Daimler plans to turn up the volume on cost-cutting measures due to operating losses in the second quarter that haven’t officially manifested. CEO Ola Källenius believes the damage caused by the pandemic response will be too severe to proceed with business as usual for the rest of 2020. At the company’s annual meeting, held Wednesday, the CEO told shareholders to anticipate additional measures to protect profits.

“Our previous efficiency goals covered the upcoming transformation, but not a global recession. That’s why we are further sharpening our course,” Källenius said, noting that the company is currently in talks with labor representatives. Considering the automaker enacted a plan bent on reducing its workforce by at least 10,000 to save an estimated €1.4 billion ($1.6 billion) by 2022, we doubt those discussions are super cordial.  (Read More…)

Following the triumph that was Audi’s all-electric e-tron utility (the automaker doesn’t believe in uppercase letters), the brand developed a Sportback version for 2020 that sacrificed interior volume for a fastback roofline. The manufacturer describes it as “coiled yet poised, the stylized potential of the e-tron Sportback is clear from any angle — it’s designed to attract, electrify and generate envy of ownership,” making us cringe at the sheer magnitude of its pomposity. Based on the sales record of e-tron models, we may not be alone in feeling that way.

While plenty of outlets praised the model for its luxurious ride and upscale interior with lavish technical inclusions, we’ve come down hard on its production troubles and lackluster range. That’s likely the result of us mistakenly thinking cars should be broadly useful, especially SUVs and crossovers. But we’re also hyper-critical grumps and Audi also failed to deliver on the one item that set these cars apart from their internal combustion counterparts — the battery. Our hope was that the formula would be improved for the brand’s next EV, and that does seem to have happened.

Audi just debuted the Q4 Sportback e-tron Concept to complement the Q4 EV that appeared at the 2019 Geneva Motor Show.

(Read More…)

Tata Motors has been hunting for a new CEO at Jaguar Land Rover (JLR), and new reports claim the search is narrowing in scope. At the start of 2020, the company announced that Ralf Speth would step down as chief executive in September, and that the quest for his replacement had begun — though it technically began in 2019.

We’ve since learned he will stick around as non-executive vice-chairman of JLR and supervise the transition of leadership, with details now emerging about his likely successor. It’s a clever way of keeping him around as he ages into retirement at 65 years, as per the parent company’s corporate policy.

According to the Financial Times, Tata has narrowed it down to three candidates. Internally, JLR seems as though it would like to promote its engineering lead, Nick Rogers. But former Audi CEO Bram Schot and BMW development boss Klaus Fröhlich are also under consideration, in addition to Fred Schulze — Audi’s product line manager at the Ingolstadt plant.  (Read More…)

Volkswagen Group appears to have completed the terms laid out by the U.S. Department of Justice after it decided the automaker required some oversight in the wake of the 2015 emissions fiasco (colloquially known as Dieselgate). VW was found guilty of equipping certain models with emissions-cheating software that would allow the car to run cleaner under testing conditions (passing regulations) and dirtier, with better performance, the rest of the time.

The con was brilliant and allowed VW to fool regulators for years until it all blew up in its face. Getting caught in the United States kicked off a chain reaction that cost the automaker a fortune globally. In May, VW estimated it had spent €31.3 billion ($34.40 billion USD) in fines and settlements and fines globally — adding that it expects to bleed another €4.1 billion through 2021. But the company was certainly happy to announce on Monday that it had adhered to settlement deal it reached with the Department of Justice and California’s Attorney General.  (Read More…)

With McLaren scrounging for cash and cutting 1,200 positions from its ranks in the hopes of prolonging its own existence, it would be an understatement to claim 2020 has been unkind to the automaker. Most nameplates are having a rough year. And almost all are seeking ways to turn things around before the situation becomes untenable and their fate becomes sealed.

The plan for McLaren involved a £150 million loan from the National Bank of Bahrain and more than a few empty seats.

Autocar now claims the brand has even considered selling part or all of McLaren Applied and Automotive. While the outlet admits this likely hinges on its evolving financial situation, a company insider confirmed advanced discussions are focused on selling a minority stake in the Racing division.  (Read More…)

If it seems like years have passed since we’ve issued an update on Ineos Group’s attempt at building a Defender-inspired SUV, that’s because it has been. The British chemical conglomerate asked Land Rover if it could assemble copies of the then-defunct automobile back in 2016, only to be told to take a hike. Unfazed, CEO Jim Ratcliffe said Ineos would move ahead on the program anyway — focusing instead on building an updated model “influenced” by the utility vehicle, but not a carbon copy.

The company now says the model, dubbed Grenadier, is swiftly approaching production. Even though it doesn’t share any parts with the vintage Defender 110, it still resembles the 4×4 utility to a point that might lead to continued legal troubles with Jaguar Land Rover.  (Read More…)

Nissan CEO Makoto Uchida attempted to smooth things over with investors last week by going over his company’s new recovery plan in great detail. As you undoubtedly know by now, the automaker found itself in a less than blissful situation following an ugly internal power struggle that highlighted corporate corruption and a business strategy that seemed like a liability without ideal economic circumstances and the man who penned it running the show.

With its share price already suppressed by worsening sales performance and assumed “management issues” with alliance partner Renault, the internal scandal kicked off by the arrest of former chairman Carlos Ghosn November 2018 is what really sent Nissan’s stock into a tailspin. Shares have lost more than half their value since the incident.

This placed Uchida in the undesirable position of having to explain what went wrong and how to fix it. In the past, Uchida said he’d happily be fired if he can’t turn things around, though that’s usually what happens to CEOs who can’t deliver (or need to be scapegoated and sacrificed on the alter of commerce by their board). Based on comments made at the company’s most recent shareholder meeting, Uchida seems to understand how things work.

“I said, ‘If Nissan’s performance does not improve, please fire me. Please dismiss me,’ ” he reminded the crowd on June 29th. “That’s what I said. And this policy remains unchanged.”  (Read More…)

Dodge continues to parade its buffet of power ahead of the July 4th weekend, announcing the most aggressive versions of its coupe, sedan, and SUV. While the 2021 Dodge Durango lineup happens to be last we’ll cover, we wouldn’t consider it the least important — especially in regard to sales. Most transactions will come via the standard Durango model, which receives a number of exterior enhancements and sweeping upgrades to its interior.

But it wouldn’t have been right for FCA to just leave us with a better SUV after showing us what could be done with the Challenger and Charger. So it crammed the Hellcat’s 6.2-liter V8 inside the Durango before calling it a day, satisfied that it had finally done enough for enthusiasts before emissions regulations manage to ruin their lives forever. (Read More…)

You’ve probably never looked at the Dodge Charger SRT Hellcat and thought to yourself, “There’s no way I’m going to buy that thing until the factory makes one with 797 horsepower and a stop speed of 203 mph.”

Those are figures best left to high-end exotics even rich people rarely drive, not the plebeian family sedan. Besides, Dodge has already done so much to make the Charger as menacing as possible, and the Hellcat variant is already the fastest production sedan in existence. There would be nothing to gain by adding another 80 horsepower and 57 lb-ft of torque except continued bragging rights. It’s a preposterous notion. Yet Dodge happens to be a ridiculous company, absolutely loves bragging, and has earned the right to do so.

Our coverage of Dodge’s latest and greatest performance products continues with the all-new Charger SRT Hellcat Redeye. (Read More…)

Despite being an Italian-American company that will soon align itself with France’s PSA Group, Fiat Chrysler can still be unabashedly American whenever it lets Dodge off the leash. By adhering to the tenets of what (once) made domestic vehicles great, Dodge has bet the farm on providing quality family transportation that can be outfitted with more horsepower than any sane person could want at a price they couldn’t possibly ignore.

Dodge is putting its best on full display for Independence Day, letting the world know its priorities have not changed one iota. Yet there exists a sense — a gnawing feeling — that this could be the final round of truly mental V8 monsters to come out of America. Global emissions regulations and a new corporate structure could mean that SRT’s best may not be seen again for some time.

If that’s to be the case, Dodge has honorably decided to go down singing with some of the gnarliest machines yet to leave its stable.  (Read More…)

With the automotive industry seeing losses across the board, most investors could do nothing but watch in horror as sales reports showed the post-lockdown recovery had not yet begun. But there was a faction that ignored the carnage taking place around them and continued to pump money into their preferred auto brand until it became the most valuable automaker in the world.

While it’s a sin for you not to know, we are obviously discussing Tesla Motors — the infallible, gleaming beacon of modern-day motoring.

The firm officially surpassed mega-giant Toyota on Wednesday, with shares trading as high as $1,228 before tapering off in the evening with a market cap of around $220 billion.  (Read More…)

German prosecutors have incorporated Continental into a probe aimed at determining whether Volkswagen Group cheated on emissions testing. While confessing to the crime in the United States years earlier is a fairly good indication of corporate guilt, Germany wants to make extra sure VW was in the wrong and has branched out its investigation to include suppliers that may have played a role.

On Wednesday, the automaker acknowledged it had been subjected to yet another probe after investigators arrived to comb through its offices. The same treatment was given to supplier Continental, which is suspected of having some sort of involvement in a scandal the automotive industry can’t quite seem to move on from.  (Read More…)

Automotive retail magnate and part-time actor Mark Wahlberg has obtained another car dealership in Columbus (which may be renamed “Flavortown”), Ohio.

After having partnered with longtime friend and business associate Jay Feldman to scoop up Bobby Layman (now Mark Wahlberg) Chevrolet in 2018, the duo said they eventually hoped to expand their auto businesses. Feldman already owned a swath of dealerships in Michigan; the friends admitted they were eyeballing additional opportunities in the area.

They did not have to venture far. Wahlberg just purchased Haydocy Buick-GMC, which is right across the street from the Chevy showroom. The site has already been rebranded to include the Hollywood actor’s name and will immediately leverage his star power to reel in customers.  (Read More…)

When it comes to activism, it’s best to choose your battles carefully. Fortunately, there aren’t too many causes within the auto industry and most are easy to get behind.

Even though environmental activists sometimes find themselves at odds with reality, their hearts are usually the right place, and they’ve encouraged automakers to try new and interesting things with transportation. Safety advocates can likewise go overboard, but we wouldn’t have seen cars get dramatically safer (or heavier) since the 1970s if they hadn’t.

Our favorite has to be consumer advocacy, however. With the exception of the occasional predatory lawsuit looking to take advantage of a dumb corporate decision, there’s precious little to scoff about. It also tends to overlap with our pet peeves by decrying bad business practices within the industry. Case in point, the Consumer Access to Repair Coalition has recently asked Congress to rethink how vehicular data is shared — noting that automakers shouldn’t need real-time monitoring for repairs and that the technology likely poses an unnecessary security risk.  (Read More…)

Early adopters willing to toss cash at an exciting idea have been the lifeblood of modern-day electric vehicles. Without investors believing in Tesla and cramming its sweet cheeks full of cash, it never would have gotten to a point where it could actually manufacture cars. The same is true for the thousands of people dropping deposits on vehicles that have yet to be produced, let alone tested by the community.

It’s time to do the same for American hybrid truck designer Nikola, true believers. The all-electric startup is now accepting deposits on its prospective pickup truck. Due to arrive in a few years, the unit currently has no prototype. Under normal circumstances, we’d continue ribbing the company via monthly updates until it dissolves like Faraday Future. But its ludicrous market valuation seems to indicate that the hype is very real, even if the same cannot be said about its products.  (Read More…)