Welcome to the Dec. 9 edition of the Daily 5.
With a new administration taking office Jan. 20, the news is full of headlines about trade with China. While Volvo CEO Jim Rowan has the Swedish automaker on pace to have record global sales for the second straight year, much of the success is largely because of the EX30′s strong debut. And where is the electric crossover built? You guessed it: China. Volvo will start selling Belgium-made versions of the EX30 next year, but it will take until mid-2025 until production — also earmarked for the U.S. — is up to speed. Rowan discussed all that and more with Automotive News Europe Managing Editor Douglas A. Bolduc.
Speaking of China, retail sales of new passenger vehicles including sedans, crossovers, SUVs and multipurpose vehicles were up 17 percent to more than 2.4 million in November, the China Passenger Car Association said. China's new-car market has now grown for three straight months, largely behind a government vehicle scrappage program. Consumers qualify for a 20,000 yuan ($2,750) subsidy if they trade in old fuel-powered vehicles for new electrified models, or a 15,000 yuan ($2,065) subsidy if they scrap old fuel vehicles for fuel-efficient new fuel models.
Hyundai Motor America is restructuring its sales management, consolidating the two top sales positions. The automaker promoted Michael Orange to vice president of Hyundai national sales, effective immediately. Orange will oversee Hyundai Motor America's national sales team and its seven U.S. regions. The move follows the announcement of Jose Muñoz's appointment to CEO of Hyundai Motor Co., beginning at the start of the new year. It's expected Hyundai will make more executive appointments heading into next year.
In other news, Omnicom Group has agreed to acquire Interpublic Group of Cos., the companies confirmed today, in a deal that creates the world's largest agency group. Omnicom's automotive clients include Volkswagen and BMW. The combo will have more than 100,000 employees.
And finally, in case you missed the news earlier in the day, Tim Kuniskis, who retired from Stellantis in June, has returned to the automaker to lead the Ram truck brand. The move is part of a series of changes the automaker is making to its leadership structure in North America after the resignation of CEO Carlos Tavares.
That's it for today. Have a great rest of your day.
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— Wes Raynal, assistant web editor
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