CBT automotive newscast: April 20, 2021

Featured Interview:

How car dealerships can improve efficiency with remote work policies – Adam Robinson, Hireology
Ford recently announced a hybrid remote work model for its employees indefinitely. Salaried employees can continue to work from home, but will go into the office for meetings or workshops as necessary. Will we soon see other manufacturers follow suit? On today’s show, we are pleased to welcome Adam Robinson, CEO and Co-Founder of Hireology to discuss some of the key elements in today’s work-from-home environment, and what car dealerships can do to stand out in the recruiting process. Watch the full segment here.

Top Headlines:

Toyota plans to reevaluate its stance on climate change. On Monday, the automaker said it would review its lobbying and be more transparent on what steps it is taking. Toyota has faced tremendous pressure from activists and investors ever since 2019 when the company sided with the Trump administration in a bid to bar California from setting its own fuel efficiency standards. In a statement, Toyota said, “we will review public policy engagement activities through our company and industry associations to confirm they are consistent with the long-term goals of the Paris Agreement.”

One General Motors executive recently clarified that the company’s plan to be all-electric by 2035 is a goal, not a promise. GM’s President of North America Steve Carlisle said the automaker won’t give up on gasoline-powered vehicles so soon if consumers still want them. Many dealers have been concerned about the infrastructure needed to meet GM’s aggressive plan to become electric-only in the next 14 years.

Stellantis is experiencing production slowdowns at its plant that builds the Ram 1500. The State of Michigan is currently dealing with the worst surge of COVID-19 cases in the nation. A published report obtained by Detroit Free Press said the number of absent production workers who either tested positive or were in quarantine rose to 630 last week, up from 200 the week prior. According to Bloomberg, the Stellantis’ Sterling Heights Assembly Plant fell short of its daily build number by between 200 and 300 vehicles last week.

Ferrari CEO John Elkann recently told shareholders that the automaker plans to have its first battery-electric vehicle by 2025. While Elkann didn’t provide any details about the EV, he did call its development a landmark in Ferrari’s history. Automotive analysts believe the 2025 model will be the first of many electric variations in the company’s future. Ferrari will rely on new EV technologies to continue being a major competitor in major sports car markets.

News & Opinion:

Ford CEO Jim Farley jabs Tesla for FSD testing
Tesla might have led the way with battery-electric technology, but Ford isn’t going to take the fight lying down. With the release of the Mustang Mach-E, Ford’s CEO Jim Farley has decided to take a few swings at the pioneer. Farley’s hope is that consumers will see that Ford doesn’t approach testing the same way as Tesla. The automaker doesn’t plan to use customers the way that Tesla has for testing out driverless technology. Read more

Vaccination rate, consumer confidence back the auto retail surge
The American economy is trending positively once again with consumer spending and confidence both on the increase. The upward movement is on the shoulders of several stimuli including strong workforce performance, government stimulus money, and soaring consumer confidence hinging on vaccine rollouts. On Monday, the CDC reported that half of American adults have now received at least one dose of the COVID-19 vaccine with 84 million fully vaccinated. Read more