(CANADA) U.S. & Canada to Propose Ban on Chinese and Russian Tech in Connected Vehicles Over Cybersecurity Concerns
The U.S. Commerce Department is set to propose new rules banning Chinese and Russian hardware and software in connected vehicles, driven by concerns over cybersecurity and the potential for foreign tracking or hacking. The restrictions, stemming from a Biden administration investigation, would target technologies used in automated driving systems and vehicle communication, potentially preventing Chinese automakers from selling in the U.S. if their vehicles use this technology. While focused primarily on software, some hardware will also be affected. The initiative seeks to protect U.S. drivers' data and prevent foreign control over connected car technologies. The final rules are expected by January 2025, following a comment period, and Canada is implementing similar measures. The move also aims to give the U.S. auto industry time to build its own supply chain for connected vehicles.
Wholesale Used-Vehicle Prices Decline in Early September Amid Lower Depreciation and Improving Consumer Sentiment
Wholesale used-vehicle prices declined by 0.2% in the first half of September, with the Manheim Used Vehicle Value Index dropping to 203.6, down 5% year-over-year. Non-seasonally adjusted prices rose slightly by 0.2% from August but remained 4.6% lower than last year. Despite a typical cooling after Labor Day, depreciation trends in the wholesale market have been lower than usual. Segment-wise, pickups saw the largest year-over-year decline at 7.5%, while compact cars increased by 2.4% compared to August. Electric vehicles dropped 6.8% from 2023, though they rose 1.1% from August. Wholesale supply in mid-September rose to 26 days, and consumer sentiment improved, reaching its highest level since May. Gas prices dropped 3.8% month-to-date, with further declines anticipated.
Benchmarking Key to Improving Fleet Safety: Insights from NETS Annual Report
Fleet benchmarking is crucial for managing and improving fleet safety programs, as it allows companies to measure their performance against internal metrics or industry peers. The Network of Employers for Traffic Safety (NETS) conducts an annual benchmark among its members, comparing crash, injury, and fatality rates, as well as fleet involvement in crashes. The report enables comparisons by fleet size, sector, vehicle type, or country and offers longitudinal insights on how program changes impact fleet safety. Key findings show that companies with safety features like electronic stability control and fatigue management programs see lower crash rates. In 2022, only 7.02% of NETS members' fleet vehicles were involved in crashes, significantly below the industry average of 20%. The results will be discussed at NETS' Annual Fleet Safety Benchmark Conference in Atlanta, where Fleet Safety Awards will also be presented.