FILE PHOTO: Werner Struth, member of the board of management of Robert Bosch GmbH, watches a video during a Bosch news conference at the 2017 CES in Las Vegas, Nevada, U.S., January 4, 2017. REUTERS/Steve Marcus WASHINGTON (Reuters) – German auto supplier Robert Bosch GmbH [ROBG.UL] will pay around $131 million to settle claims from… Continue reading UPDATE 1-Germany’s Bosch to pay $131 mln to settle U.S. diesel emissions claims
Tag: FCA
Fiat Chrysler to pay $800m to settle emissions cheating case
Agreement with US and California authorities includes promise to repair diesel cars Go to Source
UPDATE 1-Fiat Chrysler agrees to U.S. diesel-emissions settlement worth nearly $800 mln
FILE PHOTO: A Fiat Chrysler Automobiles (FCA) sign is seen at its U.S. headquarters in Auburn Hills, Michigan, U.S. May 25, 2018. REUTERS/Rebecca Cook/File Photo WASHINGTON (Reuters) – Fiat Chrysler Automobiles NV has agreed to pay close to $800 million to settle claims from the U.S. Justice Department and California relating to allegations it used… Continue reading UPDATE 1-Fiat Chrysler agrees to U.S. diesel-emissions settlement worth nearly $800 mln
FCA will keep Jeep Wrangler production in Toledo – The Detroit News
Michael Martinez and Melissa Burden, The Detroit News Published 1:48 p.m. ET Sept. 1, 2015 Fiat Chrysler Automobiles NV will keep building the Jeep Wrangler in Toledo (Photo: Detroit News file photo) Fiat Chrysler Automobiles NV will keep building the Jeep Wrangler in Toledo, according to a union representative who was briefed on the automaker’s… Continue reading FCA will keep Jeep Wrangler production in Toledo – The Detroit News
Top Automotive Industry News for Week of December 17 – December 23, 2018
Here is the most important news associated with the automotive industry
identified by the AEA for the week of December 17, 2018 – December 23,
2018.
We hope it helps you stay up to speed on the key developments in our
industry:
-AEA Membership News-
The next AEA Members Reception will be held on Thursday January 24th,
2019 in San Francio. Invitations have been sent to all current AEA
Members. Annual AEA Member Dues renewal will occur on January 2 nd, 2019. If you have any questions, please contact
memberservices@automotiveexecutives.com
-Automotive Manufacturing News–Automotive Manufacturing News-
Carlos Ghosn vows to 'restore my honor' in first remarks since arrest
(autoblog)
Ford's New Truck-like Explorer SUV To Debut Jan. 9 Ahead Of Detroit
Auto Show
(Forbes)
General Motors hints it could negotiate a way to keep one or more
plants open
(CNBC)
German automakers BMW, Daimler stand to benefit the most if China cuts
US auto tariffs
(CNBC)
Ghosn Rearrested, Now Faces 20 Years in Prison
(Forbes)
GM gets thousands of holiday letters about plant closings
(Detroit Free Press)
IIHS Unveils Top Safety Pick Plus Models for 2019
(The Detroit Bureau)
In the Switch to Electric Vehicles, Expect a Few Giants to Crash
(Bloomberg)
Jeep Wrangler plant uses rotisserie to crank out SUVs
(Detroit Free Press)
Nissan to lay off 1,000 Mexican workers, citing market challenges
(autoblog)
Tesla Survived Manufacturing Hell–Now Comes The Hard Part
(Forbes)
UAW scandal sending union's ex-No. 2 in Fiat Chrysler Department to
prison
(Detroit Free Press)
-Automotive Evolution News-
Daimler, BMW Get U.S. Approval for Mobility Company
(The Detroit Bureau)
How electric cars are slowly moving from niche to something 'people
want to buy'
(CNBC)
Laser Vision Upstart Luminar Reveals Self-Driving Tech Alliance With
Audi's AID Unit
(Forbes)
NHTSA Moves to Accelerate Autonomous Vehicle Petitions
(The Detroit Bureau)
Self-driving bill hits dead end in U.S. Senate
(The Detroit News)
The Year Of The Scooter: The Good, The Bad, And The Road Ahead
(Forbes)
Uber's self-driving cars are back on the road, nine months after a
fatal accident
(CNBC)
Zoox Inc. Snags First California Permit To Transport Passengers In
Self-Driving Cars
(NPR)
-Automotive Retail News-
Beating Predictions, 2018 New Car Sales to Surpass 2017 Results
(The Detroit Bureau)
CarMax's stock drops after earnings beat, but used car sales miss
(MarketWatch)
Fed Raises Interest Rate, Lowers Growth Forecast
(Auto Dealer)
Shopping for a new car? Buy before the Fed rate hike affects car loans
(MarketWatch)
Study: Dealers Overspend on Marketing
(Auto Dealer)
U.S. auto sales seen falling 1% in December, say J.D. Power, LMC
(autoblog)
-Automotive Wholesale News-
Car Values at Auction Continue Decline at Year's End
(Vehicle Remarketing)
-Automotive Ownership News-
'Dramatic drops' in gas prices: Less-than-$2 gas is here for many
American motorists
(USA Today)
-Automotive Enthusiast News-
In a blatant attempt to pull at our heart strings, Chevrolet is
offering an in-car Santa tracker
(CNBC)
The most amazing classic car stories of 2018
(FOX News)
-Automotive Servicing News-
Citing Fire Danger Ford Recalls 410,000 Pickups
(Forbes)
Report: 16.7M faulty Takata air bags still on US roads
(The Detroit News)
The Biggest and Smallest Automotive Recalls of 2018
(Car and Driver)
Tesla Model S catches fire in California town: Fire Department
(CNBC)
-General Business & Executive News-
ACV Auctions continues rapid disruption of $100B wholesale automotive
industry
(PR Newswire)
Car rental company Fair raises $385 million in SoftBank-led funding
round
(Reuters)
CU Direct's credit union network leads in auto loan originations
(Automotive News)
The real problem with the American auto industry
(CNN)
U.S. third-quarter growth trimmed; business spending slowing
(Reuters)
-AEA Reminder-
Did we miss something? Let us know via our
Contact Us Page >>
. If you have specific important news going public soon that you would like
to share with your fellow AEA Members, submit your
PR Distribution Request >>
Have a great week,
Member Services
memberservices@automotiveexecutives.com
Automotive Executives Association
www.automotiveexecutives.com
New 2019 Lamborghini Huracán previewed ahead of unveiling – Autocar
Lamborghini has pulled the covers off its updated and more powerful Huracán, following a number of preview images posted in the past few days. The new-for-2019 Ferrari 488 rival now adopts the Huracán Evo nameplate, reflecting its changes. The images reveal a number of styling changes designed to offer “aerodynamic superiority”, with a new front bumper bringing enlarged… Continue reading New 2019 Lamborghini Huracán previewed ahead of unveiling – Autocar
Exclusive: Fiat Chrysler nearing U.S. diesel emissions settlement – source
FILE PHOTO: A Fiat Chrysler Automobiles (FCA) sign is seen at its U.S. headquarters in Auburn Hills, Michigan, U.S. May 25, 2018. REUTERS/Rebecca Cook WASHINGTON (Reuters) – Fiat Chrysler Automobiles NV (FCHA.MI) is nearing a settlement to resolve the U.S. Justice Department’s allegations that the Italian-American automaker used illegal software to allow 104,000 U.S. diesel… Continue reading Exclusive: Fiat Chrysler nearing U.S. diesel emissions settlement – source
Top Automotive Industry News for Week of December 24 – December 30, 2018
Here is the most important news associated with the automotive industry
identified by the AEA for the week of December 24, 2018 – December 30,
2018.
We hope it helps you stay up to speed on the key developments in our
industry:
-AEA Membership News-
The next AEA Members Reception will be held on Thursday January 24th,
2019 in San Francio. Invitations have been sent to all current AEA
Members. Annual AEA Member Dues renewal will occur on January 2 nd, 2019. If you have any questions, please contact
memberservices@automotiveexecutives.com
-Automotive Manufacturing News–Automotive Manufacturing News-
All the cars discontinued after 2018
(autoblog)
GM's mysterious filing could foreshadow future product that saves jobs
(Detroit Free Press)
GM's year of transformation: More robot cars, fewer traditional jobs
(Detroit Free Press)
Marchionne's death, Jeep Gladiator highlighted change at Fiat Chrysler
(Detroit Free Press)
New Land Rover Defender Coming to US in 2020
(The Detroit Bureau)
No car keys? No problem. Hyundai rolls out fingerprint technology that
makes keys as outdated as a landline
(CNBC)
Tesla expands employee testing of its upgraded Autopilot hardware
(autoblog)
Tesla Names Two New Board Members, Larry Ellison And Kathleen
Wilson-Thompson
(Forbes)
Which Cars Are You Most Excited to See in 2019?
(Car & Driver)
-Automotive Evolution News-
CES Is Apparently Going To Be Everything To Everyone When It Comes To
Mobility
(Forbes)
Daimler Delivers E-Truck to Penske for Testing
(The Detroit Bureau)
Volkswagen Testing New Portable EV Charging Stations
(The Detroit Bureau)
-Automotive Retail News-
5 Ways Auto Finance Will Change in 2019
(Auto Dealer Today)
Auto Sellers Try Out Amazon-Style Ordering
(MSN)
How electric cars are slowly moving from niche to something ‘people
want to buy’
(CNBC)
New-Vehicle Retail Sales Seen Dipping in December
(Auto Finance News)
Photo Finish For December Auto Sales Could Mean A Slight Gain For All
Of 2018
(Forbes)
Tesla Scrambles to Sell Cars Before a Tax Break Fades
(NY Times)
Will dealerships survive the future?
(Automotive News)
Year-End Turmoil Puts New Car Sales to the Test
(The Detroit Bureau)
-Automotive Wholesale News-
Used EV prices are finally heating up — a little
(Automotive News)
-Automotive Enthusiast News-
New owners and new venues for auction companies
(ClassicCars.com)
-General Business & Executive News-
A year of living badly
(Automotive News)
Analyst adds Ferrari, Penske to list of top auto stocks for 2019
(CNBC)
Automotive Minute: Disney’s Mary Poppins partnership is making magic
for Nissan
(BizJournals)
CarGurus Launches New Brand Campaign for 2019
(PR Newswire)
Five Ways 2018 Rewrote The Future of Transportation
(Forbes)
The 10 biggest auto stories of 2018
(autoblog)
The Year in Review: Automotive Winners and Losers
(Car & Driver)
Top auto stories from 2018 – and 3 to watch in ’19
(Detroit Free Press)
-AEA Reminder-
Did we miss something? Let us know via our
Contact Us Page >>
. If you have specific important news going public soon that you would like
to share with your fellow AEA Members, submit your
PR Distribution Request >>
Have a great week,
Member Services
memberservices@automotiveexecutives.com
Automotive Executives Association
www.automotiveexecutives.com
FCA Appoints Smiley to Global Purchasing and Supply Chain Chief
January 8, 2019 , Auburn Hills, Mich. – Fiat Chrysler Automobiles N.V. (“FCA”) (NYSE: FCAU / MTA: FCA) today announced that effective immediately Carl Smiley is appointed to the new role of Chief Purchasing & Supply Chain Officer. Smiley is also named to the company’s Group Executive Council (GEC), the highest operational body within FCA. Smiley… Continue reading FCA Appoints Smiley to Global Purchasing and Supply Chain Chief
Analyst adds Ferrari, Penske to list of top auto stocks for 2019
There is a lot of opportunity in auto dealers, says Consumer Edge analyst
5:08 PM ET Wed, 26 Dec 2018 | 02:48
Brands like Penske and Ferrari could be some of the top auto stocks to buy in the new year, Consumer Edge Research's Jamie Albertine told CNBC on Wednesday.
The automotive research analyst's recommendation follows his November call that higher used-car sales could extend into 2019 “in a major way.”
Carrying a high return on invested capital, or ROIC, Penske Automotive Group has begun moving into the used car retail business, he said. The Bloomfield Hills, Michigan-based company is looking to attract customers seeking value on the used car market, allowing Penske to compete with platforms like Carmax and Carvana, which Albertine said last month has taken advantage of an industry under pressure from tariffs and changing consumer tastes.
“Penske's getting into standalone used sales [with] a lot more force,” he said on CNBC's “Closing Bell,” adding that he has seen a “pivot” among consumers “from new- to late-model used vehicles as the off-lease supply comes back to market.”
Penske shares climbed 2.59 percent on Wednesday amid a marketwide surge, but the stock is down more than 16 percent for the year.
Italian luxury sports car manufacturer Ferrari's stock is another one to watch as the company ramps up production from the 9,000 units it makes annually to north of 14,000 a year, Albertine said. The company is planning to boost car production by as much as 55 percent over the next seven years, he added.
“From a brand perspective, [Ferrari has] one of the most protected customer-loyal brands in the history of luxury, broadly,” he said.
“So, again, focus on quality there, but also some key EBIT margin expansion [and] production expansion, over the … near to medium term,” he said, referring to earnings before interest and taxes, a corporate profitability measure.
Ferrari bounced from a 52-week low Wednesday morning and gained more than 2 percent intraday. The stock is down more than 6 percent from the start of 2018.
Albertine also mentioned General Motors as a stock to watch as the company makes progress in the autonomous vehicle sector with Cruise Automation. Shares of the embattled automaker rose 3.55 percent Wednesday, but have lost over 18 percent for 2018.