Video NSFW for language
Automotive News features one of the better breakdowns of automaker Facebook campaigns, minus the breathless masturbatory social media buzzwords that so frequently surround any discussion of “engagement” or “conversations” . The consensus seems to be shifting in one direction; it’s worthless, even if Mark Rechtin and David Barkholz are too polite to say so.
Is Social Security the third rail of politics?
Perhaps. I don’t know a single politician who ever got elected by telling his constituents, “Let’s cut Social Security expenditures to seniors.”
That would almost be like trying to become the CEO of a company by telling the senior executives, “You know… we get paid far too much for the work we do. Let’s cut our pay and while we’re at it, reduce our executive pension programs.”
In a similar vein, raising speed limits tends to get a similar reception with most county and city governments. The lost revenue. The safety issues. The ‘children’. When discussing this idea in any public meeting, you’re likely to get little more than a combination of glazed eyes and hard stares from city officials.
But it’s a bit different in Bricklynn. That’s because Bricklynn’s citizens are a bit more involved in their town’s decision making than usual.
Mazda is set to build the final RX-8, bringing a temporary end to the rotary engine, which powered its flagship sports cars for 45 years.
Ford expects June new car and truck sales to come in at the same rate as in May, and sees a cloudy rest of the year as the outlook for the economy remains mixed. Read More >
Consulting firm Alix Partners predicts a slowdown of U.S. auto sales. The study, reported at Reuters, cites the usual suspects, such as lingering high unemployment, increased costs and more people driving less. It then touches on something that is very basic, but often overlooked: Sales are driven by the number of potential buyers. If there are fewer buyers, there will be fewer buys. New cars are bought in certain age groups, usually somewhere at around 35 and up. As the boomers are going out to pasture, there simply will be fewer potential buyers. Read More >
While other carmakers are treading water or worse, BMW’s global sales were up 9.1 percent for the first five months of the year, mostly on strong gains in China. That party is about to end, claims Citi Investment Research and downgraded BMW AG from “buy” to “neutral,” Reuters reports.
In the euphemistic world of stock analysts, a “neutral” usually means a sell. Read More >
Judging from their writings, many TTAC commenters are prime candidates for a job as CEO at one of the world’s largest automakers. However, be careful who you work for. Executive pay is all over the map. It ranges from a charitable contribution of $1.71 million given to Toyota’s CEO, to nearly $29 million a year on Ford’s Alan Mulally’s paystub.
This according to a table circulated among reporters who, perched precariously in the 6th floor balcony of the National Convention Hall at the Pacifico in Yokohama, observed Nissan’s 113th ordinary general shareholders meeting today. Read More >
Autotrader.com recently decided to borrow $400 million for a brand new venture.
Was it in the field of research and development? Nope.
New marketing studies to explore an emerging niche in their core business perhaps? Not quite.
Issue a one-time $400 million dividend to their private shareholders and executives just before the IPO? Bingo!
The ones who will be paying for the principal and interest on this debt will be the upcoming shareholders in the form of lower earnings, a lower market valuation, and one other not so little thing hidden in the prospectus.
You will find the Deer Park Winery and Automotive Museum in suburban San Diego, next door to the Lawrence Welk Resort for seniors. Yes, that Lawrence Welk. Just follow the Chevy Impalas with their turn signals stuck on.
The museum is a semi-secret. I lived in Southern California for three years before I heard about this eclectic Escondido auto collection. I would later introduce it to other car nuts who were unaware of it, including one who worked only five miles away. Read More >
My wife had an old Steenkin’ Lincoln.
It was a 1983 model. 4 doors. Maroon. What I would call ‘Mighty Thor’ had been nothing more than a temporary home for sunbathing cats and vast amounts of driveway real estate.
Thumbtacks, staple guns, duct tape, a maroon bathmat for the passenger floor, along with a new battery and fluids gave the car a new life.
For several years it gave my wife basic transportation at a time when gas was cheap and our expenses were slim.
Then it happened…
Over the last 12 years, GM lost $16 billion in Europe, more than a billion each year. Ford is doing a bit better, but it sits on excess capacity of 300,000 units in Europe and expects a loss of $500 million to $600 million. Automotive News [sub] recommends to both: Pack up and leave. Says Luca Ciferri in AN: Read More >
Some people say Obama saved GM from the abyss. Some people say GM sold its soul to the Chinese devil to cheat death. In truth, the future of General Motors rests on the shoulders of a 5-foot-2 woman by the name of Diana Tremblay. Writes Ben Klayman at Reuters:
“Global manufacturing chief Diana Tremblay is one of the highest-ranking women in the automotive industry. Throughout her 35-year career at GM, she has made her mark in what were regarded as male domains, from directing foundry workers to staring down union labor negotiators.
Now she faces an even more critical task for the world’s largest automaker – ensuring the smooth 2013 introduction of the remodeled full-size pickup trucks and SUVs, GM’s high-profile equivalent of a new Apple iPhone. Read More >
The Arlington, Texas plant that builds full size SUVs like the Chevrolet Tahoe and Cadillac Escalade will get a third shift, adding 800 jobs.
Here’s a breath of fresh air; Volvo CEO Stefan Jacoby declared that his cars, laden with safety systems and other gadgets, are too complex for most of Volvo’s customers.
Five years ago, former and now disgraced Porsche chief Wendelin Wiedeking started the Porsche SE. It was a holding company, destined to hold the shares of Volkswagen after a successful takeover. Porsche cars are made by Porsche AG. The takeover never happened. Volkswagen bought nearly 50 percent of Porsche AG, and wants the rest ASAP. What will become of Porsche SE?
If the shareholders agree – and the shareholder meeting is today – Porsche SE will become a trading house, selling rare earths, building solar farms, and offering car sharing services, Germany’s ARD says. Read More >
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