Today: Chrysler becomes British, Subaru results, Tesla trouble, more GM, and a dummy gets a ticket
- Marchionne Not Surprised by Drop in Fiat Stock – thedetroitbureau.com: After the day-long session during which Sergio Marchionne and other FCA executives reveal the newly merged automaker’s latest five-year plan, many observers wondered if the ambitious blueprint could be followed. Investors expressed their doubts as the stock price dropped about 9%.
- Marchionne to locate Fiat Chrysler headquarters in London – DetN: Fiat Chrysler Automobiles NV, the company that will be formed from the combination of Fiat SpA and Chrysler Group LLC, will be based in London, marginalizing Italy’s role for the automaker.
- Fiat Chrysler headquarters will be in London, Marchionne says – Automotive News: The headquarters of the newly merged Fiat Chrysler Automobiles will be moved to London, CEO Sergio Marchionne clarified on Thursday, cementing a politically sensitive shift away from Italy, Fiat’s home for the past 115 years.
- Marchionne: Auto industry may overcorrect on auto safety issues – DetN: Fiat Chrysler Automobiles CEO Sergio Marchionne said he’s concerned the auto industry will overreact to the scrutiny faced by General Motors Co. over its recall of 2.6 million cars for ignition switch defects.
- Jeep sales crucial to Fiat Chrysler plans – FT: As group seeks to boost profits and slash net debt, analysts fear that technical hitches or market conditions could put sales targets at risk
- US: Marchionne and FCA to have London HQ – Just-auto: The new company formed by the merger of Fiat and Chrysler, Fiat Chrysler Automobiles NV, is to be based in London according to reported remarks made by Fiat and Chrysler CEO Sergio Marchionne at a press conference in Auburn Hills.
- Subaru plans more U.S. capacity, unveils new technology – Automotive News: The maker of red-hot Subaru vehicles says it may expand annual capacity at its Indiana assembly plant to 400,000 units after 2017. It also plans to introduce of a new vehicle platform and more efficient fuel-injected engines.
- Fuji Heavy to stop making Camry in U.S. for Toyota in 2016 – Automotive News: Subaru parent Fuji Heavy Industries will stop making the Toyota Camry at its Indiana factory in the fall of 2016. Production will shift to Toyota’s plant in Kentucky.
- JAPAN: Record sales and profit for Subaru – Just-auto: Subaru maker Fuji Heavy Industries (FHI) posted record global sales and profits in the financial year to 31 March and is forecasting further growth in the coming business year.
- GM Recalls Some Sedans for Potential Brake Defect – WSJ: General Motors is recalling certain 2014 Buick LaCrosse and Chevrolet Malibu sedans, mostly in the U.S., for a potential brake defect that could increase the risk of crashes.
- GM recalls 8,000 ’14 cars for possible brake assembly glitch – DetN: General Motors Co. said Thursday it is recalling about 8,000 2014 Buick LaCrosse and Chevrolet Malibu sedans in the U.S. for possible brake problems.
- Missouri debates barring direct car sales in challenge to Tesla – Reuters: Missouri legislators are considering banning car makers selling direct to the public, in another challenge to Tesla Motors Inc’s push to bypass car dealers.
- Tesla faces new hurdle as Missouri weighs direct sales ban – Automotive News: Tesla Motors says its fight to sell electric cars directly to consumers faces a new hurdle as Missouri’s legislature is weighing a measure to bar its company-owned store system.
- Tesla shares fall 11% day after posting Q1 loss – Automotive News: Tesla Motors tumbled the most in more than five months after the electric-car maker reported a first-quarter loss and vehicle deliveries that trailed the highest analyst estimate amid constraints of battery supplies.
- JAPAN: New hand on the Mazda tiller as chairman retires – Just-auto: Mazda Motor Corporation chairman Takashi Yamanouchi’s term has expired and he will step down in favour of vice chairman Seita Kanai.
- Kia’s UK unit is recalling 5,787 Sportage and 1,432 first generation Soul vehicles due to a possible fault with the vehicle’s seat belt pre-tensioner.
- Obama to tout renewables, announce solar panel back at the White House – LA Times: President Obama will promote his record on energy efficiency on Friday by touting several initiatives he says are taking hold across the country – as well as the completion of one very close to home.
- BMW M2 coupe spotted testing for the first time – Autocar: First spy pictures of BMW’s long-awaited M2 show development is under way, with the car expected to launch next year.
- Has turbocharging dented the driver appeal of the new BMW M3 and M4? – Autocar: Lifelong M3 fan Sutters has tested the new M3 and M4, and wonders whether turbocharging was the right way to go.
- New Rolls-Royce Wraith Convertible spotted – Autocar: Open-top Rolls-Royce Wraith in development ahead of a likely debut at next year’s Geneva motor show; expected to launch later in 2015An open-top version of the Rolls-Royce Wraith coupé has been spied testing for the first time ahead of its likely launch at the Geneva motor show next March.
- Hyundai, Honda execs prepared for more scrutiny on safety – Automotive News: GM’s ignition switch controversy inevitably will lead to greater regulatory scrutiny of auto safety defects, top executives from Honda and Hyundai say.
- Ford’s 3-cylinder EcoBoost engine off to fast start – DetN: In just a few short months, Ford Motor Co.’s 1-liter, three-cylinder EcoBoost engine is beating the automaker’s initial U.S. expectations despite limited offering.
- Toyota move yields political fallout in Calif. – Automotive News: Toyota’s decision to move its North American headquarters to Texas is causing political fallout in California.
- IRAN: Peugeot visit sends powerful signal to other investors: IKCO – Just-auto: Iran Khodro (IKCO) says the recent visit by Peugeot CEO, Maxime Picat, sends a strong signal to other potential investors Tehran is open for business again
- Driver Is Cited for Using Dummy in Carpool Lane – NY Times: A commuter heading into Boston had a real dummy along for the ride.