By Alysha Webb, Editor and Publisher
Today, I was confronted with what initially seemed to be the past — or at least the present — of the auto industry, and its future. While watching and listening to a webcast of a press conference in Huntsville, AL announcing its selection as the site of a future vehicle production plant for Mazda and Toyota, I was simultaneously reading an article online about Ford CEO Jim Hackett’s recent CES speech.
In it, he laid out Ford’s vision of a “City of Tomorrow” where the cars are autonomous, and they work with a city’s transportation infrastructure to adapt to the vehicle’s needs.
Meanwhile, Toyota and Mazda are investing $1.6 billion to build a plant with a 300,000-unit annual capacity to produce what initially at least will be your standard car – Toyota Corollas and Mazda cross-overs.
But the two automakers have also said they will work together on electric vehicles, connected car technologies, and other futuristic technologies. And, the Huntsville mayor in his speech said the auto industry has become “an industry about mobility,” and that the plant, dubbed “Project New World,” will play a role in the evolution of the industry. Just a few more signs that the auto industry is changing, and faster than some might wish.
Perhaps it will be comforting, then, that this week’s issue looks at two familiar and traditional topics. A few weeks ago, I wrote a general piece on the impact of the new tax law on dealerships. This week we take a deep dive into the implications of the new tax law in a piece from CliftonLarsonAllen LLP.
It’s a bit longer than our usual offerings, but is structured as answers to a series of questions dealers may have about the new tax law. If you don’t have time to read it all, scroll through and read the answers to the questions you are most interested in.
Also this week, Oren Tasini returns to our site with a look at what questions you should be asking during the due diligence phase of a buy sell to avoid getting saddled with unwanted liabilities. For example, many dealerships offer perks such as oil changes for life. Make sure you ask the seller to quantify any dollar amount of the future costs of such promises.
We also have, natch, Transaction News.