It’ll surprise exactly zero percent of our readers that automakers have gone all-in on electric SUVs and crossovers. That news continues apace, with Kia showing a ghostly image of its upcoming EV9. Set to fully appear as a concept car within the next month, there’s a strong possibility it’ll share much with its corporate cousin Hyundai Ioniq 7.
Most of the time I am a genial fellow. Laidback. Not particularly quick to anger. Polite towards my fellow man.
Except, on occasion, when behind the wheel.
Ford introduced the high-performance version of the Taurus sedan— the SHO— in the 1989 model year, and enthusiasts rejoiced over the cheap new factory hot rod that blew away far more expensive European sedans. I’ve documented quite a few discarded SHOs during my junkyard travels, but this is the first ’92 I’ve photographed. Why is 1992 special for the SHO? Simple: It’s the final year for the mandatory five-speed manual transmission. Here’s one of those rare cars in a San Francisco Bay Area self-service yard. (Read More…)
Start-up EV automaker Rivian has been accused by a former employee of having a “boys club” atmosphere while she worked there.
Laura Schwab, who was in charge of sales and marketing, claims the company has a “toxic bro culture” that led to mistakes being made, and when she pointed it out, she was fired.
On Thursday, Uber Technologies reported its first profitable quarter since the company launched in San Francisco way back in 2009. This represents a huge achievement for the company, which has been investing heavily to expand the business in the hopes that it will eventually become the world’s favored ride-hailing, courier, and food-delivery service.
But here’s the rub. Uber is technically only profitable on an adjusted basis that takes a pretty narrow view of its finances. Despite this, it’s still a step in the right direction and may foreshadow the reliable earnings the company has been seeking for ages. (Read More…)
Well, they’ve announced pricing for the non-hybrid models, anyway. Apparently putting a value on positive and negative electrons takes a bit more time. Nevertheless, we now know precisely the amount that will be hoovered from your bank account to get into a new-for-’22 Tundra.
As you’d expect, it’s a jump from the old truck.
Volkswagen CEO Herbert Diess has been facing off with the company’s German workforce for weeks over the changing nature of the business. VW vowed to transition itself toward an all-electric lineup following the 2015 diesel emissions scandal. But the necessary steps to get there haven’t been universally appreciated.
The general assumption has always been that electric vehicles would result in massive layoffs across the industry by nature of their needing fewer parts than internal combustion vehicles. But Volkswagen seems worried that it’s falling behind smaller rivals and needs to take decisive action to make sure it’s not outdone by firms operating in the United States and China. The proposed solution is an industrial overhaul designed to fast-track VW’s electrification goals. Unfortunately, German labor unions are convinced that this plan would incorporate massive layoffs and have become disinclined to offer their support. The issue worsened in September when Diess told the supervisory board that a slower-than-desired transition to EVs could result in 30,000 fewer jobs. (Read More…)
The 2022 Volkswagen Golf R remains a potent backroad weapon – almost too potent. I came to this conclusion while driving part of North Carolina’s famed Rattler highway. The Golf R, one of the hottest of hot hatches, was making me feel a bit like a superhero thanks to stout brakes, the ability to […]
After its successful introduction in the Twenties, an Airflow-shaped misstep in the Thirties, and a return to its earlier formula in the latter part of that decade, big changes were in order for the new Imperial of the 1940s.
Michigan’s Orion Assembly will be taking three weeks of downtime this month as General Motors continues addressing the fire recall pertaining to Chevrolet’s all-electric Bolt.
The automaker notified employees that the facility will see production idled from November 15th through December 3rd, though vehicle assembly won’t resume until the 6th. However the plant is already running on a diminished schedule so staff can assist with maximizing LG battery output and offer additional support related to the recall. (Read More…)
General Motors seems bent on preparing some of its existing facilities as supporting players for future programs. The company has announced a $46 million investment in the metal stamping operation in Parma, Ohio, a town located about 20 minutes south of Cleveland that has nothing to do with the tasty cheese one puts on their pasta.
While hammering away at his keyboard in preparation for publishing this post, it dawned upon your author that The Right Spec for any new vehicle these days is – thanks to the chip shortage and a myriad of other supply problems – whatever resides on the lot. Or at least doesn’t have an exorbitant markup placed on its sticker.
Why are we profiling a family sedan this week? Because there are still swaths of Americans, believe it or not, who’d rather have this type of machine in their driveway than yet another SUV to add to the line of vehicles in the school pick-up line. And as for why the K5, in particular, was selected – well, let’s just say we hope to start an argument in the comments.
Hyundai Motor Company has revealed teaser images of the Ioniq SEVEN, an all-electric SUV concept scheduled to debut at AutoMobility Los Angeles later this month. The model is supposed to preview the automaker’s future design and technology innovation as it transitions toward electric vehicles, potentially previewing the upcoming sport utility vehicle to be added to the brand’s Ioniq lineup. Though it doesn’t resemble the Ioniq 5 all that much and we were under the impression that was the model foreshadowing the brand’s upcoming EVs.
No matter. Hyundai has a lot of uniquely designed models that share just enough to make it apparent that they’re still part of the larger family and most of what we’re seeing of the SEVEN concept is of its comfy, cozy interior. These teasers really make you want to curl up inside the SEVEN with a Tolstoy novel and a blanket to see how long you can get by uninterrupted. (Read More…)
Ford Motor Co. has announced a cash tender offer to repurchase up to $5 billion of the company’s high-yield debt in the hopes of rebalancing its budget after needing to borrow so much during the back-to-back-to-back production shutdowns incurred since the start of 2020. The automaker is retiring as much of the $8 billion in bonds the company issued at the start the coronavirus pandemic as it can and will be doing the same for some older bonds issued at similarly high rates (over 8 percent annually).
However this will be used to make room for environmental, social and corporate governance (ESG) initiatives and establish a “sustainable financing framework” the automaker said would be a first for North America. Ford clearly believes social governance investments will become increasingly routine and is attempting to showcase itself as one of the kinder, more forward thinking, and environmentally responsible multinational industrial concerns. Sort of like a fully armed M1 Abrams tank painted with peace symbols and hippie daises. (Read More…)
A captive lending arm can be a major source of profit for automakers. After all, keeping that paper in-house instead of farming it out to a third party permits some of that sweet interest-driven revenue rolling on a monthly recurring basis. Why else did most of us, for many years during GMAC’s heyday, refer to General Motors as a finance company which just happened to sell cars?
Following several years of shacking up with Santander in order to offer financing for their customers, Stellantis has bought F1 Holdings Corp., an outfit that is the parent of Texas-based First Investors Financial Services Group. Now they’ve spent $285 million in this all-cash transaction, Stellantis is no longer the only major automaker in America without a captive finance arm.
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