It’s the first Automotive Week in Review of 2014, and we couldn’t be more excited about the coming year.
The American market soared in 2013, with even higher expectations for 2014. Find out what regulations might be in store for the industry, and how an expensive sports car helped set a new record on The Price is Right.
This Week’s Top Stories
2013 Sales Soar just Under 16 million: While the final numbers have not yet been tallied, sales of new cars and trucks are expected to reach 15.6 to 15.8 million units, a large gain from 2012’s 14.5 million and the best year since 2007. Industry analysts are already projecting 2014 sales to surpass the coveted 16 million mark.
Camera Rule in Sight: After months of delays, the Obama administration is reviewing a rule that could push a mandate for backup cameras on more new vehicles. The revision, which was sent by the NHTSA to the White House on Dec. 25th, would set new rear visibility standards for light vehicles sold in the U.S. that could also include rear-view mirror changes.
R8 Spyder sets Price is Right Record: A contestant on the Price is Right won an Audi R8 Spyder worth $157,300, setting a new record for the single most expensive item even won in the show’s history, which dates back to 1956. While the car is pretty expensive, the winner’s reaction is priceless.
U.S. Exports hit Record High: Americans aren’t the only ones who want high-quality vehicle from automakers like Buick and Jeep, as 2013 American exports has surpassed 2 million in 2013 according to the Detroit News. While a 49% of all American exports head to Mexico and Canada, 1 in 9 find themselves on the streets of China, where exports are expected to go upward.
New Non-Executive Chairman for GM: Tim Solso, a former CEO for Cummins Inc., has been named the first non-executive chairman for General Motors in 20 years. A non-executive chairman is typically responsible for providing leadership and advice to company executives and promoting effective communication during board meetings.
FIAT Purchases Rest of Chrysler: Fiat, the owner of the Chrysler Group, has agreed to by the United Auto Workers’ remaining 41% stock in Chrysler. The agreement will avoid a public stock offering and will allow Fiat/Chrysler CEO Sergio Marchionne to finally merge the two automakers.
Kia Releases Teaser Image of Concept Sports Car: Kia Motors announced last week that they would unveil a concept sports car at the 2014 Detroit auto show. Now Kia has given a teaser image of the GT4 Stinger, with mechanical information including a turbocharged 2.0L and 20-inch wheels. Stay tuned to this blog for more information on the 2014 North American Auto Show, which officially begins January 13th in Detroit. Take a look at the image here
You don’t have to drive to Detroit for an auto show when you can stop by one of our six locations throughout the Iowa City and Cedar Rapids.