Top News:
- Grand Jury Looking into FCA Sales Reporting Scandal – Detroit Bureau: A federal grand jury is issuing subpoenas as government investigators expand their investigation into potentially illegal Fiat Chrysler Automobiles sales reporting practices, according to published reports. But the government could find similar practices across the auto industry, reports TheDetroitBureau.com.
- Mitsubishi Motors’ Q1 operating profit tumbles 75% after mileage-cheating scandal – Automotive News: Mitsubishi Motors reported a 75 percent plunge in fiscal first-quarter operating profit as domestic sales slumped after it admitted to overstating the fuel economy of some of its vehicles.
- FCA realigns it global manufacturing footprint – OEM Update – Just-auto: One of the busiest manufacturers in terms of re-aligning its global manufacturing footprint is FCA. Some extraordinary developments are said to be taking place, and this includes an apparent decision to shift two future crossovers out of Mexico and into Italy.
- UAW Secures Promise from Clinton to Re-Work NAFTA – Detroit Bureau: The United Auto Workers have a commitment from Democratic Presidential nominee Hillary Clinton to review provisions of the North American Free Trade Agreement. Find out more at TheDetroitBureau.com.
- FCA boosts 2016 profit target as Jeep fuels Q2 rise – Automotive News: Fiat Chrysler Automobiles raised its 2016 profit forecast after earnings in the second quarter rose 16 percent on robust demand for Jeep SUVs.
- Elon Musk Says It’s ‘Pencils Down’ for Tesla’s Model 3 – Bloomberg: If he’s right, the economics of electric cars will flip, as will the case for battery-backed solar power. Here’s Bloomberg New Energy Finance estimates…
- Tesla drops Mobileye in wake of Autopilot issue – reports – Just-auto: Tesla is reportedly dropping Mobileye, a supplier to its Autopilot partial self-driving system, in the wake of an accident that killed a Tesla driver in May.
- Tesla Gigafactory – more details, plus possible European plans – Autocar: Tesla’s Elon Musk has revealed more details about the new factory in Nevada, as well as suggesting plans for Europe
- More details of GM-Isuzu light truck split surface – Just-auto: More details have emerged of the ending of the long-standing joint venture between General Motors (GM) and Isuzu Motor to co-develop largely Asian-made pick-up trucks, according to reports in Japan citing Isuzu company sources.
- Inside Tesla’s $5 billion Gigafactory for Model 3 cars – CBS News: A new federal report found a self-driving Tesla car was speeding before a deadly crash in Florida three months ago. The NTSB’s preliminary review…
- Nissan Profit Falls as Yen, Mitsubishi Motors Scandal Bite – WSJ: Nissan said that its first-quarter net profit fell nearly 11% on the impact of a stronger yen and as a fuel economy scandal hit sales of vehicles supplied by Mitsubishi Motors.
- Nissan quarterly profit down 11% on stronger yen – Just-auto: Nissan said operating profit for the quarter was 175.8bn yen, 9.2% down on last year. However, it says the figure increases by 38% to 267bn yen if the…
- 2017 Porsche Panamera Sport Turismo to be revealed in Paris – Autocar: Shooting brake Panamera will be previewed at Paris motor show ahead of its 2017 arrival
- VW emissions scandal: $14.7 billion settlement gets initial approval in US – Autocar: Volkswagen will buy back or fix 475,000 cars in the US, and all owners are set to get compensation of up to $10,000
- Samsung minority stake in BYD confirmed – Just-auto: China’s BYD has confirmed Samsung Electronics had completed the acquisition of a 1.92% stake in the electric vehicle manufacturer for CNY3bn (US$450m).
- Toyota Australia launches Euro 5 diesel Hiace vans – Just-auto: Toyota Australia has revised its diesel-powered HiAce range to improve fuel economy in the city while meeting stricter Euro 5 emissions standards.
- Elon Musk’s Tesla Ambitions Keep Growing — And So Does The Price Tag – Forbes: A week after unveiling a new strategic plan that includes everything from electric buses and semi-trucks to driverless car-sharing networks and solar…
- Sputtering Car Sales Pose a Risk to U.S. Retail Momentum – Bloomberg: Two charts on U.S. consumption from CreditSights Inc. show just how damaging trouble in the auto industry can be. As you can see from the chart…
- For 2017, the Audi A4 Has Undergone a Stealth, Stellar Makeover – Bloomberg: This is the $37,300 car that you might consider against BMW’s $33,150 3 Series and Mercedes’s $38,950 C-Class. (The $34,900 Jaguar XE isn’t quite…
- 2017 Honda Accord Hybrid: A Refreshed Challenger Has Arrived – Forbes: The Honda Accord gets 49 MPG in the city? I’ve been a big fan of the popular mid-size sedan for years, but I never considered it a viable rival to the…
- 2018 Mercedes-Benz G-Class – new spy pictures – Autocar: Camouflaged test mule’s wider body suggests new G-Class will have a roomier cabin; E-Class’s six-pot diesel also likely to be added
- Morgan EV3 UK 1909 Edition revealed – new video – Autocar: Special edition all-electric three-wheeler made in partnership with Selfridges will make its debut at the Salon Privé concours d’Elégance in September
- Hyundai global car sales fall in June quarter, operating profit marginally rises – Ibtimes: Hyundai Motor Co. posted a 3 percent fall in its June quarter net profit, making it the 10th straight quarterly decline, as tough competition in Korea,…
- PSA records H1 net income doubling to EUR1.2bn – Just-auto: PSA Groupe has posted half year net income doubling to EUR1.2bn (US$1.32bn), although Group revenue fell marginally from EUR28m to EUR27.8m.
- Aviation History’s Warning to Self-Driving Car Makers – WSJ: Reducing risk when introducing autonomous-driving vehicles means taking time to allow the technology to mature and providing rigorous training for operators, say aviation safety experts.
- Electric car economics are showing some sparks – CBS News: Pushed by federal regulations, automakers are spending billions to develop new all-electric cars. But with gas prices staying relatively low, consumers…
- New Astra Sports Tourer & future Opel/Vauxhalls – Just-auto: Vauxhall can’t seem to catch the Focus and Golf but the addition of the new estate is giving the griffin logo brand a strong sales boost, the Astra pulling past the VW Polo in June to become the UK’s sixth best selling model.
- Mobileye Q2 net income soars 75% to US$27m – Just-auto: Mobileye has recorded second quarter net income up 75% to USPS27m, from US$15.3m in the same period last year.
- VW’s Skoda Auto says H1 deliveries reach record 569400 – Reuters: VW’s Czech unit Skoda Auto says H1 deliveries reached 569,400, best first half in company history. * H1 increase of 4.6 percent year-on-year.
- Nissan profit declines 9% as stronger yen hit earnings – Automotive News: YOKOHAMA, Japan – Nissan Motor Co. reported a 9.2 percent slide in global operating profit in the latest quarter as foreign exchange losses bit hard…
- Nissan Q1 operating profit drops 9.2 pct as currency impact weighs – Reuters: YOKOHAMA, July 27 Nissan Motor Co. reported a 9.2 percent fall in operating profit for the first quarter, its first year-on-year decrease in five quarters, …
- Mercedes Challenges Tesla With Its Own Electric-Truck Promise – Bloomberg: “Until now, there were extremely few commercial vehicles with electric powertrains,” Wolfgang Bernhard, head of the Daimler Trucks division, said in a…
- Peugeot posts record earnings despite sales dip – Reuters: … on his turnaround plan for the maker of Peugeot, Citroen and DS cars. … auto division profit, based on the median of 12 estimates in a Reuters poll.
- A kill switch holds key to used-car loans in Africa – Nikkei: A Japanese used-car exporter aims to spur growth in the African market by introducing an auto loan service that offers easy approval but in…
- Nissan Profit Declines 11% on Stronger Yen, Japan Deliveries – Bloomberg: Nissan Motor Co. posted a 11 percent drop in quarterly profit as a stronger yen eroded overseas earnings and domestic sales of minicars supplied by…
- Nissan Profit Falls 11% as Yen Gains – WSJ: YOKOHAMA, Japan- Nissan Motor Co. … Nissan and other Japanese auto makers earn most of their money selling cars abroad, but report earnings…
- PSA Profit Jumps 32% as French Carmaker Downplays Brexit Impact – Bloomberg: PSA, which relies on Europe for most of its sales, is the carmaker most exposed to the fallout if economic uncertainty sends British car sales plunging,…
- Tesla Motors, Mobileye Announce Breakup Ahead Of Gigafactory Opening – Ibtimes: Tesla Motors’ sprawling Gigafactory, the $5 billion battery production facility being built in Nevada, touted to be the world’s largest building by physical…