Remember the Schadenfreude when the Department of Justice shook down Daimler for $185 million for corruption allegedly perpetrated in U.S. jurisdictions such as Russia, China, Turkey, Egypt, Nigeria, Iraq, Turkmenistan, and a host of others? To add insult to imbursements, Daimler even had to endure former FBI director and Lewinsky-sperm-on-blue-dress investigator Louis Freeh as anti-corruption compliance officer. In the bargain, the NYSE lost Daimler as a listing, because no NYSE listing, no more SEC probes. Everybody knows that these inducements are quite common in the industry. As evidenced by a massive raid involving around 100 police officers. They descended today on Ford’s German plants, on an unidentified company in Leverkusen and on the private homes of Ford employees. (Read More…)
We have said the race for who will be the #1 luxury brand in the U.S.A. is too close to call and that it will come down to the wire. Now, those weenies of Mercedes throw in the towel and concede defeat. “I’m pretty sure we’ll be No. 3,” Ernst Lieb, president of Mercedes-Benz’s U.S., told Bloomberg. Whatever happened to “we will never surrender?” (Sorry, that was a Brit.) But look at those numbers, and join us in shouting “boohoo” at Lieb. And Mercedes. No fight left in them no more? (Read More…)
Automobilwoche [sub] has it on good authority (Mini chief Wolfgang Armbrecht) that BMW plans a minier than Mini car. They want to show a prototype at the Detroit Auto Show next year. They probably can bring it as carry-on. (Read More…)
Having been cut off the lucrative (and in the end deadly) derivatives business, Porsche looks for other sidelines. And it seems very much like they have found one: Consulting.
“Just as car enthusiasts envy Porsche drivers,” reports Automotive News [sub] “company executives salivate over the carmaker’s profit margins, the highest in the industry.” Said salivation generates juicy business at Porsche. (Read More…)
While I was working for the German auto industry (and that wasn’t that long ago), I used to call it the last outpost of unabashed male chauvinism. From dealers (where female customers are treated with disdain) to the boardroom (where women serve coffee), the business remains a man’s world. BMW wants to do something about it. Come on, BMW? (Read More…)
Uh-oh. Septuagenarian Ferdinand Piech is expressing youthful impatience with octogenarian Osamo Suzuki. Volkswagen’s Chairman of the board “is reportedly irked at the slow progress of his firm’s alliance with Suzuki,” says The Nikkei [sub]. The reason? “A year after Suzuki and Volkswagen agreed on a capital and business tie-up, the track record of their partnership remains devoid of significant accomplishment.” (Read More…)
Audi will be developing all future larger SUVs offered by the many Volkswagen brands: The Porsche Cayenne, the Volkswagen Touareg, the Audi Q7 and whatever other larger 4x4s the other brands might offer (fat chance.) Audi was just handed the “Entwicklungshoheit” (design supremacy) for the brutes. Heretofore, they were designed by Porsche. Don’t cry Porsche, they received another job as a trade. (Read More…)
You-know-what-eating grins in Munich: BMW outsold rivals Audi and Mercedes-Benz around the world last month on strong sales of the new 5er and the new X1 SUV. (Read More…)
From Germany to China, and from Brazil to Korea, TTAC’s staff spans the globe to bring you the best automotive content on the web. What we don’t have, however, is a staffer in France, so we can’t tell you exactly what is going on in this video promo for the forthcoming Mercedes SLK. What we can tell you is that we never expected a Mercedes to be sold using French sensuality. It just goes to show that you never know what to expect…
VW claims its working on a new MicroBus, but there’s only one sliding-door VW that currently inspires real lust. With a Haldex 4Motion system, 30 mm of extra ground clearance, beefy rims, all-terrain tires, skid plates and an interior that puts the spar in spartan, the Transporter Rockton may have a silly name, but it’s ready to road trip to the most exotic and poorly-paved sections of the world. And with 180 and 140 HP versions of a two-liter diesel available, you’ll make efficient if somewhat slow progress. The only problem: prices start at €34,545 ($45,600+). Good thing you didn’t have time for that third-world road trip anyway…
A veteran district court judge in Herford, Germany was ordered this week not to hear traffic cases after he dared question whether speed camera citations are being issued merely as a means of generating revenue. Judge Helmut Knoner faces two criminal charges for acquitting forty-two motorists last month after noting that the automated ticketing machines lacked a solid legal foundations and appeared to be installed by authorities with questionable motives.
“Many cities and municipalities are feeling the pressure of empty coffers and earn good money with photo radar,” Knoner stated.
Did you hear that sound? That was a sigh of relief coming from Germany. Germans are buying cars again. In November, they bought more cars than in October 2010, and even more than in November 2008. What’s more, November 2010 is only 6.2 percent below the Abwrackprämien-exaggerated November of the prior year. The usually very conservative Kraftfahrtbundesamtthat released the official registration data even dares to prognosticate that “year and sales are expected to be 2.9 million cars.” Translation: (Read More…)
As documented here, German carmakers mostly talk about EVs, but build very few. Volkswagen’s Christian Klingler even said that customers don’t want EVs, only governments do. He’s sure right about the government part. The German government prods its carmakers to get on with the building of EVs. Germany’s Economy Minister Brüderle (the very same that said no to Opel help) demanded “more tempo” in the EV department. The German government wants to see a million EVs by 2020. The government is worried that the Germans are missing the (electric) train. Just like the automakers, the government is a lot of talk, and little action. (Read More…)
When Volkswagen bought 20 percent (well, 19.9) of Suzuki, everybody assumed it would be one of Volkswagen’s favorite “win-win-win” deals: Volkswagen gets better access to India, where Suzuki owns half the market. Suzuki gets better access to China, where Volkswagen is the largest passenger car brand. Both will work happily together to rule the world by 2018. Now Suzuki Chairman Osamu Suzuki says at least the Indian part is not true. (Read More…)
The following is a “Confidential” memo from the US embassy in Berlin, leaked in the latest Wikileaks dump, describing German reaction to GM’s flip-flop decision to not sell its German subsidiary, Opel. The memo reveals that Germany saw GM as a “unreliable partner” and that at least one German government official believed that “if the U.S. Government had GM under better control, this would not have happened.” The document also confirms that GM scuttled the deal largely over concerns about Russian access to its intellectual property, and that Opel may well have been happy to see the deal fall apart rather than face losing its entire BMW supply business. Though none of this information is completely new, the leaked document provides a fascinating insight into the muddled mess that was the Opel rescue.
BERLIN 00001395 001.2 OF 002
Classified By: ECONMIN Robert A. Pollard for reasons 1.4 (b,d).
1. (C) Summary: Just hours after Chancellor Merkel’s historic November 3 address to a joint session of Congress, General Motors (GM) canceled its sale of Opel to Canadian auto parts manufacturer Magna. The decision, which followed repeated assurances from GM that it was a done deal, came as a complete shock in Germany and dominated media coverage throughout the day. Merkel herself was reportedly highly upset over GM’s flip flop. Ulrich Wilhelm, the Chancellor’s spokesman on Opel said the German government “regretted” the decision, and reminded GM that it must now repay Berlin’s 1.5 billion bridge loan to Opel by the end of the month, while FDP Economics Minister Rainer Bruederle described GM’s action as “totally unacceptable.” The cabinet was expected to discuss the GM move on November 4. Opel’s labor unions, which had strongly backed the Magna sale because of its promise to save jobs and keep plants open, announced that workers would withdraw all concessions made under the terms of the Magna deal and start a general strike at Opel plants on November 5. While anger is widespread, there are already some voices outside the government advocating acceptance of GM’s announcement as the only viable alternative to a total collapse of Opel. End Summary.
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