2019 Toyota Camry Xle on 2040-cars

Auto blog

Krafcik says US Gov. shutdown is slowing Oct. auto sales

The government shutdown is eroding consumer confidence in the auto market, says John Krafcik, CEO of Hyundai's US sales unit, and could lower October sales by as much as 10 percent, Automotive News reports. "It's that anxiety that keeps customers, potential buyers, on the sidelines when making a big purchase like an automobile," Krafcik says, adding that industry sales could be off by five to 10 percent in October compared to September.
The fourth quarter, which started October 1, usually consists of increased auto sales as dealerships clear their lots to make room for the next year's models. Leading up to the fourth quarter this year, the auto industry was doing well in the fragile, recovering US economy, although September deliveries decreased by 4.2 percent, due in part to this year's Labor Day sales being recorded for August.
To help its customers, Hyundai announced it is deferring new-car loan and lease payments for furloughed federal workers until they're called back to work and also offering them a three-month payment deferral if they buy a new Hyundai in October. "We have already had requests from over a thousand people to have their payments deferred," Krafcik says.

Canada names former Toyota exec as new car czar

The governments of the Canada and the province of Ontario have jointly named a new car czar to advise them on how to attract more business from the automotive industry. Automotive News reports that the new role will fall to Ray Tanguay (pictured above at center), an Ontario native who used to head Toyota's Canadian operations and currently chairs the Canadian Automotive Partnership Council. In announcing the appointment, the Canadian federal minister of industry and the Ontario provincial economic minister highlighted the roles played by their governments in bailing out General Motors and Chrysler during the financial crisis, and their country's place in the North American automotive industry. The announcement was made against the backdrop of a shifting industry, however, which has been growing in the southern United States and in Mexico, but has been shrinking by contrast in Canada. With the Canadian dollar and labor costs both rising, automakers have been closing and downsizing their plants in the country. AN points out that the only new plant built in Canada in the past two decades was the Toyota facility in Woodstock, Ontario – which Tanguay spearheaded. News Source: Automotive News - sub. req.Image Credit: Rogelio V. Solis/AP Government/Legal Hirings/Firings/Layoffs Plants/Manufacturing Toyota car czar

Auto execs surveyed say VW, BMW most likely to grow

A new survey of top global automotive executives indicates both Volkswagen and BMW are the most likely to grow their market share over the next five years.
Tax advisory firm KPMG LLP has released its 14th annual Global Automotive Executive Survey, which includes responses from over 200 executives. A total of 81 percent of respondents said they expect to see Volkswagen make gains, compared to 70 percent last year. BMW, meanwhile, saw 70 percent of those surveyed say they believe the company will increase its market share. That's a jump of 7 percentage points over last year. This is the first time in the history of the survey that BMW has claimed the second-place spot.
Meanwhile, Hyundai has seen its perceived market share potential slacken for the third year in a row. Around 61 percent of those surveyed predicted gains for Hyundai, down from 63 in 2012. Toyota also has a surprising year, but for just the opposite reason. While the manufacturer had slipped in ranking since 2011, it enjoyed the largest increase of any company in the 2013 survey, jumping to 68 percent from 44 percent last year.