Daily Newscast: Sonic Automotive’s answer to online retailing, emissions regulations and Honda’s big U.S. investment

Sonic Automotive

In today’s CBT Newscast for Thursday March 16, 2017:

Sonic Automotive’s Executive Vice President of Operations, Jeff Dyke sits down with Joe Gumm to discuss the company’s answer to online retailing. He believes the automotive group has it all figured out. Tune into the full interview for an in-depth look on how Sonic Automotive is making bold moves in 2017.

When it comes to the topic of emissions regulations, no one has a bigger opinion than Mike Jackson, CEO of AutoNation. In an interview with CNBC’s Squawk Box this week, he said, “The implications of standards that are too extreme and too disconnected from reality you produce products people won’t buy.” According to reports, President Trump is expected to announce a rollback of Obama-era auto emission and fuel regulations.

Watch the story here and stay tuned to CBT News for more breaking coverage on this topic.

Today’s OEM Headlines [Watch]:

      • Forbes says the Trump administration’s move to roll back existing federal fuel efficiency targets of 54.5 miles per gallon for model year 2022-2025 cars and light trucks, would be a terrible deal for American drivers.  The move is endorsed by U.S. auto dealers and auto manufacturers. It would cost the economy $800 billion dollars and add six billion tons of carbon dioxide to the atmosphere by 2050.
        Source: Forbes
      • Lamborghini is open to an all-electric addition to its line-up of luxury sports cars.  Evidence (according to CNBC) that German parent Volkswagen’s interest in producing zero-emission vehicles could extend to the very top end of its brands.  In the meantime, the 54-year-old Italian car firm will launch its new SUV, URUS towards the end of 2017.
        Source: CNBC
      • Reuters reports Honda has invested nearly $150 million in two U.S. plants for making a 10-speed automatic transmission for front-wheel-drive vehicles.  The investment includes $100 million for a new assembly line and production modifications in Tallapoosa, Georgia and $49 million in Russells point, Ohio. The new automatic transmission will go first in the 2018 Honda Odyssey.
        Source: Reuters
      • Detroit bureau reports…with sales of the Hyundai Sonata falling 1.7% last year and 31% in the first two months of this year, the South Korean automotive manufacturer hopes its rollout of a mid-cycle styling update lights a fire under consumers.  The new iteration of the sonata features a sportier look with a curvy hood and a bigger grille.
        Source: The Detroit Bureau