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Thursday Morning Auto News, Oct 10, 2019
Nissan says European operations unsustainable with no-deal Brexit tariffs – Reuters: Nissan’s European operations, which include plants in Britain and Spain, will not be sustainable if Britain’s departure from the European Union leads to 10% tariffs on vehicles, the firm’s European Chairman Gianluca de Ficchy told reporters on Thursday.
Indicted FCA manager circulated press release about prior diesel emissions settlement – Freep: Experts say Fiat Chrysler could face more trouble because of emails that were shared among those connected to diesel emissions cheating.
BYD NEV sales volume up 34 pct in Jan-Sept – Xinhua | English.news.cn – Xinhuanet: BYD NEV sales volume up 34 pct in Jan-Sept
GM Factory Hands Making 40% Less Than Their Co-Workers Are Fed Up – Bloomberg: GM Factory Hands Making 40% Less Than Their Co-Workers Are Fed Up
Nissan to start building new Juke car at UK plant as Brexit looms – Reuters: Nissan said it will begin making the next-generation Juke vehicle at Britain’s biggest car plant on Monday, just over two weeks before a possible no-deal Brexit which the industry has warned could bring production to a halt.
BMW bets on doubling of luxury car sales to boost margins – Reuters: To lower development costs for electric and driverless cars, BMW will pursue alliances, such as a plan to make a low-cost electric car with Chinese …
BMW to Boost Sales of Gas-Guzzling SUVs to Cover Electric Shift – Bloomberg: BMW to Boost Sales of Gas-Guzzling SUVs to Cover Electric Shift
GM’s Q3 China sales slip 18% – Automotive News: The drop marks the fifth straight quarterly decline for GM in China as U.S. automakers continue to lose market share while Japanese and German automakers gain ground in the largest light-vehicle market.
Uber’s UK VAT liability confirmed – FT: Earlier this week Uber London Ltd filed its full accounts up until December 2018 at Companies House. The big news wasn’t that the division made a …
NASA boss to tour SpaceX factory after feud over capsule delays – Reuters: SpaceX Chief Executive Elon Musk opened up his private rocket factory to the top official of NASA on Thursday for a tour and progress report on the company’s long-delayed Crew Dragon astronaut capsule.
Nissan cuts role of former Ghosn aide – Nikkei:
Italdesign names Audi veteran as design chief – Automotive News: Italdesign has appointed veteran Audi executive Carsten Monnerjan as head of design. Monnerjan succeeds Filippo Perini who joined Hyundai’s …
Volvo embeds Android on its new EV – Automotive News: Volvo embeds Android on its new EV
GM’s Q3 China vehicle sales down 17.5%, as U.S. automakers cede ground – Reuters: General Motors Co’s July to September vehicle sales in China fell 17.5%, as the U.S. automaker was hurt by a slowing economy amid the Sino-U.S. trade war and by heightened competition in its key mid-priced SUV segment.
The Radical Manifesto Embraced by Google Workers and Uber Drivers – New York Times: Just before 20,000 Google employees left their desks last fall to protest the company’s handling of sexual harassment, a debate broke out among the …
Automakers, suppliers, tech companies form AV computing consortium – Automotive News: GM has invested heavily in autonomous vehicle development, especially through its Cruise unit. Toyota has also started to form alliances for …
Strengthening Renault-Nissan alliance is crucial: French minister – Reuters: Strengthening the alliance between car makers Renault and Nissan is crucial, said French junior economy minister Agnes Pannier-Runacher on Thursday, amid signs of a possible management shake-up at Renault.
Nissan Plans Shareholders’ Meeting to Vote In New Top Management – Bloomberg: Nissan Motor Co. is considering holding an extraordinary shareholders’ meeting early next year following the recent adoption of a new management …
New Volkswagen Golf design shown in official sketches – Autocar: Volkswagen Golf Mk8 sketch Eighth iteration of popular hatchback will be unveiled later
Champagne! Fur! Caviar! How St. Moritz’s Snow Polo Lures the Jet Set – Bloomberg: Photographers hoping to score a celebrity shot mill around on the edge of the runway, where a vintage Rolls-Royce and a racing-green Porsche …
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Friday Morning Auto News, Oct 11, 2019
Porsche and Boeing partner on electric flying vehicle – Automotive News: Porsche wants to expand into the “third dimension of travel” by developing a flying vehicle capable of transporting people in congested cities.
Renault CEO ouster marks fresh start from Ghosn era – Automotive News: It took just three days to topple Renault CEO Thierry Bollore, giving the automaker and its estranged partner, Nissan, a clean sheet to ponder how to revive trust in their alliance and redistribute the balance of power.
Renault board wields the CEO axe – the week – Just-Auto: News Renault has dismissed Thierry Bollore as CEO with immediate effect, ending a week of intense speculation concerning the future of the automaker’s top management, is likely to draw a lot of eyeballs to just-auto from about now.
Hydrogen is still a mystery to drivers, but Toyota plans 10 times more cars – LATimes: Hydrogen is still a mystery to drivers, but Toyota plans 10 times more cars Los Angeles Times
Lengthy UAW strike at GM to cost $1.5 billion: Credit Suisse – Reuters: Lengthy UAW strike at GM to cost $1.5 billion: Credit Suisse
Ford’s Q3 China vehicle sales down 30% – Automotive News: Third-quarter sales of the automaker’s mass-market Ford brand fell 38 percent in China, while its luxury division Lincoln saw sales drop by 24 percent.
Renault ousts CEO in post Ghosn-era reset – Reuters: Renault ousts CEO in post Ghosn-era reset Reuters Canada
They Say He Lost $320 Million on Bad Oil Trades. He Says Documents Show Otherwise – Bloomberg: The Chinese oil trader fired by Mitsubishi Corp. for allegedly losing $320 million in unauthorized trading said company documents that detail how the …
China’s Trade Chief Returns to Trump’s Oval Stage With Eyes on Deal – Bloomberg: Car warning | Nissan issued its starkest warning yet against a no-deal Brexit, saying any tariffs on auto exports to the European Union are likely to render its U.K. … Trade war fallout | Japan’s economy is losing momentum as 2020 … balance for September; Oct. 15: U.S. to raise tariffs on Chinese imports …
Business Is Thrilling Again. Enjoy the Spectacle, From a Distance. – New York Times: “Super Pumped,” the new book about Uber, the ride hailing giant, written by my colleague Mike Isaac, has become one of my favorites. He described …
Uber faces UK tax challenge – Reuters: Uber Technologies Inc says the UK is seeking to classify the company as a transportation provider, potentially opening it up to new tax charges that could weigh heavily on its business, according to UK accounts filings in recent days.
Nissan’s new CEO is no Ghosn, but that’s the point – Automotive News: Nissan’s new CEO is no Ghosn, but that’s the point
Uber launches boat service in Nigeria’s megacity Lagos – Reuters: Global ride-hailing firm Uber Technologies Inc [UBER.UL] on Friday launched a pilot test of a boat service in Nigeria’s commercial capital Lagos to attract commuters seeking to avoid the megacity’s notoriously congested roads.
SpaceX needs to put people into space. NASA’s deadline is looming – LATimes: Two weeks ago, the head of NASA seemed sick of waiting for SpaceX and Boeing Co. to finish developing the capsules that are supposed to carry …
Porsche and Boeing to develop flying car concept – Autocar: Porsche and Boeing have released this image of a flying car Two firms will explore the viabilit…
Future cars: Toyota doubles down, Dyson gives up – Reuters: Different visions of future mobility: Toyota doubles down on hydrogen fuel cell vehicles, but James Dyson pulls the plug on plans for an electric car.
Factbox: Renault’s new top executive committee – Reuters: Below are some facts on some of the new top executives appointed at Renault on Friday.
Hyundai invests in US road mapping company Netradyne – Just-Auto: Hyundai Cradle, which Hyundai Motor Group describes as its corporate venturing and open innovation business, in early October said it was investing in US fleet safety management software company Netradyne to gain access to the firm’s more than 350m miles of detailed road mapping data.
Hyundai, Kia earmark $760 million to settle U.S. lawsuits over engine fires – Reuters: Hyundai Motor Co and affiliate Kia Motors Corp have earmarked a total of 900 billion won ($757.86 million) to settle U.S. class action litigation and address engine-related issues in the United States and South Korea.
Geely’s September sales show a silver lining to some – Nikkei: Among Geely’s rivals, Guangzhou Automobile Group has reported a 3% fall in sales for the first eight months of 2019 while those for Dongfeng Motor …
Renault names Delbos as interim CEO to replace Bollore – Reuters: French carmaker Renault on Friday named Clotilde Delbos at interim chief executive after ending the tenure of Thierry Bollore following a boardroom vote.
Toyota LQ concept is self-driving electric hatchback – Autocar: Toyota LQ concept is self-driving electric hatchback
Hyundai Motor, Kia Motors agree to settle U.S. engine defect lawsuits – Reuters: South Korea’s Hyundai Motor Co and affiliate Kia Motors Corp on Friday said they have agreed to resolve class action litigation with U.S. owners of certain vehicles over engine fire risks.
Toyota RAV4 Plug-in hybrid set for LA show debut – Autocar: New version of fifth-generation SUV will offer expanded battery size, range and power Toyota will…
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Wednesday Morning Auto News, Oct 09, 2019
Volkswagen increases stockpiles of cars in Britain ahead of Brexit – Reuters: Volkswagen increases stockpiles of cars in Britain ahead of Brexit
Renault May Follow Nissan With New CEO to Move Past Ghosn Era – Bloomberg: Renault May Follow Nissan With New CEO to Move Past Ghosn Era
Waymo is mapping L.A. in hopes of someday introducing driverless taxis – LATimes: Waymo is mapping L.A. in hopes of someday introducing driverless taxis
Nissan Demotes Former Ghosn Aide Hari Nada – Wall Street Journal: TOKYO- Nissan Motor Co. said it demoted a former Carlos Ghosn aide, Hari Nada, after board directors questioned Mr. Nada’s continued role at the …
Tesla’s Autopilot Could Save the Lives of Millions, But It Will Kill Some People First – Bloomberg: Tesla”s Autopilot Could Save the Lives of Millions, But It Will Kill Some People First
Tesla’s cell supplier hires battery expert for key Gigafactory job – Automotive News: Celina Mikolajczak, who left Tesla in early 2018 for short stint at Uber Technologies Inc., joined Panasonic this month as vice president of battery technology and will be based in Reno, Nev.
Ford starts Puma build in Romania | Automotive Industry News | just-auto – Just-Auto: Ford starts Puma build in Romania
Renault CEO Bollore may be ousted, reports say – Automotive News: Renault Chairman Jean-Dominique Senard will ask the automaker’s board to look for a successor to CEO Thierry Bollore, Le Figaro said, citing unnamed sources.
The UAW officer leading talks with GM is from the assembly line and ready to fight – Freep: The UAW officer leading talks with GM is from the assembly line and ready to fight
Moving Uber and Lyft at SFO created chaos — at first. Can LAX avoid it? – LATimes: When officials at San Francisco International Airport moved Uber and Lyft pickups from the curbside to the top of a nearby parking garage, the new …
Specially-designed Toyota “Tokyo 2020 Version” e-Palette to provide automated mobility to Athletes – Just-Auto: Specially-designed Toyota “Tokyo 2020 Version” e-Palette to provide automated mobility to Athletes
Kodiak Robotics hires industry veteran from Lyft to lead hardware division – Just-Auto: Hoffacker was most recently the Director of Sense and Electronics at Lyft’s Level 5 Self-Driving Division. Prior to Level 5, where he was one of the …
Peugeot 208 falls short of maximum Euro NCAP score – Autocar: Peugeot 208 New supermini achieves ‘respectable’ four stars in safety tests, but loses marks fo…
Renault plans bigger electric car to rival Tesla and VW – Automotive News: Renault plans bigger electric car to rival Tesla and VW
Renault chairman in no hurry to rebalance alliance with Nissan – Nikkei:
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Tuesday Morning Auto News, Oct 08, 2019
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Monday Morning Auto News, Oct 07, 2019
Monday Morning Auto News, Oct 07, 2019
Volvo and Geely to Merge Engine Operations in Electric Car Push – Bloomberg: Volvo and Geely to Merge Engine Operations in Electric Car Push Bloomberg
VW in talks to share its electric know-how – The Detroit News: Ford agreed earlier this year to use VW”s main electric-car platform for a high-volume car in Europe
Volvo and Geely to merge combustion-engine programmes – Autocar: Volvo engine New engine division will focus on hybrid development, while Volvo will push resour…
Week 4: As UAW GM strike takes its toll, workers vow they’re more committed than ever – Freep: Sounds of gospel music filled what was once the gymnasium in the old Gundry School, now a church with deep connections to GM’s factory workers.
Move to close training center emerges in midst of GM-UAW contract talks – Freep: Key issues remain on the table between GM and the UAW and one of those is the training center embroiled in part of a federal corruption probe.
Harley struggles to fire up new generation of riders with electric bike debut – CNBC: The bike costs nearly as much as a Tesla Model 3, and aims for a market that does not really exist: young, “green” and affluent first-time motorcyclists.
Mercedes-Benz sales soar to record on back of boost from China – FT: Mercedes-Benz sales soar to record on back of boost from China
Swedish EV firm NEVS to sell final new Saab 9-3 this month – Autocar: An unused crash test model from 2013 will be auctioned to raise funds for sustainable mobility res…
1964 Olympic cauldron returns ‘home’ to Saitama Pref. after touring disaster-hit areas – Mainichi: … diameter and weighs approximately 4 metric tons, was created by local metal worker Mannosuke Suzuki and his son Bungo, both now deceased.
Volvo, Geely to merge combustion engine operations – Reuters: Volvo, Geely to merge combustion engine operations Reuters
New Aston Martin Vantage Roadster: first images released – Autocar: V8-powered drop-top will take on the Porsche 911 Cabriolet with over 500bhp and a price tag around…
Analysis: How China is fuelling Volkswagen’s electric dream – Autocar: Volkswagen”s global ID models will be joined by China-only variants Volkswagen”s ambitious EV p…
Jobless claims up around U.S. amid GM strike – The Detroit News: As 46,000 walk picket lines outside GM facilities in 19 states, thousands laid off because of the strike are waiting for a call to return to work.
When harm comes from safety tech, what to do? – Automotive News: More than 800 motorists have lodged complaints about false positive incidents on Nissan Rogues with automated emergency braking systems.
FCA chief cleans up the messes of a legend – Automotive News: When Mike Manley was thrust into the role of CEO of Fiat Chrysler Automobiles in 2018 as his predecessor, Sergio Marchionne, lay dying, the …
V2X might speed progress on the road to autonomy – Automotive News: At the time, only Tesla appeared to be working towards “fake human” driving, by which I mean, relying on cameras/visible spectrum and using artificial …
Peugeot to ditch GTi badge? – Autocar: Peugeot to ditch GTi badge? NZ Autocar
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Friday Morning Auto News, Jul 26, 2019
No-deal Brexit threatens UK car production, industry warns PM Johnson – Reuters: A no-deal Brexit is an existential threat to the British car industry and would risk output, a British car industry body warned new Prime Minister Boris Johnson on Friday.
After Nissan, a profit plunge at Renault too – Reuters: French automaker Renault cuts revenue goal after a weaker first half, a day after alliance partner Nissan announced big job cuts and earnings woes. Francis …
SpaceX successfully flies Mars prototype rocket for the first time – CNBC: SpaceX took a noticeable step forward in its development of a massive, next-generation means of space transportation.
Real-world benefits of car safety technology – Reuters: .comAutomakers are accelerating the rollout of technology designed to avoid crashes and improve road safety. Here’s a look at selected crash avoidance features, …
Renault CEO Bollore on Nissan Alliance, Collapsed Fiat Talks, Sales – Bloomberg: Renault SA Chief Executive Officer Thierry Bollore discusses the French automaker’s sales, its alliance with Nissan Motor Co., the collapsed talks with Fiat …
ABB Stock Dropped Because Auto Makers Aren’t Buying Enough Robots – Barrons: The stock dropped anyway, by about 2% in overseas trading, because the global automotive industry is weak. That isn’t a surprise. Automotive is the …
New auto safety technology leaves insurers in the dark – Reuters: Automakers are accelerating the rollout of technology designed to avoid crashes, but insurance companies are …
Editorial: Even car companies aren’t going along with Trump’s rollback of mileage and emissions standards – Latimes: President Trump is hellbent on rolling back the nation’s fight against climate change. But he’s increasingly going it alone. Even some of the companies whose …
Tesla Loses a Founder, and a Piece of Its Soul – Bloomberg: J.B. Straubel, the outgoing technology chief, says he’s taking a break before getting back to “building things.”
Wildcat Discovery, InoBat to build electric car battery line in Slovakia – Reuters: Slovak group InoBat and U.S. energy tech firm Wildcat Discovery Technologies will build a 100 million euro ($111 million) automotive battery production line in …
Woes at Maruti Suzuki underscore troubles in India’s car industry – FT: India’s largest carmaker, Maruti Suzuki, has recorded a 27.3 per cent drop in net profits in the April to June quarter, compared to the same period last …
Ford will ax Ka+ minicar in Europe – Automotive News: PSA Group’s Opel-Vauxhall unit has said it will drop its Karl and Adam minicars. PSA has also hinted that the Peugeot 108 and Citroen C1 might be …
Renault cuts revenue goal as car industry misery spreads – Reuters: Renault warned revenue may decline this year, scrapping a previous goal, after first-half profit was hit by weakening car demand and an earnings collapse at alliance partner Nissan in the wake of the Carlos Ghosn scandal.
Maruti Suzuki India June-quarter profit dives, but tops estimates – Reuters: IndiaMaruti Suzuki India Ltd on Friday posted a 27.3% plunge in its first-quarter net profit amid an industry-wide slowdown in demand, but beat market expectations.
Ford, BMW, VW, Honda reach compromise with California on emissions – Automotive News: The automakers reached an agreement on fuel efficiency rules with California, which accounts for 12 percent of U.S. vehicle sales.
China’s CATL to start battery storage business in Japan with Next Energy – Reuters: China’s electric vehicle battery maker Contemporary Amperex Technology Co Ltd (CATL) said it will start offering products to homes and plants in …
Renault cuts revenue goal after weaker first half – Reuters: Renault warned that revenue may decline this year, scrapping a previous goal, after first-half profit was hit by weakening car demand and an earnings collapse at alliance partner Nissan in the wake of the Carlos Ghosn scandal.
French carmaker Renault cuts 2019 revenue outlook – Reuters: French carmaker Renault on Friday cut its 2019 revenue outlook, on the back of falling demand and tough conditions within the automotive industry.
China will not set blanket winter output cuts for heavy industry – Reuters: China’s central government will not set overall output restrictions on heavy industry for the coming winter, but will direct local governments to set limits based on manufacturers’ emissions, the environment ministry said on Friday.
Renault Lowers Sales Outlook as Europe Auto Downturn Takes Hold – Bloomberg: Renault SA lowered its outlook for full-year sales as the French carmaker grapples with a downturn in the European car market and dismal results from partner …
As electric vehicle production ramps up worldwide, a supply crunch for battery materials is looming – CNBC: As car manufacturers ramp up production of electric cars, metals used to make the vehicles’ batteries may face a supply crunch, according to a new report.
China’s Pony.ai gallops up behind Google in driverless cars – Nikkei: China’s Pony.ai gallops up behind Google in driverless cars … China also maintains tighter restrictions on self-driving cars than the U.S., and there … a one-hour drive from the city center, and plans to expand the fleet to 100 this year.
Japan, US eyeing ministerial trade talks in Washington, DC on August 1 – Reuters: Japanese Economy Minister Toshimitsu Motegi is … and instead wants to prod the United States into cutting tariffs on auto parts.
SoftBank Forms $108 Billion Vision Fund 2 With Apple, Microsoft – Bloomberg: … two or three years to take advantage of opportunities to invest in cutting-edge technologies such as artificial intelligence and autonomous driving.
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Thursday Morning Auto News, Jul 25, 2019
‘Not a lot to like’ – Analysts pan Tesla as the shares are slammed on poor results – CNBC: “We continue to believe Tesla is fundamentally overvalued but strategically undervalued,” Morgan Stanley said. “Overall, we doubt this quarter will …
Tesla Tech Chief’s Exit Is Latest High-Profile Departure – Wall Street Journal: In January, Tesla surprised investors when it announced during another earnings … Mr. Straubel outlasted Martin Eberhard, another founder of Tesla.
Tata Motors posts wider quarterly loss on weak JLR sales – Nikkei:
Diesel Chevy Silverado 1500 pickup blows past Ford F-150, Ram in mpg – Freep: “Any consumer looking for a fuel-efficient, powerful option can find one in the diesel option of America’s favorite vehicle, the pickup truck,” Diesel …
Eight Months After Ghosn’s Exit, Nissan Remains Stuck in a Rut – Bloomberg: A weaker Nissan means less clout for the carmaker in its alliance with … Saddled by aging car models such as the Juke and Murano, Nissan sold 6% …
Four automakers, California strike compromise on vehicle emissions – Reuters: Ford Motor Co, BMW AG, Volkswagen AG (VOWG_p.DE) and Honda Motor Co said on Thursday they have reached a …
Stocks making the biggest moves premarket: 3M, Comcast, Raytheon, Southwest, Tesla & more – CNBC: Names on the move ahead of the open.
Jaguar Land Rover posts £395 million loss due to falling sales – Autocar: Jaguar Land Rover recorded a £395 million loss in the last three months, due to declining sales and the impact of a planned Brexit shutdown – but …
VW Q2 operating profit rises 30% as utility vehicle push pays off – Automotive News: VW expects vehicle deliveries in 2019 to exceed last year’s figure and for revenues in the passenger cars and commercial vehicles divisions to grow at least 5 percent.
ABB cautions on China as robotics sales flag – Reuters: ABB Ltd (ABBN. … Demand for cars in Europe is 3.1% down in the year to date while Mercedes maker Daimler this week also …
DiDi, Toyota to set up JV for smart fleet management – Xinhuanet: The two parties announced collaboration on the e-Palette, a self-driving modular store in January 2018, and have piloted vehicle-related services for …
Tata Motors first-quarter loss nearly doubles – Reuters: Tata Motors Ltd reported a bigger quarterly loss on Thursday, as a slump in demand for cars continued at home, while plant shutdowns and delays resulting from issues arising due to Britain’s planned exit from the European Union also hurt earnings.
Earnings tumble at automakers, but VW defies the gloom – Reuters: More evidence has emerged of tough times for the auto sector following weak numbers at Ford, Nissan and Tesla. But Volkswagen is defying the …
Alphabet’s Sales Under Microscope After Last Quarter’s Debacle – Bloomberg: … year and updates on progress in hardware and Other Bets, which includes its self-driving car unit Waymo, according to UBS analyst Eric Sheridan.
The Little Hybrid That Could, and Still Can – New York Times: When Honda introduced the first hybrid vehicle in America, the 2000 Insight, there was technological wonder, but few would call …
Aston Martin Bear Says It Needs to Raise a Billion Pounds to Catch Up With Ferrari – Bloomberg: The only analyst with a sell rating on Aston Martin Lagonda shares says the luxury carmaker will need to raise at least a billion pounds ($1.25 billion) in *fresh* …
Aston Martin fails to sell Vanquish’s tooling, design drawings – Automotive News: Aston Martin has written off 19 million pounds ($24 million) after the sale of the tooling and design drawings of the automaker’s Vanquish …
China exports gasoline to Mexico, Nigeria amid overflowing output – Reuters: … confidence as the trade war continues, reflected also in slumping car sales, said … Gasoline demand growth is also sliding as Chinese automobile sales, … (GRAPHIC: China’s auto sales in 12 months decline – tmsnrt.rs/2MlLS4b).
India’s auto parts makers warn of 1 million job cuts if slowdown continues – Reuters: India’s auto parts industry could be forced to slash a fifth of its 5 million or so workforce if the slowdown in vehicle sales …
Nissan will cut 12500 jobs as Q1 profit nearly wiped out – Automotive News: Nissan said it is axing 12,500 jobs after reporting its quarterly profit was nearly wiped out, hurt by an aging product lineup and a slide in …
Volkswagen to boost SUV sales to 40% of total by 2020 – Reuters: Volkswagen expects the proportion of sports utility vehicle sales to rise to 40% by 2020, from 25% last year, Chief Financial Officer Frank Witter said on …
Nissan to cut 12,500 jobs, more than double initial plan – Nikkei:
Nissan Earnings Sees 99% Profit Plunge – Bloomberg: Nissan reports a 99% plunge in first-fiscal quarter operating profit. Bloomberg’s Dani Burger reports on “Bloomberg Markets: European Open.” (Source: …
Nissan to Cut 12500 Jobs as It Struggles After Ghosn’s Arrest – Wall Street Journal: Nissan Chief Executive Hiroto Saikawa is cutting costs as he seeks to … On Thursday, Nissan said it planned to cut global production capacity by 10% …
Nissan to cut 12,500 jobs as first-quarter profit nearly wiped out – Reuters: Nissan Motor Co said on Thursday it would slash 12,500 jobs globally by 2022 and cut output to rein in costs as it suffers from sluggish sales and rising costs and tries to recover from a scandal surrounding ousted Chairman Carlos Ghosn.
Volkswagen Has ‘Strong Foundation,’ CFO Says – Bloomberg: Volkswagen AG Chief Financial Officer Frank Witter talks about the automaker’s financial results and business outlook. Volkswagen’s second-quarter operating …
Toyota Invests $600 Million in Chinese Ride-Hailing Giant Didi – Bloomberg: Their partnership builds on an alliance Didi started last year with a coterie of carmakers including China FAW Group, Dongfeng Motor Group and …
Nissan’s Ignoring the Rot at Home – Washington Post: If you’re looking for a metaphor for how politics has swamped decision-making at Nissan Motor Co., look no further than reported plans to restructure …
Volkswagen first-half operating profit up 10% on higher Volkswagen, Porsche sales – Reuters: Volkswagen Group (VOWG_p.DE) on Thursday said its first half operating profit rose 10.3% to 9 billion euros ($10.02 billion), …
Toyota says to invest $600 million in China’s Didi, new joint venture – Reuters: Toyota Motor Corp said on Thursday it will invest $600 million ( £481 million ) in Didi Chuxing and a new joint venture, as part of an agreement to expand …
As Tesla losses continue, Musk points to global growth – Automotive News: Tesla CEO Elon Musk, after reporting a surprisingly large loss in the second quarter, pointed toward an eventual, if delayed, return to profitability and …
Tesla Breaks Records But Doesn’t Break Even – Bloomberg: Just before the Q&A portion of Wednesday evening’s second-quarter call, CEO Elon Musk announced that JB Straubel, the company’s veteran chief …
SpaceX stops test of Starship prototype rocket during surprise livestream – CNBC: SpaceX was attempting to fly its “Starship” prototype rocket in its first short flight of more than a few feet off the ground on Wednesday.
Space jam? Companies risk clutter, conflict in race for the skies – Reuters: Aerospace companies such as Musk’s SpaceX and Bezos’ Blue Origin are aiming to become the first private firm to launch a human into space.
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Wednesday Morning Auto News, Jul 24, 2019
Gloomy day for Daimler, Nissan, but PSA roars – Reuters: Daimler and Aston Martin struggle, Nissan plans yet more job cuts – but Peugeot owner PSA is one automaker to defy gloom in the sector. Francis Maguire …
GM’s Driverless-Car Unit Cruise Delays Robot-Taxi Service – Wall Street Journal: General Motors’ driverless-car business, Cruise, will delay the roll out of an autonomous ride-hailing *service* scheduled for late this year, underscoring the …
Porsche tops J.D. Power study of most appealing new vehicles – Automotive News: Ram was the most improved brand and ranked highest in the mass-market segment while Ford Motor Co.’s brands received five model-level awards in the annual study of new-vehicle appeal.
European car giants Peugeot SA and Daimler show signs of fighting back amid global auto slowdown – Barrons: Peugeot maker PSA defied the global auto slowdown with a 10.6% profit rise in the first half of the year, while Mercedes owner Daimler’s stock rose on a more …
German carmaker BMW considers China as very strong driver of technology – Xinhua | English.news.cn – Xinhuanet: China is a very strong driver of technology, a spokesperson of German carmaker BMW told Xinhua on Wednesday. “We strongly …
PSA seeks European company legal status following Opel/Vauxhall takeover – Automotive News: Automaker says move will reflect group’s European scope following the takeover of Opel/Vauxhall.
Man jailed for 15 years for driverless car bomb plot – Guardian: A man who plotted a terrorist attack involving the use of a bomb inside a remotely controlled vehicle has been jailed for 15 years. Counter-terrorism …
Uber Drivers Lose Suit Over ‘Racist’ UK Environmental Fee – Bloomberg: It’s the latest stage of a long-running battle between those working for the ride-hailing firm and traditional cabbies, which has spilled from the city’s …
Brexit auto industry fears heightened with Boris Johnson becoming UK prime minister – Automotive News: Britain’s incoming prime minister has shown little sign that he takes the car industry seriously, having once said he knows about how to run an automaker than …
Why the UK auto industry will not welcome a Boris Johnson gov’t – Automotive News: … radio interview that he knew more about how to run an automaker than Jaguar Land Rover CEO Ralf Speth, who had just warned about job losses.
Daimler’s Q2 loss triggers more cost-cutting, product review – Automotive News: Daimler is battling slower demand in China and the U.S., along with huge costs to develop electric cars and regulatory scrutiny over its diesel emissions.
NHTSA says it is reviewing complaints of faulty Ford transmissions – Freep: Congressional leaders urged the review after a Free Press investigation found Ford sold the vehicles knowing their transmissions were faulty.
Nissan Braces for More Pain as Weak Profits Force Restructuring – Bloomberg: Nissan Motor Co. confirmed reports of a 90% drop in quarterly operating profit and a broader restructuring a day before posting results, underscoring the …
Tesla`s Ability to Make Money Is Under Spotlight as Results Loom – Bloomberg: Tesla Inc. sold a record number of cars during the second quarter. But did the company make enough money while doing so?
Breakingviews – If only James Bond could rescue Aston Martin – Reuters: If only James Bond could rescue Aston Martin Reuters(Reuters Breakingviews) – If only James Bond could come to the rescue of Aston Martin. The British maker of 007’s legendary sports car is struggling. With the …
German Car-Parts Maker Put Up for Sale Amid Spat Between Owners – Bloomberg: German auto parts maker Weber Automotive GmbH has been put up for sale as part of insolvency proceedings that started this month, according to a …
Uber Freight launches in Germany, taking on local competition – Reuters: U.S. ride-hailing company Uber is launching a freight platform in Germany, taking on local technology startups in a race to grab a share of Europe’s $500 billion trucking market.
Daimler CEO says there are no plans to pursue a merger or spin-off – Reuters: Daimler has no plans to spin off its trucks division or to pursue a merger with BMW as a way to raise the company’s share price, Chief Executive Ola Kaellenius said on Wednesday.
Toyota’s Thailand unit retains domestic car sales forecasts – Reuters: (Corrects date in dateline). BANGKOK, July 24 (Reuters) -. * Thailand’s total domestic cars sales for 2019 are still projected at 1 million units, down 3.8% from …
Aston Martin Plunges After Cutting Vehicle Sales Forecast on Challenging Outlook – Bloomberg: Aston Martin Lagonda cut its full-year sales forecast by as much as 14% after weakness in key markets intensified, joining a range of carmakers to warn of a …
Aston Martin cuts 2019 forecasts on UK, Europe weakness – Reuters: IndiaLuxury carmaker Aston Martin on Wednesday lowered several of its forecasts for this year, saying it had been hit by macro-economic uncertainty and weakness …
Nissan to Report 90% Plunge in Profit, Report Says – Bloomberg: Nissan Motor Co. will report a drop of about 90% in its fiscal first quarter … global alliance between Nissan, Renault SA and Mitsubishi Motors Corp.
Carmaker PSA defies gloom in auto sector with record profits – FT: French carmaker PSA posted record profits for the first half of 2019, bucking the gloom across the sector, as cost controls and the rollout of new models …
PSA Group profit jumps on pricing, Opel synergies – Reuters: French carmaker PSA Group delivered a sharp increase in first-half profit, as new models and the integration of Opel-Vauxhall more than made up for weaker emerging-market sales.
Nissan shares edge up on reports it will cut 10000 jobs – FT: … come as Hiroto Saikawa, Nissan’s chief executive, has struggled to stem the fallout from the arrest and ousting of its former chairman Carlos Ghosn.
Peugeot Maker Improves Profit Margins on More Costly Models – Bloomberg: Peugeot maker PSA Group’s profit margin widened to a record in the first half of the year through the sale of more expensive models, although the French …
Daimler Q2 hammered by Takata, diesel charges – Reuters: Luxury carmaker Daimler said it would intensify cost cuts after legal risks for diesel-related issues and the cost of replacing Takata airbags triggered a 1.56 …
Augmented Reality Is Now in Your Phone, Eyeglasses and Car – Washington Post: If you dodged real-world trash cans to chase virtual monsters during the Pokemon Go craze, you experienced augmented reality. Sixty years after …
US Truck Driver Shortage Is On Course to Double in a Decade – Bloomberg: Women make up less than 7% of drivers, and the industry is pushing to entice more with technology that makes trucks easier to drive and more …
Japan’s Nissan to double global job cuts to over 10,000 – source – Reuters: Nissan Motor Co Ltd plans to expand job cuts to over 10,000 to help turn around its business, a person with direct knowledge of the matter said on Wednesday, showing the tough road ahead for an automaker grappling with management upheaval.
Lyft makes self-driving research public to speed development – The Detroit News: It”s the largest such trove of data made available to researchers and rivals, Lyft said
Uber, Lyft Rides May Be Taxed Under San Francisco Measure – Bloomberg: Uber, Lyft Rides May Be Taxed Under San Francisco Measure. By … Ride-hailing customers may be forced to pay a new tax in the city where the …
Corrected: Nissan plans to cut over 10,000 jobs globally – Kyodo – Reuters: Nissan Motor Co Ltd is planning to cut more than 10,000 jobs globally as part of efforts to turn around its business, Kyodo News reported on Tuesday, citing company sources.
In win for Ford, Fed Circuit won’t extend ‘functionality’ defense to patent law – Reuters: The doctrine of aesthetic functionality, which limits the trademarking of the functional features of a product, does not extend to design patent law, a federal …
Harley-Davidson gets EU approval for plan to dodge $100 million tariff hit – Latimes: Harley-Davidson Inc.’s highly contentious plan to dodge tariffs by shifting some production overseas has been green-lighted just as the iconic …
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Tuesday Morning Auto News, Jul 23, 2019
Disruption, corruption loom over UAW union talks with Big Three Detroit automakers – CNBC: Uncommon issues during this year’s talks include technological changes threatening traditional union jobs and an ongoing federal corruption probe that has already led to eight convictions.
Tesla’s ‘Anemic’ High-Margin Model Sales Extends Profit Struggle – Bloomberg: Tesla Inc. is delivering more cars than ever because of the emergence of Model 3 customers like Mike Land. His view of the relative weakness of Elon Musk’s …
Daimler and Bosch get green light for ‘world’s first’ automated valet parking system – CNBC: Daimler said that the system was the “world’s first fully automated driverless SAE Level 4 parking function to be officially approved for everyday use.”
Once Feared Dead, Globalization Is Still Very Much Alive – Bloomberg: Car failure | Germany’s Continental AG cut its earnings outlook as the car-parts giant emerges as the latest industrial victim of trade woes tied to …
Ford faces lawsuit over allegations of false mpg ratings – Automotive News: The federal lawsuit seeks class-action status and follows two other lawsuits in consecutive months over the same issue in Ford Ranger trucks.
Continental’s Warning on Car Slump Shows Reality Is Hitting Home – Bloomberg: Continental joined French car-parts supplier Faurecia SA — which is … As part of a broader overhaul to brace for the industry’s shift to self-driving and …
All-electric Ford-150 is revealed – The Detroit News: Linda Zhang, chief engineer of the Ford F-150, shows the capability of a prototype all-electric F-150 by towing 10 double-decker rail cars and 42 2019-model year F-150s, weighing more than 1 million pounds
Germany’s Continental, Jungheinrich hit brakes as auto sector slows – Reuters: A slowing auto sector prompted profit warnings from supplier Continental and paint systems producer Duerr late on Monday.
Apple hires another Tesla engineer – Automotive News: Apple has hired Steve MacManus, at least the third Tesla engineering executive to join the technology giant in the last year. MacManus, a Tesla vice …
AMS re-opens door on Osram bid as recovery continues – Reuters: Apple supplier AMS (AMS. … VCSELs, used in the auto industry, are an infrared laser technology that helps to provide a large field …
France’s Faurecia holds course in ‘tougher than expected’ auto market – Reuters: French auto parts maker Faurecia (EPED.PA) said it maintained first-half profitability despite a China-led decline in auto production, …
China Sees Something in Daimler We’ve All Missed – Bloomberg: The company’s shares are still struggling to recover from an emissions scandal. But Asian suitors are interested in its electric-vehicle future.
Semiconductor supplier STMicroelectronics sees big gains from electrification shift – Automotive News: We recently shipped the first prototypes of the EyeQ5 chip for Level 4 autonomous driving applications, with mass production expected in 2020.
Seat’s Cupra teases high-performance EV – Automotive News: The production version is likely to use Volkswagen Group’s MEB electric architecture, which will underpin EVs for the VW, Audi, Seat and Skoda …
Beijing Auto Buys Stake in Daimler, Deepening Their Alliance – New York Times: The deal will tighten the German automaker’s ties to China, which has become an important market but where overall sales are falling.
The Robot Apocalypse Has Been Postponed – New York Times: The delay of self-driving cars is another sign that stagnation still trumps acceleration.
China’s BAIC Takes 5% Stake in Daimler to Boost Partnership – Bloomberg: Beijing Automotive Group Co. is poised to get a 5% stake in Daimler AG, the automaker’s long-standing partner in China to affirm their cooperation.
China’s BAIC buys 5% Daimler stake; Daimler welcomes investment – Reuters: Beijing Automotive Group Co Ltd said on Tuesday that it had purchased a 5% stake in Germany’s Daimler.
Staffing firm Randstad’s earnings hit by slowdown at German carmakers – Reuters: Netherlands-based staffing group Randstad on Tuesday said its underlying earnings fell 4% in the second quarter, below analyst forecasts, due to a slowdown …
China exports first batch of second-hand commercial vehicles – Xinhuanet: A ceremony was held Monday in north China’s Tianjin Municipality for the export of 60 second-hand commercial vehicles, …
Breaking Down Hyundai Earnings – Bloomberg: KJ Hwang, director at CGS-CIMB Securities, discusses Hyundai Motor earnings and his outlook for the South Korean auto sector. He speaks on …
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