Congressional Republicans blasted current and former Fisker executives, as well as an official from the Department of Energy over missed milestones for their Department of Energy loans, which saw the company repeatedly fail to meet obligations while continuing to receive taxpayer money.
As part of their campaign against “distracted driving”, NHTSA has released new voluntary guidelines governing the use of in-car infotainment systems.
American consumers may have been robbed of a chance to buy the Mahindra pickup, but how about one from Great Wall?
Sub-prime finance has attracted a bit of interest (no pun intended) over at TTAC lately, and the segment itself has experienced phenomenal growth in the post-bailout era.
Auto lending site www.carfinance.com released a list of the top 10 most popular new and used vehicles as purchased by sub-prime buyers over the last six months. While it’s not the most complete list by any means, it does give us a glimpse into the choices of sub-prime buyers. As far as we know, no such list has ever been compiled prior to this.
The pendulum swings to the U.S.: As expected, Ford turned in higher-than-expected first-quarter profits today, while in Germany, Daimler’s formerly pornographic profits were slashed in half, and Volkswagen stubbornly maintained its outlook despite declining profits. Read More >
Toyota released global production numbers for the first quarter of 2013 today, which gives us a chance to officially initiate our 2013 tracking of the World’s Largest Automakers, based on hard data. Having made 2.5 million units in the first three months, Toyota maintains its lead over runner-up GM and third-place Volkswagen, however, the field is tight. Read More >
In less than a decade, the number of auto company workers employed by companies other than the Big 3 has risen from 25 to 39 percent. But by 2017 that number could rise to 50 percent.
The U.S. government has managed to recover $21 million in cash from Fisker, funds that will go towards repaying the nearly $200 million its received from the government in the form of loans.
One of the biggest changes implemented by Ford in the post-bailout area is the “One Ford” policy, which calls for an end to regional specialty products. While this has led to Ford’s mainstream lineup moving towards the European Fords that enthusiasts previously longed for, it also means that vehicles like the rear-drive Falcon will get the axe.
Despite overwhelmingly positive press for the Fiat 500e, the electric Fiat is known to be a bete-noir for Fiat CEO Sergio Marchionne. Speaking at the SAE Congress last week, Marchionne claimed that Fiat loses $10,000 on each 500e, describing it as “masochism”.
I admit that upon first viewing the Buick Encore, I was repulsed by its goofy proportions and the poor fit and finish on the interior of multiple examples (yes, they were production examples, not hastily slapped together pre-production cars). But the market is what makes the winners and losers in the end, and the baby Buick is putting up some solid numbers.
Production of the Lexus ES will move from Toyota’s plant in Kyushu, Japan to a plant in Georgetown, Kentucky, where its platform twin, the Toyota Avalon, is built.
Despite a chorus of largely uncritical reporting, there is a growing contingent of those who question VW’s claim that their new MQB modular architecture will bring about significant savings. The latest among them is Bernstein Research. A report by noted analyst Max Warburton (who recently authored the definitive study on Chinese cars) questions VW’s claims and shows how MQB may be helpful, but not nearly as significant as VW claims. On the other hand, it’s worth noting that these reports are meant for end-user investors, not necessarily industry types.
Now that Chevrolet has revised their EPA mileage estimate for the Chevrolet Cruze Diesel, from 42 mpg to 46 mpg, we need to revise our own estimates.
PrivCo, a private corporate intelligence firm, has published a 20+ page dossier on Fisker’s seemingly strong ability to fundraise for itself, while failing to do a good job of actually creating cars. With Fisker teetering on the verge of bankruptcy, the results are staggering; with just under 2000 units sold, Fisker burned through an estimated $1.3 billion in venture capital, taxpayer-funded loans and private investor funds.
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