It’s no secret Ford Motor Company cut its previous CEO, Mark Fields, loose after the company’s stock price fell 40 percent during his time at the helm. Eager to attract investors, Fields’ superiors must have looked at General Motors’ and Tesla’s valuation and wondered, Dammit, if a very profitable company and a very unprofitable company can do it, then hell, so should we.

Out the door Fields went. Since taking the big chair in Dearborn, CEO Jim Hackett has pissed off automotive purists with his “future cities” and mobility talk, and word that the Mach 1 will return as an electric crossover hasn’t done anything to endear him to the pony car crowd. The new Mustang Bullitt does not erase this sin.

Animosity aside, Hackett has managed to place a checkmark next to a top item on his to-do list: get Wall Street’s attention. (Read More…)

Amid frantic restructuring designed to keep General Motors’ money-losing Korean operations afloat, the automaker has proposed a $2.8 billion investment, a new report claims.

According to Reuters, a South Korean government official said GM would invest the funds over the span of 10 years, though not all of that money would come from the automaker’s coffers. (Read More…)

Hyundai Motor Company and its Kia affiliate are starting off the New Year with a promise to float barges full of cash to U.S. shores.

The automaker has announced a plan to funnel $3.1 billion into its American operations over the next five years, handily killing two birds with one stone. Not only would it (potentially) placate President-elect Donald Trump’s thirst for non-Mexican automotive investment, it would also fix a thorny problem facing Hyundai’s vehicle lineup. (Read More…)

Looking for a place to park that retirement cash? Find a Porsche crest.

Last year, the average sale price for 1974-1977 Porsches increased by 154 percent, according to Bloomberg — and the prices aren’t expected to drop anytime soon, according to the report.

“European sports cars in general have been on a real rise in the last couple of years,” Gord Duff, from RM Sotheby’s, told Bloomberg. “Ferraris lead the way and then you go to the next greatest European sports cars, which are Mercedes, and then you get to Porsches. If we are saying Mercedes have peaked, Porsches are the next best thing.” (Read More…)

The European Union’s anti-fraud office is investigating Volkswagen for misusing publicly funded loans to develop illegally cheating software in its cars, the New York Times reported Wednesday.

Volkswagen was provided the low-interest loans by the European Investment Bank to develop engines that were more fuel-efficient and produce less carbon dioxide, according to the report. In September, the automaker admitted that 11 million vehicles worldwide polluted more than advertised and used an illegal “defeat device” to fool emissions tests.

The automaker’s woes compounded Wednesday: A European bank — partly funded by the U.S. — announced it would suspend a $327 million loan to Volkswagen that would have been used to build a $1.2 billion factory in Poland. That factory was slated to build commercial vehicles.

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Toyota will open a new artificial and robotics R&D company to be called Toyota Research Institute, Inc. (TRI) with an initial investment of $1 billion to open two locations in the United States, the automaker announced Friday.

TRI, which will make its headquarters in Palo Alto, California and establish another office in Cambridge, Massachusetts near MIT, will be led by Dr. Gill Pratt, a former academic in the field of engineering and program manager at DARPA.

“The investment is in addition to the $50 million investment over the next five years with MIT and Stanford to establish joint fundamental artificial intelligence research centers at each university,” said the automaker in a release.

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Imagine growing up in the modern day world and having no future.

No education. No upward mobility. No right to pursue a better life beyond just a few crumbs of financial sustenance.

This is the reality in most Arab countries and former Soviet republics. It’s a world where opportunities are almost non-existent and certain cliques and clans determine who has the exclusive right to get ahead.

I grew up traveling the world in a family business — the food import business, to be exact. I have learned that in the West there is a tendency to believe folks can overcome Herculean odds in the pursuit of that better life, whatever and wherever it may be.

That opportunity just isn’t there in these places where even geniuses can be damned to a life of a terminally squalid environment. It’s a shame. But what if instead of investing billions of dollars in armaments and other forms of support to these idiotic regimes, we tipped the scales of supply and demand a bit in favor of the billions of little guys and little girls?

Let me explain.

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GM Canada announced Wednesday it will make a small investment in Oshawa Assembly’s Consolidated Line thanks to increased demand of the Chevrolet Equinox.

“It’s a modest investment in terms of its size, but it increases the volume of stamping we do at CAMI to increase the run. (The increased stamping) will then boost Equinox production in Oshawa,” GM Canada’s VP of Corporate and Environmental Affairs David Paterson said in an interview with TTAC.

More body panels are stamped at CAMI than that plant’s assembly line can use, which required GM to utilize its “shuttle program” to transport excess Equinox bodies to Oshawa’s Consolidated Line for final assembly, according to GM.

The majority of the $12 million CAD investment will go to CAMI, though the detailed amount was not disclosed. Additional labor will not be needed to produce the additional Equinoxes.

While the success of an 11-year-old model (the Equinox went into its second generation as an enhanced refresh) is newsworthy, there is a larger issue at play.

“That investment has the effect of extending further the Consolidated Line until at least 2017,” said Paterson.

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General Motors will spend $877 million to upgrade its Flint, Michigan pickup plant, the automaker announced Tuesday.

The assembly plant, which is the oldest GM factory in North America, will get a new body shop as part of the investment along with general improvements.

The plant makes full-size trucks for GM, including heavy duty versions.

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More and more automakers are looking at exotic locales to produce their wares (us Canadians can consider Mexico exotic thanks to its ice-free beaches) as they expand their brands and explore in-roads to untapped markets.

For Jeep, that means investing in a shared money-printing press with an unlikely partner: Tata, the parent company of Land Rover. FCA will put $280 million USD into joint venture Fiat India Automobiles Private Limited which, since 2007, has solely produced Fiat models.

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Globally, auto makers spent $17.6 billion on expanding manufacturing facilities – and none of that was spent in Canada.

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For the first time in more than a decade, new car sales in India have failed to post a year-over-year increase. Instead, a sharp drop in sales spells bad news for carmakers with heavy investments in that important developing market.

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Toyota’s Cambridge, Ontario plant will have the honor of being the sole facility outside Japan to produce hybrid Lexus RX crossovers. The announcement came alongside plans for an investment of $34 million investment from the Canadian government.

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The Canadian government will put up $250 million as part of an “auto innovation fund”, a continuation of a 2008 program which the government claims led to over $1 billion in spending. (Read More…)

The S-Class Mercedes has been the default choice for the global taste-and-wealth set for a very long time, probably since the demise of the Elwood Engel Continental. The 7-Series BMW, by contrast, has always been a slightly embarrassing purchase, the choice of the man cut out from the classy club by birth, ignorance, or a slightly unseemly insistence on driving dynamics. BMW is the striver’s brand, launched into the spotlight by a man who was sort of the Nadia Comaneci of sweaty social climbing. Mercedes is the real thing. Hasn’t it ever been thus?

German investors, on the other hand, seem to like the Roundel.

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