Top News:
- GM CEO pressed for cost cuts, other moves to help GM hit China target – Reuters: When auto sales in China fell last month, General Motors Co’s (GM.N) share price took a hit, reflecting investor fears that the automaker would abandon promises to deliver strong profit margins from its operations in the world’s biggest car market.
- Apple Hires Ex- Chrysler Executive Doug Betts For Its Electric Car Project – Ibtimes: According to a report on Wall Street Journal, it is yet to be figured out whether Betts is a part of Apple’s car initiative or will he work on an existing…
- China slump to cut VW profit by more than 1 bln euros – Reuters: Volkswagen was not immediately available for comment. Volkswagen has a joint venture with China’s FAW Group Corporation and with SAIC Motor.
- Ferrari Stock Faces Soaring Testarossa Prices for Investor Favor – Bloomberg: A Ferrari Testarossa and a Ferrari F40 at a vintage cars and motorbikes exhibition at Le Grand Palais, Paris. Photographer: Antoine Antoniol/Getty…
- US: Mitsubishi ending Normal production – reports – Just-auto: Mitsubishi Motors reportedly plans to end car production in the US.
- Volkswagen Last Mile Surfer electric scooter revealed – Autocar: New three-wheeled electric scooter weighs just 11kg and will cost from around PS700 in the UK
- New Terrafugia TF-X flying car revealed – Autocar: New design for Terrafugia’s second flying car model, which should go on sale in 2021 with a starting price in excess of PS200,000
- BMW X6 Launched in India; Price, Feature Details – Ibtimes: BMW X6 boasts minor changes in the exterior like the new kidney-grille, large air inlets on the front with horizontal chrome trim and new LED tail lights…
- GM and Ford wage pickup wars over aluminum – CBS News: The pickup wars have broken out again. Ads from General Motors’ (GM) Chevrolet are attacking rival Ford’s (F) innovative aluminum-body F-150…
- California’s Worst-in-Nation Roads Face $5.7 Billion Funding Gap – Bloomberg: He also said he could see common ground on imposing fees on electric cars or those not paying their fair share. “There is an opportunity for a deal,”…
- Mitsubishi Reportedly Abandoning US Assembly Plant – Detroit Bureau: After failing to find a new manufacturing partner, long-struggling Mitsubishi Motors reportedly will abandon its assembly plant in Normal, Illinois – a move that raises questions about the maker’s longer-term commitment to the U.S. market.
- Honda Goes High(er) Tech with 2016 Accord – Detroit Bureau: Honda will be loading up the 2016 Accord with an assortment of new high-tech features, the maker revealed during a preview staged, appropriately enough, in Silicon Valley. That includes a second touchscreen display, Apple CarPlay and Android Auto and a package of advanced safety features, reports TheDetroitBureau.com.
- Ford and UAW begin negotiations with a handshake – Detroit News: Mexican production will loom over the talks
- Mitsubishi Motors considering ending US auto production -sources – Reuters: Mitsubishi Motors Corp , faced with declining demand in the United States and an expiring union contract at its…
- Mitsubishi Motors considering ending US auto production -sources – Reuters: At its peak in the early 2000s, the Normal plant built more than 200,000 cars a year. Last year, production of the Outlander sport utility vehicle totaled…
- TrueCar calls second quarter a ‘wake-up call’ – Automotive News: TrueCar CEO Scott Painter told analysts Thursday that the online car-shopping company will miss its previous guidance on second-quarter earnings and said the reasons for the shortfall amounted to a ‘wake-up call to focus on the business.’