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CEO Marchionne points to runaway incentives costs.
by Paul A. Eisenstein on Jul.30, 2014
FCA CEO Sergio Marchionne said the automaker needed to have great results in the next two quarters.
Fiat says its second-quarter profits plunged 55% as the maker’s U.S. partner Chrysler struggled to move old product with new incentives, while the Fiat side of the company dealt with a slowdown in South America.
Fiat, which expects to complete its takeover of the U.S. maker in October, earned a net profit of 197 million Euros, or $264 million, for the three-month period ending on June 30, compared with 435 million Euros a year before. On an EBIT – or earnings before interest and taxes – basis, the numbers dipped to 961 million Euros, or $1.3 billion, from 1.1 billion Euros a year earlier.
Insight!
“We had a crappy first quarter, a halfway decent second, and we need to have outstanding quarters in the third and fourth,” Sergio Marchionne, CEO of both Fiat and Chrysler, said bluntly during a conference call. (more…)
Tags: FCA earnings, FCA news, Fiat money, Fiat-Chrysler, Marchionne news, Sergio Marchionne, TheDetroitBureau.com., chrysler, chrysler earnings, chrysler news, chrysler sales, fiat, fiat earnings, fiat news, fiat sales, paul a. eisenstein, thedetroitbureau
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VW closing gap as GM settles into third spot.
by Paul A. Eisenstein on Jul.30, 2014
Strong demand for new models, such as the redesigned Corolla, helped Toyota retain the sales lead for the first half of 2014.
While its lead has been narrowing, Toyota Motor Co. retained its crown as the world’s best-selling automaker during the first half of 2014.
The maker edged out rivals Volkswagen AG and General Motors in the global sales sweepstakes as demand for its cars, trucks and crossovers surged to 5.097 million between January and June, a 4% increase fueled by growth in markets ranging from U.S. and Europe to China and the Japanese home islands.
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That was not only an all-time record but exceeded forecasts – while positioning Toyota to meet a goal of becoming the first automaker ever to sell 10 million vehicles in a single year. VW is also shooting for the 10 million mark, though preliminary data indicate it only tallied sales of 4.97 million vehicles during the first half, GM following at 4.92 million.
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Tags: GM sales, VW sales, auto news, auto sales, car news, car sales, global auto sales, gm china, gm news, paul a. eisenstein, paul eisenstein, thedetroitbureau, toyota china, toyota global sales lead, toyota news, toyota sales, vw china, vw news
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New Caddy boss expected to accelerate product expansion plans.
by Paul A. Eisenstein on Jul.30, 2014
The new Cadillac crest - minus the wreath - debuts on the 2015 ATS Coupe.
“New product is the lifeblood of any brand,” said Jim Vurpillat, the marketing director for Cadillac, as he took a break during a media drive of the luxury maker’s new ATS Coupe. He and the rest of Cadillac’s management team certainly have to hope so after the unexpected slide the General Motors division has taken so far this year.
The ATS Coupe, a new line of performance models, a flagship sedan, a compact crossover and other new products are moving their way through the Caddy pipeline. But the brand could see the pace of that rollout accelerate in the near future under the guidance of a new global brand boss who will officially join the Caddy team later this week.
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Johan de Nysschen, most recently the CEO of Nissan’s Infiniti division and before that head of Audi of America, was brought in as part of a plan to give Cadillac more independence from GM. And company insiders suggest that the South African-born executive negotiated a deal that will also give Caddy more of the product it needs to compete against aggressive German rivals Mercedes-Benz, BMW and Audi, as well as Infiniti, Lexus, Lincoln and luxury upstart Hyundai.
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Tags: Cadillac ATS, Cadillac CTS, Cadillac Escalade, auto news, cadillac ats coupe, cadillac de nysschen, cadillac elr, cadillac models, cadillac news, cadillac products, car news, johan de nysschen, luxury car sales, luxury coupes, paul a. eisenstein, paul eisenstein, thedetroitbureau
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Mini Countryman nabs a “good” rating from IIHS.
by Paul A. Eisenstein on Jul.30, 2014
The 2014 Mini Countryman was the only vehicle to earn a "good" rating in the latest IIHS small car crash tests.
For those worried about the safety of today’s small cars, the latest round of crash tests conducted by the Insurance Institute for Highway Safety didn’t provide much good news.
Out of an even dozen vehicles included in the test, only the Mini Countryman earned a “good” rating. And among the plug-based vehicles included in the tests for the first time, only the Chevrolet Volt plug-in hybrid managed to eke out an “acceptable” rating – while also earning a Top Safety Pick+ award.
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“The Mini Cooper Countryman gave a solid performance,” says Joe Nolan, the Institute’s senior vice president for vehicle research. “The Countryman’s safety cage held up reasonably well. The safety belts and airbags worked together to control the test dummy’s movement, and injury measures indicate a low risk of any significant injuries in a real-world crash this severe.”
(more…)
Tags: Chevy Volt safety, auto news, auto safety, car news, car safety, chevrolet news, crash tests, iihs crash test, mini countryman crash test, mini countryman safety, mini news, paul a. eisenstein, paul eisenstein, small overlap test, thedetroitbureau
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Desire to give up control drops when kids involved.
by Paul A. Eisenstein on Jul.29, 2014
CEO Carlos Ghosn outlines Nissan autonomous vehicle plans during a Tokyo news conference.
Americans haven’t necessarily fallen out of love with the automobile. They just don’t enjoy the art of driving as much anymore, and a growing number of Americans seem ready to hand over command to autonomous vehicles.
A new study finds that fully three-quarters of licensed U.S. motorists would be very likely to consider, if not buy, self-driving vehicles. And if offered lower insurance rates, the figure jumps to a whopping 86%, found website Insurance.com.
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“People are aware that they already drive cars controlled partly by computers,” said Insurance.com Managing Editor Des Toups. “Now they see features like collision avoidance on new models and hear about Google cars hitting the roads in a couple of years. An autonomous car is not science fiction anymore.” (more…)
Tags: Insurance.com, Navigant Research, TheDetroitBureau.com., auto news, auto safety, autonomous vehicles, car news, car safety technology, collision avoidance, computerized cars, google cars, paul a. eisenstein, safer cars, self-driving vehicles, thedetroitbureau
Posted in Automobiles | 2 Comments »
Toyota’s youth brand making major changes to product line-up.
by Paul A. Eisenstein on Jul.29, 2014
Soon to be gone? The Scion xB.
Scion has always tried to think out of the box, and now it likely will abandon its boxy xB model as part of a product line shake-up designed to reinvigorate Toyota Motor Co.’s youth-oriented brand.
The xB is one of several models that reportedly will go away, according to various reports, while the Japanese brand will get several new models, including a version of the Auris hatchback sold in Europe and other parts of the world under the Toyota badge.
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Gone is the strategy of limiting Scion to just a handful of products designed to bring first-time buyers into showrooms, the brand’s top executive recently confirmed to TheDetroitBureau.com.
Scion could use the shake-up. Only a few years back considered among the hottest brands in the market, Scion has lost significant momentum in recent years and was one of only a handful of brands to see sales slide during the first half of 2014.
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Tags: Scion FR-S, Scion IQ, auto news, car news, paul a. eisenstein, paul eisenstein, scion news, scion products, scion shake-up, scion tc, scion xb, thedetroitbureau, toyota news
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Focus on using recycled metal.
by Paul A. Eisenstein on Jul.29, 2014
Jaguar will give the world its first full look at the new XE compact sport sedan in September.
Jaguar is offering a bit more insight into its plans for its new compact model, confirming the upcoming XE sedan will opt for a lightweight “aluminum-intensive” unibody design that will make heavy use of recycled metal.
The lightweight metal will account for 75% of its structure, and the new Jaguar XE will be assembled at a special facility at the Solihull plant in Britain’s West Midlands designed specifically to handle the production of the luxury sedan.
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Jaguar was one of the first makers to begin migrating from traditional steel to aluminum, along with its UK sibling Land Rover. Among others is Ford Motor Co., its former parent company, which says it learned enough about aluminum manufacturing from Jaguar to help it design the new, lightweight F-150 pickup coming to market later this year.
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Tags: 2015 Jaguar xe, aluminum cars, auto news, autos aluminum, car news, jaguar aluminum, jaguar news, jaguar xe, paul a. eisenstein, paul eisenstein, recycle aluminum, thedetroitbureau
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Prices will jump by as much as $3,615 for 2015 “aluminum-intensive” truck.
by Paul A. Eisenstein on Jul.28, 2014
Ford is making the 2015 F-150 lighter everywhere, including the owner's bank account. The new model is going to be more expensive than its predecessor.
While Ford’s new “aluminum-intensive” 2015 F-150 pickup will be going on a diet, it’s going to be heavier on the wallet, the new truck’s sticker price jumping by as much as $3,615, depending on the specific model.
But the Detroit maker is hoping that potential buyers still see the 2015 Ford F-150 as a bargain because of the anticipated fuel savings that will come with shaving as much as 732 pounds off the big truck’s mass. On average, the new pickups will come in about 625 pounds under the weight of the steel-bodied 2014 F-150 line.
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Ford is also defending the increase by noting it is adding significantly more content to the 2015 remake of America’s best-selling vehicle. There are new LED accent lamps, larger video screens, and other new features on most of the models. And top-line versions, such as the F-150 Platinum and King Ranch edition, get a level of standard equipment more normally associated with luxury cars than work trucks. (more…)
Tags: 2015 Ford F-150, 2015 Ford truck, F-150, Ford, Ford full-size pickup, Ford truck news, Ford truck pricing, TheDetroitBureau.com., aluminum Ford pickup truck, aluminum truck, ford news, ford trucks, paul a. eisenstein, thedetroitbureau, truck price rises
Posted in Automobiles | 2 Comments »
Charities benefit from trend of muscle cars going to highest bidder.
by Paul A. Eisenstein on Jul.28, 2014
Dodge is auctioning a one-of-one 2015 Dodge Challenger SRT Hellcat VIN0001, the most powerful and fastest muscle car ever built, at Barrett-Jackson Las Vegas 2014.
In what has become a growing trend among muscle, performance and sports car manufacturers, Fiat Chrysler plans to auction off for charity the first 2015 Dodge Challenger SRT Hellcat.
The very first 707-horsepower coupe, vehicle identification number 0001, will roll across the block at the Barrett-Jackson Las Vegas auction to be held in Sin City between the 25th and 27th of September. Proceeds will be donated to Opportunity Village, a service that provides a variety of programs for men and women with various disabilities.
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“The 2015 Challenger Hellcat is already guaranteed to be one of the hottest cars that will roll through the Barrett-Jackson auction lanes in decades to come,” said Tim Kuniskis, CEO of the Dodge and SRT Brands. “The VIN 0001 being auctioned this year is the ultimate one-of-one collectible 2015 Dodge Challenger, as Dodge is ensuring there will never be another one like it.” (more…)
Tags: Barrett-Jackson Auction, Barrett-Jackson Hellcat, Barrett-Jackson Las Vegas, Barrett-Jackson news, Dodge Challenger Hellcat, Dodge Hellcat, Hellcat, Hellcat auction, Hellcat charity, Hellcat news, TheDetroitBureau.com., auto charity auction, charity auto auction, dodge news, muscle car charity auctions, muscle cars, paul a. eisenstein, thedetroitbureau
Posted in Automobiles | 1 Comment »
Net profit significantly beats analysts’ forecasts.
by Paul A. Eisenstein on Jul.28, 2014
The Nissan Sentra has helped drive strong demand for the maker, especially in the U.S. market.
Nissan saw a big surge in earnings for the latest quarter, with analysts crediting both strong sales in China and the U.S., as well as a boost from favorable exchange rates.
The second-largest Japanese maker reported a net profit of 112 billion yen, or $1.1 billion, a 37% year-over-year increase from 82 billion. The figures far and away exceeded analysts’ consensus forecast of 85 billion yen, or $835 million, according to data gathered by FactSet.
By the Numbers!
“Nissan continued to make progress in the first three months of the fiscal year as encouraging demand for new products, benefits from recent plant investments, and improving market conditions in North America, China and Europe combined to lift both revenues and profits,” said Nissan President and CEO Carlos Ghosn.
(more…)
Tags: Carlos Ghosn, auto earnings, auto news, car news, infiniti news, nissan earnings, nissan earnings forecast, nissan news, nissan profits, paul a. eisenstein, paul eisenstein, thedetroitbureau
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