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Toyota-Mazda Shared Plant To Crop Up In Alabama Or North Carolina

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Toyota-Mazda Shared Plant To Crop Up In Alabama Or North Carolina

15 Nov 2017, 14:32 UTC · by Mircea Panait
/ Home / News / Industry

Building and selling cars is big business. And in addition to big, it’s complicated business for one too many reasons, chief among which is legislation. In the U.S., for example, it’s easier for foreign automakers to build cars locally because the state will offer incentives. This, in turn, creates jobs, and the pricing advantage over imports is nothing to scoff at.
9 photos Toyota and Mazda find themselves in this situation, with the two announcing that they’re planning on spending $1.6 billion on a plant in the United States that will create 4,000 jobs. The factory would be operational by 2021, but there’s a catch with this promise. And that catch is, Toyota and Mazda have refused to spell out the location where the plant will be.
The background story originates with Donald Trump, who attacked Toyota with a “big border tax” over the automaker’s plan to construct a factory in Guanajuato, Mexico. There, Toyota would’ve produced the Corolla, but once President Trump got in on the action, the Japanese automaker decided that it would be better to build the Tacoma in Mexico.
Trump’s attack wasn’t in vain, for the POTUS convinced Toyota to relegate Corolla production to the United States, at the factory this story is about. Mazda joined Toyota in its ambitious plan, with Mazda announcing that it'll build “new crossover vehicles” at the yet-to-be-constructed plant.
According to Bloomberg, the search for a location for the Toyota-Mazda plant has been narrowed to two states: Alabama and North Carolina. All that’s left to do now is for state officials to sweeten the deal, with Toyota-Mazda expected to take the better offer as far as incentives are concerned.
Whichever state wins, the shared factory is actually a victory for the Trump administration. After all, it is “the first new auto assembly plant to be announced during the tenure of President Donald Trump,” and that’s good news considering Ford will source the next-generation Focus from China.
Editor's note:

Mazda2 Sedan-based Scion iA pictured.

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Volkswagen Production Milestone: 6 Million Vehicles Manufactured In One Year

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Volkswagen Production Milestone: 6 Million Vehicles Manufactured In One Year

30 Dec 2017, 12:43 UTC · by Mircea Panait
/ Home / News / Industry

The Volkswagen Group is the world’s largest automaker by sales volume, delivering 10.3 million vehicles in 2016. Production, as expected, is another area where the Wolfsburg-based company is at the top of its game.
10 photosWith a few days to go until 2017 turns to 2018, the Volkswagen brand (not group) announced that it had produced six million vehicles in the current calendar year. It’s a production record made possible by 50-plus plants located in 14 countries, and a product portfolio of 60-plus models.

“More than six million vehicles produced in 12 months – there is one thing that this shows above all: our plants and employees are continually improving their production competence. We have top teams in production which successfully master growing demand from customers,” declared Thomas Ulbrich, whose role is that of Member of the Board of Management of the German brand responsible for Production & Logistics.
Volkswagen highlights that the models which made the production record possible are the Jetta, followed by the Golf, Santana, Passat, and Polo. These are all nameplates with tradition for the brand, though newcomers also had a say in the result, especially the Tiguan, T-Roc, and the Arteon.
This year’s result brings the total number of Volkswagen vehicles produced to more than 150 million since the first-ever Bettle rolled off the line 72 years ago. And thanks to the Transform 2025+ strategy, the German automaker is planning even bigger things in the immediate future.
In the first phase of the plan, Volkswagen intends to strengthen its presence in the sport utility vehicle and crossover segments by introducing 19 new models by 2020. The second phase, meanwhile, will see the brand go on the electric offensive with the I.D. family of models. Underpinned by the MEB vehicle architecture, three models are already confirmed for launch in the first instance: the I.D. hatchback, I.D. Crozz crossover, and I.D. Buzz van.

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2019 BMW X5 (G05) Coming Next Summer, Launching In Q3 2018

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2019 BMW X5 (G05) Coming Next Summer, Launching In Q3 2018

14 Nov 2017, 10:11 UTC · by Mircea Panait
/ Home / News / Car Profile

The X5 is one of the most successful members of the BMW lineup, with the mid-size sport utility vehicle being popular in Europe and the United States alike. Now in its third generation, the X5 prepares to make way for the fourth-generation model in the guise of the G05 X5. According to the latest reports, the newcomer should be presented in the summer of 2018.
31 photosWhat that means is, the F15 X5 won’t live to see the Life Cycle Impulse. And in turn, what that means is that the F15 X5 boasts one of the fastest turnarounds in recent memory for the BMW Group. But then again, it’d be foolish for the Bavarian automaker to milk out the current model as the X3 got overhauled from the ground up and the X7 is right around the corner. The question is, what is there to expect from the G05 X5?
First things first, the modular platform BMW calls CLAR serves as the backbone of the mid-size SUV. Wider and longer than the F15, the G05 will drop a few pounds compared to its predecessor, thus helping with both gas mileage and handling. Engine-wise, nothing much will change from the current model when it comes to the number of cylinders and number of gears in the ZF-sourced transmission. From a four-cylinder turbo displacing 2.0 liters in the xDrive40e plug-in hybrid to the 4.4L twin-turbo V8 in the X5 M, diversity is the name of the game.
From a design standpoint, the G05 X5 borrows styling from the latest-generation X3 and the Concept X7 iPerformance. The upright fascia is complemented by larger kidney grilles, while the roofline and quarter panels at the rear give the next-gen X5 a more hunkered-down stance.
BMW is already testing pre-production prototypes of the G05 at the Nurburgring and on the public roads, so here’s hope the newcomer touches down in the summer of 2018. According to BMW Blog, the current-generation X5 is scheduled to end production at the Spartanburg plant “in July 2018.”

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Consumer new car finance volumes down 8%

6 October 2017
New figures released today by the Finance & Leasing Association (FLA) show that new business volumes in the point of sale (POS) consumer new car finance market fell by 8% in August, compared with the same month in 2016, while the value of new business was up by 2% over the same period.
The percentage of private new car sales financed by FLA members through the POS held steady at 86.0% in the twelve months to August.
The POS consumer used car finance market reported new business in August up 8% by value and 2% by volume, compared with the same month last year.
Commenting on the figures, Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said:
“The August figures reported by the POS consumer new car finance market are in line with wider trends in private new car sales. These trends are not unexpected given the strength of the market in recent years and subdued consumer confidence about the general economic outlook.
“New business volumes in the POS consumer car finance market overall were stable in the first eight months of 2017 compared with the same period in 2016.”
Table 1: Cars bought on finance by consumers through dealerships
New business
Aug 2017
% change on prev. year
3 months to Aug 2017
% change on prev. year
12 months to Aug 2017
% change on prev. year
New cars
Value of advances (£m)
817
+2
3,561
+2
18,356
+4
Number of cars
45,728
-8
191,258
-7
1,002,368
-3
Used cars
Value of advances (£m)
1,284
+8
3,855
+12
14,568
+10
Number of cars
113,221
+2
339,625
+6
1,301,475
+5
Table 2: Cars bought on finance by businesses
New business
Aug 2017
% change on prev. year
3 months to Aug 2017
% change on prev. year
12 months to Aug 2017
% change on prev. year
New cars
Number of cars
30,146
+3
132,405
+5
513,616
0
Used cars
Number of cars
5,293
+51
17,534
+54
58,848
+35
Note to editors:
In 2016, FLA members provided £118 billion of new finance to UK businesses and households. £88 billion of this was in the form of consumer credit, over a third of total new consumer credit written in the UK in 2016. £41 billion of it supported the purchase of new and used cars, including over 86% of private new car registrations.2. For media enquiries, please contact the FLA press office on 020 7420 9656.

Second charge mortgage market growth continues in August

6 October 2017
Commenting on the August 2017 new business figures for the second charge mortgage market, Fiona Hoyle, Head of Consumer and Mortgage Finance at the Finance & Leasing Association (FLA), said:
“The second charge mortgage market reported another strong month in August, with new business continuing to grow from a low base.
“A second charge mortgage provides a useful alternative where homeowners want to raise additional funds but do not want to change their existing first charge mortgage.”
Table 1: New second charge mortgage lending
Aug 2017
% change on prev. year
3 months to Aug 2017
% change on prev. year
12 months to Aug 2017
% change on prev. year
Value of new business (£m)
91
+25
274
+27
974
+10
Number of new agreements (No.)
1,905
+11
5,852
+18
20,910
+4
Note to editors:
FLA members in the consumer finance sector include banks, credit card providers, store card providers, second-charge mortgage lenders, motor finance providers, personal loan and instalment credit providers.In 2016, FLA members provided £118 billion of new finance to UK businesses and households. £88 billion of this was in the form of consumer credit, representing over a third of total new consumer credit written in the UK in 2016.For media enquiries, please contact the FLA press office on 020 7420 9656.

Consumer finance up 4% in August

6 October 2017
New figures released today by the Finance & Leasing Association (FLA) show that consumer finance new business in August grew by 4% compared with the same month last year.
Credit card and personal loan new business together grew by 4% compared with August 2016, while retail store and online credit new business increased by 7%. Second charge mortgage new business increased 25% by value and 11% by volume over the same period.
Commenting on the figures, Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said:
“The modest growth in consumer finance new business overall in August reflects subdued consumer confidence about the general economic outlook.
“New business grew by 6% in the first eight months of this year, which is in line with single-digit growth expectations for UK new consumer credit in 2017 as a whole.”
Table 1: New consumer credit lending
Aug 2017
% change on prev. year
3 months to Aug 2017
% change on prev. year
12 months to Aug 2017
% change on prev. year
Total FLA consumer finance (£m)
7,155
+4
22,470
+8
91,582
+6
Data extracts:
Retail store and online credit (£m)
501
+7
1,589
+7
6,668
+2
Credit cards & personal loans (£m)
4,038
+4
11,997
+10
46,872
+7
Second charge mortgages (£m)
91
+25
274
+27
974
+10
Car finance (£m)
2,101
+6
7,416
+7
32,924
+7
Note to editors:
FLA members in the consumer finance sector include banks, credit card providers, store card providers, second-charge mortgage lenders, motor finance providers, personal loan and instalment credit providers.In 2016, FLA members provided £118 billion of new finance to UK businesses and households. £88 billion of this was in the form of consumer credit representing over a third of total new consumer credit written in the UK in 2016.For media enquiries, please contact the FLA press office on 020 7420 9656.

Continued growth in asset finance

6 October 2017
New figures released today by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) grew by 3% in August, compared with the same month last year.
The plant and machinery finance sector reported new business up in August by 4% compared with the same month in 2016, while new finance for business equipment was up by 8% over the same period.
Commenting on the figures, Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said:
“The asset finance industry has reported solid new business growth so far in 2017. Growth in asset finance provided to manufacturers has been particularly robust, with new business for production and processing plant up by more than 40% in the first eight months of 2017.”
Aug 2017
% change on prev. year
3 months to Aug
2017
% change on prev. year
12 months to Aug
2017
% change on prev. year
Total FLA asset finance (£m)
2,204
+3
7,957
+6
31,803
+6
Total excluding high value (£m)
2,163
+4
7,726
+10
30,643
+7
Data Extracts:
By asset:
Plant and machinery finance (£m)
502
+4
1,773
+21
6,546
+14
Commercial vehicle finance (£m)
513
-7
1,771
+1
7,479
+2
IT equipment finance (£m)
171
-3
595
+3
2,224
-2
Business equipment finance (£m)
187
+8
694
+10
2,567
+14
Car finance (£m)
613
+10
2,452
+9
9,842
+7
Aircraft, ships and rolling stock finance (£m)
7
-76
27
-82
611
+12
By channel:
Direct finance (£m)
1,108
+2
4,041
+9
15,571
+6
Broker-introduced finance (£m)
453
+7
1,385
+7
5,744
+16
Sales finance (£m)
602
+7
2,300
+12
9,327
+6
By product:
Finance leasing (£m)
272
0
989
+5
4,018
-2
Operating leasing (£m)
470
+4
1,687
+9
7,107
+8
Lease/Hire purchase (£m)
1,194
+3
4,201
+7
16,618
+9
Other finance (£m)
268
+4
1,080
0
4,059
+3
Note to editors:
In 2016, FLA members provided £118 billion of new finance to UK businesses and households. £30 billion of finance was provided to businesses and the public sector. FLA members financed more than a third of UK investment in machinery, equipment and purchased software in the UK in 2016.For media enquiries, please contact the FLA press office on 020 7420 9656.

China’s Used Car Deals Speed Up As Didi Chuxing Invests $200M In Renrenche.com

Didi Chuxing has bought US$200 million worth of shares in Beijing-based second-hand car marketplace Renrenche.com in a strategic investment, marking the latest investment deal in China’s fast moving online used-car market, according to Didi’s announcement. The funding is a boost for Renrenche, as its three top competitors have each raised money recently. Uxin Group, Guazi.com… Continue reading China’s Used Car Deals Speed Up As Didi Chuxing Invests $200M In Renrenche.com