Tag: FCA

Fiat Chrysler CEO says it has strong momentum into H2

MILAN, July 31 (Reuters) – Fiat Chrysler enters the second half of the year with strong momentum, especially in North America and Latin America, Chief Executive Mike Manley said on Wednesday. Speaking after the group’s second quarter results, he said the company expected pricing pressure in China in the third quarter. (Reporting by Giulio Piovaccari… Continue reading Fiat Chrysler CEO says it has strong momentum into H2

Fiat Chrysler defies slowdown thanks to North America performance

MILAN (Reuters) – Fiat Chrysler (FCHA.MI) (FCAU.N) took the market by surprise by sticking to its full-year profit guidance on Wednesday after a strong performance from its RAM pick-up brand in North America helped it to defy an industry slowdown. FILE PHOTO: Fiat Chrysler Automobiles (FCA) unveils the 2019 RAM Power Wagon pick up truck… Continue reading Fiat Chrysler defies slowdown thanks to North America performance

UPDATE 1-Fiat Chrysler maintains guidance thanks to strong North America performance

FILE PHOTO: Fiat Chrysler Automobiles (FCA) unveils the 2019 RAM Power Wagon pick up truck at the North American International Auto Show in Detroit, Michigan, U.S., January 14, 2019. REUTERS/Rebecca Cook/File Photo MILAN (Reuters) – Fiat Chrysler (FCHA.MI) (FCAU.N) stuck to its full-year profit guidance on Wednesday after operating profits topped expectations in the second… Continue reading UPDATE 1-Fiat Chrysler maintains guidance thanks to strong North America performance

Fiat Chrysler confirms year guidance on strong North America performance

MILAN, July 31 (Reuters) – Fiat Chrysler reiterated its full-year profit guidance on Wednesday after operating profits topped expectations in the second quarter, thanks to record results in the North American market. In its first earnings release after a failed attempt to merge with France’s Renault, FCA said its was confident its adjusted earnings before… Continue reading Fiat Chrysler confirms year guidance on strong North America performance

Interview: former Mercedes boss Dieter Zetsche – Top Gear

Few people have had as much influence on the cars we drive as Dieter Zetsche. He was chief engineer at Mercedes from the early-1990s, responsible for a rapid expansion in the model range. He was made boss of the merged DaimlerChrysler organisation, and boss of the Daimler Group since the two split. A quarter century. We… Continue reading Interview: former Mercedes boss Dieter Zetsche – Top Gear

Jaguar Land Rover looks to forge “strategic, tactical partnerships” to be future-ready

Luxury car and SUV manufacturer Jaguar Land Rover, which has weighed heavy on owner Tata Motors’ Q1 FY2020 numbers, is making moves to better its performance. As it advances on a major cost-cutting drive, it also recognises the need to be future-ready. Towards that objective, the Tata Motors-owned company is looking at striking new partnerships even as it faces some major headwinds.

Speaking at Tata Motors’ annual general meeting in Mumbai today, chairman N Chandrasekaran said: “The only way to handle this need for capex is additional investment through partnerships, because we want to spread the investment. There are many discussions underway from tactical to strategic.”
This could mean the company could forge new connections with established automotive players globally or even with start-ups. Something similar to what global automakers like Daimler and the BMW Group are doing.

Addressing shareholders, Chandrasekaran also said that Jaguar Land Rover witnessed growth in China during July 2019, for the first time in a year. The market slowdown in China meant a sizeable drop in JLR’s volumes, between 40-50 percent. “But I'm hopeful because for the first time in 12 months, we are seeing a positive volume growth in China in July. Last month it recovered and this month it looks good. But we need to wait for a couple of more months to see whether there's a trend,” said Chandrasekharan.

Brexit impacting JLR's supply chain
Another issue impacting the luxury carmaker's future growth is Brexit. The danger and impact felt by automakers in Britain in leaving the European Union without a trade deal in place will be much more of Jaguar Land Rover than any other company.

“The real concern is if Brexit were to happen with a deal or no deal, what will be the impact on our supply chain? Jaguar imports millions of components from other parts of the world, particularly Europe into UK. In the situation of Brexit, there's a possibility of a supply chain breakdown which essentially means production cannot happen, inventories are to be maintained and some of the losses that we are seeing is also because we have to calibrate the supply chain,” said Chandrasekaran.

“Like any other auto company, JLR has to invest in future technologies to address the move away from ICE to hybrid and electric. It also has to invest in future models, make necessary investments in areas like shared mobility, and also beyond that. That's very important to stay alive in this ecosystem. All this means is there is a need for capital investment if you want to be future-ready.”

“During the past 12-18 months, we have cut down capex from around £4.5 billion (Rs 34,483 crore) to £3.98 billion (Rs 30,499 crore) last year. We are working towards cutting down further but we can't take a very drastic cut. These opportunities keep coming and we keep evaluating every one of these opportunities and as long as it is in the interest of Tata Motors, we will forge such partnerships so that we are able to address the capex,” said Chandrasekaran.

It may be recollected that Jaguar Land Rover’s CEO, Ralf Speth, has repeatedly warned of the damage a No-Deal Brexit could cause if cars made in the UK but exported to Europe carry a tariff, or if parts required to build cars in the UK are required to undergo border checks. He has estimated the potential cost to the firm to be up to £60m (Rs 510 crore) per day.

Also read: Toyota commits $600m in new JV with China's DiDi

Daimler sees investment by long-term ally BAIC Group

Daimler and BMW join forces to develop SAE Level 4 automated driving vehicles

Hyundai and Rimac upbeat on electric sports car and high-performance FCEV plan

Proposed FCA, Renault merger will create world's third largest OEM

Mahindra and Ford to jointly develop midsize SUV for India and emerging markets

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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