Nissan Motor Co., BMW of North America and Ford Motor Co. accused Takata Corp. of fraud in a lawsuit seeking to force the airbag manufacturer to cover losses they incur because of its faulty inflators that have been linked to at least 17 deaths worldwide.
Category: Automakers
VW and Tata agree partnership to boost sales in India
VW and Tata have agreed to form a strategic partnership to help both companies boost economy car sales in India and emerging markets. Tata Motors, which is India’s largest vehicle company and owns Jaguar Land Rover, is also hoping to claw back domestic market share.
Fiat Predicts VW Approach as Peugeot-Opel Threat Spurs Car Deals
After PSA Group’s move to purchase of General Motors Co.’ s Opel unit, the next step in a looming consolidation wave could be a bid by Volkswagen AG for Fiat Chrysler Automobiles NV, according to the Italian-American carmaker’s outspoken chief executive officer.
Mitsubishi Seeks to Strengthen SUV Credentials With New Model
Mitsubishi Motors Corp. will unveil a sport utility vehicle that will debut in Europe, its first new model since joining the Renault-Nissan alliance, as Chairman Carlos Ghosn strengthens the Japanese company’s credentials as an SUV brand. The Eclipse Cross compact SUV coupe to be revealed at the Geneva auto show on Tuesday will be shipped to its second-biggest market in the last quarter and subsequently roll out in Japan, North America and other regions, Mitsubishi said in a statement.
GM to Take on $3 Billion in Debt to Fund Pensions Moved to Peugeot
General Motors Co. expects to raise about $3 billion in debt to fund pension obligations it plans to transfer to Peugeot SA as part of the sale of its European business, said finance chief Chuck Stevens.
Peugeot Maker Agrees to Buy GM’s Opel in $2.3 Billion Deal
PSA Group agreed to buy General Motors Co.’ s Opel unit in a transaction valued at 2.2 billion euros , creating Europe’s second-largest carmaker in a bid to better compete in the region’s saturated market.
GM’s Deal To Sell Opel Unit Firms Up
A deal for General Motors Co. to sell its Adam Opel AG European business to French car maker Peugeot is expected to be announced Monday, according to two people familiar with the plan.
Carlos Ghosn Grabs Renault Steering Wheel Amid Massive Race in Europe’s Car Market
Carlos Ghosn is stepping down from his role as CEO of Nissan as French rival Peugeot accelerates plans to buy the European operations of General Motors. Carlos Ghosn, perhaps the most powerful man in the global auto industry, is stepping down from his role as CEO of Nissan Motor Co.
Nissan Savior Ghosn Hands Keys to New CEO to Focus on Alliance
Carlos Ghosn, one of the auto industry’s most celebrated turnaround artists, is relinquishing his CEO role at Nissan Motor Co. and turning over day-to-day control to Hiroto Saikawa as he focuses on strengthening the carmaker’s alliance with Renault SA and Mitsubishi Motors Corp. The move caught some observers by surprise.
PSA Ready for `Opportunities’ as Profit Gain Helps Opel Stance
PSA Group declared itself ready to take on challenges like acquiring General Motors Co.’ s struggling European operations as a successful revival bolsters the French carmaker’s finances and profitability.
PSA’s Profit Jump Bolsters Peugeot Maker in GM Talks
PSA Group’s earnings jumped 18 percent last year, underscoring the French carmaker’s revival and buoying its efforts to buy General Motors Co.’ s struggling European operations.
How Safe Is Ford Motor Company’s 4.8% Dividend?
The Blue Oval paid shareholders a dividend every year from its IPO in 1956 until 2006, when then-CEO Alan Mulally cut spending as far as he dared in a last-ditch effort to save the deeply troubled automaker. That effort was a great success, of course.
Renault CEO Says France Sale Would Allow Nissan Stake Shift
A lopsided alliance between Renault SA and Nissan Motor Co. could be revised once France sells its stake, paving the way for the Japanese manufacturer to increase its involvement, according to the carmakers’ chief executive officer Carlos Ghosn.
You’ll Be Surprised at the Size of Ford Motor Company’s War Chest
I’ll say that again: Twenty-seven point five billion dollars. That’s the cash Ford Motor Company had stashed as of December 31 .
Harley-Davidson: Cramer’s Top Takeaways
Can government protection actually hurt American companies more than it helps? That was the question Cramer posited as he examined what, if anything, Donald Trump could do to help the likes of Harley Davidson . Trump recently met with Harley’s leadership in what was deemed a “listening session,” but Cramer noted that while both Harley and rival Polaris Industries , owners of the Indian motorcycle brand, saw sales revenue decline last quarter, it wasn’t because of foreign competition.
Thor Industries Hammers Out Strong Uptrend
In this one-year daily bar chart of THO, below, we can see a very durable rally from early 2016. Prices have rallied modestly and then corrected/consolidated for several months — like from April to June and from September into November.
Renault-Nissan Nears GM Global Sales After Ghosn’s Japan Rescue
The Renault-Nissan Alliance came just short of matching General Motors Co. and joining the ranks of the three-biggest automakers by global sales, after Chief Executive Officer Carlos Ghosn rescued a Japanese peer last year.
Hyundai may source car batteries from China amid political tension
Hyundai Motor said on Wednesday it may procure electric vehicle batteries from Chinese companies for a planned China model after South Korean battery makers failed to make a list of approved vendors last year. The decision comes at a time of growing concern in South Korea that Beijing may be retaliating over Seoul’s decision to deploy a U.S. anti-missile system.
Ford reveals new aluminum-sided Expedition SUV
This photo provided by Ford Motor Company shows the 2018 Ford Expedition. Ford says the 2018 Ford Expedition is 300 pounds lighter than the previous model thanks to a new aluminum body and a high-strength steel frame.
Honda, Hitachi Car Unit to Ally as Vehicle Tech Push Accelerates
Honda Motor Co. and Hitachi Automotive Systems Ltd. plan to announce a business partnership Tuesday afternoon in Tokyo, amid a wave of alliances between carmakers and companies developing environmentally friendly and autonomous driving technologies.
Toyota Faces Trump Trade Heat and Flagging Demand in the U.S.
Toyota Motor Corp. recently ceded its title as the world’s best-selling automaker to arch-rival Volkswagen AG. Yet the Japanese company’s biggest adversary this year may be U.S. President Donald Trump.
Bromance Between Bill Ford and Trump Hits Snag Over Immigration
It had been a rough start, with Trump blasting Ford Motor Co. for building cars in Mexico.
Ferrari’s Net Income Doubles on Cost Cuts and Pricing Gains
The Italian supercar maker’s shares jumped 4% after the news was announced. Deliveries of the $2 million-plus LaFerrari Aperta hypercar helped boost Ferrari’s fourth-quarter earnings.
Ferrari Targets Profit Jump on $2.1 Million LaFerrari Aperta
Ferrari NV plans to increase profit by at least 8 percent this year with more special-edition supercars such as the $2.1 million LaFerrari Aperta, which helped revenue and earnings reach records in 2016. The shares rose to their highest price ever.
Toyota Paces U.S. Sales Decline as Carmakers Boost Discounts
Toyota Motor Corp. led major carmakers reporting lower U.S. sales in January, even as an industry trying for another record year piled on discounts to keep showrooms busy. Deliveries fell about 11 percent for both Toyota and Fiat Chrysler Automobiles NV.
Consumers Spend More Cash for New Cars in January
January is typically the slowest month of the year for new-vehicle sales, and a surprisingly robust December likely stole some thunder from the latest month. Detroit’s Big Three all reported declines in January U.S. sales versus last year.
Standard Motor Raises Quarterly Dividend To 19 Cents a Share From 17 Cents
Standard Motor Products Inc. said Wednesday it is raising its quarterly dividend to 19 cents a share from 17 cents.
Auto Investors Keep Calm and Carry On Through Trump Tweets
The first full month of the Trump presidency signals uncertainty for the auto industry, but risks are event-focused, not policy-based. The first full month of the Trump presidency signals uncertainty for the auto industry, but the risks are event-focused, not policy-based.
Toyota Loses Sales Crown to VW as U.S. Trade Barriers Loom
Toyota Motor Corp. lost its title as the world’s best-selling automaker to Volkswagen AG, snapping the Japanese company’s four-year reign, as demand for its flagship Camry sedan waned in the U.S. and sales in China expanded at a slower pace than the overall market. Toyota’s global sales, including its Hino Motors Ltd. and Daihatsu Motor Co.
Toyota Loses Sales Crown to VW as Trade Barrier Threat Looms
Toyota Motor Corp. lost its crown as the world’s best-selling automaker to Volkswagen AG, ending the Japanese company’s four-year reign, as it faces challenges that range from the threat of trade barriers in the U.S. to slowing demand in China after a tax increase. Worldwide sales for Toyota, including its Hino Motors Ltd. and Daihatsu Motor Co.
Detroit’s Luxury Brands Cap Off Strong Year in Key Market
One way to do that is to expand luxury brands — Cadillac for GM and Lincoln for Ford. The good news is that while the automakers have had a tougher time gaining market share in the U.S., China helped send sales surging in 2016.
Detroit’s Luxury Brands Cap Off Strong Year in Key Market
One way to do that is to expand luxury brands — Cadillac for GM and Lincoln for Ford. The good news is that while the automakers have had a tougher time gaining market share in the U.S., China helped send sales surging in 2016.
Ford CEO Told Trump U.S. Fuel-Economy Rules Risk 1 Million Jobs
U.S. President Donald Trump shakes hands with Mark Fields, president and chief executive officer of Ford Motor Co. before a meeting at the Roosevelt Room of the White House in Washington, D.C., U.S., Jan. 24 2017.
Why This Analyst Raised General Motors’ Price Target
There hasn’t been a long list of analysts posting bullish notes on major automakers over the past year, due to the inevitable peaking of the U.S. new-vehicle cycle after the industry set sales records each of the past seven years. That’s why yesterday’s upgrade from Morgan Stanley analyst Adam Jonas, a highly respected analyst and longtime Tesla Motors bull, was a pleasant surprise for investors.
Ford Motor quarterly profit matches Street expectations
Ford Motor Co fourth-quarter earnings matched Wall Street expectations, and the No. 2 U.S. automaker maintained an outlook for 2017 that calls for less profit than 2016.
Trump Is Squeezing Detroit at the Worst Possible Time
That’s a recipe for trouble facing companies wary of undoing the painful but necessary steps they took to shut dozens of factories across the country, before and during a more than $70 billion government bailout. New assembly plants cost General Motors Co., Ford Motor Co.
Textron is buying vehicle maker Arctic Cat in $247M deal
Textron said Wednesday that it will pay $18.50 per Arctic Cat share, a 41 percent premium to its Tuesday closing price. The transaction also includes debt, though no exact figure was provided.
Hyundai Motor Warns of Trade Protectionism as Strikes Cut Profit
Hyundai Motor Co. warned of increasing uncertainties with the spread of trade protectionism and intensifying competition, even as South Korea’s largest automaker reported a 33 percent decline in operating profit due to labor strife and fall in emerging markets demand.
Trump Tells Auto CEOs Easier Rules Will Bring Back U.S. – Bigly’
President Donald Trump told the chief executives of the three biggest automakers in the U.S. that he’ll cut taxes and reduce environmental regulations to restore the nation’s manufacturing sector. “We’re bringing manufacturing back to the U.S. bigly, we’re reducing taxes, very substantially, and we’re reducing unnecessary regulations,” Trump told reporters Tuesday, seated between the CEOs of General Motors Co.
Why Smart Mobility Services Are a Smart Move for Automakers
As the U.S. new-vehicle cycle peaks, everybody seems to be a Debbie Downer when it comes to automotive stocks, and few seem to be looking for out-of-the-box upside to these stocks. That’s not stopping Detroit executive from pursuing future ideas, of course, and while industry folk havetouted the enormous potential for smart mobility projects that could eventually resemble services such as Uber — once valued at more than $60 billion — we haven’t touched on exactly why those projects will help automakers evolve.