Fresh-faced automotive brand Lynk & CO began selling its first vehicle in China about two months ago. But it has bigger aspirations than procuring a place in Asia’s largest market — it wants to achieve global domination through westerly expansion and is now preparing to take its first steps.

While the goal seems unrealistic for a fledgeling automaker producing only one model, the brand has friends in high places. Volvo Cars, which is also owned by Geely Automotive, may be tapped to assist Lynk in Europe by offering its factory in Belgium and opening up its servicing infrastructure. If so, that would set a precedent for a Volvo-based support network that could eventually extend to North America.  (Read More…)

Despite posting a 7 percent increase in revenue and a net income of $2.4 billion (up from a $800 million loss a year ago), Ford’s fourth-quarter 2017 earnings missed analyst expectations. Blame a few key factors.

First, Ford faced an increase in commodity prices, ratcheting up the cost of steel and aluminum. Add to that increased warranty costs, unpleasant foreign exchange rates, and sinking sales in China, and the company’s pretax profit fell 19 percent from a year ago, hitting $1.7 billion.

As the company seeks to convince investors to put its trust in the automaker’s vision, Ford delivered earnings of 39 cents per share, not the 42 cents analysts projected. (Read More…)

Bipartisan legislation to “promote the safe development of autonomous vehicles” is currently being held up by a trio of Democrats, according to U.S. Senate Commerce Committee Chairman John Thune. While much of Congress is hoping to push the AV START Act through, Sen. Dianne Feinstein and two colleagues have blocked unanimous consent — stalling the bill’s swift progress by forcing a floor vote.

Thune, who sponsors Senate Bill 1,885, told reporters he hoped Feinstein and the other Democrats would see the light. “We could save a lot of lives,” Thune said, adding that 94 percent of car crashes are caused by human error. “It is cutting-edge technology, transformational in terms of the economy.”

However, the opposition isn’t convinced autonomous vehicles are at a point where it’s safe to roll them out en masse on public roads. (Read More…)

Sticking with its bullish profit predictions for 2018, FCA announced today its fourth quarter earnings for 2017 in which net profits nearly doubled to almost a billion dollars.

With a new Ram 1500 waiting in the wings, the old Ram set to print money while selling alongside the new one, and a healthy Jeep brand serving a public thirsty for crossovers, FCA’s cupboard seems particularly full right about now … so long as the company keeps its focus.

(Read More…)

“We’re dirty, yeah, but so are the dealers. We’re all dirty in this business.”

The petite, honest-faced young lady sitting across from me at my lunch table doesn’t look like a predator. To be fair, she isn’t. She just works for a company that’s one of the biggest subprime lenders in the country, with offices in several states. By the time a dealer calls them for a loan, they’ve already tried every traditional bank and credit union in their Rolodex.

And in exchange for a delicious burrito, she agreed to meet with me and pull back the kimono on the subprime auto lending business in the United States, a business which many in the financial sector believe to be the next big bubble.

I have a lot of questions, and she’s more than willing to answer them. I ask what sorts of credit scores they’ll approve.

“We can pretty much approve any credit score. I just approved a 413 beacon score the other day. Of course, it was a 25 percent loan. Credit is really just one piece of the puzzle,” Elizabeth* (not her real name) explains to me. “Sure, we pull TransUnion and Equifax, but we’re also looking at their obligations versus their verifiable income. Medical bills don’t count. It’s just rent plus whatever else is on their credit report.”

“Sure,” I say. “That makes sense.”

“Of course,” she continues between small bites of burrito, “if they’ve just stopped paying a bill, something other than another car loan, we don’t count that bill as part of their monthly obligations. Nobody pays student loans. They’ll have like five or six loans and won’t have paid a damn dime in months. So we don’t worry about those.”

Hang on. It gets weirder. And better.

(Read More…)

I was 15 or so, basking in the heady scents of Armor-All, Windex, cheap suits, and desperation. Mom was waiting for the salesman to “check with the manager” as she negotiated for her second of six Corollas. I wandered off, as I typically did when presented with rows of shiny new cars. You’d think I’d […]

Profitable as home water delivery in the desert, Toyota’s RAV4 compact crossover performs an increasingly important function in the division’s lineup. As passenger car sales fall, vehicles like the RAV4 compete in the most lucrative and hotly contested segment in the auto industry. Some 407,594 Americans took home a RAV4 last year. Five years earlier, that sales figure stood at 171,877.

Given the model’s impact on the company’s fortunes, messing with a good thing could be risky, just as standing still could lead to a drop-off in consumer interest. For the next-generation RAV4, due as a 2019 model, Toyota’s not playing it safe. The model pictured here goes in a styling direction we’ve seen before, though not on a production model. (Read More…)

Hyundai has dropped a few details about its next Santa Fe, including a dimly lit teaser photo. In a confusing bit of theatre, the company says the trucklet will make a world premiere at an unnamed location next month before debuting at the Geneva Motor Show in early March.

Hyundai refreshed its two largest crossovers just two model years ago. With consumer tastes running hot in that segment, the Korean automaker knows it needs to keep up with the Joneses (and the Toyotas and Nissans).

(Read More…)

Yesterday we delivered news of a plan to transform the range-topping Jaguar XJ sedan into an electric five-door model — which, in Jaguar Land Rover’s mind, is a way of preserving the model and its historic lineage in an era of falling passenger car sales.

The jury’s out on whether a hypothetical group of EV buyers with bulging coin purses will actually materialize once Jaguar (pronounced “jah-gyou-ahhh“) and other brands bring their latest electrical creations to market, but the writing’s on the wall for traditional sedans. Maybe going EV will earn these vehicles a stay of execution. Who knows?

As for the Jaguar brand itself, the company’s sales have never been stronger in the U.S., with new models of the utility bent positioned to take on premium rivals from Germany and Japan. Could you see one of these burly Brits taking up space in your driveway? Or has Jaguar left too much of its charm in the past? (Read More…)

We introduced the new Buy/Drive/Burn series back in December via a QOTD post (read that first for the rules). Shortly afterwards, the inaugural post in the series tackled the destruction of one of a trio of new luxury coupes. Those powerful and modern coupes are at the higher end of the market, which is just about the only place one finds luxury coupes today.

It wasn’t always that way — there used to be personal luxury for the masses. Coupes in the finest brougham tradition, exuding class, elegance, and sophistication. One of the best years for the personal luxury coupe (PLC) was 1980, right at the height of malaise and the downsizing trend. All are superb vehicles, surely. Which one burns, and which goes in your driveway, and which do you simply borrow from a friend?

And no, the Bonneville isn’t in the running. Too easy.

(Read More…)

We told you recently of the tsunami of complaints from Ford Focus RS owners swamping the National Highway Traffic Safety Administration — and other agencies — with minor gripes like, say, their brand new car burning engine coolant. Well, there’s a fix afoot.

In a recently released service bulletin, Ford describes the issue plaguing its hottest hatch and vows to replace every cylinder head installed in a Focus RS built between August 3, 2015 to July 6, 2017. That is to say all of them. (Read More…)

Most of us have been caught speeding at one time or another. As enthusiasts, it’s often difficult not to try and squeeze out every last ounce of joy from a fun-to-drive automobile when the path ahead is open. While we may think of corporate executives as soulless monsters, singularly focused on satisfying shareholders and lining their pockets, some of them are also people who enjoy driving cars.

Lotus CEO Jean-Marc Gales is definitely such a man, and his love of driving ended up getting him into trouble when he was nailed for traveling 102 mph in a 70 mph zone on England’s A11 expressway. While the offense occurred roughly a year ago, his court date was yesterday. With eight points already on his license (most of which also came from speeding violations), things looked bleak for Gales, at least until his lawyer managed the most brilliant defense in traffic court history — claiming that it was vital the CEO not lose the ability to test drive new models.

It worked.  (Read More…)

The Jaguar XJ, a slinky lineage of high-end saloons known for shuttling around British PMs, fictional heads of MI6, and The Equalizer, might not be around for much longer. At least not in the manner we’re used to seeing it.

British publication Autocar claims the automaker plans to spring a wholly new, “reinvented” flagship model on us before too long, and it won’t have an inline-six, V8, or V12 under the hood. It won’t use any gas at all. Nor will it remain a sedan.

Looking around at today’s vehicular landscape, it may be the only way to save the XJ. (Read More…)

The car industry was one of the first to employ widespread automation as a way to streamline manufacturing. However, plenty of jobs have been handed over to robots since the 1980s. Cashiers, tollbooth operators, librarians, and practically everyone who has worked in shipping has seen some aspect of their job replaced with automation. But automakers now claim the usefulness of robots has reached its peak — at last for the time being.

In the midst of an autonomous revolution where drivers will be eventually be replaced by computer-controlled vehicles, numerous carmakers suggest robots still can’t substitute humans on the assembly line.  (Read More…)

Truly, this is a momentous year for trucks. Not one, not two, but three completely revamped or wholly new domestic pickups greeted us in Detroit last week, ready to capitalize on America’s unyielding hunger for vehicles that can haul, tow, ford, climb, traverse, and commute daily with a single occupant.

While we haven’t yet had an opportunity to put the 2019 Ram 1500, Chevrolet Silverado 1500, or Ford Ranger through their paces, we’d hope to find an increase in refinement and capability in returning models. Over at the Insurance Institute for Highway Safety, however, there’s a different testing regimen planned. Let’s just say it’s a hard-hitting one.

And if Ram or Chevy wants to get into the IIHS’ good books, those trucks had best perform better than their so-so predecessors. (Read More…)