- Tesla, Panasonic agree to team on U.S. gigafactory – Automotive News: Tesla Motors and Panasonic have agreed to cooperate on the construction and operation of the American carmaker’s so-called gigafactory, its envisioned large-scale battery manufacturing plant in the United States.
- Volkswagen 2nd quarter profit up but revenue slips – DetN: Germany’s Volkswagen, Europe’s biggest automaker, says its net income rose 14.1 percent in the second quarter although revenues slipped even as unit sales pushed higher.
- VW profit falls in Q2 amid emerging-market troubles – Automotive News:Volkswagen said operating profit declined 3.1 percent in the second quarter as U.S. sales fell and emerging-market volatility weighed on earnings.
- Panasonic to Help Build Tesla Battery Plant – WSJ: Panasonic will invest in equipment and machinery for a battery joint venture with electric car maker Tesla Motors, but didn’t say how much it will invest in the project.
- Panasonic confirms will invest in $5 billion Tesla battery plant – Reuters: Panasonic Corp confirmed on Thursday it would invest in U.S. electric carmaker Tesla Motors Inc’s planned $5 billion lithium-ion battery plant in the United States, but said it had yet to decide on the size of its investment.
- Has the Auto Industry Peaked? – Via Google News: Growing evidence suggests that the automobile industry is about to pause/peak, just like the housing market did 12 to 18 months ago. Few observers …
- Tesla says £3bn gigafactory will revolutionise EV battery production – Autocar: Tesla confirms deal with Panasonic to collaborate on new gigafactory, as the company works towards its target of selling 500,000 cars per year by 2020. Tesla has released new details of its gigafactory manufacturing plant in the US, saying the site will represent a “fundamental change” the way batteries are produced for electric vehicles.
- Driverless cars will ruin the thrill of driving – Via Google News: I thought about that article this week when I heard the news that the driverless car will finally be unleashed on our roads from January.
- The vagaries of Range Rover’s ‘claimed’ Nurburgring lap time – Autocar: Range Rover is claiming to have set a new lap record for sports-utility vehicles at the Nürburgring with its Sport SVR. Which means what, exactly
- Ford CEO on Capitol Hill urging tough line on currency – DetN: Ford president and CEO Mark Fields on Wednesday urged Congress to take a tough line on currency manipulation and said the naming of a new chief of its luxury Lincoln brand shows the Dearborn automaker is committed to the brand.
World’s largest automakers 2014: Toyota first, Volkswagen second, GM third. And this is how the year is going to end – probably
The world’s largest automakers have handed in their production numbers for the first half of the year. As predicted, the race is tight. However, the rankings have not changed. Six months into the year, Toyota is well ahead of number two Volkswagen, with GM only 50,000 units behind in number three. The stats are deceiving, and GM’s chances to get to the number two spot by year end are next to nil. [ Continue Reading...]
- Shanghai GM to Launch Cadillac ATS-L on August 15 – GM: Shanghai GM has announced that it will launch the Cadillac ATS-L luxury sport sedan on August 15.
- CHINA: Toyota’s subsidiary TMCAP starts production of CVTs – Just-auto:Toyota’s (TMC) vehicle powertrain production subsidiary in Changshu, China, Toyota Motor (Changshu) Auto Parts (TMCAP), has held a ceremony to officially mark the start of localised production of continuously variable transmissions (CVTs), which is a first for Toyota outside Japan.
- ITALY: Rome mulls new car sales incentives – Just-auto: Car sales in Italy, growing at half the overall pace of the rest of the EU, could be boosted by tax incentives, according to news agency reports.
- US: GM faces lawsuit from alleged ignition switch victims – Just-auto: GM faces a lawsuit filed on behalf of 658 people who it is alleged either died or were injured due to the automaker’s ignition switch defect.
- Hyundai recalling 889,000 Sonata cars in U.S. – DetN: Hyundai Motor Co. said Wednesday it is recalling nearly 889,000 Hyundai Sonata cars in two separate recalls because they may roll away after being parked or may have braking issues.
- US: Ford looks at plug-in EVs talking to energy firms – Just-auto: Ford says it is collaborating with seven global automakers and 15 US utilities to develop technology that would allow plug-in electric vehicles to exchange messages with energy providers.
- Fiat reports fall in Q2 profit – Automotive News:Fiat, preparing for shareholders to vote on its merger with Chrysler Group in two days, reported a fall in second-quarter operating profit as a better performance from its luxury brands and its Asia and European operations failed to offset weak…
- Fort Wayne GM plant lacks parts, cancels shifts – DetN: An auto parts shortage has caused the cancellation of several shifts at the General Motors truck assembly plant in Fort Wayne.
A year ago, Ford execs all the way to Mulally riled against a weaker yen, saying it gives Japanese automakers an unfair advantage. Indeed, when the abnormally strong yen came back to acceptable levels later in the year, profits of Japanese automakers surged. That party appears to be over. Yesterday, Nissan reported no appreciable currency effects on its earnings. Today, Honda reported same. [ Continue Reading...]
Honda's quarterly profit up on Asian sales growth - DetN: Honda's quarterly profit surged nearly 20 percent on demand for remodeled cars in Japan and elsewhere in Asia. The Japanese automaker also raised its full-year profit and sales … [Continue reading]
Champs Tesla and Google are chumps in China: Model S sans sat nav, China closed to self-driving cars
For years, Detroit has produced very little to be proud of. In search of the all-American auto hero, journalists and Wall Street alike turn to Tesla and Google. Both are very light on unit sales, but big on lofty promises. Tesla promises to save the … [Continue reading]
Nissan presented a stellar quarter today to the media assembled at the Yokohama headquarters. Forex gains had a big impact on the earnings of Japan’s automakers in the past quarters. Not this time, at least not at Nissan. … [Continue reading]
US: NHTSA probes into Dodge Chargers, Hyundai Sonatas and Isuzu trucks - Just-auto:Following several complaints of defects, the National Highway Traffic Safety Administration (NHTSA) is probing Dodge Chargers, Hyundai Sonatas and Isuzu … [Continue reading]