This edition of the Morning Auto News brought to you from Hong Kong.
- Ford watches from the top as Chevy Silverado, Ram pickups brawl for No. 2 – Freep: A few questions with Kumar Galhotra. Kumar Galhotra, president of Ford North America answers a few questions at Ford World Headquarters in Dearborn, MI on …
- Tesla”s output slowed to 77,100 vehicles in Q1 – Detroitnews: The Palo Alto company churned out 77,100 vehicles from January to March, well behind the pace it must sustain
- Tesla’s junk bond slammed on car deliveries miss; CDS cost surges – Reuters: Tesla Inc’s $1.8 billion junk bond price fell by the most in seven months and the cost to insure its debt against default surged on Thursday after a bigger-than-expected drop in first-quarter deliveries.
- The Renault-Nissan Alliance Against Carlos Ghosn – Bloomberg: The Renault-Nissan Alliance Against Carlos Ghosn … The downfall of Carlos Ghosn, once idolized as the globe-trotting genius who turned France’s …
- Auto parts maker ZF Friedrichshafen wins biggest order in firm’s history – Reuters: * CEO sees autonomous driving as too expensive for private cars
- Citroen C5 Aircross will be PSA ‘flagship’ in India – Automotive News: The C5 Aircross compact SUV will lead Citroen’s entry into the Indian market, followed by three vehicles from a new range developed specifically for …
- Model 3 Tracker Misses Tesla’s Production Shortfall – Bloomberg: Bloomberg’s experimental tool overestimated production amid Tesla’s international rollout.
- IPWhoa: What to know before joining this year’s IPO wave – Washington Post: The ride-hailing company’s stock surged more than 20% from its IPO price on Friday. But by the first hour of Lyft’s second day of trading, the stock had …
- Former Hyundai, Nissan exec Rushforth joins auto data specialist – Automotive News: Rushforth’s automotive career includes stints at Rover Group, BMW Group, Jaguar Land Rover, Audi and UK dealer group Lookers. He was vice …
- Tesla shares skid after first-quarter deliveries disappoint – Reuters: Tesla Inc shares fell more than 8 percent on Thursday after a bigger-than-expected drop in first-quarter deliveries, led by waning demand for its luxury Model S …
- How Daimler got into a fight with Detroit – Automotive News: Mercedes-Benz USA filed four lawsuits against Detroit mural artists after a dispute over Instagram photos posted in January 2018.
- Tesla delivery numbers indicate 2019 will be a rough year – CNBC: Tesla’s first-quarter delivery numbers indicate the company has some tough … questions surrounding demand for its Model 3 sedan and CEO Elon Musk’s legal … Tesla did reiterate its annual delivery guidance of 360,000 to 400,000 …
- Skoda’s new components chief is powertrain expert – Automotive News: Volkswagen Group veteran Christian Bleiel will head component production at Skoda. Bleiel succeeds Frank Engel, who moves to …
- The Data German Stocks Care Most About Is China’s Data – Bloomberg: Important German car exports show some bottom-building, Ifo Institute business expectations gained last month for the first time since August 2018, …
- For Carlos Ghosn, an Early Morning Knock Increases the Pressure, Again – New York Times: The authorities knocked on Carlos Ghosn’s door just before 6 a.m. He and his wife, Carole Ghosn, were still in their pajamas.
- Stock futures stall | Tesla shares tanks | Dimon defends capitalism – CNBC: It’s not clear that the stock market’s recent rally will end today, but it’s also unclear that it will continue, with futures trading close to the flat line.
- JP Morgan says Tesla just undermined Elon Musk’s defense against the SEC – CNBC: Tesla may have just hurt Elon Musk’s own case in his battle with the SEC, according to J.P. Morgan. “The now clear incongruence of CEO outlook …
- Brexit Turns Off UK Car Buyers With Worst March Since 2013 – Bloomberg: Car sales dropped 3.4 percent year-on-year to 458,054 passenger vehicles as consumers stayed away from showrooms during what’s usually a …
- Elon Musk’s Plan to Boost Tesla Sales Is Dealt a Setback – Fortune: The shortfall is a setback for Chief Executive Officer Elon Musk’s plan to accelerate sales with lower prices and target more markets worldwide.
- Wall Street analysts say Tesla’s first-quarter deliveries were ‘substantially worse’ than expected – CNBC: Wall Street analysts were very disappointed in Tesla’s first-quarter delivery and production figures.
- Opinion: Why safety tech and speed limiters can’t save us all – Autocar: The motor industry and global legislators want our roads to be fatality-free in future, but that could present a conundrum that technology can”t solve To recap, then, Volvo recently announced that it”s limiting all of its cars to 112mph from 2021. It…
- Ghosn’s lawyer slams Japan’s ‘hostage justice’ after Ghosn rearrested – Automotive News: … escalating the legal jeopardy facing the former chairman of the Renault, Nissan, Mitsubishi alliance and potentially stymying plans to tell his side of …
- Elon Musk Tweet to Get Review From Judge as SEC Seeks Sanctions – Bloomberg: A federal judge in Manhattan will spend the afternoon Thursday considering Elon Musk’s February Twitter post that the SEC claims is beyond the pale.
- Elon Musk to square off with SEC in court at contempt hearing – Reuters: Lawyers for Tesla Inc Chief Executive Elon Musk will argue on Thursday that he did not violate a fraud settlement with the U.S. Securities and Exchange Commission and should not be held in contempt, the latest twist in a high-profile battle between the…
- Self-driving cars could provide £62bn boost to UK economy by 2030 – Guardian: But such potential would be threatened by a no-deal Brexit, says SMMT.
- Uber but for Xi Jinping – New York Times: If there’s one thing we know for certain about China in 2019, it’s that people there love their apps. They use WeChat to talk with friends; they spend …
- Tesla’s Elon Musk to square off with SEC in court at contempt hearing – Reuters: … could lead to restrictions on his activities or even his removal from Tesla, while distracting him at a pivotal point in the electric car maker’s expansion.
- Tesla, Volvo, Audi make gains as German market slips 0.5% in March – Automotive News: Registrations in Germany fell 0.5 percent to 345,523 in March, according to data published by the KBA Motor Transport Authority on …
- Ready For a Fast Charge? – Bloomberg: Electric car chargers are evolving at lightning speed– trouble is, batteries are having a tough time keeping up More via @business: …
- Uber Beefs Up Lobbying in Pre-IPO Makeover: The Influence Game – Bloomberg: A relative newcomer to Washington, Uber Technologies Inc. has revved up its Washington influence machine as the ride-sharing company expands …
- Lyft Is Luring Investors, Just Not the Kind It Wants – New York Times: The percentage of shares on loan at Lyft is roughly equal to the level at Tesla, the electric-car maker, whose chief executive has waged a very public …
- Energy group Total’s Saft arm strikes China batteries deal – Reuters: The Saft subsidiary of French energy group Total has struck a new deal to expand its presence in China in the fast growing market for batteries, energy storage and electric vehicles.
- Tesla’s dire deliveries – FT: The electric car company reported total deliveries of 63,000, a 31 per cent drop … and far below analyst’s consensus of 71,350, according to Bloomberg data. … This led to 10,600 cars being in transit to customers at quarter end, the …
- Aston boss: cost of autonomy will force mass car firm mergers – Autocar: Andy Palmer predicts major industry consolidation due to heavy spending required to develop new technology The investment needed to develop connected and autonomous vehicles will likely lead to mass consolidation of car companies globally, according…
- Volkswagen tests self-driving tech in Hamburg – Automotive News: Volkswagen Group has started testing Level 4 self-driving technology on the streets of Hamburg in Germany. The tests involve five e-Golfs …
- China flags support for parallel car imports, used car markets – Reuters: China’s commerce ministry said on Thursday that it will roll out measures to support the country’s parallel car imports and used automobile markets to boost car sales.
- Total Teams With Chinese Battery Maker in Latest Shift for Big Oil – Bloomberg: Total bought battery maker Saft for 950 million euros ($1.07 billion) in 2016, while Royal Dutch Shell Plc acquired car-charging operator NewMotion a …
- Italy sales slump 10% in March as consumer confidence declines – Automotive News: Within the Volkswagen Group, VW brand registrations slipped 3.5 percent and Skoda 1.8 percent, while Seat sales rose 14 percent. The T-Roc small …
- Spain sales fall 4% in March as diesel share falls to new low – Automotive News: Within the Volkswagen Group, the VW brand suffered a 14 percent decline in March and Skoda dropped 20 percent. The Spanish brand Seat saw …
- Nikkei edges up to 1-month high on trade optimism – Reuters: Japan’s Nikkei edged up to a one-month high on Thursday as investors bought carmakers and other cyclical shares on growing hopes that a trade deal can be reached between Washington and Beijing.
- Prosecutors confiscate Ghosn’s wife’s passport, mobile – Ghosn’s lawyer – Reuters: Tokyo prosecutors confiscated the passport and mobile phone of Carlos Ghosn’s wife, Carole, when they arrested the former Nissan boss on Thursday morning, his lawyer said, adding that the defence team would “strongly appeal” the latest arrest.
- Ghosn getting French consular protection -finance minister – Reuters: Ousted Renault-Nissan boss Carlos Ghosn, who was re-arrested in Japan on Thursday, is getting French consular protection, French finance minister Bruno Le Maire told BFM TV.
- Ghosn reiterates innocence, asks French government to defend him – Reuters: Carlos Ghosn called on the French government to defend him and reiterated that he was innocent in an interview aired on Thursday with French TV stations TF1 and LCI.
- New Renault Zoe EV to be “heavy phase-two design” – Autocar: Renault’s redesigned electric small car will launch by the summer, and will evolve the existing themes of today’s model The next-generation Renault Zoe, due before the summer, will be a “heavy phase two design rather than a new car from the ground…
- Banned from internet or not? Does Ghosn’s tweet violate bail terms? – Reuters: Carlos Ghosn’s sudden emergence on Twitter, a day before he was re-arrested on Thursday, has raised questions about whether the former Nissan Motor boss violated the strict terms of his $9 million bail – something his lawyer has denied.
- UK new car sales fall around 3 percent in March: preliminary data – Reuters: British new car registrations fell by around an annual 3 percent last month as uncertainty over diesel and Brexit continued to hit …
- China scrambles to tap EV battery recycling opportunity – Nikkei: GEM, he added, has over 10 years of experience and has battery recycling contracts with 120 companies, including Dongfeng Motor, BAW and Toyota …
- Minivans try to hold their ground as SUVs circle the wagons – Automotive News: “The modern rendition of the sport utility vehicle [is] car-based and has all of the … Ryan Desa, automotive product planner for Honda Canada, said the … But at Fiat Chrysler Automobiles, maker of the original minivan – the Grand …
- Skoda, Seat improve warranty on new cars – Autocar:
- Hackett’s Ford finally coming into focus – Detroitnews: After nearly two years as CEO of Ford Motor Co., Jim Hackett’s sweeping restructuring of the global automaker is taking shape
- Carlos Ghosn criticises ‘outrageous and arbitrary’ detention after fresh arrest – Guardian: Carlos Ghosn has been put back under arrest over allegations he misused company funds, prompting the former Nissan chairman to angrily …
- Tesla Delivers a Dud – WSJ: Tesla unveiled disappointing delivery numbers and more logistical headaches during the first quarter that probably mean it wasn’t profitable.
- VW, Tesla, Ford Roll Out EV Pumps That Give Speedier Recharges – Bloomberg: Electric car makers and energy companies are driving the global rollout of ultra-fast charging pumps. With thousands of souped-up stations are being …
- Carlos Ghosn Arrested in Tokyo Over New Accusations – New York Times: Carlos Ghosn, the embattled former chief of the Nissan-Renault-Mitsubishi auto alliance, was arrested for a fourth time on Thursday as he …
- Expect Wizards to be deliberate in GM search. They will have plenty of options. – Washington Post: After firing long-time executive Ernie Grunfeld, the Washington Wizards and Ted Leonsis begin their search for a new president in earnest.
- Tesla deliveries drop 31 percent in first quarter due to overseas shipping challenges – Reuters: Tesla Inc delivered a third less vehicles in its first quarter as the electric car maker struggled with its first shipments of the Model 3 sedan to Europe and China due to longer transit times.
- Tesla Reports 31% Drop in Deliveries for First Quarter – New York Times: The electric-car maker, led by Elon Musk, said the lower-than-expected … The company previously said it would lose money in the first quarter.
- Carl Icahn sold Lyft stake to Soros prior to IPO: WSJ – Reuters: Billionaire investor Carl Icahn sold his roughly 2.7 percent stake in Lyft Inc to investor George Soros ahead of the ride-hailing company’s initial public offering, the Wall Street Journal reported
- Tesla first-quarter deliveries drop 31% compared to previous period – Latimes: Electric car-maker Tesla Inc. delivered about 63,000 vehicles to customers during the first quarter, a 31% drop from the previous quarter, the Palo Alto …
- Tesla delivers fewer than expected Model 3 sedans in first quarter – Reuters: Tesla Inc delivered fewer than expected Model 3 sedans in its first quarter as the electric car maker shifted its sales focus to international markets, where transit …