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William Maley

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Everything posted by William Maley

  1. William Maley
    More information about "Toyota's U.S. CEO Believes Car Sales Are Close to Bottoming Out"
    The past couple of years has seen a lot of talk about consumers are turning away from cars towards trucks and utility vehicles. U.S. automakers have responded to this trend by announcing cuts to their car lineup - General Motors being the latest one. But other automakers are being more cautious. Jim Lentz, CEO of Toyota North America told a gathering at the Detroit Economic Club last week that car sales are reaching the point of bottoming out - just under 30 percent in November sales. Unlike the American brands, Lentz isn't giving up on cars as they represent more than 4 million compact, midsize, and near-luxury cars sold to buyers. "There’s no way I’m going to walk away from that. We are always going to have a bias toward passenger cars,” said Lentz. The Associated Press reports that sales of passenger cars "are on pace to be 800,000 vehicles below 2017, while truck and SUV sales should increase by the same amount." Source: Associated Press
  2. William Maley
    "Since the arrest former Nissan chairman Carlos Ghosn last month, various reports have come out revealing the strained relationship between Nissan and its alliance partner, Renault. It has also brought up questions as to whether or not Nissan decided to 'push' Ghosn out by using the misuse of corporate assets as the reason. A new report from The Wall Street Journal is only stoking those fires. Sources tell the paper that Ghosn was planning to "shake up the senior management ranks at Nissan" and told some executives that he was planning on replacing current Nissan CEO Hiroto Saikawa - his hand-picked successor. While Ghosn supported Saikawa in public, the two would clash over various problems the company was facing. This included, Problems with inspections done on JDM vehicles, prompting recalls of more than a million vehicles Declining sales in the U.S. According to one source, Ghosn wanted to oust Saikawa and planned to put it to a vote at a board meeting in November. But that would not happen as Ghosn would be arrested in early on in the month. The board would oust Ghosn at a meeting later on in the month. Some believed that Saikawa wasn't in danger. A source familiar with the relationship between the two said "their differences hadn’t reached a point where Mr. Ghosn would have contemplated removing Mr. Saikawa." Still, Saikawa's reputation is taking quite the hit. The Nikkei has learned that Saikawa had signed various documents that "spelled out payments to Ghosn after his retirement as a consultant and for agreeing not to work for or join the board of any competitor." These documents are being used as evidence to show that Ghosn deferring payments of current salaries that were not reported. While prosecutors don't believe Saikawa knew about this, his position as CEO may be questioned "for missing the opportunity to catch the improprieties." Source: The Wall Street Journal (Subscription Required), Nikkei Asian Review (Subscription Required) View full article
  3. William Maley
    More information about "Rumorpile: Carlos Ghosn Wanted To Oust Hiroto Saikawa As Nissan CEO"
    "Since the arrest former Nissan chairman Carlos Ghosn last month, various reports have come out revealing the strained relationship between Nissan and its alliance partner, Renault. It has also brought up questions as to whether or not Nissan decided to 'push' Ghosn out by using the misuse of corporate assets as the reason. A new report from The Wall Street Journal is only stoking those fires. Sources tell the paper that Ghosn was planning to "shake up the senior management ranks at Nissan" and told some executives that he was planning on replacing current Nissan CEO Hiroto Saikawa - his hand-picked successor. While Ghosn supported Saikawa in public, the two would clash over various problems the company was facing. This included, Problems with inspections done on JDM vehicles, prompting recalls of more than a million vehicles Declining sales in the U.S. According to one source, Ghosn wanted to oust Saikawa and planned to put it to a vote at a board meeting in November. But that would not happen as Ghosn would be arrested in early on in the month. The board would oust Ghosn at a meeting later on in the month. Some believed that Saikawa wasn't in danger. A source familiar with the relationship between the two said "their differences hadn’t reached a point where Mr. Ghosn would have contemplated removing Mr. Saikawa." Still, Saikawa's reputation is taking quite the hit. The Nikkei has learned that Saikawa had signed various documents that "spelled out payments to Ghosn after his retirement as a consultant and for agreeing not to work for or join the board of any competitor." These documents are being used as evidence to show that Ghosn deferring payments of current salaries that were not reported. While prosecutors don't believe Saikawa knew about this, his position as CEO may be questioned "for missing the opportunity to catch the improprieties." Source: The Wall Street Journal (Subscription Required), Nikkei Asian Review (Subscription Required)
  4. William Maley
    Three weeks after he was arrested in a Tokyo airport, Carlos Ghosn will soon be officially charged. Bloomberg has learned from sources that Ghosn will appear in Japanese court as soon as Monday to be indicted on various financial charges. Japanese prosecutors have to either charge Ghosn or arrest him new charges if they don't want to release him. Sources also tell Bloomberg that prosecutors are planning to bring new charges against Ghosn. While not public, sources believe it may relate to Ghosn under-reporting his income for the past three fiscal years. The Tokyo prosecutors’ office declined to comment. Meanwhile, Nissan is facing its own set of issues from Ghosn's arrest. The Nikkei Asian Review is reporting that prosecutors will file charges against the company for making false statements on securities reports. This is due to Ghosn and Greg Kelly, a former member of Nissan's board of directors for under-reporting salaries in five annual reports that go through the fiscal year that ended in March 2015. In Japan, a company can be held accountable for employees misstating financial information and not stopping it - hence why Nissan is getting charged. A source told Automotive News that Nissan had been "preparing for the possibility of charges" since allegations against the two men came out last month. It appears that the relationship between Nissan and Renault is taking hit. Unlike Nissan and Mitsubishi which have outed Ghosn as chairman, Renault is keeping him as chairman and CEO for the time being. The French automaker has named an interim CEO and the duties of chairman are being performed by a director. Why hasn't Renault followed Nissan and Mitsubishi? According to a Renault spokesman, Nissan hasn't provided evidence that the board has asked for in their internal probe. He declined to comment any further. Sources at the automaker give a clearer view. Executives at Renault are quite suspicious of Nissan’s motives with Ghosn. The French automaker has asked for proof from Nissan concerning the allegations against Ghosn. Nissan offered a presentation that summarized the evidence, but Renault passed, asking for the "presence of lawyers and the full report on the allegations." Renault has good reason to be suspicious of Nissan considering the odd arrangement of their alliance. Renault is the largest shareholder in Nissan and has voting rights. But Nissan doesn't have any voting rights at Renault due in part to the French government being the lead shareholder. Nissan has been trying to balance this relationship, "but its demands have been stonewalled by Renault and the French state." It should also be noted that Ghosn had been pushing for a possible merger between the two - something Renault wanted but Nissan didn't. Source: Automotive News (Subscription Required) Bloomberg, Nikkei Asian Review View full article
  5. William Maley
    More information about "Carlos Ghosn to Be Indicted By Japanese Prosectors As Early As Monday"
    Three weeks after he was arrested in a Tokyo airport, Carlos Ghosn will soon be officially charged. Bloomberg has learned from sources that Ghosn will appear in Japanese court as soon as Monday to be indicted on various financial charges. Japanese prosecutors have to either charge Ghosn or arrest him new charges if they don't want to release him. Sources also tell Bloomberg that prosecutors are planning to bring new charges against Ghosn. While not public, sources believe it may relate to Ghosn under-reporting his income for the past three fiscal years. The Tokyo prosecutors’ office declined to comment. Meanwhile, Nissan is facing its own set of issues from Ghosn's arrest. The Nikkei Asian Review is reporting that prosecutors will file charges against the company for making false statements on securities reports. This is due to Ghosn and Greg Kelly, a former member of Nissan's board of directors for under-reporting salaries in five annual reports that go through the fiscal year that ended in March 2015. In Japan, a company can be held accountable for employees misstating financial information and not stopping it - hence why Nissan is getting charged. A source told Automotive News that Nissan had been "preparing for the possibility of charges" since allegations against the two men came out last month. It appears that the relationship between Nissan and Renault is taking hit. Unlike Nissan and Mitsubishi which have outed Ghosn as chairman, Renault is keeping him as chairman and CEO for the time being. The French automaker has named an interim CEO and the duties of chairman are being performed by a director. Why hasn't Renault followed Nissan and Mitsubishi? According to a Renault spokesman, Nissan hasn't provided evidence that the board has asked for in their internal probe. He declined to comment any further. Sources at the automaker give a clearer view. Executives at Renault are quite suspicious of Nissan’s motives with Ghosn. The French automaker has asked for proof from Nissan concerning the allegations against Ghosn. Nissan offered a presentation that summarized the evidence, but Renault passed, asking for the "presence of lawyers and the full report on the allegations." Renault has good reason to be suspicious of Nissan considering the odd arrangement of their alliance. Renault is the largest shareholder in Nissan and has voting rights. But Nissan doesn't have any voting rights at Renault due in part to the French government being the lead shareholder. Nissan has been trying to balance this relationship, "but its demands have been stonewalled by Renault and the French state." It should also be noted that Ghosn had been pushing for a possible merger between the two - something Renault wanted but Nissan didn't. Source: Automotive News (Subscription Required) Bloomberg, Nikkei Asian Review
  6. William Maley
    Since 2012, Fiat Chrysler Automobiles' Mack Avenue Engine II plant in Detroit has been idled. But new reports from CNBC and The Detroit News say the factory will be retooled to build a new three-row Jeep Grand Cherokee for the 2021 model year. According to sources, the reopening of the plant would allow FCA to begin retooling the Jefferson North Assembly Plant - which sits across from the Mack Avenue complex. This would allow Jefferson North to start producing the next-generation two and three-row Grand Cherokee. Reopening Mack II could bring up to 400 jobs back to Detroit. “FCA is essentially out of capacity. They’re kind of running up against being against full capacity. This is a very different situation than what GM is dealing with,” said Jeff Schuster, an analyst with LMC Automotive to The Detroit News. Last month, FCA was using 92 percent of its plant capacity in North America, due to the increase in demand for trucks and utility vehicles. This is noticeably higher than General Motors (72 percent) and Ford (81 percent) according to data from LMC Automotive. FCA and the office of Detroit Mayor Mike Duggan declined to comment. An announcement about this retooling is expected to take place next week. Source: CNBC, The Detroit News View full article
  7. William Maley
    More information about "Rumorpile: FCA To Convert An Idled Engine Factory Into A Grand Cherokee Plant"
    Since 2012, Fiat Chrysler Automobiles' Mack Avenue Engine II plant in Detroit has been idled. But new reports from CNBC and The Detroit News say the factory will be retooled to build a new three-row Jeep Grand Cherokee for the 2021 model year. According to sources, the reopening of the plant would allow FCA to begin retooling the Jefferson North Assembly Plant - which sits across from the Mack Avenue complex. This would allow Jefferson North to start producing the next-generation two and three-row Grand Cherokee. Reopening Mack II could bring up to 400 jobs back to Detroit. “FCA is essentially out of capacity. They’re kind of running up against being against full capacity. This is a very different situation than what GM is dealing with,” said Jeff Schuster, an analyst with LMC Automotive to The Detroit News. Last month, FCA was using 92 percent of its plant capacity in North America, due to the increase in demand for trucks and utility vehicles. This is noticeably higher than General Motors (72 percent) and Ford (81 percent) according to data from LMC Automotive. FCA and the office of Detroit Mayor Mike Duggan declined to comment. An announcement about this retooling is expected to take place next week. Source: CNBC, The Detroit News
  8. William Maley
    General Motors' upcoming restructuring plan where more than 10,000 jobs will be cut and five factories losing products has caused many politicians to become very upset. Yesterday, CEO Mary Barra traveled to Capitol Hill to try an mitigate the social damage by this announcement. Those expecting Barra to backpedal or balk under pressure from various lawmakers on moving production of certain vehicles out of Mexico to plants in the U.S. would come away disappointed. “I want to make sure that the workforce knows that there are limitations and we do have an overcapacity across the country. I understand this is something that impacts the country and I understand that there is a lot of emotion and concern about it,” Barra told reporters in a press conference after meeting Senators Sherrod Brown (Democrat) and Rob Portman (Republican) of Ohio. The two senators have been critical about the plan and pushed Barra in their meeting to get a new product in Lordstown, whether that be one of the 20 new EVs GM is planning or move production of the Chevrolet Blazer from Mexico. “GM says it expects to build 20 new EVs in next five years. We want one or more of those vehicles to be built in Lordstown, Ohio. That’s where it belongs,” said Portman. Barra said during the meeting she'll "keep an open mind but she doesn't want to raise expectations." Speaking to Reuters, Barra said it would “very costly” to shift production from Mexico of the Chevrolet Blazer that will begin shortly. But she did mention "GM planned to add other products at U.S. plants next year." Whether that includes Lordstown or not remains to be seen as negotiations with the UAW kick off next year. President Donald Trump has been very critical of this plan, saying he could eliminate federal subsidies on electric cars - something that would hurt other automakers more than GM as it's close to 200,000 mark where the $7,500 subsidy begins to fade. When asked about this, Barra gave an indirect answer. “I understand this is something that impacts the country and I understand that there is a lot of emotion and concern about it,” said Barra. She continued by saying GM wanted to “do the right thing for our employees but also make sure General Motors is strong and lean in the future.” Source: Automotive News (Subscription Required), Detroit Free Press, Reuters GM Statement: Chairman and CEO Mary Barra on meetings with members of Congress from Ohio and Maryland “I had very constructive meetings with members of Congress from Ohio and Maryland. I share their concerns about the impact the actions we announced last week will have on our employees, their families and the communities. These were very difficult decisions -- decisions I take very personally. I informed the members that many hourly employees at the impacted U.S. plants will have the opportunity to work at other U.S. GM plants and that we are committed to working with them to minimize the impact on the communities. I also informed them that all salaried GM workers impacted by these actions are being offered outplacement services to help them transition to new jobs.” View full article
  9. William Maley
    More information about "Ms. Barra Goes to Washington"
    General Motors' upcoming restructuring plan where more than 10,000 jobs will be cut and five factories losing products has caused many politicians to become very upset. Yesterday, CEO Mary Barra traveled to Capitol Hill to try an mitigate the social damage by this announcement. Those expecting Barra to backpedal or balk under pressure from various lawmakers on moving production of certain vehicles out of Mexico to plants in the U.S. would come away disappointed. “I want to make sure that the workforce knows that there are limitations and we do have an overcapacity across the country. I understand this is something that impacts the country and I understand that there is a lot of emotion and concern about it,” Barra told reporters in a press conference after meeting Senators Sherrod Brown (Democrat) and Rob Portman (Republican) of Ohio. The two senators have been critical about the plan and pushed Barra in their meeting to get a new product in Lordstown, whether that be one of the 20 new EVs GM is planning or move production of the Chevrolet Blazer from Mexico. “GM says it expects to build 20 new EVs in next five years. We want one or more of those vehicles to be built in Lordstown, Ohio. That’s where it belongs,” said Portman. Barra said during the meeting she'll "keep an open mind but she doesn't want to raise expectations." Speaking to Reuters, Barra said it would “very costly” to shift production from Mexico of the Chevrolet Blazer that will begin shortly. But she did mention "GM planned to add other products at U.S. plants next year." Whether that includes Lordstown or not remains to be seen as negotiations with the UAW kick off next year. President Donald Trump has been very critical of this plan, saying he could eliminate federal subsidies on electric cars - something that would hurt other automakers more than GM as it's close to 200,000 mark where the $7,500 subsidy begins to fade. When asked about this, Barra gave an indirect answer. “I understand this is something that impacts the country and I understand that there is a lot of emotion and concern about it,” said Barra. She continued by saying GM wanted to “do the right thing for our employees but also make sure General Motors is strong and lean in the future.” Source: Automotive News (Subscription Required), Detroit Free Press, Reuters GM Statement: Chairman and CEO Mary Barra on meetings with members of Congress from Ohio and Maryland “I had very constructive meetings with members of Congress from Ohio and Maryland. I share their concerns about the impact the actions we announced last week will have on our employees, their families and the communities. These were very difficult decisions -- decisions I take very personally. I informed the members that many hourly employees at the impacted U.S. plants will have the opportunity to work at other U.S. GM plants and that we are committed to working with them to minimize the impact on the communities. I also informed them that all salaried GM workers impacted by these actions are being offered outplacement services to help them transition to new jobs.”
  10. William Maley
    That's hooked up to the V6 and like @Robert Hall said, they may have run into some packing issues.
  11. William Maley
    I think this might explain why Lincoln decided to use GT,
  12. William Maley
    We have been wondering for some time why the mild-hybrid eTorque powertrain was missing from the Gladiator's available powertrains. The eTorque powertrain pairs a turbocharged 2.0L four-cylinder with a 48-volt mild hybrid system. This not only improves overall fuel economy, but provides slightly more torque than the 3.6L V6 - 295 vs. 260 pound-feet. We assumed the reason came down to possible issues with towing. It seems our hunch was right. The Drive reached out to FCA to see why the Gladiator wasn't being offered with the eHybrid. This was the response from the spokesperson. "The 3.6-liter engine can handle the temperatures seen while towing." Reading between the lines, it seems Jeep doesn't expect eHybrid powertrain to handle the towing duties of a pickup truck. The Gladiator is rated to tow a max of 7,650 pounds, beating the Chevrolet Colorado Diesel by 50 pounds. Source: The Drive View full article
  13. William Maley
    More information about "Why No Turbo-Four in the Jeep Gladiator?!"
    We have been wondering for some time why the mild-hybrid eTorque powertrain was missing from the Gladiator's available powertrains. The eTorque powertrain pairs a turbocharged 2.0L four-cylinder with a 48-volt mild hybrid system. This not only improves overall fuel economy, but provides slightly more torque than the 3.6L V6 - 295 vs. 260 pound-feet. We assumed the reason came down to possible issues with towing. It seems our hunch was right. The Drive reached out to FCA to see why the Gladiator wasn't being offered with the eHybrid. This was the response from the spokesperson. "The 3.6-liter engine can handle the temperatures seen while towing." Reading between the lines, it seems Jeep doesn't expect eHybrid powertrain to handle the towing duties of a pickup truck. The Gladiator is rated to tow a max of 7,650 pounds, beating the Chevrolet Colorado Diesel by 50 pounds. Source: The Drive
  14. William Maley
    The upcoming Lincoln Aviator will be offering a very potent plug-in hybrid powertrain offering 450 horsepower and a whopping 600 pound-feet of torque. But what will Lincoln call this Aviator model? Most competitors use something like E-Hybrid, PHEV, or a 'e' to the end of the model. According to Automotive News, Lincoln will be using the Grand Touring (GT) to designate electrified variants. "Quite simply, it came down to, what does it do? And what it does is that it makes the vehicle more exciting to drive. It's the purest definition of Grand Touring," said Robert Parker, Lincoln's marketing chief. Lincoln went through various names, "including variations of the letter E," in internal discussions and focus groups before landing on Grand Touring. "Consumers may have liked the word but didn't know what it meant. If I have to go spend money to describe to customers what a new word means, I've taken money away from promoting Aviator," explained Parker. "You can talk yourself into these letters and conventions, but when you go out into the consumer space, they're very confused. EcoBoost wasn't new; direct-injection technology was around in the late '80s, but nobody seemed to find the magic until EcoBoost." We'll see if this works out for Lincoln when the Aviator begins hitting dealers next summer. Source: Automotive News (Subscription Required) View full article
  15. William Maley
    More information about "Lincoln Plans On Using GT on Upcoming Aviator PHEV"
    The upcoming Lincoln Aviator will be offering a very potent plug-in hybrid powertrain offering 450 horsepower and a whopping 600 pound-feet of torque. But what will Lincoln call this Aviator model? Most competitors use something like E-Hybrid, PHEV, or a 'e' to the end of the model. According to Automotive News, Lincoln will be using the Grand Touring (GT) to designate electrified variants. "Quite simply, it came down to, what does it do? And what it does is that it makes the vehicle more exciting to drive. It's the purest definition of Grand Touring," said Robert Parker, Lincoln's marketing chief. Lincoln went through various names, "including variations of the letter E," in internal discussions and focus groups before landing on Grand Touring. "Consumers may have liked the word but didn't know what it meant. If I have to go spend money to describe to customers what a new word means, I've taken money away from promoting Aviator," explained Parker. "You can talk yourself into these letters and conventions, but when you go out into the consumer space, they're very confused. EcoBoost wasn't new; direct-injection technology was around in the late '80s, but nobody seemed to find the magic until EcoBoost." We'll see if this works out for Lincoln when the Aviator begins hitting dealers next summer. Source: Automotive News (Subscription Required)
  16. William Maley
    More information about "Will Ford Cut 25,000 Jobs? The Answer Is Murky"
    The holidays are proving to be a tough time for those who work in the automotive industry. Last week, General Motors announced that it would be cutting more than 10,000 jobs and removing products from five plants beginning next year. This could pale into comparison with what could happen with Ford. Earlier this week, Morgan Stanley analyst Adam Jonas sent out a note to investors saying that Ford's $11 billion restructuring effort could see 25,000 jobs being cut. “We estimate a large portion of Ford’s restructuring actions will be focused on Ford Europe, a business we currently value at negative $7 billion. But we also expect a significant restructuring effort in North America, involving significant numbers of both salaried and hourly UAW and CAW workers,” Jonas wrote. Ford's 70,000 salaried employees have been told that job cuts are coming, but an official figure hasn't been revealed. “These actions will come largely outside of North America. All of this work is ongoing and publishing a job-reduction figure at this point would be pure speculation,” said Ford spokeswoman Karen Hampton to Bloomberg. But Ford CEO Jim Hackett has made things slightly worse. Yesterday, Hackett told reporters "Ford didn’t provide numbers to Morgan Stanley analyst Adam Jonas." Basically a non-denial denial. The company is planning an interim announcement about its workforce later this week. Source: Bloomberg, 2
  17. William Maley
    The holidays are proving to be a tough time for those who work in the automotive industry. Last week, General Motors announced that it would be cutting more than 10,000 jobs and removing products from five plants beginning next year. This could pale into comparison with what could happen with Ford. Earlier this week, Morgan Stanley analyst Adam Jonas sent out a note to investors saying that Ford's $11 billion restructuring effort could see 25,000 jobs being cut. “We estimate a large portion of Ford’s restructuring actions will be focused on Ford Europe, a business we currently value at negative $7 billion. But we also expect a significant restructuring effort in North America, involving significant numbers of both salaried and hourly UAW and CAW workers,” Jonas wrote. Ford's 70,000 salaried employees have been told that job cuts are coming, but an official figure hasn't been revealed. “These actions will come largely outside of North America. All of this work is ongoing and publishing a job-reduction figure at this point would be pure speculation,” said Ford spokeswoman Karen Hampton to Bloomberg. But Ford CEO Jim Hackett has made things slightly worse. Yesterday, Hackett told reporters "Ford didn’t provide numbers to Morgan Stanley analyst Adam Jonas." Basically a non-denial denial. The company is planning an interim announcement about its workforce later this week. Source: Bloomberg, 2 View full article
  18. William Maley
    I forget which Volkswagen engine it is, but it is based on an architecture from the early 1970s
  19. William Maley
    Volkswagen has announced their next-generation of gas and diesel engines, launching in 2026 will be its last. “Our colleagues are working on the last platform for vehicles that aren’t CO2 neutral. We’re gradually fading out combustion engines to the absolute minimum,” said Michael Jost, strategy chief for Volkswagen. The German automaker has set aside $50 billion over the next five years to begin transforming itself into an electric car builder. The first rollout is beginning very soon with the Audi e-tron SUV and Porsche Taycan. By 2030, Volkswagen is planning to have more than 300 electric versions of cars, vans, trucks, and motorbikes. But the fading out of gas and diesel engines isn't going to be a quick thing. Jost said that Volkswagen would continue to "modify its combustion engine technology," in the coming years after the new platform for "vehicles that aren’t CO2 neutral". After 2050, Volkswagen may still be offering some gas and diesel models in places "where there is insufficient charging infrastructure." Source: Bloomberg View full article
  20. William Maley
    More information about "Volkswagen's Next-Generation of Internal Combustion Engines Will Be Its Last"
    Volkswagen has announced their next-generation of gas and diesel engines, launching in 2026 will be its last. “Our colleagues are working on the last platform for vehicles that aren’t CO2 neutral. We’re gradually fading out combustion engines to the absolute minimum,” said Michael Jost, strategy chief for Volkswagen. The German automaker has set aside $50 billion over the next five years to begin transforming itself into an electric car builder. The first rollout is beginning very soon with the Audi e-tron SUV and Porsche Taycan. By 2030, Volkswagen is planning to have more than 300 electric versions of cars, vans, trucks, and motorbikes. But the fading out of gas and diesel engines isn't going to be a quick thing. Jost said that Volkswagen would continue to "modify its combustion engine technology," in the coming years after the new platform for "vehicles that aren’t CO2 neutral". After 2050, Volkswagen may still be offering some gas and diesel models in places "where there is insufficient charging infrastructure." Source: Bloomberg
  21. William Maley
    Nissan's showing at last week's LA Auto Show was a bit underwhelming with mid-cycle refreshes of the Maxima and Murano. But Nissan had bigger plans for LA. According to the Wall Street Journal, the Japanese automaker was planning to show a longer-range version of the Leaf EV. The model would increase range from 151 miles to 225 miles via a larger battery pack. The Journal reports that Nissan had rented space in the Japanese American National Museum for the media unveiling and hired Hollywood actress Margot Robbie to introduce the model. But the reveal was postponed. “The official announcement regarding details of the 2019 Nissan Leaf with additional performance capabilities is postponed to a later date,” Nissan said in a statement. A spokesman went on to say that the reveal was delayed “to ensure that this important product unveiling could receive the coverage it merits.” Emphasis mine. Currently, the coverage at Nissan deals with the arrest of former Chairman and CEO Carlos Ghosn over alleged misuse of company funds and understating his income. This would have overshadowed the introduction of the updated Leaf. It is unclear when Nissan is planning to show off the revised Leaf, but it may take awhile. This week alone saw new allegations come against Ghosn for having a salary above a cap set by shareholders and that he passed on personal losses totaling more than a billion yen ($8.8 million) from derivative trading on to the company. Over at Nissan, the company has pushed back a decision on nominating a successor to Ghosn as chairman. It is expected that a recommendation made by a three-member panel of external Nissan directors will present their choice to the board later this month. Source: Wall Street Journal (Subscription Required) View full article
  22. William Maley
    More information about "Arrest of Carlos Ghosn Caused Nissan To Cancel Debut of Long-Range Leaf"
    Nissan's showing at last week's LA Auto Show was a bit underwhelming with mid-cycle refreshes of the Maxima and Murano. But Nissan had bigger plans for LA. According to the Wall Street Journal, the Japanese automaker was planning to show a longer-range version of the Leaf EV. The model would increase range from 151 miles to 225 miles via a larger battery pack. The Journal reports that Nissan had rented space in the Japanese American National Museum for the media unveiling and hired Hollywood actress Margot Robbie to introduce the model. But the reveal was postponed. “The official announcement regarding details of the 2019 Nissan Leaf with additional performance capabilities is postponed to a later date,” Nissan said in a statement. A spokesman went on to say that the reveal was delayed “to ensure that this important product unveiling could receive the coverage it merits.” Emphasis mine. Currently, the coverage at Nissan deals with the arrest of former Chairman and CEO Carlos Ghosn over alleged misuse of company funds and understating his income. This would have overshadowed the introduction of the updated Leaf. It is unclear when Nissan is planning to show off the revised Leaf, but it may take awhile. This week alone saw new allegations come against Ghosn for having a salary above a cap set by shareholders and that he passed on personal losses totaling more than a billion yen ($8.8 million) from derivative trading on to the company. Over at Nissan, the company has pushed back a decision on nominating a successor to Ghosn as chairman. It is expected that a recommendation made by a three-member panel of external Nissan directors will present their choice to the board later this month. Source: Wall Street Journal (Subscription Required)
  23. William Maley
    Back in June, Ford and Volkswagen signed a Memorandum of Understanding for a new alliance that would focus on commercial vehicles. Since then, the two companies have been in discussions about it and there have been various rumors flying about. Yesterday, Volkswagen CEO Herbert Diess added some more fuel to the fire. Speaking to reporters outside of the White House, Diess revealed that the German automaker is interested in using Ford's plants in the U.S. to build vehicles. "We might use Ford capacity here in the U.S. to build cars for us," said Diess. “We need additional capacity here in the United States, we need an additional car plant for VW and Audi combined.” The company is in "quite advanced negotiations in Tennessee" about a new plant in the state - Volkswagen operates one in Chattanooga for the Passat and Atlas. But Diess did say "there might be other options as well," most likely talking about using some of Ford's plants in the U.S. For now, this is an idea being floating out there. The two are continuing their talks about what this alliance will look like. Diess said more details would come out in January. Source: Automotive News (Subscription Required) View full article
  24. William Maley
    More information about "Volkswagen Could Use Ford's Plants in the U.S. To Build Vehicles"
    Back in June, Ford and Volkswagen signed a Memorandum of Understanding for a new alliance that would focus on commercial vehicles. Since then, the two companies have been in discussions about it and there have been various rumors flying about. Yesterday, Volkswagen CEO Herbert Diess added some more fuel to the fire. Speaking to reporters outside of the White House, Diess revealed that the German automaker is interested in using Ford's plants in the U.S. to build vehicles. "We might use Ford capacity here in the U.S. to build cars for us," said Diess. “We need additional capacity here in the United States, we need an additional car plant for VW and Audi combined.” The company is in "quite advanced negotiations in Tennessee" about a new plant in the state - Volkswagen operates one in Chattanooga for the Passat and Atlas. But Diess did say "there might be other options as well," most likely talking about using some of Ford's plants in the U.S. For now, this is an idea being floating out there. The two are continuing their talks about what this alliance will look like. Diess said more details would come out in January. Source: Automotive News (Subscription Required)
  25. William Maley
    It is already tough for a number of people to afford a new vehicle as the average transaction price keeps rising. According to Kelly Blue Book, the average transaction price for November rose 2.1 percent to $36,978. This isn't being helped by American automakers deciding to stop producing cars due to changing consumer tastes. This was brought to light last week when General Motors announced that it would be cutting a number of cars including the Chevrolet Cruze. Most automakers and dealers believe consumers will move towards utility vehicles, but some dealers believe that consumers may defect from American automakers because they don't offer the vehicle they are looking for. Chad Martin, a Bowling Green, Ky., dealer tells Automotive News that consumers feel the "affordability pinch" when automakers decide to drop cars to focus more on utility vehicles. For the most part, consumers "generally seem to be shopping for a particular type of vehicle, such as compact cars." Remove them out of your lineup and consumers are likely going to look elsewhere. "What this is going to mean is, you're going to see a somewhat higher defection rate because you don't have the product lineup that particular consumer wants," said Martin. Another big hurdle facing consumers who want to stick with the domestics is pricing. Martin explained that there is more than a $5,000 difference in pricing between compact crossovers and compact sedans. Obviously, the consumer is going to have to absorb that $5,000 difference," said Martin. The numbers from Kelly Blue Book tell the story. Compact Car Average Transaction Price: $20,458 Subcompact Crossover/SUV Average Transaction Price: $24,210 Compact Crossover/SUV Average Transaction Price: $28,765 Jeremy Acevedo, Edmunds' manager of industry analysis agrees with the sentiment said by some dealers that consumers loyal to a segment may look elsewhere. "It's easy for shoppers to move from a Cavalier to a Cobalt to a Cruze. But it's a whole different ballgame moving from a car to an SUV." Source: Automotive News (Subscription Required) View full article
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