Auto News

New York Times
  • planned to idle five factories in North America and cut several thousand blue-collar and salaried jobs in a bid to trim costs
  • five G.M. plants will halt production next year, resulting in the layoff of 3,300 production workers in the United States and 3,000 in Canada
  • three car factories: one in Lordstown, Ohio, that makes the Chevrolet Cruze compact; the Detroit-Hamtramck plant, where the Chevrolet Volt, Buick LaCrosse and Cadillac CT6 are produced; and its plant in Oshawa, Ontario, which makes the Chevrolet Impala … transmission plants in the Baltimore area and in Warren, Mich.
Automotive News
  • Nissan Chairman Carlos Ghosn was arrested in Japan, and the Japanese carmaker he once saved from the brink of bankruptcy now plans to fire the high-flying executive for allegedly being the “master mind” behind “significant” financial misconduct
  • Ghosn, 64, allegedly under-reported his income in official stock market filings. He diverted corporate investment funds for personal use. And he misused company expenses
  • Following Nissan’s move to oust Ghosn, Mitsubishi issued a statement saying it would also recommend to its board of directors that it fire its chairman
Automotive News
  • service will operate under an entirely new brand and compete directly with Uber and Lyft
  • things will start small, perhaps dozens or hundreds of riders in the suburbs around Phoenix, covering about 100 square miles
  • first wave of customers will likely draw from Waymo’s Early Rider Program, a test group of 400 volunteer families who have been riding Waymos for more than a year
Ward Auto
  • national zero-emissions-vehicle (NZEV) program, a 50-state initiative the automaker says has the potential to put more than 7 million long-range electric vehicles on the road by 2030
  • nationwide program could reduce carbon-dioxide emissions by 375 million tons between 2021 and 2030 compared with California’s existing ZEV program
  • Establish ZEV requirements (by credits) each year, starting at 7% in 2021 and increasing 2% each year to 15% by 2025, then 25% by 2030
  • Purchases of passenger vehicles by dealerships plunged for a third straight month
  • Passenger-car purchases by dealerships declined 12 percent to 2.06 million units in September
  • China’s car dealers are now pushing the government to come up with fresh measures to help spur demand
Wall Street Journal
  • split would take place in the form of a spinoff, with two companies equal in size
  • Thyssenkrupp Materials will regroup steel and stainless steel production, materials trading, and steel-related processing
  • Thyssenkrupp Industrials company will comprise the elevator, automotive-supplies and plant-construction units
Automotive News
  • electric power steering on the affected vehicles can fail momentarily during a drop in voltage and suddenly return, mainly during low-speed maneuvers such as turning
  • recall campaign includes: Chevrolet Silverado (450,711) and GMC Sierra 1500 (186,083) pickups and Chevy Tahoe (145,198), Chevy Suburban (79,505), Cadillac Escalade and Escalade ESV (45,270) and GMC Yukon and Yukon XL (109,151) SUVs
  • GM … is aware of 30 accidents resulting in two injuries because of the defect
  • GM will notify owners of the affected vehicles and dealers will update the electric power steering module software for free
  • Top automakers pointed to a small increase in U.S. auto sales in August including another sharp rise in SUV sales
  • low unemployment and strong consumer confidence helped mitigate the impact of rising interest rates and fuel prices
  • Ford, the No.2 U.S. automaker, sold 218,504 vehicles in August, compared with 209,897 a year ago
  • Rival Toyota Motor Corp (7203.T), which has a larger share of cheaper passenger vehicles, said its U.S. sales had fallen 2 percent to 223,055 vehicles in August
  • Fiat Chrysler (FCHA.MI) said U.S. sales were up 10 percent to 193,718 vehicles in August, led by Jeep and Ram
  • Honda Motor Co Ltd’s (7267.T) U.S. sales rose 1.3 percent in August to 147,903 units, lead by a roughly 19 percent increase in sales of SUVs including CR-V and Odyssey minivans
  • Nissan Group’s August sales rose about 4 percent to 112,376 vehicles, helped by higher sales of crossovers such as Murano and Rogue
Automotive News
  • Electric cars developed by General Motors may be able to recharge their batteries with 180 miles of driving range in less than 10 minutes
  • GM and one of its research partners, Delta Americas, are developing the fast-charge system as part of a three-year project
  • Tesla touts the ability to replenish the batteries of its vehicles with about 30 minutes at its supercharger stations
Automotive News
  • campus of offices for up to 5,000 tech workers and software engineers
  • focused on self-driving vehicles and ancillary technologies and services
  • seeking at least $250 million in tax or other incentives to support the development
Automotive News
  • Paced by declines at Ford, Nissan, Honda, Toyota, General Motors and Hyundai-Kia, U.S. light-vehicle sales fell an estimated 3.7 percent in July
  • Among major companies, only Fiat Chrysler, the Volkswagen Group and posted gains, while Subaru of America extended its winning streak to 80 months
  • Another big month at Jeep and higher Ram demand helped FCA US post a 5.9 percent increase in July sales
  • Ford Motor’s sales fell 3.3 percent as car demand slumped again and retail volume fell by double digits
  • Toyota Motor Corp. said deliveries slid 5.1 percent at the Toyota division and 12 percent at Lexus
  • At Honda Motor, July volume dropped 8.2 percent, dragged down by a 19 percent decline in car sales
  • Nissan Motor Co. skidded 15 percent as the company continues to dial back on discounts and fleet volume
  • Sales rose 6.7 percent at Subaru, 13 percent at the VW brand and 24 percent at Mitsubishi
  • slipped 2.4 percent at the Hyundai brand, 5.8 percent at Kia, 11 percent at Mazda and 2.3 percent at Mini
  • Among other luxury brands, deliveries rose 24 percent at Volvo, 3.1 percent at Porsche, 2.1 percent at Audi and 0.1 percent at BMW
Automotive News
  • became gravely ill after what the company has called shoulder surgery
  • company appointed Mike Manley, 54, head of the automaker’s Jeep and Ram brands, as Marchionne’s successor
  • Fiat Chrysler’s newly released five-year plan … invest $10.5 billion to develop new electric and hybrid vehicles
Automotive News
  • move from the dead of winter to early June to better appeal to car shoppers … will begin the week of June 8
  • changes should help automakers save money, reducing move-in costs by 30 to 40 %
  • event faces stiff competition from CES in Las Vegas, another January event
USA Today
  • rising sales of SUVs, crossovers and pickup trucks offset the continued slide of passenger cars
  • Ford, Fiat Chrysler, Toyota, Honda, Nissan, Subaru, Kia, Hyundai and Volkswagen all posted sales increases for the month
  • General Motors, which no longer reports monthly sales, reported a sales increase for the full second quarter
Automotive News
  • going to require some grand thinking and probably a pile of public and private money
  • already deployed its Chariot ride-sharing vans … between its Dearborn headquarters and … Corktown
  • precursor of having self-driving vehicles running along the avenue in the coming years
Automotive News
  • dismiss more than 3,000 employees, or about 9 percent of the company’s work force
  • biggest job cut in Tesla’s 15-year history underscores the pressure Musk is under to stop burning through money
  • company has cumulatively lost about $5.4 billion … could lose another $1.3 billion over the next four quarters
Automotive News
  • FCA US volume rose 11 percent in May on a surge in Jeep deliveries and higher Ram and retail volume
  • General Motors … plans to release sales results on a quarterly basis … analysts expect … rise more than 10 percent
  • Ford Motor Co., May sales edged up 0.5 percent, with light-truck volume offsetting weaker car demand
  • Weaker car demand prompted Toyota Motor Corp. to post a 1.3 percent decline in May volume
  • May sales slipped 4.1 percent at Nissan Motor Co. as the company dials back retail incentives
  • Honda Motor. Co. sales in May jumped 3.1 percent on a 9.2 percent increase in light trucks
  • Hyundai-Kia snapped a 17-month skid with a 5.9 percent gain in May volume
  • Volkswagen brand, helped by new and redesigned crossovers, saw May U.S. sales rise 4 percent to 31,211

Kim & Associates Co., Inc.