- GM posts $1.38 billion Q3 net income on flat revenue – Automotive News: General Motors’ third-quarter net income rose to $1.38 billion, as stronger pricing in North America and record China sales helped offset weak demand in Russia and other troubled overseas markets.
- US: GM still books $1.4bn Q3 net profit after $300m flood and Russia hit – Just-auto: General Motors has announced third quarter net income took a US$300m hit from “special items” but net profit for the recall-troubled quarter was still $1.4bn, or $0.81 a share – double the result for Q3 2013.
- GM’s Profit Falls 14% – WSJ: General Motors reported a 14% drop in its third-quarter profit but beat analyst expectations as strength in North America offset weaker results in other regions of the world.
- DuPont to fight EC coolant objections “every step of the way” – Just-auto: Dupont says it will ‘fight every step of the way’ against European Commission (EC) moves that say it may have breached European Union (EU) anti-trust rules along with fellow-chemical producer, Honeywell
- Nissan expands Takata airbag recall by 260,000 units worldwide – Automotive News: Nissan today expanded a global recall of cars using Takata-made airbags, which have been linked to four deaths in Honda cars.
- Daimler earnings boost dividend hopes – FT: Cash pile jumps after strong performance from car and truck operations
- GM posts higher-than-expected profit on strong North American demand – Reuters: General Motors Co on Thursday posted a higher-than-expected profit for the third quarter on strong demand in its home North American market and in China.
- GM posts higher-than-expected profit on strong N. American demand – Reuters: General Motors Co on Thursday posted a higher-than-expected profit for the third quarter on strong demand in its home North American market and in China.
- Honda, in wake of 5th Fit recall, appoints first quality czar – Automotive News: Honda, announcing its fifth Fit recall in just 12 months, has taken the unprecedented step of appointing its first quality czar to clamp down on the carmaker’s problems. The latest recall did not include Fits in the U.S.
- Honda executives to take pay cut after fifth Fit hybrid recall – Reuters: Honda Motor Co said on Thursday its president and 12 other executives would take an unprecedented, quality-related pay cut after the Japanese automaker announced the fifth recall in a year of its new Fit hybrid model.
- Daimler Profit Soars – WSJ: German auto maker Daimler reported a sharp increase in third-quarter earnings on strong demand for its flagship S-class sedans and robust growth in Europe, Asia and the U.S.
- Daimler Q3 profit beats estimates as Mercedes expands – Via Google News: Daimler AG, the world’s third- largest maker of luxury vehicles, reported a 21 percent increase in third-quarter profit as deliveries of the top-of-the line …
- U.S. prosecutors probe Takata Corp over statements: WSJ – Reuters: U.S. federal prosecutors are trying to determine whether Japanese auto parts maker Takata Corp misled U.S. regulators about the number of defective air bags it sold to automakers, including Toyota Motor Corp and Honda Motor Co Ltd , The Wall Street Journal reported on Wednesday.
- GERMANY: Daimler boosts Q3 profit after record sales – Just-auto: Daimler said it booked strong growth in earnings and record unit sales and revenue in the third quarter of 2014. The group boosted Q3 unit sales 7% year on year to 637,400 cars and commercial vehicles worldwide as Mercedes-Benz Cars set a quarterly record.
- Design Passion Grows Alongside China’s Auto Industry – Wards: Joseph R. Szczesny Chery design chief James Hope, formerly with General Motors, concedes Chinese automakers have imported “expats” to help upgrade car designs, but adds a lot of local talent is emerging.
- Hyundai’s Q3 profit falls 29% on firmer currency, sluggish sales – Automotive News: Hyundai posted a 29 percent fall in third-quarter net profit, the steepest decline in at least six quarters, hit by slowing sales growth and a stronger local currency, but said it expected earnings to bounce back in the fourth quarter.
- Honda docks chief’s pay as recalls hit – FT: Thirteen executives to have pay cut 10-20% after fifth Fit hybrid recall in a year
- Nissan recalling 260,000 vehicles globally with Takata air bags – Reuters: Nissan Motor Co said on Thursday it is recalling 260,000 vehicles globally due to a defect in driver-side air bags made by Takata Corp.
- Hyundai looks to placate angry investors – FT: Proposal to buoy payout comes amid outrage over $10bn trophy headquarters plan
- JAPAN: Honda recalls Fit hybrid a fifth time, execs take pay cut – Just-auto: Honda Motor is recalling its redesigned Fit [Jazz] hybrid for the fifth time in less than a year in Japan, issuing a recall of 425,825 cars on Thursday (23 October) due to two defects.
- Mini Latest to Admit Mislabeling MPG – thedetroitbureau.com: Mini has become the latest in a line of automakers who have had to admit they were overstating their fuel economy numbers. The EPA is stepping up audits – and will likely revise mileage testing procedures by year-end.
- Hyundai Motor’s Profit Skids – WSJ: Hyundai Motor third-quarter net profit fell 28%, hurt by a stronger local currency, work stoppages and weak sales of its new flagship sedan.
- Daimler profit rises in Q3 as Mercedes sales expand – Automotive News: Daimler reported a 21 percent increase in third-quarter profit as deliveries of the top-of-the line Mercedes-Benz S class more than doubled.
- Major recall on more than 7 million vehicles – Via Google News: More than 7 million automobile owners are being urged to have their vehicles seen by their dealership. The National Highway Traffic Safety …
- Tesla battles history in fight for direct sales – Via Google News: The auto dealer franchise laws, such as the one dealers amended and Gov. Rick Snyder signed this week that would bar Tesla Motors from selling its …
- NHTSA apologizes for mishandling Takata airbag recall information – Automotive News: The National Highway Traffic Safety Administration’s top official apologized late Wednesday for publishing inaccurate information in its Monday warning about defective Takata airbags that may explode and for technical glitches that made its recall…
- A Set of ’Vettes, Off to Rehab – NY Times: After decaying in various New York City garages over the years, the Peter Max Corvettes — a collection of every Corvette from 1953 to 1989 — are finally being restored.
- Pressure Intensifies for Recall of Takata Airbags – NY Times: Two senators demanded wider recalls and a House committee said it wanted a fuller accounting of how the recalls were handled.
- UAW eyes bargaining rights at VW’s Tenn. plant within a year – Automotive News: The UAW hopes to be recognized as the exclusive bargaining agent for workers at Volkswagen’s assembly plant in Chattanooga within a year, union President Dennis Williams said Wednesday.
- Wheelies: The Mini Adjustment Edition – NY Times: The E.P.A. orders BMW to reduce fuel economy ratings on four Mini models; Scion announces a new concept car for the Los Angeles auto show.
- UK: Vauxhall undercuts Fiesta with new Corsa pricing – Just-auto: The fourth generation Vauxhall Corsa will undercut the entry level Ford Fiesta, Britain’s long-time best selling car, by GBP1,000 when it goes on sale at year-end.
- U.S. prosecutors probe Takata over recalls – Automotive News: The recall of some 7.8 million vehicles with faulty Takata airbags that may explode attracted additional federal scrutiny Wednesday, with prosecutors launching a probe into the Japanese supplier and a U.S.
- How to check if your car’s airbags are being recalled: The Real Deal – Via Google News: The National Highway Traffic Safety Administration says more than 7 million vehicles made by a number of automobile manufacturers are included in …
- Michigan Bans Tesla Direct Auto Sales – Via Google News: Michigan is the latest state to ban direct consumer sales of cars, a move … Proponents of the direct sales ban, including the Michigan Automobile …
- Dealers fume over new Edmunds videos that spoof price haggling – Automotive News: New YouTube ads from Edmunds.com have provoked a backlash. Some dealers say the four videos perpetuate stereotypes of dealers as unscrupulous bargainers. Edmunds says the ads are simply spoofs intended to show that customers dislike haggling.
- Toyota says potential Mexico plant still far from approval – Automotive News: Toyota, the last major carmaker without a high-volume assembly plant in Mexico, said the group assessing whether to build a factory there is far from getting clearance from top management.
- Northeast Ohio’s first Tesla electric car showroom coming to Mayfield Road in Lyndhurst – Via Google News: An Ohio House bill requested by the Ohio Automobile Dealers Association would have prohibited auto manufacturers from selling vehicles directly to …
- McLaren releases interior images of “world’s greatest track car to be,” the P1 GTR – Via Google News: McLaren has continued the drip-feed of info about its upcoming P1 GTR. The company is aiming for the racing version of its P1 supercar to be the …
- Guns Don’t Kill People, Cars Do – Via Google News: Luckily, no one was hurt, and both cars were fine aside from a few minor … Automobiles are a luxury, sure, but they’ve become far more ubiquitous …
- JAPAN: Takata shares recover after airbag recall charge update – Just-auto: Takata Corporation, the Japanese maker of air bags at the centre of an auto industry-wide safety crisis, has recovered from its biggest-ever drop in Tokyo share trading after saying additional charges related to recalls would be small.
- GERMANY: Next Audi A8 will be ‘autonomous’-capable – Just-auto: The next-generation Audi A8 will be able to drive itself.
- LCV Concept Fleshes Out Iveco’s Dual Energy System – Wards: The concept’s fully automated load management uses sensors that identify the goods and then indicate the correct positioning of the different parcels within the vehicle interior.
- FRANCE: PSA on course to hit targets ahead of schedule – Just-auto: PSA Peugeot Citroen could reach its cashflow target two years early thanks to better than expected growth at its growth at its Faurecia parts unit which contributed to an unexpected increase in third quarter revenue.
- Autoline Daily – Wards: Tesla Hit With Bad News, Dodge Powers Up the Charger, Germany’s Top 10
- Scion Teases New Concept for LA Auto Show – thedetroitbureau.com: Looking to rebuild its once formidable image among younger buyers, Scion is planning to roll out an assortment of new models over the next few years, and we’ll be getting a sense of what’s to come at next month’s Los Angeles Motor Show.
- Wonkblog: It’s the worst year ever for auto recalls. Why are so many dangerous cars still on the road? – Washington Post: It’s the worst year for auto recalls in U.S. history, with more than one in five cars and trucks at risk of sometimes critical, deadly defects. But the disjointed recall system patched together by automakers and regulators is leaving millions of broken vehicles still on the road. Read full article >>