- Jaguar Land Rover to cut output and jobs due to Brexit, diesel slump – source – Reuters: Britain’s biggest carmaker Jaguar Land Rover will cut around 1,000 jobs and production at two of its English factories due to uncertainty around Brexit and confusion over diesel policy leading to a fall in sales, a source told Reuters.
- Regulators eye new measures after Rolls-Royce Trent 1000 glitches -source – Reuters: U.S. and European regulators are set to order co-ordinated measures following the latest problems with Rolls-Royce Trent 1000 engines, used to power some Boeing 787 jets, said a person familiar with the plans.
- VW trucks IPO to bring in up to 7 billion euros – Spiegel – Reuters: Volkswagen hopes to raise 6 billion to 7 billion euros ($7.4-$8.6 billion) through a listing of its trucks and buses division, German magazine Der Spiegel reported, not citing where it obtained the information.
- Porsche, Lamborghini and Bugatti. Yours for $123 Billion – Bloomberg: As part of a sweeping overhaul announced on Friday, VW said it would bundle Porsche, Bugatti, Bentley and probably Lamborghini eventually into a new internal product group called “Super Premium.” The idea is to strengthen decision-making and promote…
- Storied Ferrari Designer Wants to Build a $2.5 Million Electric Car – WSJ: The Italian design firm Pininfarina has spent nine decades designing Ferraris, Cadillacs, Alfa Romeos and Maseratis. It now plans to build its own electric “hyper car” that only a sliver of the world”s population can afford.
- Jaguar Land Rover to cut production and jobs due to Brexit, diesel slump – ITV – Reuters: Britain’s biggest carmaker Jaguar Land Rover will cut production and jobs due to Brexit and the fall in demand for diesel models, ITV’s business editor tweeted on Friday.
- BRIEF-Antoine Doucerain Appointed New Managing Director Automobile At Dacia And New … – Reuters: RENAULT SA: * ANTOINE DOUCERAIN IS THE NEW MANAGING DIRECTOR AUTOMOBILE DACIA AND THE NEW MANAGING DIRECTOR GROUPE RENAULT ROMANIA. * APPOINTMENT AS OF MAY 1ST 2018 Source text : bit.ly/2EJqZZ4 Further company coverage: (Gdynia …
- Tesla CEO Elon Musk addresses autopilot system safety concerns: “We’ll never be perfect” – CBS News: Federal investigators forced Tesla out of a probe of a deadly crash in California. A driver using the electric carmaker’s autopilot system died after crashing into a highway barrier last month. The National Transportation Safety Board said Thursday…
- Three Reasons California Is Trump’s Worst Nightmare in Clean-Car Fight – Bloomberg: President Donald Trump, much to the delight of Big Auto, wants to roll back the Obama-era regulations that require cars to burn gasoline more efficiently and run cleaner. Well … So even if the rest of the country decides it doesn’t care about fuel…
- BRIEF-Fiat CEO says dividend could return if debt turns to zero – Reuters: Fiat Chrysler Chief Executive Sergio Marchionne says:
- Key takeaways from VW’s wild week – Automotive News: This is unlikely to go down well in Ingolstadt, which was proud of owning all the group’s Italian units: Lamborghini, Ducati and Italdesign. The other losers from VW’s shakeup are Mueller’s senior management team. Hans Gerd Bode, head of group…
- Tesla CEO Elon Musk, stressed but “optimistic,” predicts big increase in Model 3 production – CBS News: The pioneering electric car company Tesla has suffered a series of very public challenges since the beginning of this year. Its high-profile CEO Elon Musk called this a period of “production hell.” Most of the troubles revolve around the company’s…
- Fiat chairman says working with Marchionne to find new CEO next year – Reuters: Fiat Chrysler is working with its Chief Executive Sergio Marchionne to find his successor next year, the car group’s chairman John Elkann said on Friday. Marchionne has previously said he will step down as CEO in early 2019. He has repeatedly said his…
- Elon Musk tweets late at night Tesla will be profitable and cash flow positive in third quarter; shares rise – CNBC: An Elon Musk reply tweet moved the stock Friday.
- Rolls-Royce ups estimate to fix Boeing Dreamliner engines – Reuters: Rolls-Royce on Friday warned it would require more money and more inspections to fix problems with Trent 1000 engines on Boeing 787 Dreamliner planes, leading to further disruption for airlines.
- Tesla’s Dispute With US Safety Board Isn’t a Good Look – Bloomberg: But thankfully for Musk, this is one area where Uber and Tesla are similar. Neither has had problems raising capital to fund their money-losing businesses. If you need proof that investors still believe in Elon Musk, look no further than his backup CEO…
- Self-driving electric shuttle buses to begin at University of Michigan – Freep: Two autonomous electric shuttle buses built by Navya will begin carrying passengers around the University of Michigan’s North Campus.
- Why California is fighting for tough vehicle emissions standards – Freep: EPA poised to battle California and 12 other states over whether to weaken auto emissions standards. Car companies want to hold onto those consumers.
- Singapore allows Uber’s exit with antimonopoly measures – Nikkei:
- BRIEF-Fiat Chrysler CEO says U.S. emissions issue has to be resolved – Reuters: Fiat Chrysler Automobiles CEO Sergio Marchionne says:
- VW’s new chief wants the automaker to be fit and ready for the tech revolution – CNBC: Volkswagen’s “super-premium” group is to include sports car brands Porsche, Bentley, Bugatti and very likely, Lamborghini. The “premium” segment will hold Audi at its core, targeting BMW and Daimler as its main competitors. The volume business will…
- Tesla May Be the Most Hated (and Loved) Stock in America – Bloomberg: “I invest in themes, and autonomous vehicles and electric vehicles will be the overriding themes for the next decade.” That’s all well and good, according to Vembar, but Tesla probably won’t generate the cash to be able to create and build the cars of…
- Volkswagen’s new CEO will take the company to ‘the next level,’ analysts say – CNBC: New plans by German carmaker Volkswagen could finally set it free from the troubled years of the “dieselgate” scandal, analysts told CNBC Friday. … The Volkswagen Group, which also includes brands such as Audi and Porsche, reported a 4.3 percent…
- Singapore watchdog sets interim measures for Uber-Grab deal – Reuters: Singapore’s competition watchdog on Friday outlined a set of interim measures for ride-hailing firms Grab and Uber Technologies to ensure an open market as it continued its investigation into their merger in the city-state.
- VW Chief Pledges Faster Streamlining to Speed Decisions – Bloomberg: Aside from separating the trucks unit, VW plans to regroup its 12 vehicle brands into four groups to forge closer ties between similar nameplates like mass-market Skoda and Seat. Poetsch said that, whatever moves the company makes with the truck…
- Ford’s slow China run persists, sales skid again in March – Reuters: (Adds analysis, quote from Ford Asia-Pacific chief). By Norihiko Shirouzu. BEIJING, April 13 (Reuters) – Ford Motor Co’s business in China continues to falter amid a dearth of fresh products, even though the American automaker earlier this week said it…
- Britain says new biofuel targets will reduce diesel reliance – Reuters: British biofuel targets coming into force this weekend will double the use of renewable fuels in the UK transport sector in 15 years and reduce reliance on imported diesel, the government said on Friday.
- Volkswagen has no plans to cede control of trucks ops – chairman – Reuters: Volkswagen will not list its trucks business this year and has no plans to cede control of the division, chairman Hans Dieter Poetsch said on Friday.
- Volkswagen’s new CEO says to consider asset sales – Reuters: Volkswagen’s new Chief Executive Herbert Diess on Friday said he will consider asset sales and seeks to turn the multi-brand conglomerate into a slimmed down company with strong brands.
- Magna Steyr to engineer EV architecture for BAIC – Automotive News: Magna Steyr, the vehicle engineering unit of Canadian supplier Magna International, will develop a next-generation smart electric vehicle architecture for state-owned Chinese automaker BAIC Motor. Magna Steyr was chosen for its innovation and…
- VW labor chief backs new CEO Diess to steer overhaul – Reuters: Volkswagen’s top labor representative has backed the company’s management shake-up, signaling that new CEO Herbert Diess could face less resistance in his efforts to revamp Europe’s biggest carmaker than in his previous role.
- With new CEO, VW shifts focus from scandal to future tech – Washington Post: Volkswagen’s new CEO said Friday that the automaker must “significantly step up the pace” as it develops electric and self-driving vehicle technologies and offers transportation as a digitally driven service. Herbert Diess said a new management…
- GM’s troubled Korea unit says annual net loss widens to $1.1 billion – Reuters: General Motors’ South Korean unit said on Friday its annual net loss widened to $1.1 billion, its fourth straight year in the red after GM’s decision to pull its Chevy brand from Europe led to reduced exports.
- Ford’s March China vehicle sales down 11 pct y/y – Reuters: Ford Motor Co’s sales in China fell 11 percent in March from a year earlier to 83,666 vehicles, as its business in the world’s biggest auto market remains hampered by a dearth of fresh products. The company, whose sales fell a sharp 30 percent in…
- Rolls-Royce to increase inspections of Trent 1000 engines – Reuters: Britain’s Rolls-Royce needs to increase the number of inspections on its problematic Trent 1000 engines, it said on Friday, leading to additional disruption for customers and higher costs.
- US judge says Uber drivers are not company’s employees in the first ruling of its kind – CNBC: A judge said Uber does not exert enough control over drivers for its limo service to be considered their employer.
- Singapore watchdog sets interim terms for Uber-Grab deal – Reuters: Singapore’s competition watchdog on Friday outlined a number of interim measures as it continued investigation into ride-hailing firm Grab’s deal to buy Uber Technologies’ business in the city-state.
- Tesla email reveals company’s effort to silence an alleged victim with cash – Guardian: In the three weeks since the death of Walter Huang, 38, whose Tesla Model X crashed while in Autopilot mode in California, the company has repeatedly argued that the victim was at fault, not its nascent technology, and it has openly feuded with US …
- Deal-making spike seen as positive sign for U.S. stock market, for now – Reuters: Investors are optimistic that a pickup in corporate acquisitions stands to support the volatile U.S. stock market, and does not represent a worrisome cyclical sign.
- Australia’s AMA Group to sell vehicle panel repair business to Blackstone for $394.9 mln – Reuters: AMA Group said on Friday it would demerge its automotive component, accessory and procurement business and separately sell its vehicle panel repair business to funds advised by buyout firm Blackstone Group for an enterprise value of A$508 million…
- Trump’s consumer watchdog chief vents about ‘leaked’ information: memo – Reuters: Earlier this week, Reuters reported that Mulvaney was seeking a $1 billion penalty against Wells Fargo & Co for harming customers of auto insurance and mortgage loans. In recent weeks, Reuters reported that Mulvaney had dropped a case against a…
- GM says sticking to April 20 deadline for GM Korea restructuring – Reuters: The April 20 deadline, first given in late March, ratchets up pressure on the South Korean government and the state-funded Korea Development Bank. They said this week they need until early May to complete due diligence on GM Korea and the automaker’s…
- Volvo to focus on electrifying current line-up before launching next new car – Autocar: Volvo will not launch any all-new models between now and 2020, instead capitalising on its existing line-up to reach its goal of 800,000 annual car sales by that date. Other models such as a convertible or SUV coupe – the latter of which was rumoured…
- Thursday’s preps: Stevenson topples Utica Ford – Detroitnews: Looking to get back on track after a slow start, Sterling Heights Stevenson was firing on all cylinders Thursday, picking up an 11-1 victory in five innings over Utica Ford in its first MAC Red baseball game of the season. Mark Kattula went 3-for-3 and…
- TDK Begins Mass-Producing New, Low-Profile Multilayer Inductor – Japanautomotivedaily: TDK Corp. (TYO:6762) recently announced its development of the new MLD2012 multilayer inductor series for automotive power circuits. Mass production []
- Toyota Boshoku to Establish New Manufacturing and Sales Company for Automotive Interior Materials in China – Japanautomotivedaily: Toyota Boshoku Corp. (TYO:3116) recently announced that consolidated group company Kawashima Textile Manufacturers (Shanghai) Ltd. will establish a manufacturing and []
- Electric, Hybrid Cars Account for Nearly 40% of Fiscal 2017 Sales Volume – Japanautomotivedaily: The number of electric and hybrid passenger vehicles registered and sold in Japan during fiscal 2017 set a new annual []
- Suzuki Begins Exports of Indian-Made Swift to Africa – Japanautomotivedaily: Suzuki Motor Corp. (TYO:7269) announced on April 10 that it has begun exporting its Swift compact car to Africa from []
- Driverless vehicles prepare for prime time – Detroitnews: The auto industry has moved past the hypothetical, and is focused on deployment of self-driving cars
- Behind Tesla’s War of Words With the Federal Agency Investigating a Fatal Model X Crash – Fortune: A war is brewing between Tesla, its CEO Elon Musk, and the National Transportation Safety Board over an investigation into a fatal Model X crash near San Francisco. The disagreement – and resulting fallout – ended cooperation between Tesla and the NTSB…
- China lays out self-driving rules in global race – China Daily – Reuters: China has laid out national guidelines for testing self-driving cars as it looks to keep pace with the United States in a global race to develop autonomous vehicles, the China Daily newspaper reported on Friday, citing the country’s industry ministry.
- NTSB and Tesla executives clash over investigation into deadly California crash – Washington Post: Tesla is no longer a party to the federal investigation into a deadly crash involving one of its vehicles in California last month, the government and company said Thursday. But the two sides offer different explanations for the split, and the dispute…
- GM Korea future hangs by a thread – Automotive News: After 16 years and billions of dollars in investments, General Motors faces a decision in South Korea: stay or leave. GM international chief Barry Engle plans to meet South Korean officials this week in a last-ditch effort to salvage a deal for the…
- Skoda lobs Karoq into the fray – Autocar: Skoda sold 1300 vehicles here last year, and is set to move 1800 this year, thanks in big part to its duo of K branded machines. The launch of the unnamed compact SUV next year should bolster Skoda numbers to 2000 locally, and in 2020 an electric SUV…
- Don’t rule out diesel car refits, German environment minister warns – Reuters: The German government should not rule out requiring retrofits of heavily-polluting diesel cars, centre-left Environment Minister Svenja Schulze said, underscoring differences among the parties in Chancellor Angela Merkel’s governing coalition. Schulze,…
- GM exec: Detroit area’s ‘talent deficit’ cost it Amazon – Detroitnews: Citing a missed chance at Amazon’s second headquarters as a dashboard warning light, General Motors Co. product chief Mark Reuss told the Society of Automotive Engineers World Congress here Thursday that the autonomous vehicle revolution will also…
