Mike Stanton, CEO of the National Automobile Dealers Association, says Volkswagen is cutting costs everywhere but where it matters. The U.S. and Canada have a tentative trade deal. Plus, Volvo reshuffles its leadership.

Aug. 20, 2026 | NADA CEO: VW needs to rethink priorities; tentative trade deal with Canada

Automotive News Daily Drive

Selling more cars starts with reaching shoppers who are ready to take the next step. That's why dealers turn to AutoTrader, where leads deliver a 69% higher close rate. Visit Dealdoers.com to learn more. Welcome to Daily Drive for Thursday, August 20, 2026. I'm Kellen Walker in Las Vegas. Today on the show, the U.S. and Canada say they've reached a trade deal on autos.

Volvo is shaking up its dealership and flattening its management structure at the same time. And a once fast-growing dealer group is now insolvent. Plus, NADA CEO Mike Stanton joins the show to say Volkswagen is cutting costs to everywhere, except where it actually counts. Dealers have carried that brand, and now that brand is turning their backs on their customers. I don't get it.

Let's run through all the news you need to know to keep up in the auto industry. Canada and the United States have reached a tentative trade deal, promising major relief for automakers after an 18-month tariff war. The agreement would lower U.S. tariffs on Canadian-made vehicles from 25% and eliminate Canada's counter-tariffs on American vehicles.

Bloomberg reports the deal would bring the headline rate on Canadian vehicles down to 15% before parts content exemptions kick in. But the two sides are still finalizing the agreement, and Canada U.S. Trade Minister Dominic LeBlanc's office has declined to comment. More on this story in a minute. Volvo Cars is reshuffling its executive ranks and streamlining its leadership structure at the same time.

Effective September 1st, Alexander Petrovsky becomes the automaker's new chief technology officer. He succeeds Anders Bell, who moves on to lead a startup initiative aimed at licensing Volvo's platform and digital technology to third parties. Magnus Nielsen steps up as chief manufacturing officer.

Aug. 20, 2026 | NADA CEO: VW needs to rethink priorities; tentative trade deal with Canada

Read the full transcript

The candid version is on a podcast,
not the earnings call.

Aug. 20, 2026 | NADA CEO: VW needs to rethink priorities; tentative trade deal with Canada

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.