- US: Federal government wants to “supervise” nonbank auto lenders – Just-auto: The US Consumer Financial Protection Bureau (CFPB) said it plans to oversee larger nonbank auto finance companies for the first time at the federal level after claiming to have uncovered “auto-lending discrimination” at banks.
- Bentley Sees $272000 Cars Facing Mounting Competition in Korea – Via Google News: The carmaker will start deliveries of the two-seat Continental GT3-R high-performance car and the Mulsanne Speed, the sporty version of its flagship …
- Hyundai Outbids Samsung in $10 Billion Trophy Property – NY Times: Hyundai Motor will use the site for its new headquarters in Seoul’s high-end Gangnam district. The price raised investor concerns that it was wasting cash.
- Peugeot reveals 493bhp hybrid SUV concept – Autocar: French firm shows off its vision of a high-performance SUV which features a plug-in hybrid powertrain and radical design.
- At Sputtering Ferrari, Shake-Up at the Top Could Change Tradition – NY Times: Ferrari’s tradition of selling road cars to support the racing operations could change after an upheaval among the top management of the iconic Italian company last week.
- Honda, Chevrolet give natural gas a push for U.S. drivers – DetN: Two automakers are making another run at selling compressed natural gas, or CNG, cars in the U.S., eyeing a market in commuters and efficiency-minded drivers.
- Toyota to boost Mexico truck plant capacity by almost 40% – Automotive News: As Toyota ponders its first full assembly plant in Mexico, it plans to boost capacity at its existing factory there almost 40 percent to feed demand for trucks.
- Tesla Sees Fully Autonomous Car on Horizon – WSJ: Tesla Motors’s Chief Executive Elon Musk said the technology for a fully autonomous car could be ready in five or six years, and the result will be a vehicle far less likely to harm occupants and others on the road.
- CFPB proposes rule to supervise large auto finance companies – Washington Post: The Consumer Financial Protection Bureau on Wednesday proposed bringing the financing units of the big automakers under federal supervision for the first time, a move that would ultimately let the agency examine the lending arms of Toyota, Ford and Honda.
- Ram Trucks Gain on Their Detroit Rivals – NY Times: The Ram truck division is increasing market share with an emphasis on fuel economy and upgraded interiors.
- UAW Proposes to Negotiate for VW Workers in Tennessee – WSJ: United Auto Workers union is seeking to negotiate on behalf of some Volkswagen U.S. employees despite being rejected in an organizing vote earlier this year, citing support of hourly workers at VW’s Chattanooga, Tenn., plant.
- CFPB finds discrimination in auto lending at banks, looks to oversee captives – Automotive News: The nation’s consumer finance regulator found discrimination against minority borrowers at several unnamed banks tied to dealer discretion in setting dealer reserve, the share of the customer’s interest rate that dealerships earn for negotiating a…
- Auto lenders face tougher US supervision – FT: Agency estimates about 38 companies, which originate 90 per cent of nonbank auto loans and leases, would fall under the proposal
- Volkswagen shows off go-faster Polo GTI ahead of Paris debut – Autocar: Revised hot supermini gets a power hike to 189bhp and 236lb ft and is now available with a six-speed manual gearbox.
- UPDATE 1-US consumer bureau proposes scrutiny of non-bank auto lenders – Via Google News: The U.S. Consumer Financial Protection Bureau already oversees banks that issue car loans and has raised concerns about their lending practices, …
- Ford and Lincoln get connected with Apple’s Siri – Automotive News: After years of negative customer reviews of its in-car voice-recognition technology, Ford may solve some of its lingering issues by partnering with Automatic Labs.
- Lightweight Renault Eolab Concept Achieves 235 MPG – Via Google News: The Renault Eolab name comes from the combination of Aeolous (the god of Wind) and the word Laboratory, and the car is expected to make a huge …
- Tesla argues New Jersey regulators can’t stop direct sales – Automotive News: Tesla Motors, in a court filing submitted Tuesday, argued that New Jersey regulators have no authority to shut down direct sales at the electric-vehicle maker’s stores in the state.
- Engineers Group Says GM Holden Layoffs Costly to Oz – Wards: “With very few jobs on the local landscape, we run the very big risk of a significant ‘brain drain’ as these (engineers) are forced to go overseas for work,” union official Sharelle Herrington says.
- Ford seeks younger Mustang buyers with tech features – Automotive News: The 2015 Ford Mustang arrives in dealerships next month as Ford’s most technology-laden pony car yet. The fastback model will arrive first, followed by the convertible later in the fall.
- N.H.T.S.A. Posts Recall of 25,000 Fiat 500L Models – NY Times: The agency also announced it was opening an investigation of Ford Fiesta door latch problems.
- IHS hikes 2014 U.S. auto sales forecast to 16.4 million – Automotive News: U.S. auto sales, buoyed by increasing consumer confidence and cheap financing, are rising faster than expected and will reach 16.4 million this year and climb to 17.4 million in 2017, consultant IHS Automotive said today.
- Audi claims first California autonomous driving permit – Automotive News: Volkswagen’s Audi unit is the first automaker to receive an autonomous driving permit in California, as new laws in the state governing the process went into effect on Tuesday.
- Autoline Daily – Wards:Renault’s Super Efficient Concept, Take Caution With Tesla, 2015 VW Jetta
- Testing of next-generation Mercedes-Benz E-class begins – Autocar: German manufacturer starts work on the fifth-generation of its executive car in preparation for an anticipated launch in mid-2016The next-generation Mercedes-Benz E-class has been spied testing for the first time, about 18 months before it is expected to go on sale.
- Apple Watch Declared a Highway Safety Threat – thedetroitbureau.com: It is meant to be hip and convenient, but is the new Apple Watch also a threat to safety? That’s the concern raised by a major auto safety group, and by British regulators who say that, under certain circumstances, using a smartwatch could lead to two years in jail. · AUSTRALIA: GM Holden starts axing engineers – report – Just-auto: Although there are three years until production in Australia ends, General Motors’ Holden is preparing to sack half its local engineering workforce – 300 people.