- Audi A6 will get electrified powertrains – Automotive News: All versions of Audi’s new A6 large sedan will be fitted with a mild-hybrid as part of a significant jump in technology advances compared to the old model. The car will be revealed at the Geneva auto show on March 6 ahead of sales starting in Germany…
- Toyota shuffle reveals most diverse board of directors ever – Automotive News: President Akio Toyoda, citing the need to be fast and flexible in an industry besieged by change, shuffled his company’s board of directors, installing the first female director and appointing a British Paralympic medalist, as a former General Motors…
- Volvo Cars Feb sales up 12 pct as US gives boost – Reuters: Geely-owned Volvo Car Group said in a statement on Friday its sales rose 12.1 percent year-on year in February boosted by strong growth the U.S. market. * Total sales for the month of February reached 40,930 cars compared to 36,515 a year earlier as…
- GM plants to cut 5000 South Korean jobs, keep production at current level – document – Reuters: The Detroit automaker, which owns 77 percent of GM Korea, is negotiating with the South Korean government over the restructuring proposal, as state-run Korea Development Bank (KDB) owns a 17 percent stake. GM’s main Chinese partner, SAIC Motor Corp Ltd…
- Toyota venture to spend $2.8 bln to develop self-driving technology – Reuters: The Tokyo-based venture, which will bring together some 1,000 employees including new hires, will be 90 percent held by Toyota with group suppliers Denso Corp and Aisin Seiki Co each taking 5 percent. This company’s mission is to accelerate software…
- German car sales up about 7 pct in February – source – Reuters: New car sales in Germany increased about 7 percent to 261,000 vehicles in February, shrugging off a continuing downtrend in registrations of diesel-powered cars, an auto industry source said on Friday. Sales of new passenger cars in Europe’s largest…
- Infineon Launches Chip Venture With Chinese Car Giant SAIC – Bloomberg: German chipmaker Infineon Technologies AG is teaming up with SAIC Motor Corp Ltd., China’s largest automaker by sales volume, to benefit from the … The electric car boom, which has produced global sales exceeding more than 1 million units last year…
- Carmakers’ Feb. sales fall 9.8 pct on fewer work days, low demand – Yonhap: GM owns a 77 percent stake in GM Korea, with the state-run Korea Development Bank and SAIC Motor Corp. controlling 17 percent and six percent, respectively. Seoul plans to quickly conduct due diligence on GM Korea’s financial status and its parent…
- Fiat Chrysler’s Magneti Marelli said to draw suitors amid spinoff plan – Automotive News: Fiat Chrysler Automobiles has fielded interest in some of its Magneti Marelli businesses as the Italian-American carmaker prepares for a potential spinoff of the auto-parts unit by early next year, according to people familiar with the matter. Bain…
- GM’s S. Korea sales halve after plans for drastic restructuring – Reuters: General Motors saw its South Korean vehicle sales tumble by almost half in February, as consumers took fright at its decision to slash production and restructure its loss-making operations in the country. Although GM’s presence in the South Korean…
- Toyota appoints first female board member – FT: “Having speed and being open are key to survival in this era of profound transformation,” Akio Toyoda, president of Toyota, said in a statement. “By appointing people with like minds but with a wide range of professional backgrounds, we can discuss…
- Toyota Announces New Company Devoted to Self-Driving Cars – WSJ: TOKYO-Toyota Motor Corp. and its suppliers announced on Friday plans to spend billions of dollars to get autonomous cars out of the laboratory and into the hands of consumers. Toyota, Denso Corp. and Aisin Seiki Co. will create a new Tokyo-based…
- Mergers within Renault-Nissan-Mitsubishi alliance possible but not a goal: Ghosn – Reuters: The head of Renault, Carlos Ghosn, on Friday did not rule out the possibility of mergers among members of the Renault-Nissan-Mitsubishi alliance (RENA.PA) (7201.T) (7211.T) but said this was not necessarily a goal. Carlos Ghosn, Chairman and CEO of…
- Nikkei rattled by fears of trade war, BOJ exit; short-sell ratio hits record – Reuters: Japanese stocks fell to a 2-1/2-week low on Friday, with steelmakers and automakers taking a battering after President … at UBS Securities Japan, referring to a stronger yen, worries about corporate earnings next fiscal year and potential damage to…
- Hyundai Motor’s Feb. sales fall 8.1 pct on holidays, weak demand – Yonhap: Hyundai Motor Co., South Korea’s top automaker, said Friday that its February sales fell 8.1 percent on-year on fewer working days and weak demand. Hyundai Motor sold 310,148 vehicles in February, compared with 337,544 units a year earlier, the company…
- SAIC, Infineon form JV to make electric car power modules in China – Reuters: SAIC Motor will hold a 51 percent stake in the joint venture, while Infineon will own the rest. Our joint venture will make us faster to serve the electric vehicle customers in China, said Jochen Hanebeck, a board member of Infineon, which supplies…
- Renault Samsung Feb. sales fall 22 pct on lower demand – Yonhap: Renault Samsung Motors Corp., the South Korean unit of French carmaker Renault S.A., said Friday its February sales fell 22 percent from a year earlier on weak demand at home and abroad. Renault Samsung sold 15,994 vehicles in February, down from…
- Nikkei slumps 3 pct as steel, auto sectors rattled by US tariff move – Reuters: Japan’s Nikkei share average fell nearly 3 percent to a 2-1/2-week low on Friday, with steelmakers and automakers hit after … Securities Japan, referring to a stronger yen, worries about corporate earnings next fiscal year and potential damage to the…
- US sales of Hyundai, Kia SUVs up in February – Yonhap: Hyundai Motor Co. and its corporate cousin Kia Motors Corp. posted increased sales of their sport-utility vehicle (SUVs) in the United States last month, though overall number of vehicles sold have not fully recovered, data showed Friday. In February,…
- Toyota says US tariffs on steel, aluminum will substantially raise production costs – Reuters: The (U.S.) Administration’s decision to impose substantial steel and aluminum tariffs will adversely impact automakers, the automotive supplier community and consumers, the automaker told Reuters. Toyota added that more than 90 percent of the steel and…
- Asian stocks tumble as Trump sparks global trade war fears – Reuters: Stock markets in Asia on Friday extended a Wall Street rout, as investors were spooked by the specter of a global trade war after … Toyota Motor shares were down 2.4 percent as the automaker said the planned tariffs would substantially raise costs…
- Jaguar I-PACE stalks Tesla Model X – Detroitnews: Jaguar on Thursday introduced its long-awaited, all-electric I-PACE Tesla fighter. The I-PACE is the first SUV to take on the falcon-winged Tesla Model X which pioneered the premium EV crossover segment in 2015. Like the Tesla Model X and its sister …
- Ford Bet on Aluminum Trucks, but Is Still Looking for Payoff – New York Times: Three years ago, Ford Motor made a daring gamble when it started selling a new version of its F-150 pickup truck made mainly of aluminum rather than steel. No carmaker had ever committed to using aluminum so widely in such a high-volume, high-profile…
- Luxury pickup trucks are today’s big thing – Reuters: … >> When it comes to vehicles, it’s go big or go home. Major auto makers posted lower U.S. sales for February, but it was passenger cars that drag down the curve. Sales of Fiat, Chrysler’s little sporty, Little Italian namesake, for instance,…