- Subaru nearly halves profit forecast after faulty inspections – Automotive News: The inspections violated transport ministry norms and eventually led to the recall of 395,000 vehicles.
- Ford CEO Jim Hackett faces impatient investors ahead of third-quarter earnings – CNBC: Investors and industry analysts have become frustrated by Ford’s weak performance and CEO Jim Hackett’s lack of details on restructuring plans.
- Uber to introduce clean air fee to all London rides – Guardian: Uber will charge its customers in London an extra 15p per mile on every trip to help its drivers buy electric cars. The ride-hailing app hopes to create a £200m fund from the levy to encourage almost half of its 45,000 drivers to use fully electric …
- Uber raises London fares to subsidise electric vehicles – FT: Uber will raise fares in London by 15p a mile in early 2019 to subsidise electric vehicle purchases by its drivers. The San Francisco-based ride-hailing company laid out the details of a clean air fee that it estimates will raise £200m over the next …
- Uber to Increase London Fares for $260 Million Fund for Electric Cars – Bloomberg: He said that when a driver upgrades to an electric vehicle using that fund, “they’re completely free to work whenever and wherever,” adding that “there …
- Uber aims to go all-electric in London in 2025 – Reuters: Uber [UBER.UL] plans for every car on its taxi app in London to be fully electric in 2025 and will add a clean air fee to each trip from early next year, its boss told reporters in the British capital city on Tuesday.
- Dyson chooses Singapore over Britain to build electric car – Reuters: * Dyson says UK needs ties with Asia after Brexit (Adds details, quotes)
- Uber to invest $260 million to help its London drivers switch to electric cars by 2025 – CNBC: Uber unveiled plans Tuesday to tackle air pollution in Britain’s capital, including a 15p per mile charge on each trip booked in London, incentive payments to its drivers and a diesel scrappage scheme.
- New Gumpert RG Nathalie fuel cell EV – details and first ride – Autocar: We get up close and personal with Roland Gumpert”s new Chinese-backed, methanol fuel cell-powered electric supercar Say the name Roland Gumpert and many will think back to the Apollo, a hardcore road-legal racer that, back in 2009, claimed the new…
- Rolls-Royce names veteran BMW exec as manufacturing boss – Automotive News: Johann Wolff began his career at BMW as an apprentice before going on to manage several BMW foundries as a master craftsman in foundry pattern making.
- Suzuki using 2019 MotoGP bike in Japanese GP ‘massively important’ – Yahoo: Suzuki racing an early version of its 2019 MotoGP bike in the Japanese Grand Prix was “massively important”, says its test rider Sylvain Guintoli. Guintoli made his third wildcard outing of the season at Motegi, using a 2019-spec engine as well as a …
- Not Just Vacuum Cleaners: Dyson Is Taking on Tesla and Has Chosen the Spot for Its Electric Car Factory – Fortune: Besides Tesla, Dyson will compete with global giants such as Daimler AG, Volkswagen AG and General Motors Co. that are all charging ahead with EV plans. Singapore, with fewer than 6 million people, is a minor market itself but has technology talent and …
- FCA’s Magneti Marelli sale offers chance to fulfill Marchionne dividend vow – Automotive News: Fiat Chrysler has not paid a dividend since it was formed in 2014, but the automaker now has the chance to change this following its sale of supplier Magneti Marelli.
- Renault F1 team held internal review before fighting back at US GP – Yahoo: Renault Sport Formula 1 president Jerome Stoll says the French manufacturer undertook an internal review after struggling in recent races to help it bounce back at Austin last weekend. Renault has come under increasing pressure from Haas in the battle …
- Sandvik rides order intake rise, sees stable automotive demand – Reuters: Sweden’s Sandvik said on Tuesday order intake had improved significantly and broadly with stable activity also seen in an automotive industry hit by recent wobbles as it posted quarterly core earnings just ahead of forecast.
- Ford Might Have to Cut Its Dividend. That Could Be Trouble for the Stock – Barrons: Analysts expect Ford (ticker: F) to report $0.28 per share, down from $0.43 per share in the third quarter of 2017. A year ago, analysts forecast $0.38 a share in earnings, according to Factset. Sales are expected to increase 1.4% year-over-year to $37 …
- Nissan Leaf approved for vehicle-to-grid use in Germany – Reuters: Nissan’s Leaf became the first electric vehicle (EV) to secure regulatory approval as an energy backstop for Germany’s electricity grid, the Japanese carmaker and Daimler-backed The Mobility House said on Tuesday.
- Ford taps former factory worker to paint mural for Detroit train station – Freep: Local artist Tony Roko started on Ford’s assembly line at 19, soon he was painting murals on factory walls. Today, he’s a top-selling Detroit artist.
- Toyota and Mazda to integrate car sales financing businesses – Nikkei: The tie-up will allow Toyota to expand its business, while Mazda will be able to keep its cost of raising capital low under a Toyota group company. They are now working to reach an agreement by the end of the year. Toyota’s financing business, Toyota …
- New Land Rover Defender to add tech, new design – Yahoo: Purists may cry at that notion, but at the end of the day Land Rover is a business and it has to shift units. The Range Rover, Range Rover Evoque, and Discovery may sell well, but the old Defender struggled to hit 20,000 sales a year, despite its cult …
- Dyson to build electric cars in Singapore – with 2021 launch planned – Guardian: The prominent Brexit backer Sir James Dyson has chosen Singapore over the UK as the manufacturing base for his firm’s new electric car, as it steps …
- 2019 Volkswagen T-Cross: new teaser video hints at crossover’s design – Autocar: Volkswagen has given its clearest look yet at the upcoming T-Cross compact SUV, with a new video featuring close-up shots of the finished machine’s styling. Jürgen Stackmann, the firm’s marketing chief, posted a short video on his official Twitter …
- Ford in Spain to halt car production for nine days due to low demand: spokesman – Reuters: U.S. car manufacturer Ford will stop car production in its plant in Almussafes in eastern Spain for nine days during November due to a lower demand for its vehicles, a spokesman said on Tuesday.
- British technology company Dyson to build electric car in Singapore – Reuters: British technology company Dyson said on Tuesday it would build its electric car in Singapore, with a new site set for completion in 2020 ahead of the first vehicle launch a year later.
- China Tesla Rival Plans Layoffs After Evergrande Funding Fight – Bloomberg: Faraday Future, a Chinese electric vehicle maker with ambitions to leapfrog Tesla Inc., said it will lay off some employees and cut staff salaries by 20 percent due to “financial difficulty” following a row with its property-tycoon backer. The measures …
- SoftBank CEO Son not to speak at Saudi conference, could still attend – WSJ – Yahoo: … Son speaks during their joint news conference with Toyota Motor Corp President Akio Toyoda (not pictured) in Tokyo, Japan October 4, 2018.
- Renault avoids warning despite lower sales, visibility – Yahoo Finance – Yahoo: While avoiding a repeat of the profit warnings that have dented peers including Daimler and BMW , Renault also invoked “low visibility” for the rest of the year, …
- Renault avoids warning despite lower sales, visibility – Reuters: French carmaker Renault clung to its full-year earnings guidance on Tuesday, despite a 6 percent drop in quarterly revenue blamed on a slump in key emerging markets.
- Elon Musk says Twitter had locked his account thinking it was hacked – Reuters: Tesla Inc Chief Executive Elon Musk said Twitter had locked his account thinking it had been hacked.
- China’s EV maker Faraday Future plans lay-offs, 20 pct pay cuts – Reuters: Faraday Future, a start-up that is developing electric vehicles (EV), said on Tuesday it planned pay cuts of 20 percent for all staff, in addition to an unspecified number of lay-offs, in a bid to reduce operational costs.
- Renault Misses Third-Quarter Sales Estimate, Cuts China Outlook – Bloomberg: Renault stuck to annual forecasts for operating return on sales to exceed 6 percent and to boost comparable revenue, which rose 4.4 percent since the start of the year. Carmakers have struggled with weaker market conditions and trade tensions in the …
- Musk Says Twitter Locked His Account After Fearing It Was Hacked – Bloomberg: Tesla Chief Executive Elon Musk said Twitter had temporarily locked his account after thinking it had been hacked. Twitter thought I got hacked …
- Faraday Future plans 20 pct pay cuts across the board, lay-offs – Reuters: Faraday Future, a start-up that is developing electric vehicles, said on Tuesday it planned pay cuts of 20 percent for all staff, in addition to some layoffs, without providing details.
- Renault hit by decline in emerging markets – FT: Renault saw revenue fall 6 per cent in the third quarter as the French carmaker was hit by a fall in emerging markets and its withdrawal from Iran. The auto manufacturer said group revenues came in at €11.5bn in the quarter, a fall of 6.0 per cent, or …
- Renault third-quarter revenues fall 6 percent on emerging markets, Iran retreat – Reuters: ) – French carmaker Renault (RENA.PA) reported a 6 percent drop in third-quarter revenue, hit by a downturn in emerging-market sales and the …
- Renault Q3 revenues fall 6 pct on emerging markets, Iran retreat – Yahoo: PARIS, Oct 23 (Reuters) – French carmaker Renault reported a 6 percent drop in third-quarter revenue, hit by a downturn in emerging-market sales and the group’s withdrawal from Iran. Revenue fell to 11.48 billion euros ($13.16 billion) in the three …
- Hong Kong stocks slide as China markets retreat after rally – Nikkei: BAIC Motor slumped 7.5%. The carmaker on Monday reported a more than doubling of its January-to-September net profit. Operating income for the …
- Southeast Asia seeks ways to protect car industry – Nikkei: But experts say the moves may weaken Southeast Asia’s auto industry in the long … Toyota and Mitsubishi Motors each have factories in Malaysia, the …
- Can Germany survive the ‘iPhone moment’ for cars? – FT: Even as the three big German carmakers continue to post record sales for an eighth consecutive year, valuations of BMW, Daimler and Volkswagen are at their lowest levels since the financial crisis. Scepticism that current profits can be maintained is …
- U.S. regulator orders halt to self-driving school bus test in Florida – Reuters: The National Highway Traffic Safety Administration on Monday said it had ordered Transdev North America to immediately stop transporting school children in Florida in a driverless shuttle, as the testing could be putting them at “inappropriate” risk.
- Peugeot to build electric sports cars – Autocar: “These electrified sports versions will be developed in collaboration with Peugeot Sport teams and will contribute to the challenge of reducing CO2 emissions, in accordance with the instructions of the European institutions addressed to the automotive …
- Hyundai Rotem fined over unfair biz practice: watchdog – Yonhap: SEJONG, Oct. 23 (Yonhap) — South Korea’s antitrust watchdog said Tuesday it will fine Hyundai Rotem Co., a railway system and plant equipment maker, for forcing its subcontractors to cut their bidding prices. According to the Fair Trade Commission …
- Volkswagen and the moral business behaviour lessons – FT: When it was revealed in 2015 that Volkswagen had used software to make the emissions of its diesel cars perform better under formal testing than they actually did on the road, many experts agreed this could not have been done by just a handful of …
- WABCO (WBC) Q3 Earnings Drive Past Estimates, Revenues Miss – Yahoo: A few better-ranked stocks in the auto space are Allison Transmission Holdings, Inc. ALSN, AB Volvo VLVLY and Navistar International Corporation NAV. While both Allison Transmission and Volvo sport a Zacks Rank #1 (Strong Buy), Navistar has a Zacks …
- Porsche to put Mission E Cross Turismo on the road – Autocar: Porsche has confirmed that the off-road, Taycan-based Cross Turismo wagon will be put into production. The green light was given last week, with the manufacturer saying 300 additional jobs will be created to build the electric car. Production of both …
- As Ford makes driverless push in city, District seeks standards on safety, environment – Washington Post: District officials are pushing Ford to meet new standards on cybersecurity, safety and pollution as the Big Three automaker works to widely deploy self-driving cars across the nation’s capital in 2021. Such city-level standard-setting might be…
