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William Maley

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  1. This morning, Ford announced that current CEO Mark Fields will be stepping down as CEO. Taking his place is Jim Hackett, former CEO of Steelcase (an office furniture manufacturer) and chairman of Ford's self-driving unit. “Mark Fields has been an outstanding leader and deserves a lot of credit for all he has accomplished in his many roles around the globe at Ford. His strong leadership was critical to our North American restructuring, our turnaround at the end of the last decade, and our record profits in the past two years," said Bill Ford in a statement. The news was first broke by Forbes last night and later corroborated by the New York Times last night. According to unnamed sources, Ford's Executive Chairman Bill Ford and the board of directors lost confidence in Fields' ability to lead the company as he was unable to rally employees around a common theme or make fast decisions. His predecessor, Alan Mullaly was very good at those things. “Without Alan, it’s back to the inmates running the asylum,” a source told Forbes. Not helping matters is Ford's stock price dropping 40 percent during Fields' three-year tenure. The New York Times reports that the decision to remove Fields as CEO took place on Friday with The Detroit News reporting that Bill Ford delivering the news to Fields after a board meeting. “We need to re-energize our business and sharpen our execution. The good news is we have the financial resources and the talent to get it done. But what we needed is a transformative leader who has done it before. And who not only has the vision, but also knows how to get the organization to move toward that vision," Ford said in an interview with The Detroit News. “Jim has done this before. And he’s done it at an industrial company. And he’s done it at a company where he redefined it from what it was to what it could become. Jim will bring speed of decision-making. The world in which we are operating in today is very different from even three years ago.” Hackett was the CEO of Steelcase for over 20 years. He joined Ford's board of directors in 2013 and became the chairman of its Smart Mobility division in 2016. Hackett also worked as the interim athletic director of the University of Michigan from 2014-2016. “I am so excited to work with Bill Ford and the entire team to create an even more dynamic and vibrant Ford that improves people’s lives around the world, and creates value for all of our stakeholders. I have developed a deep appreciation for Ford’s people, values and heritage during the past four years as part of the company and look forward to working together with everyone tied to Ford during this transformative period,” said Hackett in a statement. Ford has also announced other management changes, Jim Farley, currently executive vice president and president, Ford of Europe, Middle East and Africa since January 2015 will become Ford's executive vice president and president, Global Markets. Joe Hinrichs, Ford's executive vice president and president for the Americas will move up to executive vice president and president, Global Operations. Marcy Klevorn, Ford's CTO will become executive vice president and president, Mobility. Source: Forbes, New York Times, (2), The Detroit News Press Release is on Page 2 FORD APPOINTS JIM HACKETT AS CEO TO STRENGTHEN OPERATIONS, TRANSFORM FOR FUTURE; FARLEY, HINRICHS, KLEVORN TAKE ON NEW ROLES Jim Hackett named as Ford Motor Company president and CEO, succeeding Mark Fields, who is retiring. Hackett, who will report to Executive Chairman Bill Ford, is recognized as a transformational business leader Hackett led Steelcase Inc.’s turnaround to become the world’s No. 1 office furniture maker, served as interim Athletic Director at University of Michigan and has led Ford Smart Mobility LLC since March 2016. He served on Ford’s board from 2013 to 2016 Hackett, together with Bill Ford, will focus on three priorities: Sharpening operational execution, modernizing Ford’s present business and transforming the company to meet tomorrow’s challenges Ford also named leaders to three new roles under Hackett. Jim Farley is appointed executive vice president and president, Global Markets, Joe Hinrichs is appointed executive vice president and president, Global Operations, and Marcy Klevorn is appointed executive vice president and president, Mobility Mark Truby is appointed vice president, Communications, and elected a company officer. He succeeds Ray Day, who plans to retire from the company next year and will provide consulting services until then Paul Ballew is appointed vice president and Chief Data and Analytics Officer DEARBORN, May 22, 2017 – Ford Motor Company today named Jim Hackett as its new president and CEO and announced key global leadership changes designed to further strengthen its core automotive business and accelerate a strategic shift to capitalize on emerging opportunities. Hackett, 62, has a long track record of innovation and business success as CEO of Steelcase, Interim Athletic Director at the University of Michigan and executive chairman of Ford Smart Mobility LLC since March 2016. Reporting to Executive Chairman Bill Ford, Hackett will lead Ford’s worldwide operations and 202,000 employees globally. He succeeds Mark Fields, 56, who has elected to retire from Ford after a successful 28-year career with the company. “We’re moving from a position of strength to transform Ford for the future,” Bill Ford said. “Jim Hackett is the right CEO to lead Ford during this transformative period for the auto industry and the broader mobility space. He’s a true visionary who brings a unique, human-centered leadership approach to our culture, products and services that will unlock the potential of our people and our business.” Added Hackett: “I am so excited to work with Bill Ford and the entire team to create an even more dynamic and vibrant Ford that improves people’s lives around the world, and creates value for all of our stakeholders. I have developed a deep appreciation for Ford’s people, values and heritage during the past four years as part of the company and look forward to working together with everyone tied to Ford during this transformative period.” Hackett, together with Bill Ford, will focus on three priorities: Sharpening operational execution across the global business to further enhance quality, go-to-market strategy; product launch, while decisively addressing underperforming parts of the business Modernizing Ford’s business, using new tools and techniques to unleash innovation, speed decision making and improve efficiency. This includes increasingly leveraging big data, artificial intelligence, advanced robotics, 3D printing and more Transforming the company to meet future challenges, ensuring the company has the right culture, talent, strategic processes and nimbleness to succeed as society’s needs and consumer behavior change over time Bill Ford and Ford’s Board of Directors thanked Fields for his significant contributions to the company. “Mark Fields has been an outstanding leader and deserves a lot of credit for all he has accomplished in his many roles around the globe at Ford," Bill Ford said. “His strong leadership was critical to our North American restructuring, our turnaround at the end of the last decade, and our record profits in the past two years." Also today, Ford announced a new structure for its operations and named three new leaders reporting to Hackett: Jim Farley, 54, is appointed executive vice president and president, Global Markets. In this role, Farley will oversee Ford’s business units, The Americas; Europe, Middle East & Africa and Asia Pacific. In addition, Farley will oversee Lincoln Motor Company and global Marketing Sales & Service. Farley has served as executive vice president and president, Ford of Europe, Middle East and Africa since January 2015. Farley will also oversee the strategy and business model development for electrified vehicles and autonomous vehicles. Joe Hinrichs, 50, is appointed executive vice president and president, Global Operations. In this role, Hinrichs will oversee Ford’s global Product Development; Manufacturing and Labor Affairs; Quality; Purchasing; and Sustainability, Environmental and Safety Engineering; Hinrichs has been serving as Ford executive vice president and president, The Americas, since December 2012. Marcy Klevorn, 57, is appointed executive vice president and president, Mobility. In this role, Klevorn will oversee Ford Smart Mobility LLC, which was formed last year to accelerate the company’s plans to design, build, grow and invest in emerging mobility services, as well as Information Technology and Global Data, Insight and Analytics. Klevorn has served as group vice president, Information Technology and Chief Information Officer since January 2017. All three appointments are effective June 1. New leaders to succeed Hinrichs, Farley and Klevorn will be the subject of a future announcement. “We are fortunate to have three dynamic and talented leaders in Jim Farley, Joe Hinrichs and Marcy Klevorn taking on greater responsibility,” Bill Ford said. “Each has a track record of driving innovation, cost efficiency and delivering results around the world. They will work closely with Jim Hackett to lead Ford’s day-to-day operations, build our brand and capitalize on emerging opportunities.” In addition, Ford appointed Mark Truby, 47, vice president, Communications, effective immediately, reporting to Bill Ford. He was elected a company officer. Truby has previously led Ford’s Communications teams in Asia Pacific and Europe, Middle East & Africa. Truby succeeds Ray Day, who plans to retire from the company next year and will provide consulting services until then. Ford also elected Paul Ballew, 52, as Global Chief Data and Analytics Officer, reporting to Klevorn. Ballew has been leading Ford’s global data and analytics teams since December 2014, including development of new capabilities supporting connectivity and smart mobility. View full article
  2. This morning, Ford announced that current CEO Mark Fields will be stepping down as CEO. Taking his place is Jim Hackett, former CEO of Steelcase (an office furniture manufacturer) and chairman of Ford's self-driving unit. “Mark Fields has been an outstanding leader and deserves a lot of credit for all he has accomplished in his many roles around the globe at Ford. His strong leadership was critical to our North American restructuring, our turnaround at the end of the last decade, and our record profits in the past two years," said Bill Ford in a statement. The news was first broke by Forbes last night and later corroborated by the New York Times last night. According to unnamed sources, Ford's Executive Chairman Bill Ford and the board of directors lost confidence in Fields' ability to lead the company as he was unable to rally employees around a common theme or make fast decisions. His predecessor, Alan Mullaly was very good at those things. “Without Alan, it’s back to the inmates running the asylum,” a source told Forbes. Not helping matters is Ford's stock price dropping 40 percent during Fields' three-year tenure. The New York Times reports that the decision to remove Fields as CEO took place on Friday with The Detroit News reporting that Bill Ford delivering the news to Fields after a board meeting. “We need to re-energize our business and sharpen our execution. The good news is we have the financial resources and the talent to get it done. But what we needed is a transformative leader who has done it before. And who not only has the vision, but also knows how to get the organization to move toward that vision," Ford said in an interview with The Detroit News. “Jim has done this before. And he’s done it at an industrial company. And he’s done it at a company where he redefined it from what it was to what it could become. Jim will bring speed of decision-making. The world in which we are operating in today is very different from even three years ago.” Hackett was the CEO of Steelcase for over 20 years. He joined Ford's board of directors in 2013 and became the chairman of its Smart Mobility division in 2016. Hackett also worked as the interim athletic director of the University of Michigan from 2014-2016. “I am so excited to work with Bill Ford and the entire team to create an even more dynamic and vibrant Ford that improves people’s lives around the world, and creates value for all of our stakeholders. I have developed a deep appreciation for Ford’s people, values and heritage during the past four years as part of the company and look forward to working together with everyone tied to Ford during this transformative period,” said Hackett in a statement. Ford has also announced other management changes, Jim Farley, currently executive vice president and president, Ford of Europe, Middle East and Africa since January 2015 will become Ford's executive vice president and president, Global Markets. Joe Hinrichs, Ford's executive vice president and president for the Americas will move up to executive vice president and president, Global Operations. Marcy Klevorn, Ford's CTO will become executive vice president and president, Mobility. Source: Forbes, New York Times, (2), The Detroit News Press Release is on Page 2 FORD APPOINTS JIM HACKETT AS CEO TO STRENGTHEN OPERATIONS, TRANSFORM FOR FUTURE; FARLEY, HINRICHS, KLEVORN TAKE ON NEW ROLES Jim Hackett named as Ford Motor Company president and CEO, succeeding Mark Fields, who is retiring. Hackett, who will report to Executive Chairman Bill Ford, is recognized as a transformational business leader Hackett led Steelcase Inc.’s turnaround to become the world’s No. 1 office furniture maker, served as interim Athletic Director at University of Michigan and has led Ford Smart Mobility LLC since March 2016. He served on Ford’s board from 2013 to 2016 Hackett, together with Bill Ford, will focus on three priorities: Sharpening operational execution, modernizing Ford’s present business and transforming the company to meet tomorrow’s challenges Ford also named leaders to three new roles under Hackett. Jim Farley is appointed executive vice president and president, Global Markets, Joe Hinrichs is appointed executive vice president and president, Global Operations, and Marcy Klevorn is appointed executive vice president and president, Mobility Mark Truby is appointed vice president, Communications, and elected a company officer. He succeeds Ray Day, who plans to retire from the company next year and will provide consulting services until then Paul Ballew is appointed vice president and Chief Data and Analytics Officer DEARBORN, May 22, 2017 – Ford Motor Company today named Jim Hackett as its new president and CEO and announced key global leadership changes designed to further strengthen its core automotive business and accelerate a strategic shift to capitalize on emerging opportunities. Hackett, 62, has a long track record of innovation and business success as CEO of Steelcase, Interim Athletic Director at the University of Michigan and executive chairman of Ford Smart Mobility LLC since March 2016. Reporting to Executive Chairman Bill Ford, Hackett will lead Ford’s worldwide operations and 202,000 employees globally. He succeeds Mark Fields, 56, who has elected to retire from Ford after a successful 28-year career with the company. “We’re moving from a position of strength to transform Ford for the future,” Bill Ford said. “Jim Hackett is the right CEO to lead Ford during this transformative period for the auto industry and the broader mobility space. He’s a true visionary who brings a unique, human-centered leadership approach to our culture, products and services that will unlock the potential of our people and our business.” Added Hackett: “I am so excited to work with Bill Ford and the entire team to create an even more dynamic and vibrant Ford that improves people’s lives around the world, and creates value for all of our stakeholders. I have developed a deep appreciation for Ford’s people, values and heritage during the past four years as part of the company and look forward to working together with everyone tied to Ford during this transformative period.” Hackett, together with Bill Ford, will focus on three priorities: Sharpening operational execution across the global business to further enhance quality, go-to-market strategy; product launch, while decisively addressing underperforming parts of the business Modernizing Ford’s business, using new tools and techniques to unleash innovation, speed decision making and improve efficiency. This includes increasingly leveraging big data, artificial intelligence, advanced robotics, 3D printing and more Transforming the company to meet future challenges, ensuring the company has the right culture, talent, strategic processes and nimbleness to succeed as society’s needs and consumer behavior change over time Bill Ford and Ford’s Board of Directors thanked Fields for his significant contributions to the company. “Mark Fields has been an outstanding leader and deserves a lot of credit for all he has accomplished in his many roles around the globe at Ford," Bill Ford said. “His strong leadership was critical to our North American restructuring, our turnaround at the end of the last decade, and our record profits in the past two years." Also today, Ford announced a new structure for its operations and named three new leaders reporting to Hackett: Jim Farley, 54, is appointed executive vice president and president, Global Markets. In this role, Farley will oversee Ford’s business units, The Americas; Europe, Middle East & Africa and Asia Pacific. In addition, Farley will oversee Lincoln Motor Company and global Marketing Sales & Service. Farley has served as executive vice president and president, Ford of Europe, Middle East and Africa since January 2015. Farley will also oversee the strategy and business model development for electrified vehicles and autonomous vehicles. Joe Hinrichs, 50, is appointed executive vice president and president, Global Operations. In this role, Hinrichs will oversee Ford’s global Product Development; Manufacturing and Labor Affairs; Quality; Purchasing; and Sustainability, Environmental and Safety Engineering; Hinrichs has been serving as Ford executive vice president and president, The Americas, since December 2012. Marcy Klevorn, 57, is appointed executive vice president and president, Mobility. In this role, Klevorn will oversee Ford Smart Mobility LLC, which was formed last year to accelerate the company’s plans to design, build, grow and invest in emerging mobility services, as well as Information Technology and Global Data, Insight and Analytics. Klevorn has served as group vice president, Information Technology and Chief Information Officer since January 2017. All three appointments are effective June 1. New leaders to succeed Hinrichs, Farley and Klevorn will be the subject of a future announcement. “We are fortunate to have three dynamic and talented leaders in Jim Farley, Joe Hinrichs and Marcy Klevorn taking on greater responsibility,” Bill Ford said. “Each has a track record of driving innovation, cost efficiency and delivering results around the world. They will work closely with Jim Hackett to lead Ford’s day-to-day operations, build our brand and capitalize on emerging opportunities.” In addition, Ford appointed Mark Truby, 47, vice president, Communications, effective immediately, reporting to Bill Ford. He was elected a company officer. Truby has previously led Ford’s Communications teams in Asia Pacific and Europe, Middle East & Africa. Truby succeeds Ray Day, who plans to retire from the company next year and will provide consulting services until then. Ford also elected Paul Ballew, 52, as Global Chief Data and Analytics Officer, reporting to Klevorn. Ballew has been leading Ford’s global data and analytics teams since December 2014, including development of new capabilities supporting connectivity and smart mobility.
  3. Fiat Chrysler Automobiles is hoping to get back in the good graces of the EPA after it was alleged the company violated diesel emission standards by failing to disclose eight different software programs used on the 3.0L EcoDiesel V6. On Friday, FCA announced that it had submitted a diesel emissions certification application for the 2017 Jeep Grand Cherokee and Ram 1500. These models feature new emissions control software that should hopefully get them approved. FCA says if the 2017 models get the green light, it will update 2014-2016 models with the updated software. "The filing is the result of many months of close collaboration between FCA US and EPA and CARB, including extensive testing of the vehicles, to clarify issues related to the Company’s emissions control technology. With the permission of EPA and CARB, FCA US intends to install the same modified emissions software in 2014-2016 MY Jeep Grand Cherokee and Ram 1500 diesel vehicles. FCA US believes this will address the agencies’ concerns regarding the emissions software calibrations in those vehicles," the company said in a statement. "FCA US also believes that these actions should help facilitate a prompt resolution to ongoing discussions with the Environment and Natural Resources Division of the U.S. Department of Justice and other governmental agencies." FCA better hope so as there is the possibility of a lawsuit from the U.S. Justice Department over the alleged emission violations. Source: Fiat Chrysler Automobiles Press Release is on Page 2 FCA US Files for Diesel Vehicle Certification May 19, 2017 , Auburn Hills, Mich. - FCA US announced today it has formally filed an application for diesel vehicle emissions certification with the U.S. Environmental Protection Agency (EPA) and the California Air Resources Board (CARB) for its 2017 model-year (MY) Jeep® Grand Cherokee and Ram 1500 diesel vehicles. These vehicles feature updated emissions software calibrations. The filing is the result of many months of close collaboration between FCA US and EPA and CARB, including extensive testing of the vehicles, to clarify issues related to the Company’s emissions control technology. With the permission of EPA and CARB, FCA US intends to install the same modified emissions software in 2014-2016 MY Jeep Grand Cherokee and Ram 1500 diesel vehicles. FCA US believes this will address the agencies’ concerns regarding the emissions software calibrations in those vehicles. FCA US also believes that these actions should help facilitate a prompt resolution to ongoing discussions with the Environment and Natural Resources Division of the U.S. Department of Justice and other governmental agencies. FCA US expects that following EPA and CARB approval, owners of the 2014-2016 MY vehicles will be able to receive the software updates at their dealerships. FCA expects that the installation of these updated software calibrations will improve the 2014-2016 MY vehicles’ emissions performance and does not anticipate any impact on performance or fuel efficiency. View full article
  4. Fiat Chrysler Automobiles is hoping to get back in the good graces of the EPA after it was alleged the company violated diesel emission standards by failing to disclose eight different software programs used on the 3.0L EcoDiesel V6. On Friday, FCA announced that it had submitted a diesel emissions certification application for the 2017 Jeep Grand Cherokee and Ram 1500. These models feature new emissions control software that should hopefully get them approved. FCA says if the 2017 models get the green light, it will update 2014-2016 models with the updated software. "The filing is the result of many months of close collaboration between FCA US and EPA and CARB, including extensive testing of the vehicles, to clarify issues related to the Company’s emissions control technology. With the permission of EPA and CARB, FCA US intends to install the same modified emissions software in 2014-2016 MY Jeep Grand Cherokee and Ram 1500 diesel vehicles. FCA US believes this will address the agencies’ concerns regarding the emissions software calibrations in those vehicles," the company said in a statement. "FCA US also believes that these actions should help facilitate a prompt resolution to ongoing discussions with the Environment and Natural Resources Division of the U.S. Department of Justice and other governmental agencies." FCA better hope so as there is the possibility of a lawsuit from the U.S. Justice Department over the alleged emission violations. Source: Fiat Chrysler Automobiles Press Release is on Page 2 FCA US Files for Diesel Vehicle Certification May 19, 2017 , Auburn Hills, Mich. - FCA US announced today it has formally filed an application for diesel vehicle emissions certification with the U.S. Environmental Protection Agency (EPA) and the California Air Resources Board (CARB) for its 2017 model-year (MY) Jeep® Grand Cherokee and Ram 1500 diesel vehicles. These vehicles feature updated emissions software calibrations. The filing is the result of many months of close collaboration between FCA US and EPA and CARB, including extensive testing of the vehicles, to clarify issues related to the Company’s emissions control technology. With the permission of EPA and CARB, FCA US intends to install the same modified emissions software in 2014-2016 MY Jeep Grand Cherokee and Ram 1500 diesel vehicles. FCA US believes this will address the agencies’ concerns regarding the emissions software calibrations in those vehicles. FCA US also believes that these actions should help facilitate a prompt resolution to ongoing discussions with the Environment and Natural Resources Division of the U.S. Department of Justice and other governmental agencies. FCA US expects that following EPA and CARB approval, owners of the 2014-2016 MY vehicles will be able to receive the software updates at their dealerships. FCA expects that the installation of these updated software calibrations will improve the 2014-2016 MY vehicles’ emissions performance and does not anticipate any impact on performance or fuel efficiency.
  5. The internet went mad yesterday when spy shots of a unique 300 SRT mule was caught. The pictures - caught at an apartment complex and on the highway - show a 300 SRT sporting some wider fenders and a set of drag radials. The spy photographer notes the wheels fitted to the 300 are the same ones that Dodge was using for the early Demon mules. Behind the wheels are a set of four-piston Brembo brakes. Also, the spy photographer says the mule was making engine noises similar to the Charger/Challenger Hellcat. What could this be? It might just be an engineering mule that will likely not go into production. Another possibility is Chrysler building a Hellcat version of 300 for certain markets. While Chrysler hasn't sold the 300 SRT in the U.S. for a few years, it is sold in other markets such as the Middle East and Australia. Source: Autoblog, Car and Driver View full article
  6. The internet went mad yesterday when spy shots of a unique 300 SRT mule was caught. The pictures - caught at an apartment complex and on the highway - show a 300 SRT sporting some wider fenders and a set of drag radials. The spy photographer notes the wheels fitted to the 300 are the same ones that Dodge was using for the early Demon mules. Behind the wheels are a set of four-piston Brembo brakes. Also, the spy photographer says the mule was making engine noises similar to the Charger/Challenger Hellcat. What could this be? It might just be an engineering mule that will likely not go into production. Another possibility is Chrysler building a Hellcat version of 300 for certain markets. While Chrysler hasn't sold the 300 SRT in the U.S. for a few years, it is sold in other markets such as the Middle East and Australia. Source: Autoblog, Car and Driver
  7. As if Fiat Chrysler Automobiles didn't have enough things on its plate, there is talk about the U.S. Justice Department readying a lawsuit over alleged violations of U.S. clean-air rules with their diesel vehicles Bloomberg learned from two sources that the Justice Department is preparing a lawsuit against FCA alleging the company used illegal defeat devices on models equipped with the 3.0L EcoDiesel V6. The defeat devices in question disable emission controls to improve performance. Sources go on to say the lawsuit could be filed this week if negotiations between FCA and the U.S. Government fail to resolve the differences. Back in January, the EPA accused FCA of violating diesel emission standards on 104,000 Jeep Grand Cherokee and Ram 1500 models equipped with the 3.0L EcoDiesel from 2014 to 2016 model years. The company did not disclose eight different software programs installed on the 3.0L EcoDiesel, which is a violation of the Clean Air Act. Since then, the two have been in negotiations to try and resolve these issues according to a source. “In the case of any litigation, FCA US will defend itself vigorously, particularly against any claims that the company deliberately installed defeat devices to cheat U.S. emissions tests. The company believes that any litigation would be counterproductive to ongoing discussions with the U.S. Environmental Protection Agency and the California Air Resources Board,” FCA said in a emailed statement. Spokespeople for the EPA and Justice Department declined to comment. Source: Bloomberg View full article
  8. As if Fiat Chrysler Automobiles didn't have enough things on its plate, there is talk about the U.S. Justice Department readying a lawsuit over alleged violations of U.S. clean-air rules with their diesel vehicles Bloomberg learned from two sources that the Justice Department is preparing a lawsuit against FCA alleging the company used illegal defeat devices on models equipped with the 3.0L EcoDiesel V6. The defeat devices in question disable emission controls to improve performance. Sources go on to say the lawsuit could be filed this week if negotiations between FCA and the U.S. Government fail to resolve the differences. Back in January, the EPA accused FCA of violating diesel emission standards on 104,000 Jeep Grand Cherokee and Ram 1500 models equipped with the 3.0L EcoDiesel from 2014 to 2016 model years. The company did not disclose eight different software programs installed on the 3.0L EcoDiesel, which is a violation of the Clean Air Act. Since then, the two have been in negotiations to try and resolve these issues according to a source. “In the case of any litigation, FCA US will defend itself vigorously, particularly against any claims that the company deliberately installed defeat devices to cheat U.S. emissions tests. The company believes that any litigation would be counterproductive to ongoing discussions with the U.S. Environmental Protection Agency and the California Air Resources Board,” FCA said in a emailed statement. Spokespeople for the EPA and Justice Department declined to comment. Source: Bloomberg
  9. General Motors will soon be exiting two more global marketplaces. This morning, the company announced that it would be cease selling vehicles in India and end its operations in South Africa by the end of this year. “As the industry continues to change, we are transforming our business, establishing GM as a more focused and disciplined company. We are committed to deploying capital to higher return initiatives that will enable us to lead in our core business and in the future of personal mobility," GM CEO Mary Barra said in a statement. As we reported back in March, GM said it was "considering reducing investments in North American cars and "select" international markets" during a call with analysts. At the time, GM was keeping quiet what markets could see cuts. “Recent actions by General Motors demonstrate clearly it is not the GM of old. Today's GM management is correctly focused on profits, not sales volume and market share. It has shown a willingness to cut its losses if there's no clear path to profitability and market dominance," said Michelle Krebs, executive analyst for Autotrader to the Detroit Free Press. India In India, the decision to end sales doesn't come as a surprise. Despite being one of the first automakers to enter the market, sales of Chevrolet vehicles (only GM brand to be sold) never made a dent. Autocar India reports that sales from March-April 2017 dropped 6,717 units to 25,823. Market share also saw a sharp drop from 1.17 percent to 0.85 percent. Analysts tell Reuters the part of the reason GM wasn't able to make any inroads into India was failing "to launch low-cost yet feature-rich vehicles that Indian buyers prefer." Also the high servicing costs drew many people away. “We determined that the increased investment required for an extensive and flexible product portfolio would not deliver a leadership position or long-term profitability in the domestic market,” said Stefan Jacoby, executive vice president and president for GM International. General Motors isn't leaving India entirely. The company will still operate its tech center in Bangalore and transition of its two assembly plants to building vehicles for export. The other assembly plant will be sold to their joint venture partner in China, SAIC. "We are not giving up benefits India offers as a local cost manufacturing hub with an excellent supplier base which is extremely competitive," said Jacoby. South Africa In South Africa, General Motors will cease selling Chevrolet vehicles and transition their operations to Isuzu. This includes the purchase of GM's light commercial vehicle assembly plant in Port Elizabeth, along with control of GM's Parts Distribution Centre and Vehicle Conversion and Distribution Centre. "After a thorough assessment of our South African operations, we believe it is best for Isuzu to integrate our light commercial vehicle manufacturing operations into its African business. We determined that continued or increased investment in manufacturing in South Africa would not provide GM the expected returns of other global investment opportunities," said Jacoby. “These decisions were not made lightly. We appreciate the support that our employees, customers, dealers, suppliers, the government and other key stakeholders have given us over the many years that we have operated in this country. We will manage the transition as smoothly as possible,” said GM South Africa president and managing director, Ian Nicholls. General Motors says servicing and support will continue in both markets for owners. Source: Reuters , Autocar India , Detroit Free Press , Car Magazine SA, Wheels24 Press Release is on Page 2 General Motors Restructures International Markets to Strengthen Global Business Performance GM India to focus on export manufacturing Isuzu Motors to purchase GM South Africa light commercial vehicle manufacturing operations Chevrolet to be phased out of Indian and South African markets SINGAPORE – General Motors (NYSE: GM) today announced key restructuring actions in its GM International operations to drive stronger financial performance and focus its capital and resources on business opportunities expected to deliver higher returns. The company will focus its GM India manufacturing operations on producing vehicles for export only and will transition GM South Africa manufacturing to Isuzu Motors. GM’s Chevrolet brand will be phased out of both markets by the end of 2017. “As the industry continues to change, we are transforming our business, establishing GM as a more focused and disciplined company,” said GM Chairman and CEO Mary Barra. “We are committed to deploying capital to higher return initiatives that will enable us to lead in our core business and in the future of personal mobility. “Globally, we are now in the right markets to drive profitability, strengthen our business performance and capitalize on growth opportunities for the long term. We will continue to optimize our operations market by market to further improve our competitiveness and cost base.” These decisions were made following an extensive review of operations in GM International markets and reflect a series of actions taken to improve global business performance that began in late 2013. "These actions will further allow us to focus our resources on winning in the markets where we have strong franchises and see greater opportunity," said GM President Dan Ammann. “We have compelling plans for growth in both the top line and the bottom line as we invest for the future." GM Executive Vice President and President, GM International, Stefan Jacoby said the company is running its GM International markets with an enterprise approach and making decisions that are best for the global business. “In India, our exports have tripled over the past year, and this will remain our focus going forward,” he said. “We determined that the increased investment required for an extensive and flexible product portfolio would not deliver a leadership position or long-term profitability in the domestic market.” In South Africa, Isuzu will acquire GM’s light commercial vehicle manufacturing and GM will cease manufacturing and sales of Chevrolet in the domestic market, subject to local regulatory requirements. “After a thorough assessment of our South African operations, we believe it is best for Isuzu to integrate our light commercial vehicle manufacturing operations into its African business,” said Jacoby. “We determined that continued or increased investment in manufacturing in South Africa would not provide GM the expected returns of other global investment opportunities.” Under the improvement actions announced: India: GM’s manufacturing facility at Talegaon will continue as an export hub for Mexico and Central and South American markets. GM will cease sales of Chevrolet vehicles in the domestic market by the end of 2017. Existing Chevrolet customers will continue to be supported in the market. South Africa: Isuzu will purchase GM’s Struandale plant and GM’s remaining 30 percent shareholding in the Isuzu Truck South Africa joint venture, with sales through a national dealer network. Isuzu will also purchase GM’s Vehicle Conversion and Distribution Centre and assume control of the Parts Distribution Centre. The company will phase out the Chevrolet brand in South Africa by the end of 2017. GM continues to work with PSA Group to evaluate future opportunity for the Opel brand in South Africa. Importantly, existing Chevrolet and Opel customers will continue to be supported in the market. East Africa: As announced on February 28, Isuzu has agreed to purchase GM’s 57.7 percent shareholding in GM East Africa, assuming management control. GM will withdraw sales of the Chevrolet brand from the market. Singapore: GM International will streamline its regional headquarters office in Singapore, which will retain responsibility for strategic oversight of the remaining regional business and markets, including Australia and New Zealand, India, Korea and Southeast Asia. This will deliver greater organizational efficiencies while leveraging global resources and in-market expertise. Across affected markets, GM is working with employees, their union representatives and local authorities to provide transition support. As a result of these actions, GM expects to realize annual savings of approximately $100 million and plans to take a charge of approximately $500 million in the second quarter of 2017. The charge will be treated as special and excluded from the company’s EBIT-adjusted results. About $200 million of the special charge will be cash expenses. View full article
  10. General Motors will soon be exiting two more global marketplaces. This morning, the company announced that it would be cease selling vehicles in India and end its operations in South Africa by the end of this year. “As the industry continues to change, we are transforming our business, establishing GM as a more focused and disciplined company. We are committed to deploying capital to higher return initiatives that will enable us to lead in our core business and in the future of personal mobility," GM CEO Mary Barra said in a statement. As we reported back in March, GM said it was "considering reducing investments in North American cars and "select" international markets" during a call with analysts. At the time, GM was keeping quiet what markets could see cuts. “Recent actions by General Motors demonstrate clearly it is not the GM of old. Today's GM management is correctly focused on profits, not sales volume and market share. It has shown a willingness to cut its losses if there's no clear path to profitability and market dominance," said Michelle Krebs, executive analyst for Autotrader to the Detroit Free Press. India In India, the decision to end sales doesn't come as a surprise. Despite being one of the first automakers to enter the market, sales of Chevrolet vehicles (only GM brand to be sold) never made a dent. Autocar India reports that sales from March-April 2017 dropped 6,717 units to 25,823. Market share also saw a sharp drop from 1.17 percent to 0.85 percent. Analysts tell Reuters the part of the reason GM wasn't able to make any inroads into India was failing "to launch low-cost yet feature-rich vehicles that Indian buyers prefer." Also the high servicing costs drew many people away. “We determined that the increased investment required for an extensive and flexible product portfolio would not deliver a leadership position or long-term profitability in the domestic market,” said Stefan Jacoby, executive vice president and president for GM International. General Motors isn't leaving India entirely. The company will still operate its tech center in Bangalore and transition of its two assembly plants to building vehicles for export. The other assembly plant will be sold to their joint venture partner in China, SAIC. "We are not giving up benefits India offers as a local cost manufacturing hub with an excellent supplier base which is extremely competitive," said Jacoby. South Africa In South Africa, General Motors will cease selling Chevrolet vehicles and transition their operations to Isuzu. This includes the purchase of GM's light commercial vehicle assembly plant in Port Elizabeth, along with control of GM's Parts Distribution Centre and Vehicle Conversion and Distribution Centre. "After a thorough assessment of our South African operations, we believe it is best for Isuzu to integrate our light commercial vehicle manufacturing operations into its African business. We determined that continued or increased investment in manufacturing in South Africa would not provide GM the expected returns of other global investment opportunities," said Jacoby. “These decisions were not made lightly. We appreciate the support that our employees, customers, dealers, suppliers, the government and other key stakeholders have given us over the many years that we have operated in this country. We will manage the transition as smoothly as possible,” said GM South Africa president and managing director, Ian Nicholls. General Motors says servicing and support will continue in both markets for owners. Source: Reuters , Autocar India , Detroit Free Press , Car Magazine SA, Wheels24 Press Release is on Page 2 General Motors Restructures International Markets to Strengthen Global Business Performance GM India to focus on export manufacturing Isuzu Motors to purchase GM South Africa light commercial vehicle manufacturing operations Chevrolet to be phased out of Indian and South African markets SINGAPORE – General Motors (NYSE: GM) today announced key restructuring actions in its GM International operations to drive stronger financial performance and focus its capital and resources on business opportunities expected to deliver higher returns. The company will focus its GM India manufacturing operations on producing vehicles for export only and will transition GM South Africa manufacturing to Isuzu Motors. GM’s Chevrolet brand will be phased out of both markets by the end of 2017. “As the industry continues to change, we are transforming our business, establishing GM as a more focused and disciplined company,” said GM Chairman and CEO Mary Barra. “We are committed to deploying capital to higher return initiatives that will enable us to lead in our core business and in the future of personal mobility. “Globally, we are now in the right markets to drive profitability, strengthen our business performance and capitalize on growth opportunities for the long term. We will continue to optimize our operations market by market to further improve our competitiveness and cost base.” These decisions were made following an extensive review of operations in GM International markets and reflect a series of actions taken to improve global business performance that began in late 2013. "These actions will further allow us to focus our resources on winning in the markets where we have strong franchises and see greater opportunity," said GM President Dan Ammann. “We have compelling plans for growth in both the top line and the bottom line as we invest for the future." GM Executive Vice President and President, GM International, Stefan Jacoby said the company is running its GM International markets with an enterprise approach and making decisions that are best for the global business. “In India, our exports have tripled over the past year, and this will remain our focus going forward,” he said. “We determined that the increased investment required for an extensive and flexible product portfolio would not deliver a leadership position or long-term profitability in the domestic market.” In South Africa, Isuzu will acquire GM’s light commercial vehicle manufacturing and GM will cease manufacturing and sales of Chevrolet in the domestic market, subject to local regulatory requirements. “After a thorough assessment of our South African operations, we believe it is best for Isuzu to integrate our light commercial vehicle manufacturing operations into its African business,” said Jacoby. “We determined that continued or increased investment in manufacturing in South Africa would not provide GM the expected returns of other global investment opportunities.” Under the improvement actions announced: India: GM’s manufacturing facility at Talegaon will continue as an export hub for Mexico and Central and South American markets. GM will cease sales of Chevrolet vehicles in the domestic market by the end of 2017. Existing Chevrolet customers will continue to be supported in the market. South Africa: Isuzu will purchase GM’s Struandale plant and GM’s remaining 30 percent shareholding in the Isuzu Truck South Africa joint venture, with sales through a national dealer network. Isuzu will also purchase GM’s Vehicle Conversion and Distribution Centre and assume control of the Parts Distribution Centre. The company will phase out the Chevrolet brand in South Africa by the end of 2017. GM continues to work with PSA Group to evaluate future opportunity for the Opel brand in South Africa. Importantly, existing Chevrolet and Opel customers will continue to be supported in the market. East Africa: As announced on February 28, Isuzu has agreed to purchase GM’s 57.7 percent shareholding in GM East Africa, assuming management control. GM will withdraw sales of the Chevrolet brand from the market. Singapore: GM International will streamline its regional headquarters office in Singapore, which will retain responsibility for strategic oversight of the remaining regional business and markets, including Australia and New Zealand, India, Korea and Southeast Asia. This will deliver greater organizational efficiencies while leveraging global resources and in-market expertise. Across affected markets, GM is working with employees, their union representatives and local authorities to provide transition support. As a result of these actions, GM expects to realize annual savings of approximately $100 million and plans to take a charge of approximately $500 million in the second quarter of 2017. The charge will be treated as special and excluded from the company’s EBIT-adjusted results. About $200 million of the special charge will be cash expenses.
  11. The Dodge Challenger SRT Demon is generating a lot of excitement and some Dodge dealers are beginning to take deposits for it. One issue though, dealers don't have information on pricing or instructions on how to order one which could mean that you might not end up with one. "Technically, no one should be taking any deposits. They can't physically take an order, and they shouldn't be taking any deposits," said Tim Kuniskis, head of passenger car brands at Fiat Chrysler Automobiles to Roadshow. The reason why? Kuniskis says "we haven't given the dealers the allocation methodology, the allocation numbers or opened up the order banks yet." There is also precedent for Kuniskis' warning. When Dodge was readying to launch the Challenger Hellcar, many dealers took deposits on the model without knowing how many they would receive. The end result was some people not getting a Hellcat. "They're much more careful because of what we went through on Hellcat. Because we had dealers take deposits on Hellcats, they would take 10, 15, 20 deposits, and then they would only ultimately get allocated 5 cars. And then they would have upset customers. So they're being much more -- or at least it appears -- that they're being much more careful this time." Dodge plans on pricing and ordering information out to dealers by next month. Source: Roadshow View full article
  12. The Dodge Challenger SRT Demon is generating a lot of excitement and some Dodge dealers are beginning to take deposits for it. One issue though, dealers don't have information on pricing or instructions on how to order one which could mean that you might not end up with one. "Technically, no one should be taking any deposits. They can't physically take an order, and they shouldn't be taking any deposits," said Tim Kuniskis, head of passenger car brands at Fiat Chrysler Automobiles to Roadshow. The reason why? Kuniskis says "we haven't given the dealers the allocation methodology, the allocation numbers or opened up the order banks yet." There is also precedent for Kuniskis' warning. When Dodge was readying to launch the Challenger Hellcar, many dealers took deposits on the model without knowing how many they would receive. The end result was some people not getting a Hellcat. "They're much more careful because of what we went through on Hellcat. Because we had dealers take deposits on Hellcats, they would take 10, 15, 20 deposits, and then they would only ultimately get allocated 5 cars. And then they would have upset customers. So they're being much more -- or at least it appears -- that they're being much more careful this time." Dodge plans on pricing and ordering information out to dealers by next month. Source: Roadshow
  13. A day after reports saying Ford was planning a significant layoff of its global workforce, the company has cleared the air on the cuts. In a statement issued today, Ford announced that it would be cutting 10 percent of its salaried employees in North America and Asia - roughly 1,400 employees. Ford says the cuts are needed to reduce costs as the company readies for a slowdown in sales and investing more into new technologies. "We remain focused on the three strategic priorities that will create value and drive profitable growth, which include fortifying the profit pillars in our core business, transforming traditionally underperforming areas of our core business and investing aggressively, but prudently, in emerging opportunities," the company said in a statement. According to Automotive News, Ford will offer workers voluntary early retirement and special separation packages to reach their goal. Two-thirds of the cuts will come from the North America region. As we reported yesterday, the job cuts are part of Ford's plans to cut costs by $3 billion. Source: Automotive News (Subscription Required) View full article
  14. A day after reports saying Ford was planning a significant layoff of its global workforce, the company has cleared the air on the cuts. In a statement issued today, Ford announced that it would be cutting 10 percent of its salaried employees in North America and Asia - roughly 1,400 employees. Ford says the cuts are needed to reduce costs as the company readies for a slowdown in sales and investing more into new technologies. "We remain focused on the three strategic priorities that will create value and drive profitable growth, which include fortifying the profit pillars in our core business, transforming traditionally underperforming areas of our core business and investing aggressively, but prudently, in emerging opportunities," the company said in a statement. According to Automotive News, Ford will offer workers voluntary early retirement and special separation packages to reach their goal. Two-thirds of the cuts will come from the North America region. As we reported yesterday, the job cuts are part of Ford's plans to cut costs by $3 billion. Source: Automotive News (Subscription Required)
  15. Lamborghini has been somewhat quiet on their upcoming SUV, the Urus. But a recent report from Automotive News begins to reveal some interesting details. Speaking with Lamborghini CEO Stefano Domenicali, the Urus will pack a twin-turbo V8 engine producing 650 horsepower. There will also be plug-in hybrid version that will use the twin-turbo V8. The model is expected to be shown towards the end of this year at Lamborghini's factory in Sant'agata Bolognese, Italy. Sales will begin in the second quarter next year for Europe, with the U.S. following in the third quarter. Source: Automotive News (Subscription Required)
  16. Lamborghini has been somewhat quiet on their upcoming SUV, the Urus. But a recent report from Automotive News begins to reveal some interesting details. Speaking with Lamborghini CEO Stefano Domenicali, the Urus will pack a twin-turbo V8 engine producing 650 horsepower. There will also be plug-in hybrid version that will use the twin-turbo V8. The model is expected to be shown towards the end of this year at Lamborghini's factory in Sant'agata Bolognese, Italy. Sales will begin in the second quarter next year for Europe, with the U.S. following in the third quarter. Source: Automotive News (Subscription Required) View full article
  17. Ford isn't doing so well at the moment as profits and stock prices are tumbling downward. To try and reverse this trend, the blue oval is considering cutting 10 percent of its global workforce. Both the Wall Street Journal and Reuters have learned from their respective sources the cuts are part of a previously announced plan to slash costs by $3 billion. The cuts will mostly affect salaried employees, with Reuters reporting Ford will offer generous early retirement incentives. To give you an idea of how jobs are on the chopping block, Ford currently 200,000 employees. A cut of 10 percent means 20,000 people are out of a job. "Reducing costs and becoming as lean and efficient as possible also remain part of that work. We have not announced any new people efficiency actions, nor do we comment on speculation," Ford said in a statement. Source: Reuters, Wall Street Journal (Subscription Required) View full article
  18. Ford isn't doing so well at the moment as profits and stock prices are tumbling downward. To try and reverse this trend, the blue oval is considering cutting 10 percent of its global workforce. Both the Wall Street Journal and Reuters have learned from their respective sources the cuts are part of a previously announced plan to slash costs by $3 billion. The cuts will mostly affect salaried employees, with Reuters reporting Ford will offer generous early retirement incentives. To give you an idea of how jobs are on the chopping block, Ford currently 200,000 employees. A cut of 10 percent means 20,000 people are out of a job. "Reducing costs and becoming as lean and efficient as possible also remain part of that work. We have not announced any new people efficiency actions, nor do we comment on speculation," Ford said in a statement. Source: Reuters, Wall Street Journal (Subscription Required)
  19. It seems Cadillac has some updates in store for the XTS if some leaked pictures from Chinese website Autohome are the real deal. The pictures show the XTS taking some ideas from the CT6 and XT5. Up front is a broader, more upright grille with new headlights. Around back is a more sculpted trunk lid and L-shaped taillights. Powertrains are expected to carry over, meaning the U.S. will stick with the 3.6L V6 and twin-turbo 3.6L. Over in China, the XTS will stick with the 2.0L turbo-four. We wouldn't be surprised if there is an update for the CUE system. Source: Autohome View full article
  20. It seems Cadillac has some updates in store for the XTS if some leaked pictures from Chinese website Autohome are the real deal. The pictures show the XTS taking some ideas from the CT6 and XT5. Up front is a broader, more upright grille with new headlights. Around back is a more sculpted trunk lid and L-shaped taillights. Powertrains are expected to carry over, meaning the U.S. will stick with the 3.6L V6 and twin-turbo 3.6L. Over in China, the XTS will stick with the 2.0L turbo-four. We wouldn't be surprised if there is an update for the CUE system. Source: Autohome
  21. While some automakers are running away from diesel power, others such as Mazda are jumping into it. Later this year, Mazda will launch a diesel engine for the redesigned CX-5. The company has set an ambitious goal having the diesel engine make up at least 10 percent of U.S. sales of the CX-5. “CX-5 will be a very good indicator for us to understand where we have the opportunity and what kind of people come to buy those new technologies,” said Mazda North American Operations President and CEO Masahiro Moro. When it goes on sale, the diesel engine will only be available on the top-line Grand Touring trim. Moro said the diesel engine could trickle down to other CX-5 trims down the road. But Mazda finds itself entering a marketplace that has become some hostile to diesel vehicles after it was found out that Volkswagen was using illegal software to pass emission tests. Diesel cars has also not been big sellers for most automakers. Moro said the company isn't aiming to “change” consumers’ minds about diesels, but give those who are interested another option. “I don’t intend to change American consumer mindset to diesel. We would like to provide a choice for customers who really appreciate those technologies.” Source: Automotive News (Subscription Required) View full article
  22. While some automakers are running away from diesel power, others such as Mazda are jumping into it. Later this year, Mazda will launch a diesel engine for the redesigned CX-5. The company has set an ambitious goal having the diesel engine make up at least 10 percent of U.S. sales of the CX-5. “CX-5 will be a very good indicator for us to understand where we have the opportunity and what kind of people come to buy those new technologies,” said Mazda North American Operations President and CEO Masahiro Moro. When it goes on sale, the diesel engine will only be available on the top-line Grand Touring trim. Moro said the diesel engine could trickle down to other CX-5 trims down the road. But Mazda finds itself entering a marketplace that has become some hostile to diesel vehicles after it was found out that Volkswagen was using illegal software to pass emission tests. Diesel cars has also not been big sellers for most automakers. Moro said the company isn't aiming to “change” consumers’ minds about diesels, but give those who are interested another option. “I don’t intend to change American consumer mindset to diesel. We would like to provide a choice for customers who really appreciate those technologies.” Source: Automotive News (Subscription Required)
  23. BMW is working on a number of electric vehicles that will be coming out in the coming years, including a replacement for the 3-Series GT. We reported back in January that the 3-Series GT would be cut from BMW's lineup possibly due to poor sales (we didn't fully buy the reason of 3-Series GT overlapping the 4-Series Gran Coupe and causing confusion for buyers). But a new report from Autocar says the 3-Series GT will live on as a 4-Series model. Due in 2019, the 4-Series GT will replace both 3-Series GT and 4-Series Gran Coupe - the latter according to report has been a slow-selling model. There is a dispute to this claim as Motor1 reported last month the Gran Coupe was the most popular variant of the 4-Series, making up 54 percent of global sales. Gas and diesel models will be available at launch, with an electric version aimed at Tesla's Model 3 following a year later. BMW has some ambitious targets for the 4-Series GT EV. Performance is expected to be similar to the quickest 3-Series GT, the 335d - 0-60 mph in 4.9 seconds and a top speed of 155 mph. Range is reportedly is said to be around 311 miles. There is debate on the powertrain layout for the 4-Series GT EV. BMW could go with either a single electric motor or a dual-motor setup that would provide all-wheel drive capability. To meet the 311 mile range, BMW is estimating needing a 90-kWh lithium-ion battery pack. But as the report says, it could drop to 70-kWh battery due to advances in cell performance and energy density. Source: Autocar View full article
  24. BMW is working on a number of electric vehicles that will be coming out in the coming years, including a replacement for the 3-Series GT. We reported back in January that the 3-Series GT would be cut from BMW's lineup possibly due to poor sales (we didn't fully buy the reason of 3-Series GT overlapping the 4-Series Gran Coupe and causing confusion for buyers). But a new report from Autocar says the 3-Series GT will live on as a 4-Series model. Due in 2019, the 4-Series GT will replace both 3-Series GT and 4-Series Gran Coupe - the latter according to report has been a slow-selling model. There is a dispute to this claim as Motor1 reported last month the Gran Coupe was the most popular variant of the 4-Series, making up 54 percent of global sales. Gas and diesel models will be available at launch, with an electric version aimed at Tesla's Model 3 following a year later. BMW has some ambitious targets for the 4-Series GT EV. Performance is expected to be similar to the quickest 3-Series GT, the 335d - 0-60 mph in 4.9 seconds and a top speed of 155 mph. Range is reportedly is said to be around 311 miles. There is debate on the powertrain layout for the 4-Series GT EV. BMW could go with either a single electric motor or a dual-motor setup that would provide all-wheel drive capability. To meet the 311 mile range, BMW is estimating needing a 90-kWh lithium-ion battery pack. But as the report says, it could drop to 70-kWh battery due to advances in cell performance and energy density. Source: Autocar
  25. Over two years ago, I spent some time in then redesigned Hyundai Genesis. Unlike most of the test vehicles that come with everything minus the kitchen sink, the Genesis 3.8 I had was a base model with no options. It would prove to be “a damn fine automobile” as it offered many of items and driving experience you would expect in a luxury vehicle, minus the price tag. Since then, Hyundai has spun off Genesis into its own brand and the vehicle wearing this name has gotten a new one, G80. When it was dropped off for a week’s long evaluation, I had to do a double take since it looked exactly the same as the model I drove back in late 2014. It was only when I looked around and saw changes to the interior and the HTRAC badge on the trunk lid did I realize the wool wasn’t being pulled over my eyes. The name might be the only significant change anyone will be able to point out with the G80, as the rest of it is still much the same as the 2015 Genesis. The only real changes between the two are new a grille insert featuring a radar module and HID headlights. At least the interior is slightly different. Some new trim materials such as matte wood and higher quality leather upholstery help make the G80 become a special place to sit in. That higher quality leather is only available when you order the Ultimate package. One other item the Ultimate package brings is a larger 9.2-inch HD touchscreen with a revamped infotainment system. A handsome, yet simple interface provides one of most user-friendly systems we have ever come across. It doesn’t hurt there are multiple ways of controlling the system such as using the touchscreen, a control knob in the center console, or the redundant buttons on the center stack. A big downside to this system is there is no Apple CarPlay or Android Auto compatibility. If you really want that, you’ll need to skip the Ultimate package and stick with the smaller 8-inch screen. I’m hoping this gets addressed with the 2018 model. Also, would it kill anyone at Genesis to add more USB ports?! There is only one in the entire vehicle which will cause arguments to happen on long trips. Otherwise, a lot of the traits that I liked in the previous Genesis remain in the G80 such as supportive front seats, roomy back seat, and high build quality. Power in my tester comes from a 3.8L V6 engine delivering 311 horsepower and 293 pound-feet of torque. An eight-speed automatic routes power to either the rear-wheels or in my case, an optional HTRAC all-wheel drive system. A 5.0L V8 offering up 420 horsepower is available as an option. Despite what the numbers say, the 3.8 doesn’t feel quick. A curb weight of 4,453 lbs for our test vehicle robs a fair amount of the V6’s performance. On the upside, the V6 is very refined with low levels of NVH. The engine also never feels like that it is running out of breath under acceleration. Fuel economy is disappointing with EPA figures of 16 City/25 Highway/19 Combined for the V6 HTRAC model. I saw an average of 20.4 mpg for the week. Genesis didn’t mess with the G80’s suspension tuning which is a very good thing. It still excels at smoothing over bumps and road imperfections. One improvement I would make is adding a little bit noise isolation. There was a fair amount of road noise that came into the cabin. If you’re looking for something exciting to drive in the class, I would say skip the G80. The soft suspension tuning leads to a fair amount of body roll when entering a corner a bit too enthusiastically. The price has crept up since the Genesis became the G80. Compared to the 2015 model I drove with a base price of $38,000, the 2017 G80 starts at $41,400. Add HTRAC and price creeps up to $43,900. Our test G80 3.8 HTRAC with the Premium and Ultimate packages came to an as-tested price of $53,800. Before you have a heart attack on the price, this is quite the value when you take into consideration what you get and the impressive build quality. But I think the best flavor of the G80 is with the Premium package. Skip the HTRAC AWD and you’ll end with a well-equipped luxury model for just a hair over $46,000. While Genesis is still trying to find its place in the luxury class market, the G80 shows that the brand is going in the right direction. Start with a good base and make some slight improvements to it. Yes, the G80 needs to lose some weight to help with the performance of the V6 and fuel economy. But if there anything I have learned with Hyundai and Kia, they are fast learners and make the necessary improvements. I wouldn’t be shocked if Genesis goes the same way. Disclaimer: Genesis Provided the G80, Insurance, and One Tank of Gas Year: 2017 Make: Genesis Model: G80 Trim: 3.8 HTRAC Engine: 3.8L DOHC 24-valve V6 with CVVT Driveline: Eight-Speed Automatic, All-Wheel Drive Horsepower @ RPM: 311 @ 6,000 Torque @ RPM: 293 @ 5,000 Fuel Economy: City/Highway/Combined - 16/25/19 Curb Weight: 4,453 lbs Location of Manufacture: Ulsan, South Korea Base Price: $43,900 As Tested Price: $53,800 (Includes $960.00 Destination Charge) Options: Premium Package - $4,750.00 Ultimate Package - $4,200.00 View full article
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