Top News:
- Fiat Chrysler Q3 adjusted earnings rise 29 percent, recall costs weigh – Automotive News: Fiat Chrysler Automobiles today reported a 29 percent rise in third-quarter adjusted operating profit and raised its full-year guidance, but…
- GM’s Q3 net more than doubles to $2.77 billion – Automotive News: General Motors today said its net income more than doubled to a third-quarter, post-bankruptcy high of $2.77 billion, as its focus on retail sales in the U.S. bolstered transaction prices.
- GM doubles net income in Q3 – Just-auto: General Motors has reported a doubling of net income in the third quarter to US$2.8bn (up 104% and a new record) as it continued to benefit from strong truck demand in the US as well as buoyant vehicle sales in China.
- Fiat Chrysler earns $659 million profit in 2016 third quarter – Freep: Fiat Chrysler Automobiles said Tuesday it earned a profit of $659 million (606 million euros) during the third quarter as its net income improved in…
- General Motors third-quarter earnings widely beat expectations – Reuters: General Motors Co reported much higher-than-expected third-quarter earnings on strong North American truck and SUV sales, blowing past fears that a U.S. market slowdown would dent profitability.
- Bill Ford says future of cars is in Detroit, not Silicon Valley – Automotive News: Bill Ford is tired of hearing the future of cars belongs to Silicon Valley. Yet for years, the Apple and Google crowd have been telling him that only Big Tech can make driverless vehicles.
- Fiat Raises 2016 Profit Target as Jeep Demand Boosts Margins – Bloomberg: Fiat Chrysler Automobiles NV raised its 2016 profit forecast for the second time this year, boosting the target after third-quarter earnings jumped 29…
- BRIEF-Fiat Chrysler reports record third quarter results – Reuters: Fiat Chrysler Automobiles NV reports record third quarter results with adjusted EBIT of EUR 1.5 billion, up 29%, adjusted net profit of EUR 740 million …
- Why did Tata Sons board sack Cyrus Mistry? – Just-auto: The sudden dismissal of Cyrus Mistry as chairman of the board of Tata Sons has led to much speculation about why he was ousted. Reports in the Indian media mostly centre on the belief that the group’s board had become unhappy with Mistry’s initiative of downsizing the conglomerate by aggressively disposing of unprofitable businesses.
- VW opens Poland plant to produce new Crafter CV – Just-auto: Around 1,000 guests from politics and business as well as representatives from the workforce and unions – from Poland and Germany – met together with members of the Board of Management of the Volkswagen Group and its brands to officially open the automotive plant at Wrzesnia, Poland, that will bededicated to production of the new Crafter commercial vehicle.
- Skoda establishes ‘digital lab’ in Prague – Just-auto: Skoda says it is strengthening its innovative power and digital development expertise by establishing a digital lab in Prague. Creative teams will be exploring and developing new business models in the innovative ideas workshop.
- NHTSA proposes motor vehicle cybersecurity guidance – Just-auto: The US Department of Transportation’s National Highway Traffic Safety Administration (NHTSA) says it is taking a proactive safety approach to protect vehicles from malicious cyber-attacks and unauthorised access by releasing proposed guidance for improving motor vehicle cybersecurity.
- Bill Ford tells Silicon Valley the future of cars is in Detroit – Automotive News: Bill Ford: “The old conversation I used to have was, ‘You guys are going to end up being the handset, you’re going to be low-margin assemblers of…
- LendingClub’s New Pitch? Refinance Your Pricey Car Loan With Us – Bloomberg: On Tuesday, it said it will start refinancing car loans at interest rates that … Vehicles must be less than 7 years old and have fewer than 80,000 miles on…
- Hyundai group execs to take 10 percent pay cut – Automotive News: Hyundai Motor Group said about 1,000 of its executives will take a 10 percent pay cut, the first such move in seven years at South Korea’s…
- Cyrus Mistry files four caveats against Tata trusts: media – Reuters: Cyrus Mistry, the ousted chairman of India’s Tata Sons [TATAS.UL], has filed four caveats against Ratan Tata and Dorabji Tata Trust at the National Company Law Tribunal, news channel CNBC TV18 reported on Tuesday.
- Renault and Nissan to Fuel ‘Connected Cars’ Push With Tech Hiring Spree – WSJ: Renault, Nissan and other auto makers are racing to offer software services for so-called connected cars that would allow users to do things like…
- Jaguar Land Rover parent Tata Sons ousts chairman Cyrus Mistry – Autocar: Ratan Tata, pictured third from the right, is Tata Sons’ interim leader
- Nissan-Renault says open to partnerships to develop new car technologies – Reuters: Nissan Motor Co Ltd and Renault SA are open to partnerships with other companies to equip their vehicles with sophisticated technology as automakers race to develop the cars of the future, the pair’s connected vehicles chief said.
- Volkswagen Polo GTI to be launched in India in November; expected price, specs and more – Ibtimes: German car-maker Volkswagen is reportedly set to bring the powerful hatch, the Polo GTI to India as early as in November. If the emerging reports are…
- Uber’s Otto hauls Budweiser across Colorado in self-driving truck – Reuters: In the first real-world commercial use of autonomous trucking, some 45,000 cans of Budweiser beer arrived late last week to a warehouse after traveling over 120 highway miles in a self-driving truck with no driver at the wheel, executives from Uber [UBER.UL] and Anheuser-Busch said.
- Silicon Valley Decides It’s Just Too Hard to Build a Car – Bloomberg: Bill Ford is tired of hearing the future of cars belongs to Silicon Valley. Yet for years, the Apple and Google crowd have been telling him that only Big…
- 2017 Chevrolet Corvette ZR1 – 700bhp supercar is last front-engined ‘Vette – Autocar: Track-focused supercar will have a fixed rear wing and lightweight wheels; will be a rival to the Porsche 911 GT3
- Ford cements IACMI status with US$5m letter of intent – Just-auto: Ford is to become a charter member of the Institute for Advanced Composites Manufacturing Innovation (IACMI) with a US$5m letter of intent, which it is maintained, will leverage Federal, State and industry investment totalling US$250m.
- Nissan’s Ghosn aims to transform expanded alliance into top global player – Nikkei: After a few years of keeping a low profile, Carlos Ghosn is back in the media spotlight. The go-getting chief executive of the Renault-Nissan…
- VW, BMW, Ford, Nissan seek Africa car-industry fixes with state talks – Automotive News: Volkswagen, BMW, Ford and Nissan are among automakers seeking to work with Kenyan authorities to develop an…
- Rolls-Royce Dawn turns to fashion for new special edition – Autocar: Inspired by Fashion combines stark colour contrasts with silk elements; it’ll be available to order from November
- Samsung and Hyundai Troubles Weigh on South Korea’s GDP – Fortune: “When you take away the effects from Samsung and Hyundai, third-quarter growth was considerably better than expected,” said Chung Kyu-il,…
- Tata management shake-up could slow group’s debt reduction process – Reuters: Tata Sons’ shock move to oust Cyrus Mistry and his core team of advisors and bring back Ratan Tata as chairman of the salt-to-software conglomerate could lead to delays in the group’s bid to reduce its debt load across its businesses, analysts say.
- Hydrogen entrepreneurs at the forefront of the clean car revolution – Guardian: Hydrogen fuel cell electric vehicles (FCEVs) are emissions free, can match the performance of regular cars and are set to become increasingly…
- Hyundai Motor unveils all new Grandeur in media preview – Yonhap: Hyundai Motor Co. offered a brief glimpse at the latest version of its flagship sedan the Hyundai Grandeur in a media…
- Survival of the Fittest Hurts Mazda and Subaru – Bloomberg: There’s a lot to be said for that: Mazda’s expertise in building affordable sedans and nippy sports cars would make a nice complement to Subaru’s…