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CBT automotive newscast: December 16, 2021

Inside Automotive:

The Presidio Group’s Jim Press and Brodie Cobb discuss today’s automotive landscape
Throughout the past year, we’ve seen The Presidio Group facilitate a number of large industry transactions. Their latest acquisition isn’t a company, but rather, a familiar face. After spending over 37 years with Toyota followed by executive roles with Chrysler, Cerberus Capital, and Renault/Nissan, Jim Press has now been named Strategic Advisor for The Presidio Group. Watch the complete segment here.

Headlines:

Toyota plans to build 800,000 vehicles in January, which would be an all-time record for the month. That number is 60,000 higher than January 2021’s output. Toyota predicts that it will lose 14,000 units of planned production this month. The automaker plans to build 9 million vehicles during the current fiscal year, which is down from 9.5 million cars in 2020 and 10.7 million in 2021. It’s still on track to be the world’s largest automaker in 2021.

Michigan legislators passed a $1.5 billion bill with state incentives to land major business expansions, including an EV battery factory that GM wants to build in the Lansing area. The House and Senate approved the bill on their last session day of 2021, featuring $1 billion for economic development incentives. The Lansing City Council approved local tax breaks for the proposed GM project, which could cost up to $2.5 billion and employ as many as 1,700 workers. Lawmakers also say Michigan could have 3 other big deals announced as soon as next month.

Half a dozen more women are suing Tesla, alleging “rampant” workplace sexual harassment at its Fremont, California plant and facilities. In six separate suits, women who worked in the factory or service center say their male co-workers frequently made comments about their bodies and clothing, some women alleging that they were moved from their workstations after reporting the behavior. The women also said they were consistently subjected to catcalling, unwanted advances, physical contact, and discrimination at work. Tesla did not respond to a request for comment.

News & Opinion:

Toyota announces a $70 billion commitment to EVs
This week, Toyota announced its plans to further its commitment to electric vehicles, stating it will be allocating $70 billion to the development of its electric lineup. The announcement is quite significant, as Toyota has been criticized for lagging behind in the transition to EVs and has also been accused of attempting to slow down their evolution of them. The automaker announced it is working to have a full lineup of thirty EVs by 2030, possibly including some sort of compact sports car. Read more

5 habits of a successful BDC manager
More than ever, the internet and phones are the “new” showroom, making your BDC a conduit to your bricks-and-mortar store. Increasingly, agents have the critical role of converting online shoppers into showroom appointments. Is your BDC manager up to the task of properly training, motivating, and incentivizing agents to maximize opportunities? Highly successful BDC managers understand the importance of their role and cultivate habits that push their agents to succeed. Here’s how they do it. Read more


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CBT News
CBT News
For over 10 years, CBT News has been informing and helping automotive retail professionals grow their businesses and thrive in their careers through an awarding-winning, on-demand streaming platform. With exclusive interviews featuring the biggest names in the industry, daily newscasts, up-to-date market data, and exclusive articles covering the latest trends, CBT News is your #1 source for auto industry news and content.

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