- Tallying the trade war carnage: Boeing, Tesla shares plunge 5% as China announces new tariffs – CNBC: Tallying the trade war carnage: Boeing, Tesla shares plunge 5% as China announces new tariffs. China on Wednesday announced brand-new tariffs on 106 U.S. products, including soybeans, cars, aerospace and defense. Automaker and defense stocks are …
- Boeing, Ford lead list of casualties in China-U.S. trade spat – Reuters: U.S. aerospace companies, automakers, grain merchants and chipmakers were the early casualties on Wednesday after China and the United States announced tariffs on $50 billion of imports, cementing fears they were spiraling towards a trade war.
- GM and Ford Have a Few Lessons for Elon Musk – Barrons: The production numbers actually missed the company’s own forecast, as founder and CEO Elon Musk conceded that making cars is hard work. “I’m back to sleeping at factory,” Musk tweeted yesterday. “Car biz is hell ” Many of us have been saying that for…
- German diesel car sales plunge steepens in March – Reuters: A decline in diesel-car sales in Germany accelerated in March, the first month after a court ruled that cities can ban vehicles to tackle pollution. Sales of diesel-powered cars in Europe’s largest auto market plunged by a quarter last month, Germany’s…
- In boost for Britain, Peugeot to build new van at Vauxhall plant – Reuters: Peugeot-maker PSA has unveiled plans to raise output at its British Vauxhall van plant, in a pre-Brexit show of confidence that will raise pressure on sister brand Opel’s German workforce to offer concessions in labor talks.
- Boeing, Ford stocks lead list of casualties in China-U.S. trade spat – Reuters: U.S. aerospace companies, automakers, grain merchants and chipmakers were the early casualties on Wednesday after China and the United States announced tariffs on $50 billion of imports, cementing fears they were spiraling towards a trade war.
- Brexit not a barrier to UK van investment: Peugeot CEO – Reuters: Brexit not a barrier to UK van investment: Peugeot CEO. Reuters … But Peugeot was agile enough to take risks in a world where Brexit was far from being the only source of political uncertainty, and a decision on van production at Vauxhall’s plant in…
- German diesel car sales fell further in March: KBA – Reuters: Sales of diesel-powered new cars in Germany fell further in March as overall registrations in Europe’s biggest auto market declined 3.4 percent, the country’s KBA automotive watchdog said. Sales of diesel cars fell 25.4 percent in March, the first…
- PSA will boost van production at Vauxhall plant in UK – Automotive News: PSA Group will boost output at Vauxhall’s van plant in Luton, England, by adding Peugeot and Citroen models. … PSA CEO Carlos Tavares said the decision to build Peugeot and Citroen vans at Luton was made despite Brexit. “Brexit remains a concern for…
- Elliott Management Reveals Over $1 Billion Stake in Hyundai, Seeks Clearer Road Map – WSJ: SEOUL-Activist hedge fund Elliott Management Corp. said Wednesday that it has accumulated more than $1 billion in shares in three listed affiliates of Hyundai Motor Group, signaling renewed interest in South Korea’s corporate-governance reforms. The…
- Vauxhall owner hands boost to Luton plant – Yahoo: Prime Minister Theresa May hailed it as “testament to the world-renowned expertise of the British automotive industry and workforce”. Carlos Tavares, chairman of Vauxhall owner Peugeot Citroen, said: “This is a major milestone for the future of the…
- Peugeot agrees to continue production at Vauxhall’s Luton plant – FT: PSA has said it will continue to produce Peugeot, Citroën, Vauxhall and Opel vans at Vauxhall’s Luton plant, following investment from the UK government intended to guarantee the facility’s competitiveness after the UK leaves the EU. The French…
- Future of one of two Vauxhall plants in UK secured – Autocar: A Vauxhall Vivaro on the line at the Luton plant Under its new owner, PSA Group, Vauxhall’s Luton plant will flourish thanks to increased production of a new Vivaro van
- Tesla at Risk From China Tariffs, Adding to Musk’s Woes – Bloomberg: … including Teslas, Lincolns and Mustangs, according to China’s PCA. European carmakers such as Daimler AG and BMW AG also sell American made cars in China, according to PCA’s Cui. In February, China imported 2,323 vehicles with electric motors from…
- Peugeot to build new van at UK Vauxhall plant – Reuters: Peugeot said on Wednesday that Vauxhall’s next Vivaro van would be built at the British company’s plant in Luton, using its new EMP2 platform. This will allow it to also build Peugeot’s Expert van and Citroen Jumpy model in Britain, confirming an…
- Vestas taps car battery know-how for wind power storage – Reuters: We can piggyback on all the research they do with batteries for cars and get an excellent industry battery at the same time, Vestas chairman Bert Nordberg told Reuters. Vestas is partnering with Sweden’s Northvolt, headed by former Tesla executive…
- Home Solar Dims as Tesla, Others, Curb Aggressive Sales – WSJ: The number of U.S. homeowners putting solar panels on their roofs declined last year after leading installers including Tesla Inc. abandoned aggressive sales practices that had helped drive breakneck growth. Residential solar had been on a tear …
- Activist fund Elliott takes $1 billion stake in Hyundai – Reuters: Activist fund Elliott takes $1 billion stake in Hyundai. A unit of U.S. activist hedge fund Elliott Management reveals that it holds more than $1 billion worth of shares in key affiliates of South Korea’s Hyundai Motor Group and calls for more rapid…
- Elliott takes $1 billion stake at Hyundai – Reuters: Elliott takes $1 billion stake at Hyundai. A unit of U.S. activist hedge fund Elliott Management reveals that it holds more than $1 billion worth of shares in key affiliates of South Korea’s Hyundai Motor Group and calls for more rapid reform of the…
- Skoda unions raise stakes in wage demands – Automotive News: Unions at Skoda have withdrawn from a deal on flexible working shifts, adding pressure on the Czech automaker as they seek a double-digit pay raise and threaten strikes. Union leaders said in a statement more shift agreements could be cancelled if wage…
- Ford teases new Focus ahead of Europe, China reveal – Automotive News: European sales of the Focus were flat at 212,806 last year, according to JATO Dynamics market researchers. Fiesta sales fell 15 percent to 254,059. The Focus was Europe’s fourth best-selling mainstream compact car in 2017, after the Volkswagen Golf,…
- Ford and GM push for de-escalation of US-China trade dispute – FT: BYD declined to comment on whether it would be affected by the tariffs. Chinese carmakers export “almost nothing” to the US, according to Zhong Shi, an independent auto analyst in Beijing. “In terms of automobiles, the US is still more dependent on the…
- Denmark hits 1,200 former Uber drivers with additional tax – Reuters: Denmark’s tax authorities are demanding nearly 1,200 former Uber drivers to pay an additional $1.9 million in taxes for 2014 and 2015, after finding tax avoidance among close to all the drivers controlled.
- VW’s Skoda unions raise stakes in wage hike demands – Reuters: Strikes are a rare event in the central European country whose economic growth is propelled by the car sector. With strong growth in recent years and unemployment dropping to its lowest level in two decades, wages have been rising rapidly across…
- PSA CEO Tavares to get $1.2M bonus from Opel deal – Automotive News: PSA CEO Carlos Tavares could earn an additional 1 million euros ($1.2 million) in compensation for helping to engineer Opel’s turnaround plan in 2017. Shareholders will vote on the bonus at PSA’s annual meeting on April 24. PSA’s chief financial…
- Toyota’s March China vehicle sales up 5.4 percent year on year – Reuters: Toyota Motor Corp’s vehicle sales in China rose 5.4 percent in March from a year earlier to about 118,500 vehicles, the company said on Wednesday.
- Breakingviews – Elliott targets right pressure points at Hyundai – Reuters: Elliott Management is targeting the right pressure points at Hyundai. Having previously tangled … The U.S. activist says it holds significant stakes in three Hyundai group companies, including the $23 billion auto parts-maker Hyundai Mobis. That unit…
- Nissan’s China vehicle sales up 2.4 pct y/y in March – Reuters: Nissan Motor Co’s vehicle sales in China rose 2.4 percent in March from a year earlier to 122,959 vehicles, the Japanese automaker said on Wednesday. For the first three months of the year, China sales volume totalled about 336,131 vehicles for the…
- Risk of diesel bans force automakers to ditch or defend CO2-crucial powertrain – Automotive News: Audi Executive Vice President Technical Development Horst Glaser came to a meeting with journalists at the company’s annual results conference in March armed with charts showing air pollution in Germany’s cities was improving. “Air quality is getting…
- Musk’s Spotty Prophetic Record Muddles Tesla’s Assurance on Cash – Bloomberg: Tesla Inc. investors who’ve been having more trouble than usual lately calibrating Elon Musk’s lofty goals and predictions have reason to be wary of the latest declaration involving his electric-car maker. Fresh off the worst month for Tesla shares in…
- 2018 Ford Escape fails passenger safety crash test – Freep: “The occupant survival space was badly compromised”; passenger side airbag didn’t deploy, insurance institute says.
- Wages Are Getting Too High in Europe’s Eastern Workshop – Bloomberg: In the Czech Republic, Germany’s Volkswagen AG bought Skoda Auto in 1991; Slovakia welcomed appliance maker Whirlpool Corp. and turned itself into the world’s biggest car producer per capita. The region became a vital link in the supply chains that…
- METI Plans Conference on Future-Oriented Automotive Strategies – Japanautomotivedaily: The Ministry of Economy, Trade and Industry (METI) has announced that it will set up a conference to discuss strategies []
- Kansai Paint Develops New Millimeter-Wave Absorbing Sheet for Increased Safety in Autonomous Driving – Japanautomotivedaily: Kansai Paint Co. Ltd. (TYO:4613) recently announced its development of a radio wave absorber that absorbs the millimeter-wave frequencies used []
- Hyundai confident reorganization will benefit shareholders – Reuters: South Korea’s Hyundai Motor Group said on Wednesday it was confident its plan to streamline its governance structure would benefit shareholders, amid investor concerns that the controlling family’s interests were being put first. The comments came…
- Tesla’s Manufacturing ‘Hell’ Won’t Slow Down Electric Cars – New York Times: “It is a move to demolish the nation’s clean-car program.” President Trump claims that companies overestimated demand for highly efficient cars such as fully electric vehicles – E.V.s. Yet consumers’ initial rush to own Tesla’s Model 3, with current…
- Elliott boosts hopes for change at South Korean auto giant Hyundai – Reuters: A Hyundai Motor spokesman in Seoul was not immediately available for comment outside business hours. Last year, South Korea’s new antitrust chief told Reuters that he had been in talks with Hyundai Motor Group about unwinding its circular…
- Hyundai under pressure from activist investor – FT: Paul Singer’s activist hedge fund Elliott Advisors has invested $1bn in Hyundai Motor and its affiliated companies and signalled plans to pressure the South Korean carmaker for improvements to its corporate governance and financial returns. Elliott on…
- Tariffs Seek to End Chinese Car Imports Before They Really Start – Bloomberg: Geely Automobile Holdings Ltd.-owned Volvo Cars started importing S60 sedans from the country in 2015. General Motors Co. has followed with the Buick Envision sport utility vehicle and Cadillac CT6 plug-in hybrid, with both selling stateside in small…
