Family Ties: The dynasties of the auto industry
Family-controlled auto groups have survived monumental upheaval over the past century, sometimes going against the bottom-line principles of pure capitalism. Need proof? Just look at Ford, BMW, Toyota, Fiat Chrysler and Volkswagen.
TALK FROM THE TOP: Jaguar Land Rover’s Eberhardt expects Jaguar sales jump with 2 new products
Joe Eberhardt, CEO of Jaguar Land Rover North America, acknowledges that the speed of change at the company is challenging, with a new dealership design and dealer margin structure.
TALK FROM THE TOP: Nissan’s Munoz says most dealers are happy
Nissan North America Chairman says the heat will stay on for more sales, even after reaching the goal of a 10 percent U.S. market share next March. And ‘preferred Nissan dealers’? No such thing, Munoz says.
Is the hatch back?
The U.S. market for hatchbacks is expected to grow faster than any of the other nine vehicle body styles tracked by research firm IHS Automotive.
Most Nissan dealers are happy, Munoz says
Nissan North America Chairman says the heat will stay on for more sales, even after reaching the goal of a 10 percent U.S. market share next March. And ‘preferred Nissan dealers’? No such thing, Munoz says.
Honda merges into autonomous traffic
A demonstration event at California’s GoMentum autonomous-vehicle testing site was meant to highlight Honda’s progress in developing and testing autonomous cars.
Two UAW local officials at Ford Chicago plant shot outside union hall
Two UAW officials who represent Ford’s Chicago Assembly Plant were shot Friday night during an argument outside the Local 551 union hall shortly after they won re-election.
With 2 new products, Jaguar expects sales to jump
Joe Eberhardt, CEO of Jaguar Land Rover North America, acknowledges that the speed of change at the company is challenging, with a new dealership design and dealer margin structure.
New urgency from Honda, Toyota on next-gen technologies
Toyota and Honda have unveiled separate initiatives for car connectivity and artificial intelligence, the latest moves by Japan’s auto industry to counter emerging tech rivals in Silicon Valley.
JDC’s success is about company, not family
Very few family members are actually employed at Tennessee automotive supplier JDC Coatings, which President Michael Frye says allows the company to focus on what’s best for the business.
Auto financiers tapping the brakes on subprime lending
Executives at some of the biggest banks in auto lending said at a conference this week that they’re tapping the brakes on subprime lending, especially at the lower end of the credit spectrum.
China’s BAIC starts selling cars in Mexico, may build a plant, exec says
China’s BAIC Motor Corp. has started selling its own cars imported from China in Mexico and may build a plant there, a senior company executive said.
GM, Ford reduce stakes in online parts marketplace OEConnection
GM and Ford sold a majority stake in OEConnection — a 15-year-old online marketplace for the sale of original-equipment parts to dealers — to private equity firm Providence Equity Partners.
U.S. fuel economy improves in May despite weak car sales
Despite the drop in car sales in May, the average fuel economy of light vehicles purchased in the U.S. last month still rose from April, a University of Michigan Transportation Research Institute report said.
Planet M aims to shift Michigan’s orbit from manufacturing to mobility
Michigan, while still the world’s largest automotive epicenter, is changing, and the state’s leaders, business and political, must make way for an industry with shrinking labor needs and greater emphasis on talent and technology.
Ad firms padded profits at client expense, report expected to say
Ad agencies and their media-buying firms have systematically enriched themselves at the expense of their U.S.
Faurecia opens Ky. plant to build Ford Super Duty seats
Faurecia SA, the French auto supplier, is inaugurating a new seat plant today in Simpsonville, Ky. The plant will supply complete seat systems for the Ford Super Duty pickup, made at the Ford Motor Co. Kentucky Truck Plant in nearby Louisville.
Leasing, average auto loan amounts at record levels, Experian says
Automotive leasing levels, average loan amount and average monthly payments each reached highs in the first quarter, Experian said in its latest State of the Automotive Finance Market report, released today.
Apple hires architect of BMW and Mercedes satellite navigation systems
Apple has hired Sinisa Durekovic, a software engineer who led the development of satellite navigation systems used by luxury carmakers including BMW, Mercedes-Benz and Audi.
BMW revamps ‘i’ electric car division to focus on self-driving tech
BMW has transformed its “i” division into a development center for self-driving cars, a board member told Reuters, a major strategic shift for the unit previously focused on making a family of lightweight electric vehicles.
France’s Valeo to acquire German clutch maker FTE Automotive for $914 million
French car parts supplier Valeo said today it would buy German clutch manufacturer FTE Automotive for 819.3 million euros ($914 million).
ZF weighs more deals, asset sales following TRW acquisition
ZF Friedrichshafen is considering more acquisitions as well as selling assets after catapulting into the ranks of the world’s biggest car-parts manufacturers via last year’s $12.9 billion takeover of TRW Automotive.
China’s Ningbo Joyson considers bid for Takata following Key Safety acquisition
China’s Ningbo Joyson Electronic Corp. is interested in acquiring embattled Japanese airbag supplier Takata.
GM boosts Chevy incentives after May jolt
General Motors, which has seen its U.S. market share fall faster than any other automaker through the first five months of the year, is hitting back with multiple June promotions and marketing plays for Chevrolet. Chevy U.S.
Auto lending market ‘a little stressed,’ JPMorgan Chase CEO Dimon says
JPMorgan Chase CEO Jamie Dimon said the market for U.S. automobile lending is ‘a little stressed’ and that he foresees higher losses ahead for some competitors.
GM drop-off helps drag down Canada sales 1.6%
A steep decline in sales at GM dragged down Canadian light-vehicle sales by 1.6 percent last month to 194,866 vehicles, an industry report said today.
Mercedes SUVs help boost U.S. sales lead over Lexus, BMW
Mercedes-Benz outsold its luxury auto competitors in the U.S. in May, building its lead in a down month thanks to continued demand for its SUVs.
VW’s U.S. volume tumbles 17% for worst May since 2010
Continued weakness in car deliveries led Volkswagen of America to its worst May U.S. sales total since 2011, while luxury sibling Audi narrowly notched its 65th straight year-over-year monthly sales record last month.
Former GM executive Darwin Clark dies
Darwin Clark, a General Motors executive who held key senior management positions at Buick and Oldsmobile and in GM’s overseas operations from the 1980s to the early 2000s, died this week.
Six automakers to recall nearly 2.5 million U.S. vehicles over Takata airbags
Six automakers said today they are recalling nearly 2.5 million U.S. vehicles with defective Takata airbag inflators, documents posted with government regulators show.
VW looks for more revenue from ride-hailing apps, mobility services
Volkswagen is looking at on-demand mobility services such as smartphone ride hailing to earn a “notable share” of future revenues as the carmaker pushes a strategic shift in the wake of its emissions scandal, its top executive said.
VW: U.S. volume tumbles 17% for worst May since 2010
Continued weakness in car deliveries led Volkswagen of America to its worst May U.S. sales total since 2011, while luxury sibling Audi narrowly notched its 65th straight year-over-year monthly sales record last month.
TOYOTA: Sales sag on 16% decline for cars
Toyota Motor Sales posted a 9.6 percent drop in U.S. sales for May, thanks to broad declines for both the Toyota and Lexus brands’ car lines.
NISSAN: Results flat, thanks to sagging car sales
Nissan North America today reported a 1 percent decline in U.S. sales in May, driven by a 5.9 percent decline in car volume.
AMERICAN HONDA: Sales drop 2.9% following 20% plunge at Acura
American Honda’s May U.S. sales fell 4.8 percent from a year earlier to 147,108 units as all but two of its models posted declines.
Former GM executive Darwin Clark dies at 78
Darwin Clark, a General Motors executive who held key senior management positions at Buick and Oldsmobile and in GM’s overseas operations from the 1980s to the early 2000s, died this morning on his 78th birthday.
FORD: Light-vehicle sales down, transaction prices up in May
Ford’s U.S. car sales plunged 25 percent in May, overshadowing a 9 percent gain for the F-series pickup and flat demand for utility vehicles.
Virginia dealers call for Tesla probe
Virginia dealers are asking state regulators to investigate Tesla for alleged violations at its locations in the state. Tesla vows to fight back.
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