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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.

Illinois’ pro-union stance kills bid for Toyota-Mazda plant, report says

Mazda and Toyota are fielding bids from states eager to land its new prize: an all-new $1.6 billion U.S. plant where the Japanese automakers would jointly build electric vehicles and employ around 4,000 workers. Now we can apparently scratch Illinois off the list of contenders. According to Automotive News, the Land of Lincoln has been disqualified due to a lack of shovel-ready sites and the state's lack of a right-to-work law curtailing union membership. Mark Peterson, the president and CEO of economic development agency Intersect Illinois, told the publication he's been informed Illinois is not among the three or four finalists for the facility. It's believed those finalists are all in the South. Peterson said that "many national site consultants charged with making recommendations for corporate relocations and expansions will not even consider a state that is not a right-to-work state. In this case, the three states I am told are still in the running are all right-to-work states." The Midwest may be the ancestral home of U.S. automotive manufacturing, but the South has made major inroads in recent decades, with the likes of Honda, Mercedes-Benz, Nissan and Toyota all opening plants there, among others, thanks to lucrative tax incentives and the absence of labor unions. Recent years have also seen so-called right-to-work laws, which prohibit union dues and membership as a condition of employment in organized workplaces, spread to traditional labor strongholds such as Michigan and Wisconsin. The new joint venture plant, which would start operating in 2021, would be capable of producing 300,000 vehicles a year, with production divided between the two automakers. Mazda and Toyota would also take small stakes in one another as part of the deal. It's expected that at least 15 states have submitted proposals to attract the plant. Expect the Illinois news to trigger a new round of debate over the role of organized labor in the modern economy.Related Video: Image Credit: Reuters Green Plants/Manufacturing Mazda Toyota

Renault Scenic EV takes first place as (European) Car of the Year

The automobile awards season may not be over, but two of the more prestigious annual races came closer to a climax this week. One might need a scorecard to keep track. We’re focused here on two events: the World Car of 2024, now reduced to three finalists in six categories. Then thereÂ’s the Car of the Year, known in some quarters as the European Car of the Year. Except that the car doesnÂ’t have to be European to win, only sold there. Got that? Winners out of the way first: At the Geneva Motor Show on Monday, the Renault Scenic E-Tech all-electric has been voted Car of the Year 2024. The Scenic is a fairly compact, somewhat stylish SUV for Europe only, and is the seventh vehicle from the French brand to win the award. It sells in the United Kingdom for about $47,500. The other six finalists that had made the first cut of voting in November were the BMW 5 Series, BYD Seal, Kia EV9, Peugeot E-3008/3008, Toyota C-HR, and Volvo EX30. The trophy winner was chosen by a jury of 59 motoring journalists from 22 countries. Scenic came in first place with 329 points. The Seal was the first Chinese-made car to make this awardÂ’s shortlist; it finished sixth out of seven, just up from the Toyota. One judge explained his decision to grant the Seal zero votes. Writing in Top Gear, Paul Horrell wrote this entertaining critique: “It looks good and is well specified, so makes a strong market entry. The advanced electric system and cobalt-free battery are commendable too, and it's enjoyable enough to drive quickly. That's undermined by an agitated ride over bumps, and the logic of screens and switches is pretty eccentric.” Recapping the World Car of the Year 2024 update, the sponsors shared the stage at Geneva on Monday with the Europeans as well, although they revealed only the top three finalists in six categories. For the ultimate prize, they are the Kia EV9, the Volvo EX30 and the BYD Seal. The winners will be announced March 27 at the New York International Auto Show. Here's more on the World Car finalists. By the Numbers Geneva Motor Show New York Auto Show BMW Kia Toyota Volvo Peugeot Renault Green Automakers Best Cars