Auto News

Automotive News
  • average interest rate on new vehicles rose last month to 6.19 percent — the second highest in 10 years
  • annualized rate of sales dipped to 16.9 million, from 17.22 million in January 2018, its lowest level since August
  • FCA US, which gained a full point of market share in 2018, posted a 2.5 percent increase in January
  • Ford Motor Co. broke a streak of four monthly declines with a 7.1 percent increase
  • GM sales … fell an estimated 6.9 percent
  • Nissan Group’s sales dropped 18 percent
  • Mazda’s sales fell 20 percent
  • Volkswagen Group of America’s sales fell 3 percent
Automotive News
  • flying car prototype hovered briefly in the air during an inaugural test flight, a small but significant step as the world’s largest planemaker bids to revolutionize urban transportation and parcel delivery services
  • 30-foot-long (9 meter) aircraft — part helicopter, part drone and part fixed-wing plane
  • looking to achieve a range of 50 miles with two flying car variants capable of carrying two and four passengers each
Automotive News
  • U.S. auto sales rose 2.2 percent in December, capping a year that saw overall volume rise 0.6 percent even as automakers endeavored to counter slumping car demand with record light-truck deliveries
  • U.S. sales at FCA US, Honda and Nissan rose last month while Ford, General Motors and Toyota posted declines
  • For 2019, most early forecasts see total industry sales coming in at 16.8 million to 17 million units, with some estimates as low as 16.7 million
Automotive News
  • UAW local union is warning of as many as 230 layoffs at a Ford Motor Co. factory in suburban Detroit, though the company says workers will be offered jobs at another plant
  • move will be similar to the changes announced last month in which about 1,150 workers will be transferred from factories producing slow-selling products to plants making cars and parts that are in greater demand
  • Van Dyke Transmission employs about 1,550 workers and is located in Sterling Heights, Mich., just north of Detroit
Automotive News
  • U.S. light-vehicle sales slipped 0.5 percent in November as robust fleet shipments by some automakers failed to offset slumping demand for passenger cars
  • Ford, Toyota, Nissan and American Honda posted declines as the industry continued to reel from plunging demand for passenger cars
  • FCA US, meanwhile, rode higher retail and fleet sales to a 17 percent increase, its third consecutive double-digit gain and ninth straight overall
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

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