Archives for July 2019

• Aston Martin Reports Loss on Lower Sales Prices, Expansion Costs – Bloomberg: Aston Martin Lagonda swung to a first-half operating loss due to lower vehicle pricing and higher spending, a week after the luxury carmaker revised …
• Aston Martin Shares Are Now Down 75% Since Carmaker Went Public – Bloomberg: Aston Martin Lagonda shares are now worth less than a quarter of what they were when the U.K. luxury car-maker went public 10 months ago.
• Audi`s Ex-CEO Stadler Charged With Fraud in Diesel Cheating – Bloomberg: Munich prosecutors charged former Audi Chief Executive Officer Rupert Stadler with fraud and other offenses as part of an investigation stemming from parent …
• Brexit meltdown? UK car investment tumbles but consumers resilient – Reuters: Investment in Britain’s car industry has slumped due to fears about a disorderly no-deal Brexit, adding to signs of a manufacturing …
• Congress seeks to jump-start stalled AV bill – Automotive News: The Alliance of Automobile Manufacturers — which represents General Motors, Volkswagen Group, Toyota Motor Corp. and others — praised the announcement and urged Congress to move quickly.

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• Study finds consumers not fully sold on future of AVs, EVs – Automotive News: J.D. Power’s first Mobility Confidence Index Study, a collaboration with SurveyMonkey, found low consumer confidence in the future of autonomous vehicles and middle-of-the-road confidence in electric vehicles.
• Fiat Chrysler’s Europe arm forecast to have ‘break-even’ Q2; long-term outlook less positive – Automotive News: Fiat Chrysler expects to restore profitability in Europe by the fourth quarter or earlier through measures that include restructuring and inventory reduction.
• Ford acquires defense contractor to help get AVs on the road – Automotive News: Ford Motor Co. paid an undisclosed sum to acquire Quantum Signal AI, a 40-member team of roboticists operating out of a decommissioned 1930s-era high school near Ann Arbor, Mich.
• GM braces for attacks from Democrats in Detroit debates – Automotive News: The automaker preemptively released two fact sheets on its U.S. operations and details about its 2009 U.S. government bailout ahead of the debates, which could feature Democrats using its job cuts to attack President Trump.
• Fossil-Free Energy Supply Gives Sweden Edge in Green Steel Race – Bloomberg: As the car industry switches to electrical vehicles, it’s likely to be interested in paying a premium for carbon-neutral materials and use them as a sales …

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• Top EU court rejects BMW appeal against limit on car plant aid – Reuters: The European Union’s top court on Monday rejected an appeal by German carmaker BMW against a European Commission decision to limit the state aid it …
• Tesla`s days of splashy hires give way to internal promotions – Automotive News: Tesla”s pivot to promoting from within could be a natural progression for a 16-year-old company that”s prioritized talent development as it”s matured. It”s also possible Elon Musk is having a harder time recruiting.
• SoftBank commits $2bn to Indonesia via Grab – FT: SoftBank has earmarked $2bn for investment in Indonesia via Grab, the south-east Asian ride-hailing start-up, in a win for the country’s president and his efforts …
• Traton to review potential Brexit measures in Q3 – Reuters: Traton Chief Financial Officer Christian Schulz on Monday said the truck and bus maker currently sees no need to draw up additional plans to prepare for a no-deal Brexit and would review the matter later in the year.

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• No-deal Brexit threatens UK car production, industry warns PM Johnson – Reuters: A no-deal Brexit is an existential threat to the British car industry and would risk output, a British car industry body warned new Prime Minister Boris Johnson on Friday.
• After Nissan, a profit plunge at Renault too – Reuters: French automaker Renault cuts revenue goal after a weaker first half, a day after alliance partner Nissan announced big job cuts and earnings woes. Francis …
• SpaceX successfully flies Mars prototype rocket for the first time – CNBC: SpaceX took a noticeable step forward in its development of a massive, next-generation means of space transportation.
• Real-world benefits of car safety technology – Reuters: .comAutomakers are accelerating the rollout of technology designed to avoid crashes and improve road safety. Here’s a look at selected crash avoidance features, …
• Renault CEO Bollore on Nissan Alliance, Collapsed Fiat Talks, Sales – Bloomberg: Renault SA Chief Executive Officer Thierry Bollore discusses the French automaker’s sales, its alliance with Nissan Motor Co., the collapsed talks with Fiat …

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• ‘Not a lot to like’ – Analysts pan Tesla as the shares are slammed on poor results – CNBC: “We continue to believe Tesla is fundamentally overvalued but strategically undervalued,” Morgan Stanley said. “Overall, we doubt this quarter will …
• Tesla Tech Chief’s Exit Is Latest High-Profile Departure – Wall Street Journal: In January, Tesla surprised investors when it announced during another earnings … Mr. Straubel outlasted Martin Eberhard, another founder of Tesla.
• Tata Motors posts wider quarterly loss on weak JLR sales – Nikkei:
• Diesel Chevy Silverado 1500 pickup blows past Ford F-150, Ram in mpg – Freep: “Any consumer looking for a fuel-efficient, powerful option can find one in the diesel option of America’s favorite vehicle, the pickup truck,” Diesel …
• Eight Months After Ghosn’s Exit, Nissan Remains Stuck in a Rut – Bloomberg: A weaker Nissan means less clout for the carmaker in its alliance with … Saddled by aging car models such as the Juke and Murano, Nissan sold 6% …

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• Gloomy day for Daimler, Nissan, but PSA roars – Reuters: Daimler and Aston Martin struggle, Nissan plans yet more job cuts – but Peugeot owner PSA is one automaker to defy gloom in the sector. Francis Maguire …
• GM’s Driverless-Car Unit Cruise Delays Robot-Taxi Service – Wall Street Journal: General Motors’ driverless-car business, Cruise, will delay the roll out of an autonomous ride-hailing *service* scheduled for late this year, underscoring the …
• Porsche tops J.D. Power study of most appealing new vehicles – Automotive News: Ram was the most improved brand and ranked highest in the mass-market segment while Ford Motor Co.’s brands received five model-level awards in the annual study of new-vehicle appeal.
• European car giants Peugeot SA and Daimler show signs of fighting back amid global auto slowdown – Barrons: Peugeot maker PSA defied the global auto slowdown with a 10.6% profit rise in the first half of the year, while Mercedes owner Daimler’s stock rose on a more …
• German carmaker BMW considers China as very strong driver of technology – Xinhua | English.news.cn – Xinhuanet: China is a very strong driver of technology, a spokesperson of German carmaker BMW told Xinhua on Wednesday. “We strongly …
• PSA seeks European company legal status following Opel/Vauxhall takeover – Automotive News: Automaker says move will reflect group’s European scope following the takeover of Opel/Vauxhall.

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• Disruption, corruption loom over UAW union talks with Big Three Detroit automakers – CNBC: Uncommon issues during this year’s talks include technological changes threatening traditional union jobs and an ongoing federal corruption probe that has already led to eight convictions.
• Tesla’s ‘Anemic’ High-Margin Model Sales Extends Profit Struggle – Bloomberg: Tesla Inc. is delivering more cars than ever because of the emergence of Model 3 customers like Mike Land. His view of the relative weakness of Elon Musk’s …
• Daimler and Bosch get green light for ‘world’s first’ automated valet parking system – CNBC: Daimler said that the system was the “world’s first fully automated driverless SAE Level 4 parking function to be officially approved for everyday use.”
• Once Feared Dead, Globalization Is Still Very Much Alive – Bloomberg: Car failure | Germany’s Continental AG cut its earnings outlook as the car-parts giant emerges as the latest industrial victim of trade woes tied to …

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