better access to U.S. cars to be sold in Japan, something President Trump has complained about before. Data from Japan’s auto industry associations said only 0.3 percent of the 3.2 million vehicles sold in the country this year when American brands. Contrast this to 40 percent of the U.S.' market share being made up by Japanese automakers according to Bloomberg. But there arises a problem with Trump's ambition, Japanese buyers aren't interested. Japan has argued time and time again that the reason American automakers don't do some well is the perception of that American cars are " bulky and inefficient". There is one American brand that bucks this trend, Jeep. According to Bloomberg, Jeep sold more than 7,000 vehicles in the first eight months of this year - beating all other U.S. brands combined. Source: Bloomberg (Subscription Required) View full article
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President Donald Trump is no fan of German automakers. Take for instance this quote from last January, He has also made comments about BMW in the past few months in light of possible tariffs (which appear to be going into effect today). Now, new comments have been brought to light where the president wants to try and ban German cars from the U.S. German magazine Wirtschaftswoche reports that during French President Emmanuel Macron's visit to the U.S. in April, Trump said that he will maintain his current trade policy "until no Mercedes models rolled on Fifth Avenue in New York." This information comes from several unnamed European and U.S. diplomats. At the time of this writing, Reuters hasn't able to verify this information. As we reported last week, the Trump administration has ordered a probe into new car imports on the basis of national security. It may result in imported vehicles being hit with a 25 percent tariff. Let's suppose that President Trump somehow presents a ban on German cars, trying to get it implemented may be quite problematic .For one, not all vehicles from German automakers will fall under the ban - an example is the Mercedes-Benz G-Class is built in Austria by Magna-Steyr. German automakers also have a sizable production presence in the U.S. Germany’s auto industry association VDA said German automakers built 804,000 vehicles in the U.S. last year. One thing is for sure; automakers will be dealing with more uncertainty for some time. Source: Wirtschaftswoche, Reuters -
President Donald Trump is no fan of German automakers. Take for instance this quote from last January, He has also made comments about BMW in the past few months in light of possible tariffs (which appear to be going into effect today). Now, new comments have been brought to light where the president wants to try and ban German cars from the U.S. German magazine Wirtschaftswoche reports that during French President Emmanuel Macron's visit to the U.S. in April, Trump said that he will maintain his current trade policy "until no Mercedes models rolled on Fifth Avenue in New York." This information comes from several unnamed European and U.S. diplomats. At the time of this writing, Reuters hasn't able to verify this information. As we reported last week, the Trump administration has ordered a probe into new car imports on the basis of national security. It may result in imported vehicles being hit with a 25 percent tariff. Let's suppose that President Trump somehow presents a ban on German cars, trying to get it implemented may be quite problematic .For one, not all vehicles from German automakers will fall under the ban - an example is the Mercedes-Benz G-Class is built in Austria by Magna-Steyr. German automakers also have a sizable production presence in the U.S. Germany’s auto industry association VDA said German automakers built 804,000 vehicles in the U.S. last year. One thing is for sure; automakers will be dealing with more uncertainty for some time. Source: Wirtschaftswoche, Reuters View full article
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In a not surprising move, President Donald Trump announced today that his administration will reopen a review into the 2025 fuel economy standards set by the EPA before the end of President Barack Obama's term. “We’re going to work on the CAFE standards so you can make cars in America again. There is no more beautiful sight than an American-made car,” said Trump at an event in the former Willow Run bomber factory in Ypsilanti, Michigan - soon to become a testing ground for autonomous vehicles. "These standards are costly for automakers and the American people. We will work with our partners at DOT to take a fresh look to determine if this approach is realistic. This thorough review will help ensure that this national program is good for consumers and good for the environment," said EPA Administrator Scott Pruitt. In the closing days of President Obama's second term, the EPA announced that it would keep the strict standards that will require automakers to raise their fleetwide fuel economy average to 54.5 mpg by 2025. Automakers cried foul, saying the upcoming standards are costly and out of touch with the current market (i.e. low gas prices and people gobbling up crossovers, pickups, and SUVs). It is expected that the 54.5 mpg average will drop, but no one is sure how much it would drop. Reaction to this announcement has been mixed. Automakers and lobby groups approve of this move as it allows them to focus on building vehicles people want, instead of being pushed into building vehicles that will not sell. "The Trump Administration has created an opportunity for decision-makers to reach a thoughtful and coordinated outcome predicated on the best and most current data," said Mitch Bainwol, chief executive of the AutoAlliance, an industry lobby group that represents a number of automakers including Ford and GM. Other groups are not so pleased with this move. "Today's announcement of backtracking on vehicle standards for model years 2022-2025 puts at risk tens of billions of dollars of fuel savings for consumers and big reductions in tailpipe emissions," said Therese Langer, transportation program director for the American Council for an Energy-Efficient Economy, in a statement. "Any delay in settling efficiency standards introduces uncertainty that will disrupt manufacturers' product planning. What is certain is that technological stagnation is not a recipe for continuing the remarkable success our domestic manufacturers have achieved in recent years." Democratic U.S. Senator Edward Markey of Massachusetts tells Reuters this move could actually hurt consumers. "Filling up their cars and trucks is the energy bill Americans pay most often, but President Trump's roll-back of fuel economy emissions standards means families will end up paying more at the pump," said Markey Source: Automotive News (Subscription Required), Reuters, Roadshow -
In a not surprising move, President Donald Trump announced today that his administration will reopen a review into the 2025 fuel economy standards set by the EPA before the end of President Barack Obama's term. “We’re going to work on the CAFE standards so you can make cars in America again. There is no more beautiful sight than an American-made car,” said Trump at an event in the former Willow Run bomber factory in Ypsilanti, Michigan - soon to become a testing ground for autonomous vehicles. "These standards are costly for automakers and the American people. We will work with our partners at DOT to take a fresh look to determine if this approach is realistic. This thorough review will help ensure that this national program is good for consumers and good for the environment," said EPA Administrator Scott Pruitt. In the closing days of President Obama's second term, the EPA announced that it would keep the strict standards that will require automakers to raise their fleetwide fuel economy average to 54.5 mpg by 2025. Automakers cried foul, saying the upcoming standards are costly and out of touch with the current market (i.e. low gas prices and people gobbling up crossovers, pickups, and SUVs). It is expected that the 54.5 mpg average will drop, but no one is sure how much it would drop. Reaction to this announcement has been mixed. Automakers and lobby groups approve of this move as it allows them to focus on building vehicles people want, instead of being pushed into building vehicles that will not sell. "The Trump Administration has created an opportunity for decision-makers to reach a thoughtful and coordinated outcome predicated on the best and most current data," said Mitch Bainwol, chief executive of the AutoAlliance, an industry lobby group that represents a number of automakers including Ford and GM. Other groups are not so pleased with this move. "Today's announcement of backtracking on vehicle standards for model years 2022-2025 puts at risk tens of billions of dollars of fuel savings for consumers and big reductions in tailpipe emissions," said Therese Langer, transportation program director for the American Council for an Energy-Efficient Economy, in a statement. "Any delay in settling efficiency standards introduces uncertainty that will disrupt manufacturers' product planning. What is certain is that technological stagnation is not a recipe for continuing the remarkable success our domestic manufacturers have achieved in recent years." Democratic U.S. Senator Edward Markey of Massachusetts tells Reuters this move could actually hurt consumers. "Filling up their cars and trucks is the energy bill Americans pay most often, but President Trump's roll-back of fuel economy emissions standards means families will end up paying more at the pump," said Markey Source: Automotive News (Subscription Required), Reuters, Roadshow View full article
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The CEOs of Detroit's three automakers met with President Donald Trump this morning to talk about investments. Specifically, investments into U.S. manufacturing. "We have a very big push on to have auto plants and other plants -- many other plants," Trump told reporters at the meeting. “We’re going to make the process much more simple for the oil companies and everybody else that wants to do business in the United States.” During the meeting, Trump told the CEOs that he plans on cutting corporate tax rates to 15-20 percent, and reduce regulations by 75 percent. “We think we can cut regulations by 75 percent. Maybe more. When you want to expand your plant, or when Mark wants to come in and build a big massive plant, or when Dell wants to come in and do something monstrous and special -- you’re going to have your approvals really fast,” said Trump. One regulation that is likely going to be shown the door are the EPA's 2025 fuel economy regulations which were set in stone during the final days of President Obama's tenure. Automakers have been asking President Trump to rethink the aggressive mandates set by the agency. “I am, to a large extent, an environmentalist. I believe in it. But, it’s out of control,” said Trump. After the meeting, Ford CEO Mark Fields seemed the most upbeat when speaking to reporters. "As an industry we're excited about working together with the president," said Fields. GM CEO Mary Barra said she sees a “huge opportunity” with working with the president to “improve the environment, improve safety and improve job creation.” FCA CEO Sergio Marchionne was less enthused than the other two, stating the meeting was a positive one. Source: Automotive News (Subscription Required), Detroit Free Press View full article
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When the Detroit Three Met With President Trump
William Maley posted an article in Automotive Industry
The CEOs of Detroit's three automakers met with President Donald Trump this morning to talk about investments. Specifically, investments into U.S. manufacturing. "We have a very big push on to have auto plants and other plants -- many other plants," Trump told reporters at the meeting. “We’re going to make the process much more simple for the oil companies and everybody else that wants to do business in the United States.” During the meeting, Trump told the CEOs that he plans on cutting corporate tax rates to 15-20 percent, and reduce regulations by 75 percent. “We think we can cut regulations by 75 percent. Maybe more. When you want to expand your plant, or when Mark wants to come in and build a big massive plant, or when Dell wants to come in and do something monstrous and special -- you’re going to have your approvals really fast,” said Trump. One regulation that is likely going to be shown the door are the EPA's 2025 fuel economy regulations which were set in stone during the final days of President Obama's tenure. Automakers have been asking President Trump to rethink the aggressive mandates set by the agency. “I am, to a large extent, an environmentalist. I believe in it. But, it’s out of control,” said Trump. After the meeting, Ford CEO Mark Fields seemed the most upbeat when speaking to reporters. "As an industry we're excited about working together with the president," said Fields. GM CEO Mary Barra said she sees a “huge opportunity” with working with the president to “improve the environment, improve safety and improve job creation.” FCA CEO Sergio Marchionne was less enthused than the other two, stating the meeting was a positive one. Source: Automotive News (Subscription Required), Detroit Free Press
