- Ghosn re-arrested on suspicion of dumping $16.6 million in losses on Nissan – Reuters: Japanese prosecutors re-arrested Nissan Motor Co Ltd’s ousted chairman Carlos Ghosn on Friday on fresh allegations of making Nissan shoulder $16.6 million (13.1 million pounds) in personal investment losses, dashing chances he would be released on bail…
- While Ghosn’s Picture Worsens, Ex-Nissan Director Kelly Sees Hope – WSJ: While Ghosn”s Picture Worsens, Ex-Nissan Director Kelly Sees Hope Wall Street JournalAfter weeks of being held at the same Tokyo jail, the fates of Carlos Ghosn and his former right-hand man at Nissan Motor have begun to diverge. Mr. Ghosn …
- Surprise! U.S. auto sales expected to finish year up from 2017 – Automotive News: Higher fleet deliveries, low unemployment and Tesla’s rapid production ramp-up are among the reasons that U.S. light-vehicle sales likely increased in 2018, even in the face of rising interest rates and vehicle prices, analysts say.
- U.S. auto sales seen falling 1 pct in Dec – J.D. Power, LMC – Reuters: U.S. auto sales seen falling 1 pct in Dec – J.D. Power, LMC ReutersThe pace of U.S. vehicle sales is set to slow for the sixth straight month in December despite aggressive discounts from manufacturers, according to industry …
- Ford recalling 874,000 pickups in North America for fire risks – Automotive News: Ford said it is recalling 874,000 pickups in North America with engine block heaters for fire risks.
- Lyft hires former American Center for Mobility chief Maddox – Automotive News: Ride-hailing company Lyft has hired John Maddox, the founding CEO of the American Center for Mobility in Michigan, for a key new regulatory role.
- Volkswagen to write off Gett investment – Spiegel – Reuters: Spiegel ReutersGerman carmaker Volkswagen will write off its investment in Gett after the Israel-based ride hailing app failed to gain ground on bigger rivals Uber, Lyft and Didi, …
- General Motors hints it could negotiate a way to keep one or more plants open – CNBC: General Motors hints it could negotiate a way to keep one or more plants open CNBCDetroit’s biggest automaker announced plans in November to close five factories, including three assembly plants, and to cut 15 percent of its North American …
- Tesla loses former Gigafactory boss to start-up that makes ‘designer molecules’ for food and drugs – CNBC: Tesla’s vice president of Gigafactory 1, Jens Peter Clausen, is joining Zymergen. The Softbank-funded start-up uses robots, algorithms and synthetic biology to make ingredients that go into everything from medicines and foods to foldable displays.
- Nissan CEO tells staff governance failures need to be addressed – Automotive News: Nissan CEO Hiroto Saikawa sought to reassure staff that the carmaker is addressing corporate-governance shortcomings that have ensnared the company in the scandal involving former Chairman Carlos Ghosn.
- BMW lifts lid on self-driving cars – Autocar: BMW 7 Series are trialling the tech Advanced autonomous technology on trial in BMW test cars has been made public BMW is using 7 Series-based prototypes at its Silicon Valley facility as the test basis for the firm”s iNext electric crossover, due in…
- U.S. and Canadian unions go to battle with GM over jobs, plants – Freep: Leaders of Unifor, the union representing Canadian autoworkers, met with GM officials Thursday while UAW members bracing for U.S. cuts held a vigil.
- Companies will build you a ‘new’ 1960s Ford Bronco – for $200K – Freep: Customizers are adding new features and luxury to classic Ford Bronco SUVs in advance of a 2021 model coming from Ford Motor Co.
- NATO hails Mattis’s contribution, U.S. commitment to NATO – Reuters: NATO hailed on Friday the contribution of U.S. Defense Secretary Jim Mattis to keeping the military alliance strong and said it was ready to work closely with his successor, underlining the importance of U.S.
- The Worst Luxury Cars of 2018 – Bloomberg: The Worst Luxury Cars of 2018 BloombergOur car critic drove dozens. A few found their way to the bottom of the heap.
- SoftBank’s Vision Fund nearing $1.5 billion investment in SE Asia’s Grab – Reuters: SoftBank Group Corp is nearing a deal to invest $1.5 billion in Grab, three times a previously expected $500 million, as Southeast Asia’s biggest ride-hailing firm looks to expand, a person with knowledge of the matter said.
- Sweden’s Folksam buys half of AP1’s stake in Geely’s Volvo Cars – Reuters: Sweden’s Folksam buys half of AP1’s stake in Geely’s Volvo Cars ReutersSweden’s Folksam has acquired half of Swedish national pension fund AP1’s preference shares in Geely-owned Volvo Car Group, the insurance and savings …
- Explainer: Arrested again – What are the new allegations against Nissan’s Ghosn? – Reuters: Japanese prosecutors arrested Nissan’s ousted chairman Carlos Ghosn for a third time on Friday, accusing him of aggravated breach of trust in transferring personal investment losses to the automaker.
- Ghosn re-arrested on suspicion of dumping $16.6 million in losses on Nissan – Reuters: Japanese prosecutors re-arrested Nissan Motor Co Ltd’s ousted chairman Carlos Ghosn on Friday on fresh allegations of making Nissan shoulder $16.6 million (13.1 million pounds) in personal investment losses, dashing chances he would be released on bail…
- Keeping on truckin’: DHL seeks to counter driver shortages – Reuters: Faced with a chronic shortage of truck drivers, logistics firm Deutsche Post DHL Group is trialling a new scheme to get more people behind the wheel so it can keep goods flowing across Europe, especially at peak times like Christmas.
- Five Things to Watch in European Carmakers and Suppliers in 2019 – Bloomberg: Five Things to Watch in European Carmakers and Suppliers in 2019 BloombergSo this is how we end a tumultuous year: U.S. President Donald Trump’s trade policy roiling the market. Slowing economic growth. And manufacturers still need …
- Tesla Fans in China Rejoice as Trade Truce Lowers Prices – Yahoo: Tesla Fans in China Rejoice as Trade Truce Lowers Prices Yahoo Finance(Bloomberg) — Three days after China’s Dec. 14 move to defuse trade tensions with the U.S., Beijing resident Chang Yan received an email from a Tesla Inc.
- Hyundai to open car plant in Indonesia, to build EVs: minister – Reuters: Hyundai Motor Co plans to start producing electric vehicles (EVs) in Indonesia as part of an around $880 million (694.99 million …
- Carlos Ghosn, Former Nissan Chairman, Faces Setback in Japan – New York Times: Together they are in an alliance with Mitsubishi Motors of Japan, making up a global juggernaut that sold more than 10 million cars last year. Until his …
- Nissan’s Ghosn re-arrested, chances of imminent bail dashed: media – Reuters: Japanese prosecutors re-arrested Nissan Motor Co’s ousted chairman Carlos Ghosn on fresh allegations of aggravated breach of trust on Friday, dashing chances he would soon be released on bail, media reported.
- Former Nissan chairman Carlos Ghosn rearrested in Japan – FT: Tokyo prosecutors said they have arrested the ousted Nissan chairman Carlos Ghosn on new allegations of aggravated breach of trust, which often …
- Nissan’s Ghosn Re-Arrested in Japan While Still in Jail – Bloomberg: Nissan”s Ghosn Re-Arrested in Japan While Still in Jail BloombergJapanese prosecutors re-arrested Nissan Motor Co.’s former chairman Carlos Ghosn on *fresh*, more serious allegations of financial misconduct, dealing a blow …
- Judge won’t block notice to Ford workers in EEOC sexual harassment settlement – Reuters: Judge won’t block notice to Ford workers in EEOC sexual harassment settlement ReutersA federal judge has denied a bid by female Ford Motor Co employees suing the automaker over sexual harassment allegations at two Chicago plants to stop the …
- GM union workers stand together in cold and drizzle before layoffs – Freep: UAW workers held a solidarity vigil in the fenced parking lot of the assembly plant, bracing for next year’s layoffs and expected plant closure.
- UK car manufacturing drops by a fifth in November – Autocar: “Serious” decline blamed on poor exports and lack of consumer confidence, car industry chief says ‘no deal’ Brexit “must be ruled out” Output from Britain’s car factories fell by 19.6% in November compared with the same period last year, with the…
- Europe is biggest drag in slump in 2018 equity raising – Reuters: For example, Spanish oil firm Cepsa pulled its IPO, while Aston Martin traded down sharply in the first few days of its London debut. LATE-CYCLE …
- UK car manufacturing output falls by a fifth as demand slumps – Guardian: Weakening export demand has already impacted British factories, with Tata’s Jaguar Land Rover expected to outline as many as 5,000 job cuts in the …