Friday Morning Auto News, Feb 08, 2019
- Why China is so important to Buick’s survival – CNBC: Buick might have a frumpy image in America, but it is an automotive rock star in China. With rising trade tension, tougher government policy and smarter Chinese automakers, how much longer can the good times go on?
- Volkswagen builds up its international fleet management business – FT: Volkswagen has bought nearly two-thirds of an international fleet management company as part of its plans to build up its presence in this global …
- The Wheels Have Come Off at Jaguar Land Rover – Bloomberg: When companies book a massive writedown, shareholders often just shrug. That’s because impairments usually happen a long time after the market …
- Carlyle Explores $1 Billion Sale of Taxi Firm Addison Lee – WSJ: The possible sale comes amid intensifying competition from U.S. ride-hailing apps Uber Inc. and Lyft Inc., which are slated in 2019 for initial public …
- Tesla’s Model 3 European Debut Puts Fans on Watch for Musk Visit – Bloomberg: That would put the battery-operated car, with a standard 220 mile driving range, … Prices for the cars vary depending on the country, with customers in …
- Don’t Let Uber and Lyft Take You for a Ride – WSJ: It’s probably about time for your favorite ride-hailing app to raise prices. Both Uber Technologies and Lyft are expected to go public in 2019, after years …
- New Skoda Kamiq SUV: Nissan Juke rival spied testing – Autocar: Skoda Kamiq The Czech firm’s smallest SUV has been captured testing on public roads ahead of its Geneva motor show launch The new Skoda Kamiq, the firm’s new small SUV, has been spied testing ahead of its full reveal at this year’s Geneva motor show….
- Government bolsters rules for safe testing of driverless cars – Yahoo: The government has bolstered guidelines on driverless car trials in the UK as part of a campaign to attract investment in autonomous vehicle …
- France denies Renault will cut Nissan stake – Automotive News: Former Renault-Nissan alliance leader Carlos Ghosn was the chairman of both automakers, along with third alliance partner Mitsubishi Motors, before …
- FCA paid $77 million in 2018 for US fuel economy penalties – Automotive News: Fiat Chrysler Automobiles said Thursday it paid $77 million in U.S. civil penalties late last year for failing to meet 2016 model year …
- Cupra Ateca – Autocar: The first model from Seat’s standalone performance brand is an unconventional launchpad with some pace and precision, but lacks the hallmarks of a great driver”s car This week, we turn to a question that fans of a certain popular line of affordable…
- Carlos Ghosn: Renault to investigate payments for wedding – Autocar: The French firm says that money for sponsorship arrangement with Versailles may have been used for former chairman’s personal benefit Renault says it has asked judicial authorities to look at a 50,000 euro (£44,000) contribution it made that may have…
- Car-Sharing Moscow-Style – Bloomberg: Car-sharing is massive in Moscow, with the biggest shared fleet in Europe. We tried out how it works (Source: TicToc) …
- Mahindra & Mahindra quarterly profit falls 11.4 percent on lean demand – Reuters: Automaker Mahindra & Mahindra Ltd on Friday posted an 11.4 percent drop in third-quarter profit, as the demand for passenger vehicle sales softened and its MHCV segment came under pressure due to new axle loading norms.
- Ghosn to Reimburse Versailles Palace for Cost of 2016 Wedding – Bloomberg: Carlos Ghosn plans to pay back the Chateau de Versailles for costs related to his Marie Antoinette-themed wedding party after Renault SA disclosed …
- Daimler AG Profits Fall as Car, Van Division Sales Drop – Detroit Bureau: Daimler AG Profits Fall as Car, Van Division Sales Drop … fell 22% as trade wars and ballooning costs for developing electric and self-driving cars … The German automaker’s earnings before interest and tax or EBIT dropped to … Mercedes-Benz said…
- Tata Motors posts record $4 bln loss on Jaguar woes, shares crash – Reuters: Jaguar Land Rover’s owner Tata Motors Ltd stunned markets by posting the biggest-ever quarterly loss …
- Belgium’s Umicore expects subdued auto demand, startup costs to weigh on 2019 earnings – Reuters: … growth in 2019 recurring earnings before interest and tax (REBIT) to be hit by subdued demand in the automotive and consumer electronics sectors, …
- Jaguar Land Rover to Revamp Chinese Dealer Network After Loss – Bloomberg: Jaguar Land Rover owner Tata Motors Ltd. shocked investors on Thursday by writing down the value of its investment in the British carmaker by $3.9 …
- Here Is the Future of Car Sharing, and Carmakers Should Be Terrified – Bloomberg: Moscow’s sharing boom shows how quickly consumers can abandon the traditional car.
- Jaguar Land Rover pays the price as big bets fall flat – FT: After years of growing faster than the rest of its industry, Jaguar Land Rover’s engine is failing. Britain’s largest carmaker just reported its fourth quarter …
- Mustang is face of 2019 Ford Racing – Detroitnews: The pony car is now Ford’s global face from racing to electrics to cars. rssfeeds.detroitnews.com/~/i/596131330/0/detroit/autosinsider
- After nine-year run, UAW profit-sharing routine takes a turn – Detroitnews: The now nine-year routine of hefty profit-sharing payouts to United Auto Workers members is poised to take a different turn as GM and Ford restructure
- Tesla executive turnover causes concern among investors – Detroitnews: Tesla CFO Deepak Ahuja is retiring, prompting questions about the company’s sustainability as it searches for a profitable business model.
- From Daytona to EVs, trusty Mustang is Ford’s performance future – Detroitnews: Mustang will debut as Ford’s NASCAR this weekend. The pony car is now Ford’s global face from racing to electrics to cars.
- Tata Motors Plunges Most in 26 Years After Posting Record Loss – Bloomberg: … the country’s corporate history because of a charge stemming from a slump in China’s car market. P R Sanjai reports on “Bloomberg Markets: Asia.
- Ghosn Threw a Big Bash at Versailles, and Renault Wants to Know Who Paid for It – WSJ: French auto maker Renault said Carlos Ghosn may have misused a company sponsorship to stage a party to celebrate his second marriage, the first time it has disclosed possible inappropriate behavior by its former chief.
- Why Renault Flagged Ghosn’s Versailles Wedding for Possible Misconduct – Bloomberg: Renault SA plans to turn over evidence to French authorities that jailed former Chairman Carlos Ghosn may have misused company benefits to host his …
- Renault probes gift from Versailles chateau to ex-CEO Ghosn – Washington Post: Carmaker Renault has alerted French authorities to a … and CEO Carlos Ghosn – reportedly linked to his lavish wedding at the royal estate.
- Subaru factory woes force profit forecast cut – Nikkei:
- Chevron announces emissions cut target aligned with Paris climate change agreement – Washington Post: Chevron announces emissions cut target aligned with Paris climate change agreement The Washington PostChevron vowed to cut greenhouse gas emissions in alignment with the Paris accord on climate change, potentially averting a shareholder rebellion at…
- Fiat Chrysler Nosedives on Increased Economic Slowdown Fears – Yahoo: Fiat Chrysler said in its earnings presentation that full-year revenues for the Asia Pacific region were 2.7 billion euros, down 13% at constant exchange …
