Industry News: When the Detroit Three Met With President Trump

[William Maley]

The CEOs of Detroit's three automakers met with President Donald Trump this morning to talk about investments. Specifically, investments into U.S. manufacturing. 

"We have a very big push on to have auto plants and other plants -- many other plants," Trump told reporters at the meeting. “We’re going to make the process much more simple for the oil companies and everybody else that wants to do business in the United States.”

During the meeting, Trump told the CEOs that he plans on cutting corporate tax rates to 15-20 percent, and reduce regulations by 75 percent.

“We think we can cut regulations by 75 percent. Maybe more. When you want to expand your plant, or when Mark wants to come in and build a big massive plant, or when Dell wants to come in and do something monstrous and special -- you’re going to have your approvals really fast,” said Trump. 

One regulation that is likely going to be shown the door are the EPA's 2025 fuel economy regulations which were set in stone during the final days of President Obama's tenure. Automakers have been asking President Trump to rethink the aggressive mandates set by the agency.

“I am, to a large extent, an environmentalist. I believe in it. But, it’s out of control,” said Trump.

After the meeting, Ford CEO Mark Fields seemed the most upbeat when speaking to reporters.

 "As an industry we're excited about working together with the president," said Fields.

GM CEO Mary Barra said she sees a “huge opportunity” with working with the president to “improve the environment, improve safety and improve job creation.” FCA CEO Sergio Marchionne was less enthused than the other two, stating the meeting was a positive one.

Source: Automotive News (Subscription Required), Detroit Free Press

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[David]

First Sergio is a CHUMP and an IDIOT!

Second, Ford is way too happy and ignoring the fact that 2025 is not going to really change and the latest just published on CARBS own web site for what they want by 2030 will make repealing the EPA 2025 mandates hard.

https://www.arb.ca.gov/newsrel/newsrelease.php?id=891

Mary seems to take the best tone of working with the POTUS. I think she knows that rolling back CAFE is not really going to happen.

Interesting times we live in.

[daves87rs]

Not sure how big the cuts will be...

 

The regs don't need to go away, just slow down some.....

[hyperv6]

Well we have to take this all into context.

#1 the MFG's are not going to make the 2025 numbers. Yes they will continue to improve but the numbers were never realistic. The growth of the EV is much slower than anticipated and it will not be there to prop up the numbers enough.

#2 The MFG also are in a global market so even if there are roll backs it may be for CAFE at best as they still have to meet other global regulations that are out there as well as California and the states that share the CARB numbers.

#3 At least for once in along time the Automakers have someone that is actually willing to work with them and not someone dictating to them  what they will and will not do with any consideration to the business side of the deal.

This is how things should work where companies and government should come together and talk. They should work together in the best interest of the country and not drive agenda to where it become a burden on the economy. This has been what has been missing. No not every one will be happy as some will not get their ways all the time but you are going to have that. But in the end we will still improve the environment, we will improve the economy and we will improve the country for all.

There is room for both sides here as you can grow an economy with out killing it with extreme regulations.

As for the threats of taxes for imports and such. Trumps way to deal is make a big threat and work your way to a deal in the middle. The mans history is all about making deals and getting the best compromise for each side. It is his passion and drive to do deals. That is what we will see here. In the end everyone will own part of the solution and in the end everyone will feel like they won and the economy will be better off for it.

This is no different than bartering at a flea market.

[hyperv6]

12 hours ago, dfelt said:

First Sergio is a CHUMP and an IDIOT!

Second, Ford is way too happy and ignoring the fact that 2025 is not going to really change and the latest just published on CARBS own web site for what they want by 2030 will make repealing the EPA 2025 mandates.

https://www.arb.ca.gov/newsrel/newsrelease.php?id=891

Mary seems to take the best tone of working with the POTUS. I think she knows that rolling back CAFE is not really going to happen.

Interesting times we live in.

Yes he is and I can think of some other things to call him.

As for Mary and the others. They are not expecting a total roll back. All they are asking for is more time as they just do not have the technology to meet the numbers in 2025 yet and still have products people will want or can afford.

All Auto MFG will love a bit of additional time and for the slow growth EV market to improve in sales and technology along with lower pricing.

EV is key as if they can grow this with better products acceptable to more people and better technology this will help off set the other cars. But we are not there nor will we will be there unless there is some big breakthrough.

I am still trying to turn water into wine I saw it done once.

[FAPTurbo]

cutting 75% of regulations = under-paid, overworked autoworkers will shower with bottled water while their neighbours will barely be able to afford new cars without signing convoluted predatory bank-friendly leases.

[David]

17 minutes ago, FAPTurbo said:

cutting 75% of regulations = under-paid, overworked autoworkers will shower with bottled water while their neighbours will barely be able to afford new cars without signing convoluted predatory bank-friendly leases.

Fap, I found your sole mate!

 

[Suaviloquent]

OH.....DAMN THAT'S JUST, HAH, JUST DFELT, WTF, WHERE DID YOU FIND THAT?

 

THAT'S LIKE TWO WEEKS OF FUNNY YOU JUST MADE RIGHT THERE.