Fiat Chrysler Automobiles won’t attempt to takeover General Motors anytime soon, FCA chief Sergio Marchionne told investors Thursday according to Reuters.

Speaking following a shareholder meeting, Marchionne said that finding a partner for FCA wasn’t “life or death” for the automaker group. Reportedly, FCA will delay launching several of their cars — including the Alfa Romeo Giulia for six months — as the automaker shores up its $52 billion investment plan.

“We are not choking. We are in relatively decent shape,” Marchionne said.

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Analysts are estimating that more than 400 lawsuits (for now) pending against Volkswagen for fraudulent “clean diesel” claims could cost the automaker billions in court — if they even go that far.

Bloomberg reported (via Automotive News) that as lawyers for owners and Volkswagen wrangle over where to eventually hold a consolidated trial against the automaker, many analysts believe Volkswagen — who has already admitted to committing fraud — may end up paying at least $1.5 billion to customers, before damages or a potential buy back. That figure could rise to $8.9 billion if Volkswagen has to buy back their cars, according to Bloomberg Intelligence analyst Brandon Barnes.

(Presumably, those billions would be spent outside of a single wrench being turned on one of its illegally polluting cars.)

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Faraday Future, the other, other bespoke electric luxury carmaking startup said they’ll show off their concept for the “future of mobility” next month at the Consumer Electronics Show in Las Vegas.

The automaker’s website sports a clock counting down to 7 p.m. (Pacific) Jan. 4, 2016, for the automaker’s unveiling. The company has made several high-profile hires, including head of engineering Nick Sampson who helped Tesla design chassis for their cars, according to The Verge.

In an interview with the website, Sampson said the company expects to roughly double from 400 employees now and challenge other automakers soon. The company announced last month that its looking to invest $1 billion in a factory in California, Georgia, Louisiana or Nevada.

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In news that will shock precisely no one, the current car blitz is partially fueled by longer loan rates, higher monthly payments and an increasing prevalence to finance our new cars from the automaker themselves — when we’re not renting it from them in the first place.

Experian released Wednesday its data on third-quarter sales and financing and found, on average, that borrowers’ credit scores were at the lowest level since before 2008. According to the credit agency, car buyers had an average credit score of 710 when they financed their car — which happens in 86.6 percent of car transactions, an all-time high.

Buyers opted for longer loans too. According to the data, new car loans longer than six years increased to 27.5 percent for the third quarter, up 17.1 percent from the same period last year. Loans between five and six years accounted for 44 percent of new vehicle financing. (Read More…)

Auto executives from nearly every major U.S. automaker met in Washington D.C. on Tuesday to discuss safety, recalls and technology with Secretary of Transportation Anthony Foxx, Automotive News reported.

Senior executives from 15 automakers, including General Motors’ CEO Mary Barra, Fiat Chrysler Automobiles CEO Sergio Marchionne, Volkswagen of America CEO Michael Horn and Nissan North America boss Jose Munoz, met to address Foxx’s concerns that “the public has lost faith in the auto industry’s commitment to safety,” according to a letter obtained by Automotive News.

The recent snowballing recall crises at GM, FCA and other automakers concerning Takata’s airbag inflators prompted the meeting, according to reports. A spokesman for the Transportation Department said the meeting was “very productive.”

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Probably not. 

According to a study by the National League of Cities, only 6 percent of future city plans consider the potential impact autonomous vehicles will have in the next few years, including driverless car lanes and scaling back parking as ride-share services become more popular.

The study collected transportation plans of the 50 biggest U.S. cities, as well as the most-populous cities in every state. In all, 69 city plans were amassed and studied for future traffic and road plans.

Despite automakers rushing to put autonomous cars on the road by 2020, the study suggests that many cities won’t be able to adequately accommodate those cars, nor will they adapt fast enough to changing transportation modes that may challenge conventional public transportation and infrastructure wisdom.

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Volkswagen will have to recall hundreds of thousands of cars in India for cheating emissions standards, adding to Volkswagen’s worldwide woes that the automaker illegally sold with “defeat devices” designed to cheat emissions tests, Reuters reported.

More than 323,000 Audi-, Volkswagen- and Skoda-branded cars with the automaker’s EA 189 diesel engine will need to be fixed after authorities discovered in November that those cars were illegally polluting. The revelations follow similar charges made by U.S. authorities two months ago that Volkswagen and Audi cars were polluting up to 25 times more nitrogen oxide than allowed by law.

Volkswagen officials in India said cars would be recalled immediately.

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Forget waiting until 12:30 p.m. Eastern for the official reveal, here’s the new Volvo S90 right here in all its glory.

In addition to everything we’ve already known: Thor’s Hammer headlights, large 9-inch touchscreen, Pilot Assist semiautonomous driving and twin-charged four cylinder engine (with plug-in hybrid coming later), the S90 will get large animal detection as part of its City Safe features.

The moose of Gothenburg fear no more.

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Uber and Enterprise Rent-A-Car announced Tuesday a pilot program in Denver to rent cars to mobile entrepreneurs for ride-sharing services, according to the Denver Post.

The program, which will cost $210 a week on top of a $500 deposit, will make available cars to roam the city streets for people who don’t sleep for a week at a time. The $210 cost for the rental will be automatically deducted from the driver’s earnings, and if the driver doesn’t make enough to cover the cost of the car they’re still totally on the hook.

“What we’re trying to do here is lower the barrier to entry for someone who does want to work with Uber but who does not have a qualifying car or doesn’t have a car at all,” Andrew Chapin, Uber’s Head of Vehicle Solutions, told the Denver Post.

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Deciding that the company’s annual pre-Christmas party wasn’t a great time to be Wetblanket Wildes, the Porsche-Piech clan affirmed that it would be committed to Volkswagen amid its emissions crises (pl.) and said the company that the family-owned company would “master the situation,” according to Reuters.

The Porsche-Piech family, who owns a majority stake in Volkswagen’s parent company, told the automaker’s board and the town of Wolfsburg that the family has no intention of pulling the plug.

“I am firmly convinced that the city of Wolfsburg together with Volkswagen will master the situation and gain further strength,” Wolfgang Porsche said in a statement, according to Reuters. “The Porsche and Piech families stand behind Volkswagen and Wolfsburg as its headquarters.”

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Toyota and PSA announced Tuesday that they would continue to build a van for European markets for light commercial and passenger duty and unveiled their newest Toyota Proace/Peugeot Traveller/Citroen SpaceTourer eggs.

The three vans, which look virtually identical short of their shades and faces, are all produced at PSA’s factory in Valenciennes, France.

While the Toyota version looks like one of those samurai crabs, it’ll likely never set foot in the U.S. and that’s a shame — commercial vans are the new hot thing for automakers, you know?

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Proving that all turbo Porsches aren’t created equal, Porsche announced Tuesday its eye-wateringly expensive 911 Turbo and 911 Turbo S hardtop and droptop versions that make up to 580 horsepower and dropkick the car from 0-60 mph in under 3 seconds.

In the trunk is Porsche’s 3.8-liter flat-six married to twin turbochargers that spin up 540 horsepower in the Turbo and 580 hp in the Turbo S (20 more than the outgoing models). The Turbo produces 523 pound-feet of twist (553 pound-feet on overboost in the Turbo S) on the way up to its 7,000 rpm redline (7,200 in the Turbo S). Porsche didn’t directly specify its gearbox, but it’s a pretty safe bet that the new 911 Turbo will only come with a 7-speed dual-clutch automatic because of course it will.

Both cars for the first time feature a quasi-antilag turbo system that reduces delay from the turbos by interrupting the fuel injection during changes in throttle position, according to the automaker.

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Monday was the final day for many workers at Mitsubishi’s Normal, Illinois facility as the plant mostly shuttered operations after 27 years.

WEEK reported that roughly 900 workers finished work Monday before turning in their badges at the plant. About 300 workers will stay until May to produce parts for Mitsubishi, who announced in July that the plant would be closing.

Many of the workers told the TV station that they were too young for retirement and would be looking for work.

“I am going to have to find a job some place else,” Barbara Fisher told WEEK. “I’ll have to look for a job wherever I can find one. If I have to go out of town, I will go out of town.”

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Mitsubishi’s sedan offering in the United States may very likely begin and end with its Mirage (which Mark says they didn’t ruin for 2017) as the company builds more and more crossovers to sell.

“We are strong in SUVs and four-wheel drives. And that is what we would like to focus on as core models in the U.S. market. We have changed direction,” CEO Osamu Masuko told Automotive News. “We are going to allocate more resources to the areas where we are strong in the U.S.”

Mitsubishi will announce a mid-sized crossover to fit between its Outlander and Outlander Sport, which are both due for a redesign in 2017 and 2019 respectively. The automaker is also betting big on electrification: all of its crossovers will either offer a hybrid, plug-in hybrid or all-electric version.  (Read More…)

Ford announced Tuesday that it would spend $1.3 billion to retool, update and build a new body shop for its Louisville, Kentucky plant, which produces its Super Duty truck and large SUVs.

The announced spending, which will create 2,000 jobs at the plant, is part of Ford’s new contract with the United Auto Workers — and part of the automaker’s last deal with the UAW, according to Automotive News.

The investment will create an all-new body shop for the aluminum-bodied truck scheduled to go on sale late next year. With an all-new shop, production of the outgoing truck can continue while the new shop gets online, which could help the automaker avoid another shortage when the redesigned truck hits dealers.

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