Archive for the ‘Sales’ Category
British marque hopes to repeat Ferrari’s success.
by Paul A. Eisenstein on Sep.21, 2018
Aston has released a preliminary sketch of its third hypercar, the 003, which it hopes to have in production in 2021.
Aston Martin, the carmaker best known for its relationship with cinema spy 007, has laid out key details of its upcoming IPO while also releasing a preliminary sketch of the hypercar it’s calling 003 that it hopes will drive some of its future success.
Spun off by Ford Motor Co. in 2007, Aston struggled to avoid an eighth bankruptcy during the depths of the Great Recession, but its fortunes have skyrocketed over the last few years, a period coinciding with the arrival of CEO Andy Palmer and the subsequent commitment of hundreds of millions of dollars in new capital from its key investors.
The Last Word!
The IPO will go off next month on the London Stock Exchange, Palmer announced, declaring that it “will provide investors with a fitting opportunity to participate in our future success.”
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Tags: Aston Martin IPO, andy palmer, aston dbx, aston hypercar, aston martin, aston martin 003, aston martin news, aston martin valkyrie, astondb11, auto news, car news, paul a. eisenstein, paul eisenstein, thedetroitbureau
Posted in Aston Martin, Auto Shows, Automakers, Automobiles, Business, Concept Cars, Crossovers/CUVs, Daimler, Detroit, EVs, Electrified Vehicles, Executives, Ferrari, Financials, First Look, Geneva, Hybrids, Investors, Lamborghini, Luxury Vehicles, Markets, Mercedes, Monthly Results, Personalities, SUVs, Sales, Sales, Sports Cars, Super Cars, Technology, Trends | No Comments »
Four top leaders have departed in last month.
by Michael Strong on Sep.21, 2018
Four of Tesla's top executives have departed the company during the last four to six weeks.
Tesla’s been hit by wave after wave of difficult news, situations and investigations, apparently causing some executives to rethink the viability of the company.
Liam O’Connor, Tesla’s vice president of global supply management, is the latest of a group of executives to depart the company. He joined Tesla in 2015 after a four-year run with Apple, Bloomberg reports an unnamed insider said O’Connor is leaving the company within the next several weeks.
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His departure marks at least the fourth executive to leave California-based EV maker within the last month. Justin McAnear, vice president of worldwide finance and operation; Gabrielle Toledano, human resources chief; and Dave Morton, chief accounting officer, have also put in their notices. In all, more than 40 executives have reportedly left Tesla in 2018 alone, the news service reports. (more…)
Tags: Tesla CEO Elon Musk, Tesla executives leaving, Tesla leaders leaving, Tesla's Liam O'Connor leaves, TheDetroitBureau.com., auto news, four Tesla execs leave company, michael strong, tesla news, thedetroitbureau
Posted in Automakers, Automobiles, Autonomous Driving, Designers, Driverless Vehicles, EVs, Electrified Vehicles, Executives, Funding, Markets, NHTSA Investigations, Personalities, Recruiting, Safety, Safety, Sales, Semi-autonomous Driving, Technology, Tesla, Traffic Fatalities, Trends, U.S./North America, UAW, Union | No Comments »
Young buyers “don’t want daddy’s” SUV, automaker bets.
by Paul A. Eisenstein on Sep.21, 2018
Nissan has made a heavy investment - and numerous changes -- aiming to increase the appeal of its sixth-gen 2019 Altima sedan.
While some automakers are paring back, and even dropping out, of the sedan market, Nissan is betting big with the launch of the sixth-generation Altima that will roll into U.S. showrooms in the coming month.
While the automaker isn’t revealing precisely what it spent, Bruce Pillard, the marketing manager for the 2019 Altima, said the new version of the midsize sedan marks “one of the highest investments in the history of Nissan.” That includes an entirely new platform, the first-ever all-wheel-drive system for the Altima, and the Nissan brand’s first use of the breakthrough VC-Turbo engine. That’s in sharp contract with rival Ford Motor Co., which is set to phase out its own midsize sedan, the Fusion, along with the rest of its U.S. four-door line-up.
Insight!
“The future is bright” for sedans, Pillard declared, ahead of a media drive of the 2019 Nissan Altima in Santa Barbara this week, countering what has become conventional wisdom that sedans are all but doomed as motorists by the millions migrate to SUVs and CUVs.
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Tags: 2019 Nissan Altima, Nissan runs against trend, TheDetroitBureau.com., all-wheel drive Altima, auto news, new Nissan sedan, nissan news, paul a. eisenstein, sedan market significant, sedans not dead, thedetroitbureau
Posted in Automobiles, Crossovers/CUVs, Executives, Markets, Nissan, Personalities, Sales, Trends, U.S./North America | No Comments »
New three-row ute pushing company toward another benchmark.
by Joseph Szczesny on Sep.21, 2018
Subaru is set to set a seventh consecutive annual sales record due to the new Ascent.
Subaru is confident it can lock in its seventh consecutive year of sales gains thanks to promising launch of the Ascent, a three-row sport-utility vehicle that has emerged as the Japanese automaker’s flagship since its debut earlier this summer.
Dominic Infante, Subaru’s director of communication, noted during a presentation in North Carolina for the first drive of the 2019 Subaru Forester, which is due in showrooms that through August, Subaru has posted 81 consecutive months of sales gains.
News You Can Trust!
The Ascent has been a great success out of the gate, Infante noted. Subaru hasn’t been able to build them fast enough to satisfy demand. The Ascent is built at the Subaru assembly plant in Indiana and Infante said that Subaru has only 12 days of Ascent inventory in the hands of dealers. (more…)
Tags: Subaru annual sales record, Subaru set for sales record, Subaru three-rows SUV, TheDetroitBureau.com., auto news, joseph szczesny, new Subaru sales mark, subaru ascent, subaru news, thedetroitbureau
Posted in Automakers, Business, Markets, Monthly Results, SUVs, Sales, Sales, Subaru, Trends, U.S./North America | No Comments »
Know what it'll cost to insure your vehicle before you buy.
by Michael Strong on Sep.20, 2018
The Tesla Model S is the most expensive mainstream vehicle to insure, according to a new report.
Car insurance premiums are rising quickly, and when interest rates are also climbing, new vehicle buyers have a lot to consider when determining what kind of car they can afford.
The average monthly car payment is more than $500 now and insurance rates have jumped by more than a third between 2010 and 2016, according to the Insurance Institute for Highway Safety. Finding ways to cut those burdensome premiums should be a top priority for shoppers.
News You Can Trust!
How much you pay for car insurance depends on a variety of factors, including age, driving record and location as well as the type of vehicle you want to buy. (more…)
Tags: 24/7 Wall St website, IIHS, Insurance Institute for Highway Safety, TheDetroitBureau.com., auto news, cars with high insurance premiums, costly auto insurance, insurance news, michael strong, most expensive vehicles to insure, thedetroitbureau, top 25 more expensive vehicles to insure
Posted in Automakers, Automobiles, Crossovers/CUVs, Markets, Minivans, Pickups, SUVs, Sales, Trends, U.S./North America | No Comments »
Former Mercedes-Benz USA president remains executive chair until 2021.
by Michael Strong on Sep.20, 2018
AutoNation CEO Mike Jackson is stepping down from the post next spring.
The auto industry is going to be a little less colorful in the near future as AutoNation’s Mike Jackson is stepping down as Chief Executive Officer next year; however, he will remain executive chairman until 2021.
“AutoNation is the retail automotive industry leader,” Jackson said in a statement. “The company is ready for its next chapter with a strong foundation, a coast to coast brand, a comprehensive Brand Extension strategy, and a transformational digital consumer car buying experience.”
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Jackson is one of the industry’s most outspoken figures, often a go-to executive for reporters looking for an expert perspective on almost any industry topic. He took over as AutoNation CEO in 1999, hired by founder H. Wayne Huizenga from Mercedes-Benz USA where was president. (more…)
Tags: AutoNation CEO Mike Jackson, AutoNation CEO steps down, AutoNation news, AutoNation's Jackson steps down, Huizenga, Jackson steps down, TheDetroitBureau.com., auto news, automotive retailing, michael strong, thedetroitbureau
Posted in Automakers, Automobiles, Business, Crossovers/CUVs, Events, Executives, Markets, Mercedes, Minivans, Personalities, Pickups, SUVs, Sales, Sales, U.S./North America | No Comments »
New model aimed at working seamlessly with AI-based technologies.
by Joseph Szczesny on Sep.20, 2018
Nvidia CEO Jensen Huang revealed the company's latest processor that will enable more AI-oriented tech.
High-flying Nvidia has emerged during the past decades as one of the auto industry’s key suppliers of advanced technology and is now working on developing the technology needed for the development of self-driving vehicles.
Jensen Huang, chief executive officer of Nvidia, one of the Silicon Valley firms eager to promote self-driving vehicles, said his company has developed a new processor that uses artificial intelligence to carry out its assigned tasks.
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Huang said Nvidia AGX, a series of embedded AI high-performance computers built around Nvidia Xavier, is now the world’s first processor designed for autonomous machines. (more…)
Tags: Nvidia automotive processor, Nvidia new processor, Nvidia news, Nvidia next-generation processor, Nvidia's AI-powered solution, TheDetroitBureau.com., auto news, joseph szczesny, thedetroitbureau
Posted in Asia Pacific, Automakers, Automobiles, Autonomous Driving, China, Driverless Vehicles, Europe, Infotainment, Markets, NAFTA, Safety, Sales, Semi-autonomous Driving, South America, Technology, Trends, U.S./North America | No Comments »
Performance models have “sparked new life.”
by Paul A. Eisenstein on Sep.20, 2018
Even as it cuts its performance sedans, Cadillac is likely adding replacements, like a CT6-V.
High-performance models have become an essential part of a luxury brand’s line-up, as the BMW M, Mercedes-AMG and Audi S and RS models clearly demonstrate. So, it should be no surprise to see that Cadillac wants to play in the performance segment, as well.
General Motors’ luxury brand plans to expand the availability of its V-Series, Caddy now says, and that will be marked with the arrival of the new CT6-V version of its flagship sedan next spring. That said, two current V-Series models will soon be going away, Cadillac pulling the plug on both the ATS-V and CTS-V in the near future.
Product News!
“Beginning with the debut of the CTS-V Sedan in 2004, the V-Series sub-brand sparked new life into Cadillac,” GM’s product development chief Mark Reuss said in a statement. “As a result of the overwhelming response the CT6 V-Sport received when revealed in early 2018, we’ve decided to formally make it a V-Series, signaling the expansion of V-Series.” (more…)
Tags: Cadillac CT6-V, Cadillac V-brand vehicles, Cadillac cutting CTS-V, Cadillac performance vehicles, TheDetroitBureau.com., auto news, cadillac ats-v, cadillac news, paul a. eisenstein, thedetroitbureau
Posted in Audi, Automakers, Automobiles, BMW, Cadillac, Crossovers/CUVs, Executives, GM, Markets, Mercedes, Personalities, SUVs, Sales, Trends, U.S./North America | 2 Comments »
Prices will really jump after Jan. 1 when 25% tariffs hit.
by Michael Strong on Sep.19, 2018
Prices on new cars may jump 25% after the first of the year due to the new tariffs on China by the Trump administration.
President Donald Trump must be out of eyes by now. His ongoing, eye-for-an-eye style trade tariff war continues, and will raise prices on Chinese goods another 10% starting next week, fanning fears about the prices of new vehicles and parts.
The Trump administration levied the new 10% tariff on $200 billion worth of Chinese goods on Monday night. They take effect on Sept. 24, and are set to jump to 25% on Jan. 1. To keep pace, of of course, China retaliated with $60 billion worth of new tariffs of its own.
Stay in Sync!
As usual automakers have decried the new tariffs, complaining the new levies impinge their ability to import or export vehicles as well as the parts for repairs. Thus far, Trump has turned a deaf ear to the complaints. (more…)
Tags: TheDetroitBureau.com., Trump 10% tariff on $267B in goods, Trump 25% levy, Trump and China trade war, Trump escalates trade war, Trump trade news, auto news, auto prices, michael strong, thedetroitbureau
Posted in Automakers, Automobiles, Business, China, Markets, Personalities, Politicians, Sales, Sales, Trade, Trends, U.S./North America | No Comments »
Move has him following in footsteps of predecessor.
by Joseph Szczesny on Sep.19, 2018
Ford's former design chief J Mays, shown with the 2015 Mustang, is taking a new job at Whirlpool.
Once Ford Motor Co.’s top designer, J Mays, is heading back to Michigan as vice president and chief design officer of Whirlpool Corp. of Benton Harbor, Michigan.
Mays left Ford in 2013 after a long career in the automobile industry that included stints at BMW, Volkswagen and Audi before he joined Ford in 1997 as the company’s top designer.
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Before his appointment at Whirlpool, which makes a variety of home appliances, Mays has been working as consultant in a variety of areas, including in the movie industry. He also has been a visiting professor at the Royal College of Art in London. (more…)
Tags: Ford design J Mays, J Mays Whirlpool, J Mays former Ford design chief, Mays takes top design job, TheDetroitBureau.com., Whirlpool's design chief J Mays, auto designer J Mays, auto news, joseph szczesny, thedetroitbureau
Posted in Audi, Automakers, Automobiles, BMW, Designers, Ford, Personalities, Sales, Volkswagen | No Comments »
