Top News:
- Howes: Do fat auto profits herald new normal for Detroit? – Detroit News: Marchionne: “Be very careful not to fall in love with these numbers in terms of what the machine can do at all times”
- Subaru parent’s operating profit jumps 70% on surging U.S. sales – Automotive News: Japan’s Fuji Heavy Industries, the maker of Subaru cars, posted a 70 percent jump in quarterly operating profit as sales continued to climb in the United States, its biggest market, and a weak yen boosted the value of earnings overseas.
- German court says VW offer price too low for MAN SE minorities – Reuters: MAN SE’s minority shareholders may win higher cash compensation from Volkswagen after a court on Friday ruled the parent has to raise the price for the rest of the company.
- BRAZIL: VW Up TSI makes debut in Brazil before Europe – Just-auto: The launch of Volkswagen’s Up TSi powertrain option is the first time Brazil has produced a car more advanced, in engine technology, than its sibling marketed in Europe.
- CHINA: Chery spearheads nation’s auto export drive – Just-auto: China’s Chery Automobile said it exported 50,130 vehicles in the first half of 2015, more than 25% of all Chinese vehicle exports in that period.
- Cadillac Buyers Balk at $500 a Month When They Can Lease a BMW – Bloomberg: Cadillac sales fell 1.5 percent in the first half of the year when the luxury segment is booming. Sales at Audi, BMW, Lexus and Mercedes-Benz are all…
- BMW Revamps China Marketing to Focus Less on Status – Bloomberg: BMW AG will increase spending on online marketing in China and emphasize its technology as part of efforts to target younger buyers, who care more…
- BMW working on new 400bhp quad-turbocharged diesel engine – Autocar: The new performance-orientated oil-burner is planned to get its first airing in a newly created 7 Series M750d model planned for launch in 2016.
- Volkswagen Must Raise Payout for MAN Investors to 90.29 Euros – Bloomberg: Volkswagen AG must pay MAN SE minority shareholders 90.29 euros ($98.84) per share, a 12 percent increase from the 80.89 euros offered two…
- BRIEF-Honda: new Brazil car plant to start slightly later than planned – Reuters: Honda Motor Co Executive Vice President Tetsuo Iwamura says:
- Honda Q1 net profit up 20 pct on robust US sales, weak yen – Reuters: Honda Motor Co said on Friday its quarterly net profit grew 20 percent, beating estimates as strong sales in North America, its biggest market, and a weak yen helped it absorb the impact of higher quality-related costs.
- RPT-Pininfarina says still hoping to agree sale to Mahindra – Reuters: Troubled Italian car designer Pininfarina is still hoping to clinch a sale to Indian vehicle maker Mahindra and Mahindra but has begun drafting a stand-alone business plan as its financial position worsens.
- Hacked Jeep Cherokee Exposes Weak Underbelly of High-Tech Cars – Bloomberg: The Jeep Cherokee brought to a halt by hackers last week exposed wireless networks as the weakest link in high-tech vehicles, underscoring the…