Top News:
- There’s a new biggest Tesla bull on Wall Street: Analyst predicts 40% surge to $500 in just 12 months – CNBC: Nomura Instinet initiated coverage on Tesla shares with a buy rating and set a 12-month price target of $500, representing 44 percent upside to Tuesday’s close. It now has the highest Tesla price forecast out of the 19 research shops that cover the …
- Senate panel set to vote on self-driving car legislation – Freep: WASHINGTON – A U.S. Senate committee will take up legislation at 10 a.m. today as it moves toward putting into place regulations for the testing and…
- Carmakers ready robot cars while rules wait – Detroitnews: Federal legislation being debated Wednesday would allow automakers to operate thousands of self-driving cars
- Exclusive: VW seeks to curb competition from Skoda – sources – Reuters: Volkswagen managers and unions are seeking to curb competition from lower-cost stablemate Skoda, move some of its production to Germany and make the Czech brand pay more for shared technology, company sources told .
- What TaskRabbit’s Fate Says About Sharing – Bloomberg: The company was a catalyst for “collaborative consumption,” a movement in which everyone would share their homes, their vehicles and their time.
- Tesla’s Biggest Competitor in the Electric Car Revolution? It Might Be Detroit – Fortune: Musk, Tesla’s CEO, estimated that production would grow “exponentially,” with the automaker producing at least 1,500 cars a month by September,…
- Honda to close Japan plant amid refocus on EVs – Automotive News: CEO Takahiro Hachigo: “Honda is undertaking new technologies such as electrification and intelligence technologies.” Photo credit: REUTERS.
- Oil ministry seeks 5 percent cut in value added tax from states on petrol, diesel – Reuters: India’s oil minister Dharmendra Pradhan said on Wednesday his ministry has asked for a 5 percent cut in additional state levy, a day after the federal government cut factory gate tax on petrol and diesel to protect retail consumers from high global crude oil prices.
- Range Rover Velar scores Euro NCAP five-star rating – Autocar: Land Rover’s latest SUV joins the ranks of the Volvo XC90, Mercedes-Benz GLC and BMW X1 in achieving top marks in crash protection
- Audi Sport confirms Oliver Hoffmann as new development boss – Autocar: Hoffmann led development of naturally aspirated V10 engine of the R8 and succeeds Stephan Reil as head of technical development
- Honda to stop output at one Japan plant by 2022 as domestic sales stagnate – Reuters: Honda Motor’s logo is seen on Civic sedan car at its showroom in Tokyo, Japan October 4, 2017. … TOKYO () – Honda Motor Co (7267.T) said …
- Though unauthorized personnel did Nissan inspections, papers show otherwise – Nikkei: While unauthorized workers were doing the final safety checks of Nissan Motor cars, inspection papers were being stamped with the seals…
- Porsche Mission E seen with production body for first time – Autocar: Porsche’s all-electric rival to the Tesla Model S is scheduled to go on sale in less than three years; new spy shots suggest development is on track
- Japan transport ministry raids two Nissan plants over improper checks – Reuters: Japan’s transport ministry said on Wednesday it had carried out spot inspections at two plants producing Nissan Motor Co Ltd vehicles as part of a probe into final checks, days after irregularities forced the automaker to recall 1.2 million cars sold in Japan.
- Ford’s Plan For More Smart Vehicles And Services Won’t Work If It Doesn’t Fix Its Business Today – Forbes: Ford Motor CEO Jim Hackett at Ford’s City of Tomorrow Symposium in San Francisco. (Photo by Kelly Sullivan/Getty Images for Ford Motor Company).
- Where Driverless Cars Brake for Golf Carts – New York Times: Waymo, the driverless car unit of Google’s parent company, Alphabet, started a trial ride-hailing program in Phoenix this year with several hundred…
- Uber’s Indian Rival in Talks to Raise Up to $2 Billion – WSJ: Uber Technologies Inc.’s rival in India, Ola, is in talks to raise as much as $2 billion, a cash injection that would provide added fuel to fight the San Francisco ride-hailing giant in the world’s second-most-populous country.
- Poland’s Sept new car registrations up 12.4 pct yr/yr – Reuters: … produced by Skoda, the Czech subsidiary of Volkswagen, followed by the Opel Astra, produced by Germany’s Opel AG, and the Volkswagen Golf.
- Renault plans second small SUV alongside Captur – Automotive News: Renault will add a second subcompact SUV that will be sold alongside the Captur starting in 2019. The model will be built on…
- German new car sales fall 3.4 pct in Sept. -source – Reuters: German new car sales fell 3.4 percent in September to about 288,000 vehicles, the fourth monthly decline this year, …
- Volvo Cars sales up 11.2 pct yr/yr in Sept powered by US,China – Reuters: Geely-owned Volvo Car Group said in a statement on Wednesday its sales rose 11.2 percent year-on year in …
- Honda unveils plans to streamline car production in Japan – FT: Honda has announced plans to streamline its car production operations in Japan as well as establish a system to share new production technologies…
- Honda Says to Consolidate Two Japan Factories Into One Around 2022 – New York Times: TOKYO – Honda Motor Co said on Wednesday it plans to consolidate production at two of its Japanese plants in a single factory within the next five…
- A Huge European Carmaker Is Inching Back Into the US – Bloomberg: For now, PSA is not participating in a car-sharing venture with Bollore SA in Los Angeles, Dominique said, after the companies previously announced…
- The China Bike Rental Money Cycle – Bloomberg: Car-sharing companies generally don’t own inventory. This means they’re not spending buckets of money buying assets that get piled up like trash on…
- Nissan plants raided over improper checks – Reuters: … >> As Nissan gets to grips with the major Japanese recall, Tokyo is piling on the pressure. Transport officials on Wednesday raiding two separate …
- Tesla’s Model 3 Delays Don’t Faze Investors – Bloomberg: Shareholders shrugging off Tesla Inc.’s plodding start with its newest electric car were backed up by the newest analyst to start covering the company,…
- ‘Speculative frenzy’ over electric cars and battery tech as investors mull lithium futures – CNBC: The future of electric vehicles has led several investors to view lithium as the hot new commodity. Governments and car manufacturers alike have…
- Hurricane recovery helps boost US September new auto sales – Reuters: General Motors Co stock rose more than 3 percent to its highest level since its 2010 post-bankruptcy initial public offering, and Ford Motor Co closed up more than 2 percent at $12.34. … 1 U.S. dealer and Honda’s No. 2. Toyota Motor Corp’s September …
- Nissan Said to Have Falsified Inspection Documents: Kyodo – Bloomberg: Gadfly Columnist Shelly Banjo weighs in on recent automotive scandals and recalls. She speaks on ” Markets.” Her opinions…
- Divided Uber board reaches peace with SoftBank, governance deal – Reuters: Uber Technologies Inc’s fractured board declared peace on Tuesday, attempting to put months of strife behind it by unanimously passing a series of measures to shore up corporate governance, bring in major investor SoftBank and diminish the power of former Chief Executive Travis Kalanick.
- Ford to cut costs $14 billion, invest in trucks, electric cars: CEO – Reuters: Ford Motor Company president and CEO James Hackett answers questions during a press conference at Ford Motor World …
- Formula One Preview: Mercedes in search of lost speed at Suzuka – Reuters: Lewis Hamilton and his Mercedes team will be looking for lost speed as Formula One wraps up its Asian leg in Japan this …
- Ford CEO Jim Hackett’s 6-Point Plan to Turn Around the Automaker – Fortune: Ford’s new CEO Jim Hackett wants the automaker to be “fitter.” To Hackett, and the rest of the Ford’s senior leadership, that means slashing costs by…
- Australia new vehicle sales dip in Sept, commercial still strong – Reuters: Australian new vehicle sales took a dip in September after a run of record months, though continued strength in the commercial sector augured well for business spending in the economy.
- CANADA: September auto sales jump 7.7% as several automakers post record months – Automotive News: Ford retook the top spot from General Motors with 30,881 sales in the month compared with GM’s 27,237 units sold, putting Ford about 14,000 units ahead of its chief rival for total sales so far this year. Ford, Nissan, Toyota and Honda all posted …
- Range Rover Sport SVR and hybrid lead revised model range – Autocar: Facelift ushers in a 64g/km plug-in hybrid and an uprated, 567bhp SVR model; interior revisions bring it in line with the Velar, too
- Uber’s Board Approves Changes to Reshape Company’s Power Balance – New York Times: Uber’s board of directors voted on Tuesday to reduce the clout of certain shareholders, including its former chief executive, Travis Kalanick. Credit Justin Sullivan/Getty Images. SAN FRANCISCO – Uber’s board of directors voted on Tuesday for …
- Iris can’t hold your hand, but she may ease your mind as you step into a driverless car – Washington Post: said Jack Weast, Intel’s chief architect for self-driving solutions. “What we are finding is the more you can embody those kind of human trust…
- Tesla’s Core Business Is Bleeding Cash And The Model 3 Is Not Speeding To The Rescue – Forbes: Tesla shares finished nearly 2% higher Tuesday after gapping down at the open. In reading about Tesla today I was surprised by quotes attributed to…
- Ford CEO Jim Hackett’s plan to Wall Street: Fewer models, more electric cars – Freep: Ford CEO Jim Hackett laid out an ambitious plan to Wall Street today, aimed at refocusing the company as the automaker tries to stay relevant in a…
- Ford to Slash $14 Billion in Costs Under New CEO – Bloomberg: Ford Motor Co. will cut $14 billion in costs and drop some car models from its lineup under Chief Executive Officer Jim Hackett, who’s focusing the…
- Ford CEO outlines plan to aggressively cut costs, funneling savings to electric, self-driving cars – CNBC: The result is a substantial push to shift gears at a company that has a … Ford is not getting out of the car business all-together, but it will no longer be…
- Toyota’s US Sales Beat Ford Every Month in Third Quarter – Bloomberg: … month in September, though its lead narrowed as Ford boosted its deliveries to rental car companies and other fleet customers by 25 percent.
- Uber CEO Aims to Win Back London – New York Times: Less than two…
- Deutsche Bank Told to Boost Collateral on Securitized Debt – Bloomberg: Deutsche Bank AG needs to find extra collateral to remain a counterparty for top-rated asset-backed debt that’s tied to anything from mortgages to car…
- Audi exec shares views on EV push – Automotive News: Audi also plans to debut one full-electric car each year from 2018 until 2020. Mertens explained how Audi plans to achieve its autonomous and…
- Ford, Hackett to eliminate vehicles, trim billions – Detroitnews: … s announcement Monday that it will have at least 20 new electric vehicles by 2023 had GM stock…
- Toyota Vic factory lives on after closure – Yahoo: Unions fear many workers will struggle to find alternative full-time jobs and the ACTU slammed the federal government for its “betrayal” of Toyota staff.
- Tesla falters with Model 3 output, gains with Model S and X deliveries – Chicago Tribune: … Tesla struggled to produce its cheapest model shortly after the car debuted, setting … including Volkswagen, General Motors and Daimler lining up to compete.
- FCA: Fleet reduction helps ding sales 9.7% – Automotive News: Fiat Chrysler sales dropped 9.7 percent in September on a sharp pullback of fleet sales, while retail sales ticked up slightly. The company said it had…
- Italy’s September sales rise 8% – Automotive News: Renault Group sales rose 22 percent, boosted by a 25 percent rise at the core Renault brand, while French rival PSA Group’s registrations increased…
- GM shares jump to record after Bank of America upgrades to buy, citing electric car progress – CNBC: Bank of America Merrill Lynch raises its rating for General Motors to buy from neutral due to its strong competitive position in key auto technologies.
- Renault opens test track in China – Automotive News: Renault opened a test track for vehicles built at its joint venture with China’s Dongfeng Motor as part of the French automaker’s effort to enhance…
- Exclusive: One Ford, two systems – US carmaker revamps China strategy amid EV push – Yahoo: In August, Ford said it was considering a joint venture with Anhui Zotye Automobile Co <000980.SZ> to build electric vehicles in China under a new…
- Nissan to show electric concept, sporty Leaf in Tokyo – Automotive News: Alliance partner Mitsubishi Motors plans its own electric crossover at the Tokyo show, a coupelike four-wheeler dubbed the e-Evolution Concept.