Fiat Chrysler announces record sales
Fiat Chrysler Automobiles (FCA) Canada today reported a total of 27,776 vehicles sold in June, 2016, representing a two percent increase compared with June 2015 sales of 27,217.
Through the first six months of this year, FCA Canada has sold 152,439 vehicles, representing the best start to any year on record and maintaining FCA Canada’s position as the top-selling automaker in the country.
“At the mid-year point, FCA Canada is on pace for another record-setting sales year,” said Dave Buckingham, Chief Operating Officer, FCA Canada. “Ram Truck and Dodge Grand Caravan are among the top five best-selling vehicles in Canada, providing Canadians the functionality and value that they're looking for.”
The Jeep brand posted a monthly sales record in June, with 7,693 units sold, an increase of 11 per cent compared with 6,931 sold in June 2015. Jeep Cherokee led the way, establishing a new June sales record with 2,810 units sold, marking an increase of 19 per cent over 2,361 sold in June 2015.
Earlier this year, the new 2016 Jeep Cherokee Overland was announced. A more premium trim level, it expands the mid-size SUV’s lineup to deliver consumers a new level of luxury, sophisticated styling, a well-appointed interior, a long list of premium standard features and legendary Jeep capability. Cherokee Overland is available now.
The Dodge Challenger, built in Canada at the Brampton Assembly Plant, set an all-time monthly sales record in June with 374 sold, an increase of 15 per cent as compared with 326 sold in the same month, one year ago. For a third consecutive year and the fourth time in six years, Dodge Challenger ranked at the top of the Midsize Sporty Car segment in J. D. Power’s 2016 U.S. Initial Quality Study (IQS). IQS is based on responses from more than 80,000 purchasers and lessees of new 2016 model-year vehicles surveyed after 90 days of ownership. The study asks customers to identify issues with their vehicles’ design, as well as defects.
Dodge Grand Caravan – Canada’s number-one selling minivan – also set a June sales record. A total of 6,165 units were sold, up from 4,323 in June 2015. Dodge Grand Caravan is built alongside the all-new Chrysler Pacifica at the Windsor Assembly Plant. Chrysler Town & Country ranked highest among minivans in the IQS study, with Dodge Grand Caravan taking second place in the segment.
The Ram pickup truck reported 8,601 sales last month, marking an increase of 1 per cent over 8,526 units sold in June 2015. These results represent a monthly sales record for Ram Pickup.
Earlier this month, Ram Truck and Mopar announced the introduction of the Mopar ’16 Ram Rebel, the most recent limited-edition vehicle created using a unique selection of performance parts and accessories. The Mopar ’ 16 Ram Rebel will feature a limited production of just 100 vehicles for the Canadian market. Upgrades include 17-inch satin black wheels, black front bumper and skid plate, wheel flares, serialized badge, special Mopar graphics and more.
Read the June 2016 issue of Business Review USA & Canada magazine
Six issues at the top of tax and finance leaders’ agenda
New Deloitte research reveals that tax leaders are under increasing pressure to add strategic value as companies accelerate business model transformation, from undergoing digital transformations to rethinking their supply chains or investing in green initiatives.
According to Phil Mills, Deloitte Global Tax & Legal Leader, to “truly deliver value to the business, the tax function needs to rethink its resourcing model and transform its technology infrastructure to create capacity and control costs”.
And the good news, according to Mills, is that tax and business leaders have more options at their disposal to achieve this.
Reflecting the insights of global tax and finance executives at global companies, Deloitte’s Tax Operations in Focus study reveals the six issues at the top of tax and finance leaders’ agenda.
Trend 1: Businesses seek more strategic counsel from tax
Companies are being pushed to develop new digital products and distribution channels and accelerate sustainable transformation and this is taking them into uncharted tax territory. Tax leaders say their teams must have the resources and skills to give deeper advisory support on digital business models (65%), supply chain restructuring (49%) and sustainability (48%) over the next two years. This means redrawing the boundaries of what tax professionals focus on, and accelerating adoption of advanced technologies and lower-cost resourcing models to meet compliance requirements and free up time.
According to Joanne Walker, Group Tax Director, BT Group PLC, "There’s still a heavy compliance load today, but the vision for the future would be that much of that falls away, and tax people become subject matter experts who help program the machine, ensure quality control, and redirect their time to advisory activity.”
Trend 2: Tipping point for resourcing models
Business partnering demands in the tax department are on the rise, but 93% of tax leaders say their department’s budget is remaining flat or falling. To ensure that the tax function can redefine itself as a strategic function at the pace that is required, leaders are choosing to move increasing amounts of compliance and reporting to a combination of shared service centers, finance departments, and outsourcing providers that have invested in best-in-class technology.
Trend 3: Digital tax administration is moving faster than expected
in addition to the rising focus of the corporate tax department partnering with their business counterparts, transformative changes to the way companies share tax information with revenue authorities is also creating an imperative to modernize operations at a faster pace. Nine in 10 (92%) respondents say that shifting revenue authority demands on digital tax administration will have a moderate or high impact on tax operations and resources over the next five years—and several heads of tax said the trend is moving faster than expected.
"It’s really stepped up in the last couple of years," says Anna Elphick, VP Tax, Unilever. "Tax authorities don't just want a faster turnaround for compliance but access into a company’s systems. It's not unreasonable to think that in a much shorter time than we expect, compliance will be about companies reviewing a return that's been drafted by the tax authorities."
Trend 4: Data simplification and lower-cost resourcing are top priorities
Tax leaders said that simplifying data management (53%) and moving to lower-cost resourcing models (51%) must be prioritized if tax is to become more proactive at delivering strategic insights to the business. Many tax teams are ensuring that they have a seat at the table as ERP systems are overhauled, which is paying dividends: 56% of those that have introduced NextGen ERP systems are now highly effective at supporting the business with scenario-modeling insights. Only 35% of those with moderate to low use of NextGen ERP systems said the same.
At Stryker, “we automated the source P&L process for transfer pricing which took a huge burden off of the divisions," says David Furgason, Vice President Tax. "Then we created a transfer price database to deposit and retrieve data so we have limited impact on the divisions. We are moving to a single ERP platform which will help us make take the next step with robotics.”
Trend 5: Skillsets are shifting
Embedding a new data infrastructure and redesigning processes are critical for the future tax vision. Tax leaders are aligned — data skills (45%) and technology process experience (43%) are ‘must have’ skills in a tax department of the future, but more traditional tax specialist knowledge also remains key (40%). The trick to success will be in tax leaders facilitating the way these professionals, with their different backgrounds, can work together collectively to unlock lasting value.
Take Infineon Technologies, which formed a VAT technology and governance group "that has the right knowledge about how to change the system to ensure it generates the right reports", according to Matthias Schubert, Global Head of Tax. "Involving them early was key as we took a greenfield approach, so we could think about what the optimal processes would look like and how more intelligent systems could make an impact
Trend 6: 2020 brought productivity improvements
Improved productivity (50%) and accelerating shifts to remote working (48%) were cited as the biggest operational benefits to emerge from COVID-19-driven disruption. But, as 78% of leaders now plan to embed either hybrid or fully remote models in the tax function long term, 34% say maintaining productivity benefits is a top concern. And, as leaders think about building their talent pipeline and strengthening advisory skill sets, 47% say they must prioritize new approaches to talent recognition and career development over the next two years, while 36% say new processes for involving tax in business strategy decisions must be established.