“Nissan counts more on female members than the rest of the industry,” Nissan/Renault CEO Carlos Ghosn said today in front of 260 new female team members, assembled at Nissan’s headquarters n Yokohama. They are the vanguard of a wave of women to become the faces of Nissan dealers across Japan. [Continue Reading]
- US: Former PR executive claims Ford bugged his telephone – Just-auto: Former Ford PR chief Jason Vines, a key lieutenant of CEO Jacques Nasser at the time, says the company bugged his telephone during the company’s 2001 Firestone tyre crisis.
- Toyota sells part of its Tesla stake – FT: Japanese carmaker banks on fuel cell vehicles over electric to drive growth
- JAPAN: Nissan recalls 260,000 cars globally over Takata airbags – Just-auto: In the latest development in the Takata airbag saga, Nissan Motor said it is recalling 260,000 vehicles globally due to a defect in driver-side air bags made by the supplier.
- Takata’s airbag crisis may spur automaker shift to Autoliv, Daicel – Automotive News: The defect in Takata airbags that has led to millions of recalls and has been linked to four deaths in Honda cars opens the supplier to risk of losing business to rivals including Autoliv and Daicel.
- MEXICO: Mazda starts 2 production at MMVO – Just-auto: Production of the redesigned Mazda 2 (Demio in Japan) has started at the automaker’s new plant in Mexico.
- UK: Mazda aims for new-look dealers by March – Just-auto: Mazda UK plans on completing installations of the brand’s new visual identity at 80% of its 136 outlets by next March.
- Kia Motors blames slowdown on strong won – FT: S Korean carmaker flags possible interim dividend to placate investors
- U.S. Auto Sales Fuel GM Earnings – WSJ: General Motors reported a 14% drop in its third-quarter profit but beat analyst expectations as strength in North America offset weaker results in other regions of the world.
- Profit Doubles at G.M., as It Strives to Move Past Its Litany of Recalls – NY Times: The nation’s largest automaker nearly doubled its profit from a year ago, benefiting from wider margins in North America.
- GM’s Finance Unit Receives Additional Subpoenas – WSJ: General Motors Co. said its GM Financial lending arm received additional investigative subpoenas in September from government officials relating to its subprime auto finance business and how it securitizes those loans.
- NHTSA’s botched airbag recall leaves car owners in dark – Automotive News: NHTSA botched its effort to inform the public about a potentially lethal airbag defect, directing 8 million consumers to an inoperable website and leaving millions of others unsure as to whether their cars were even at risk.
- Audi Recalls 850,000 Cars Over Airbag Software Flaw – NY Times: The recall of the 2013-15 A4 model includes about 102,000 cars in the United States, and the company said it had no reports of related accidents.
Steve St. Angelo, jefe of Toyota’s Latin American operations, poured more cold water on widely reported, and then strongly discounted news of building a plant in Mexico. Lunching with a small group of reporters at Toyota’s swank Kioi Club yesterday, he said that as much as he would like more capacity in South America, a plant in Mexico is “far from an approved project.” [Continue Reading]
Lexus launched the stylish RC and its performant brother, the RC F onto the U.S. market a while ago. Today, it came home to Japan. Compared to the lavish U.S. festivities, the Japanese “reveal” was a low=-key affair: A red RC 300h,and a blue RC F were put in the lobby of Toyota’s Tokyo HQ, a few speeches, a photo-op, arigatou gozaimas, that was it. Actually, it was a teeny bit more festive than the usual extremely frugal JDM launches. [Continue Reading]
GM posts $1.38 billion Q3 net income on flat revenue - Automotive News: General Motors' third-quarter net income rose to $1.38 billion, as stronger pricing in North America and record China sales helped offset weak demand in Russia and … [Continue reading]
In my most recent post at Bloomberg View, I draw a connection between Michigan's new law blocking Tesla's direct-sales model and the interests of the automakers based there. General Motors has taken the lead among Michigan's automakers in opposing … [Continue reading]
The Tesla stock has been – until September – a Wall Street darling, never mind that S&P had taken a decidedly contrarian view by slapping Tesla’s debt with a junk rating. When S&P did that, the rating agency figured “that the company is less … [Continue reading]
Yesterday’s news that Daimler sold its 4 percent stake in Tesla weighed on the already beaten down stock of the electric carmaker. Daimler on the other hand is all smiles, having turned a $50 million initial investment into a cash flow of $780 … [Continue reading]