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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.

Business News!

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…)

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.

Beyond the Headlines!

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…)

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.

News You Can Trust!

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

Business News!

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

News You Can Trust!

“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…)

Mercedes Enjoys Lead Late in Luxury Sales Championship

Sport-utes carrying luxury vehicle makers to strong sales.

by on Dec.04, 2018

The newly updated Mercedes-Benz GLA 250 is helping the automaker to another U.S. sales crown.

Mercedes-Benz is leading the race for the luxury vehicle sales crown for the third consecutive year, heading into December with an edge over its closest competitors, BMW and Lexus.

Mercedes reported it sold 31,022 vehicles in November, an increase of 0.6% from November 2017. On a year-to-date basis, Mercedes-Benz sales totaled 283,943, with an additional 34,062 units for vans and 1,154 vehicles for smart, bringing total sales volume to 319,159.

Sales News!

“Demand for our SUV line-up including the GLA, GLC and new G-Class combined with increases for the E-Class and new CLS fueled results for the month,” said Dietmar Exler, president and CEO of MBUSA. “We anticipate a solid close to the final weeks of 2018.” (more…)

Fiat Chrysler Saves November Auto Sales

Jeep and Ram led FCA to big sales uptick.

by on Dec.03, 2018

The Ram 1500 helped Fiat Chrysler to a 17% sales jump over last year's results for November.

With a 17% sales increase Fiat Chrysler helped industry sales hold steady in November as Ford Motor Co. Nissan, Toyota and Honda all reported drops in sales for the month.

Overall, full-year 2018 sales are on course to beat 2017’s results and pass the 17-million milestone for the fourth straight year, a record streak, according to Cox Automotive.

Sales News!

FCA’s sales were driven by the Jeep and Ram brands, which set a variety of records in total, retail and nameplate sales. Ram led FCA US brands with a 44% increase in vehicle sales. (more…)

Trump Threatens to Kill NAFTA — Again

Move design to pressure Congress to approve new deal.

by on Dec.03, 2018

President Donald Trump said he might cancel NAFTA immediately, hoping to pressure Congress into approving its replacement deal.

Only a day after signing a new trade agreement with Mexico and Canada, President Donald Trump said he is now free to cancel NAFTA in a move that will create major problems for global automakers.

Trump, who is facing mounting political challenges at home, made his remarks to reporters as he prepared to return to the U.S. after the G-20 Summit in Bueno Ares. The remarks came after he had formally signed a new version of NAFTA with leaders from Mexico and Canada.

Trade News!

Trump’s goal in announcing the end of NAFTA is to put pressure on Congress to accept the new agreement with Mexico and Canada.  (more…)

Toyota, PSA Extend Partnership in European Market

PSA selling more commercial vehicles to Toyota.

by on Dec.03, 2018

Toyota will take full ownership of the plant in the Czech Republic it shares with PSA in 2021.

Toyota Motor Corp. and PSA, the Paris-based automaker that operates Peugeot, Citroen and Opel, have made a deal to expand their long-term partnership in the European market.

Under the terms of the new agreement, PSA will expand the range of commercial vehicles that it supplies to Toyota for sale in Europe under the Toyota brand starting in fourth quarter of 2019.

Global News!

In return, Toyota will take full financial ownership, starting in 2021, of the Toyota Peugeot Citroën Automobile Czech joint-venture plant in Czech Republic, which produces the compact A-segment models, which Toyota will continue to build. (more…)

UAW Attacks GM as Trump Signs “New” NAFTA Deal

Trump in Argentina for G20 Summit.

by on Nov.30, 2018

The leaders of Mexico, the United States and Canada sign the "new" NAFTA in Argentina.

The United Auto Workers renewed its attack on General Motors as leaders from the U.S., Mexico and Canada used the G20 Summit in Argentina for the back drop for officially signing a new North American Free Trade Agreement that was negotiated last summer but still must be approved by the U.S.

President Donald Trump joined the leaders of Canada and Mexico at a global meeting in Argentina for the signing of the deal, fulfilling a longstanding political promise with a deal he celebrated as a “groundbreaking achievement.”

News Now!

UAW President Gary Jones, however, said GM’s announcement of the closure of five of its factories in the U.S. demonstrates that the new trade pact does not go far enough in protecting the interest of workers in the U.S. (more…)