The discussion covers major automotive industry news including Ford's $165 million fine for delayed backup camera recalls and Hyundai's historic appointment of Jose Munoz as CEO, the first non-Korean in that role. The episode also highlights President Trump's plan to eliminate the $7,500 EV tax credit, potentially impacting US electric vehicle sales and manufacturers. Nissan faces pressure from activist investors amid restructuring and new EV launches. Acura introduces a new small crossover, and Chinese automaker Cherry reveals a unique sport MPV concept. Additionally, Yelp expands into automotive repair services by acquiring RepairPal.
Topics:ford backup camera recall fineev tax credit eliminationhyundai new ceonissan activist investorsnissan ev sedanacura small crossovercherry sport mpv conceptyelp automotive repairautomotive industry restructuringelectric vehicle market impact
- Trump to Kill $7,500 EV Tax Credit - U.S. Infrastructure Bill Will Lead to Higher CO2 Emissions - Hyundai Promotes Jose Munoz to CEO - NHTSA Fines Ford $165 Million Over Backup Camera Recall - Toyota Shares Insight on How to Improve Productivity - 2nd Activist Investor Buys into Nissan - Nissan Reveals New N7 EV Sedan - Acura Introduces New ADX Crossover - Chery Unveils Funky Van Concept - Yelp Expands Auto Business
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Speaker 1: This is Autoline Daily, the show dedicated to enthusiasts of the global automotive industry. While we knew this was probably
gonna happen, and now it's official, writer's reports that President Elect Trump is going to kill the seventy five hundred dollars consumer tax credit to buy electric cars. That could
cripple EV sales in the US, which are already running well below where the industry thought they would be, and it will financially damage automakers like GM and Ford, which have invested tens of billions of dollars to make evs.
In the short term. It may not hurt Lucid and
Rivian too much since their high income customers and vehicles probably didn't qualify for the subsidies, but it could hurt their efforts to move down market with more affordable vehicles.
This will also impact Tesla to some degree, but if it cripples the competition, Tesla will come out ahead, and even Elon Musk has admitted that one thing's for sure, this is going to make it nearly impossible for the US auto industry to catch the heavily subsidized Chinese industry to make electric cars. This may sound counterintuitive, but the
Biden administration's one point two trillion dollar Infrastructure Investment and Jobs Act from twenty twenty one will actually increase CO two emissions by nearly one hundred and ninety million metric tons by twenty forty. That's according to a new study
from Transportation for America, which says emissions will go up because a quarter of those funds are going towards expanding highways, which will lead to more car use. It says the
worst defender is Texas, But interestingly, the researchers also say that rural, more conservative states are simply repaving existing real not expanding them, and that will actually lead to fewer emissions.
Big news at Hyundai today, for the first time ever, it's appointed someone who is not Korean to run the company.
Jose Munoz was named CEO and president of the Hundai Motor Company. Prior to this, he was COO and also
ran Hyundai's operations in North America. Munyos is fifty nine
years old and was born in Spain, but is a US citizen. Earlier in his career he worked at Toyota
and Nissan. Ford has the dubious honor of having more
recalls than any other automaker in the past three years in the US, and now it's being fined one hundred and sixty five million dollars by the National Highway Traffic Safety Administration, or NITZA for dragging its heels on settling recalls.
That's the second largest civil fine ever issued by NIZZA, since it fined to cat A two hundred million bucks over its defective airbags in twenty fifteen. The safety agency
said Ford didn't recall twenty twenty model year vehicles with faulty backup cameras in a timely manner and didn't provide accurate and complete recall information. In addition to the fine,
Ford must develop a way to monitor safety data, build a documentation platform and testing lab, create a system for tracking components, review passed and current recalls, and it has to meet with officials from NITZA every single quarter. If
you work at an automotive supplier or are involved in purchasing at one of the car companies, I highly recommend that you take a look at a series of articles that Toyota published in the Toyota Times. It's in house magazine.
It's all about how Toyota and its Tier one suppliers are working with their Tier twos and threes to improve productivity.
These smaller companies typically don't have the knowledge or the training to do this, even though it usually takes some fairly simple procedures to make changes. The idea, of course,
is to lower cost, ensure on time delivery, get rid of defects, and to eliminate waste. Toyota calls the Effort
group collaborative activities, and the articles gives some really good insights on how to improve productivity. You can find the
stories on Toyota's global media website or look for the Lincoln Today's transcript or description box.
Speaker 2: There's nothing wrong with heavy metal hy light enough, but with world class composite material taging automotive technologies makes vehicles lighter, safer, and more eco friendly.
Speaker 1: Executives at Nissan might be more worried about their future than we originally thought. Earlier this week, it was revealed
that an active is shared holder company bought two and a half percent of Nissan shares, which sent its stock price up. But the problem is the activist shareholder a
Fisimo is known for investing in distressed companies and demanding structural changes, and now reports are coming out that another activist investor, Oasis Management, has taken a minority stake in Nissan, and it's actually held its shares in the company longer than a Fisimo. The automaker recently cut its operating profit
for the year, said it's getting rid of nine thousand employees and is slashing global production by twenty percent, and if things don't start turning around, the calls for changes are only going to get louder and louder. New product
like the End seven electric sedan can help with that, and we feel like it's been fast tracked for that very reason. Sales kickoff in China in the first half
of next year, and the Nissan En seven is the first model to ride on a new modular architecture that it developed with its joint venture partner Dong Fong. It
calls it a medium to large sedan and it's actually about the size of a Nissan Maxima, but it features some of the newest tech, like an infotainment system powered by Qualcom snap Dragon processor and hands free driving capability provided by Momenta. It looks like the N seven is
just the beginning for Nissan. It says it plans to
speed up the development and the export of nvs from China.
Acura is expanding its lineup with another small crossover meet the ad X. Powering the model as a one and
a half liter four cylinder engine which is paired with a CVT and a standard all wheel drive system. The
interior is highlighted by standard digital displays, a ten inch screen for the driver and a nine inch display mounted high on the center of the dash. You'll start seeing
the ADYX arrive at dealers in the US early next year with a starting price around thirty five thousand dollars.
And check out this concept that Chinese automaker Cherry unveiled at the Guangzhou Auto Show, which is meant to be the preview of a production model. It's kind of hard
to describe its shape, but Cherry calls it a sport MPV or sporty minivan. However, it also has a real
funky rear end, front rear sliding doors which gives it a massive opening, and front swiveling seats. There's no doubt
a model like this would stick out on the road.
Have you ever used the app YELP to get restaurant reviews.
We found it to be pretty handy, especially when we're traveling and looking for a good place to eat. Well
if you want to find a good place to get your car repaired. Yelp is now expanding into automotive service.
It just purchased repair Pal for a dollars, which provides car repair locations and maintenance estimates. Repair Pal is partnered
with companies like CarMax, USAA and Endurance Vehicle Services, and Yelp says it's expertise and search engine optimization and AI will make repair Pal even better. That brings us to
the end of today's show. Thanks for making autoline a
part of your day and I hope that you have a great weekend.
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