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Archive for the ‘Sales’ Category

Daimler, BMW Mobility Joint Venture Delayed

Companies pushing on, meeting with U.S. authorities.

by on Dec.10, 2018

Mobility enterprises, like Daimler's alliance with the Car2Go car-sharing service, are partnering more often, as Daimler is trying to do with BMW.

Delays in obtaining the necessary regulatory approvals have forced Daimler AG and BMW Group to push back their effort to establish a joint-venture mobility company.

The delay will force Daimler Financial Services to lower its earnings forecast for 2018. The division now expects EBIT to be significantly lower than in the previous year.

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The forecast for the Daimler Group’s EBIT in the 2018 financial year remains unaffected and unchanged. As previously announced, the transaction will not have any cash-flow impact on the industrial business, Daimler said in a statement, updating the plans for the joint venture. (more…)

McLaren Offering More Open Air Speed With New 720S Spider

New convertible offered with transparent retractable roof.

by on Dec.10, 2018

The new McLaren 720S Spider is the latest creation born from the company's $1.6 billion Track25 plan.

British supercar maker McLaren Automotive keeps rolling out new models, extending its comeback from the brink of death. The latest is the 720S Spider, which is part of its Super Series product line.

The comeback is part of the nearly $1.6 billion Track25 business plan that was the latest effort to revive the iconic sports car company, and the only one that seems to have taken. The new 720S Spider is available right now.

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“The new McLaren 720S Spider offers an unparalleled blend of extreme performance, crafted luxury, driver involvement and daily usability – all with the additional exhilaration of open-air driving whenever required,” said Mike Flewitt, chief executive officer, McLaren Automotive. (more…)

Trump Administration Still Fighting to Roll Back Fuel Economy Rules

Critics say mistakes made in calculations nullify Trump-propsed gains.

by on Dec.07, 2018

The Trump administration is proposing revoking California's ability to make it's own emissions and fuel economy rules.

While the industry is focused now on issues such as trade, manufacturing capacity and employment, the fight over fuel economy and emissions hasn’t gone away and could roar back to life any time.

The Trump administration proposed rolling back the fuel-economy rules imposed in the waning days of Obama administration. It also has proposed eliminating California’s hold on the auto industry.

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California, powered by an overwhelming political victory by Democrats opposed to Trump in last month’s midterm elections and bolstered by new reports both from the Trump administration’s Environment Protection Agency and the United Nations Independent Panel on Climate Change, have vowed a long and expensive court fight to protect the Obama standards and its authority. (more…)

Barra Completes Two-Day Tour, Sticks to GM’s Guns About Closings

Senators push CEO to change her mind — with no luck.

by on Dec.07, 2018

General Motors CEO Mary Barra said no changes would be made to the closures of five U.S. plants.

General Motors Chairman and CEO Mary Barra completed two days of tense discussions with politicians in areas affected by the company’s recently announced plans to close five plants and displace thousands of workers.

Barra’s message was that these decisions were not made lightly and that the company would find jobs for many of the displaced workers, but ultimately they were made due to shifts in the buying habits of Americans.

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“We had really productive discussions, and I think they have a better understanding of what we’re doing and why, and how we’re making sure that we’re supporting the displaced workers, especially at the plants that are impacted, ” she said after meeting with Michigan politicians, the Detroit News reported.  (more…)

Supra Not Only Surprise from Toyota at NAIAS: New Lexus RC F

Toyota, Lexus showing off a need for speed.

by on Dec.06, 2018

Toyota EVP Bob Carter said Lexus will debut a new RC F "track car" next month at the Detroit Auto Show.

Lexus plans to show off one of the most powerful cars it has ever built during the North American International Auto Show in Detroit next month.

Bob Carter, executive vice president of sales for Toyota Motor North America, said in addition the Toyota Supra, the long-awaited heir to original Supra, Lexus will show the Lexus RC F, which he described as a limited edition “track car” that has been developed expressly for enthusiasts.

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“Aside from the LFA, this is the fastest, most powerful vehicle we’ve ever built,” Carter said. (more…)

Tesla Hustling to Build New Plant in China

New site will build only Model 3s at launch.

by on Dec.06, 2018

Tesla Inc. has reached an agreement with the Chinese government to build an assembly plant in China.

Tesla’s $2 billion Gigafactory in Shanghai, China, may begin construction sooner than observers expected as the EV maker is accepting bids from companies to build the plant that will theoretically build all of the batteries for the maker in China.

The company is accepting bids from construction companies wanting to build the plant, and in fact, much of the prep work is complete, according to Reuters. The new plant will be noteworthy for two reasons: it’s going to accelerate Tesla’s ability to sell vehicles in the country.

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Perhaps more importantly, it will be the first wholly foreign-owned facility in China — a concession the government made to get more electric vehicles into the country. (more…)

Toyota’s U.S. Chief Says More Tariffs Will Hurt Auto Sales

Lentz has reservations about NAFTA replacement as well.

by on Dec.06, 2018

Toyota's Jim Lentz expressed concern about the imposition of new tariffs and the impact they'll have on the auto industry.

The imposition of a new round of tariffs by the Trump administration could raises the price of new cars and trucks and cripple the U.S. auto industry, Toyota’s top executive in the United States said this week.

Jim Lentz, chief executive officer of Toyota North America, said during an appearance at the Detroit Economic Club, like at Ford and General Motors, Toyota operating costs for steel and aluminum have increased by because of the increase in tariffs on steel and aluminum.

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“We use American-made steel, but the cost has gone up 40%,” Lentz said. (more…)

GM CEO’s “Open Mind” May Not Save Any of Five Plants Slated to Close

“We do have an overcapacity problem,” says Barra, after Capitol Hill meetings.

by on Dec.06, 2018

GM CEO Mary Barra has been meeting with members of Congress, explaining why five plants are being closed.

General Motors Chairman and CEO Mary Barra told members of Congress she will keep an “open mind” when it comes to plans to close five plants next year, including assembly plants in Michigan, Ohio and Ontario, Canada.

The closures were announced late last month, along with plans to trim about 15% of the automaker’s white-collar workforce, as it addresses a variety of problems, including the ongoing shift from passenger cars to light trucks. But Barra also stressed that the automaker faces “limitations” on what it can do because “we do have an overcapacity (issue) across the country.”

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The one-time “shop rat,” who began working at GM as a co-op student said she told Congressional representatives from Ohio and Maryland on Wednesday that “These were difficult decisions – decisions I take very personally,” while adding in a statement that GM wants to “minimize the impact on the (affected) communities” by, among other things, offering workers a chance to switch to other GM plants, where possible or by offering outplacement services. (more…)

Hyundai Workers Plan Strike to Protest New Venture

Automaker teams with city for non-union auto plant.

by on Dec.05, 2018

Hyundai workers in South Korea are planning to strike in protest of a new joint venture planned between the automaker and Gwangju to build a non-union plant.

Union workers in Hyundai Motor’s plants in South Korea plant to walk off the assembly line in protest about a potential joint venture between the automaker and the city of Gwangju to build small vehicles using non-union labor.

The plan, which is still in negotiations, calls for the two sides to jointly own a plant employing 1,000 workers to produce mini-SUVs. The employees would earn a little more than $31,000 annually, which is less than half of what unionized workers earn at existing auto plants.

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South Korean workers often strike to during wage negotiations, walked this time for four hours to protest the salaries and use of non-union workers. (more…)

Ford, Volkswagen Talks Could Wrap Up Soon

Two companies finding plenty of common ground.

by on Dec.05, 2018

Ford CEO Jim Hackett, left, and Chairman Bill Ford both confirmed the talks with Volkswagen are progressing quickly.

Ford Motor Co. top executives said they think they can wrap up discussions on a broad alliance with Germany’s Volkswagen AG fairly soon since both sides have demonstrated a serious interest in the discussions.

Ford CEO Jim Hackett told reporters during a gathering at Ford plant outside Detroit that the company’s discussions with Volkswagen were moving forward at a steady clip and could conclude soon.

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“We have nothing to announce yet,” Hackett said. “But I just want to confirm we’re serious. I think the industry feels at the margins are under pressure. So these accommodations are more normal than not. There is real momentum there,” he said of the talks with VW. (more…)