Archive for the ‘NAFTA’ Category

GM Expects Bigger Profits, More Transformation in 2019

Company wants to make workforce changes during strong labor market.

by on Jan.11, 2019

GM CEO Mary Barra is leading the transformation of the company's manufacturing footprint.

General Motors Co. expects earnings to grow in 2019 as it restructures, picks up the pace of moving towards what Chairman Mary Barra described as an “all-electric” future, and maintains its market share in China.

“We will continue to strengthen our core business and invest in the technologies that will transform the future of mobility. Managing both well is critical to position General Motors for success for generations to come,” Barra said, adding that it was better to tackle this restructuring during a strong labor market.

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“We are committed to driving significant shareholder value over the long term as we drive the transformation,” she added. (more…)

Jaguar Land Rover Cutting 4,500 Jobs in Europe

Brexit, dying diesel sales and slow sales in China driving cuts.

by on Jan.11, 2019

Jaguar Land Rover CEO Ralf Speth said the company was facing struggles due to Brexit and other industry issues around the globe.

Jaguar Land Rover is preparing to eliminate about 4,500 jobs worldwide as it responds to the decline of demand for diesels, the slowdown in the sales of new vehicles in China and the drag on sales created by Great Britain’s withdrawal from the European Union, known as Brexit.

While Jaguar Land Rover enjoyed a good year in the U.S. with sales rising 7%, the company, which is the United Kingdom’s largest automaker representing roughly 10% the company’s workforce, is implementing a plan to reduce costs by $3.2 billion.

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The effort was announced last year as part of a series of moves toboost cash flow through 2020. JLR already eliminated 1,500 jobs in 2018, the company said Thursday in a statement. (more…)

Canadian Workers Return After Protest at GM’s Oshawa Plant

Union staged sit-down strike after GM rejects proposals.

by on Jan.10, 2019

Workers at GM's plant in Oshawa, Ontario, staged a sit-down strike after the company rejected plans to keep the plant open.

Workers at General Motors’ Oshawa Assembly Plant outside of Toronto have returned to work after a brief sit-down strike this week that began a few hours after GM rejected a plan proposed by their union to keep the plant open until the end of 2019.

“The workers were so upset they couldn’t work. They couldn’t believe that General Motors had announced that all their hard work was going to be rewarded by canceling their livelihoods, by telling them the plant is closing,” Greg Moffatt, the plant chair representing Unifor workers at GM’s Oshawa facility, told reporters late Tuesday evening, according to Canadian Press.

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Production resumed Wednesday, however, but leaders of union representing some 3,000 Canadian automakers in Oshawa have vowed to continue the fight to save the plant. (more…)

Ford, VW Could Roll Out a Series of Deals Over Coming “Weeks and Months,” Says Farley

Automaker also looking to expand ties to Indian ally Mahindra & Mahindra.

by on Jan.10, 2019

Ford's Jim Farley said the company is deep in talks with Volkswagen AG, but said there are plenty of small details that need to be worked out.

Ford Motor Co. is moving towards signing a series of new projects pairing it with Volkswagen AG, the first of those deals possibly being announced as early as next week. But a senior source tells TheDetroitBureau.com that final details haven’t yet been approved by the two automakers, something that could hold back a formal announcement.

And, with a variety of different projects now being negotiated, the new partners could spread out any news over a period of “weeks and months,” according to Jim Farley, Ford’s president of Global Markets.

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The tie-up with Volkswagen is not expected to involve any equity swapping, sources close to the talks emphasize, but the eventual relationship is likely to be significant. If the key projects now under discussion prove fruitful they could range from joint development of commercial vehicles, electrified vehicles and other products to global marketing alliances that would take advantage of the strengths of each company. (more…)

Ford and VW Ready to Announce New Partnership, Sources Say

Auto giants to form alliances in multiple areas, Reuters reports.

by on Jan.09, 2019

Ford CEO Jim Hackett, left, and Chairman Bill Ford earlier confirmed the talks with Volkswagen. Might they announce a deal next week?

The lengthy talks between Ford Motor Co. and Volkswagen AG to forge some sort of money-saving, product-expediting partnership appear to be coming to a conclusion with an announcement coming sometime next week during the North American International Auto Show in Detroit.

“A global alliance is expected to be announced,” one person familiar with the talks told Reuters, adding that the pact will be unveiled next Tuesday during the Detroit auto show. Another official echoed similar sentiments to TheDetroitBureau.com earlier today.

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It’s possible that an announcement could come as early as this evening as Ford is hosting an event tonight in Detroit. (more…)

Chevy Launches Expansive Marketing Blitz for Silverado

Brand hitting new and old media to hype latest truck.

by on Jan.09, 2019

Chevrolet's new promotional blitz for the new Silverado includes a new TV ad titled "A Little Bit Country, A Little Bit Rock 'n Roll."

Chevrolet has launched a broad new marketing campaign to bolster the sales of the all-new 2019 Silverado that includes an alliance with Amazon, the top retailer in the U.S.

The marketing campaign began with a traditional television advertising blitz during the College Football Playoff National Championship this week with the debut of the new 60-second TV commercial “A Little Bit Country, A Little Bit Rock n’ Roll” and carried over onto late-night television.

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The campaign comes as the Silverado is feeling some intense pressure from its main rivals Ram and Ford. Ram sales are steadily closing the gap with Silverado. Ram sold 500,000 units in 2017, but sales increased 7% to 536,980 while Chevrolet’s sale were essentially 585,561 in part because GM was re-fitting its plants to bring on the new version of the Silverado.  (more…)

Mercedes Pulls Wraps Off Gen-2 CLA at CES

An emphasis on technology.

by on Jan.08, 2019

Mercedes-Benz is looking to recreate the buzz that the first-generation CLA generated during its debut in 2013.

If at first you do succeed, try, try again, or so one might say of the new sedan Mercedes-Benz unveiled at the Consumer Electronics Show in Las Vegas today.

The original Mercedes CLA was one of the biggest hits the German brand ever had when it was launched in 2013, drawing in a mix of hip young buyers, many entering the luxury segment for the first time thanks to a price tag starting just under $30,000. The coupe-like sedan did have its share of critics, however, and Mercedes aims to address some of their concerns with the second-generation CLA.

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“The new edition of the CLA has been developed further in an intelligent way and is even more emotional and sportier than its predecessor,” said Britta Seeger, the global head of Mercedes-Benz Cars Marketing & Sales. “Coupled with new operating systems, it sets new benchmarks for the entire class.” (more…)

Israeli Tech Company Shows Off 4D Imaging Radar at CES

Arbe's new tech paves way for improved autonomous vehicles.

by on Jan.08, 2019

Arbe Robotics new 4D imaging radar can tell the difference between moving and stationary objects.

Hoping to follow in the footsteps of Mobileye, which has made its vision technology essential to automated vehicles, Israeli technology company Arbe is unveiling technology that could be used to enhance vehicle automation.

The aforementioned Mobileye is now part of technology giant Intel after accepting a $15 billion buyout, but Tel Aviv-based Arbe Robotics unveiled its Phoenix automotive 4D imaging radar powered by the company’s proprietary chipset technology during the Consumer Electronics Show in Las Vegas.

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Kobi Marenko, CEO of Arbe Robotics, said the beta version of Phoenix enables evaluation and development towards production and full commercialization of 4D imaging radar for all levels of vehicle autonomy. Phoenix provides an image 100 times more detailed than other radars available to automakers and offers clear separation of stationary and moving objects in real time – an industry first, he said. (more…)

Ousted Nissan Boss Ghosn Ready to Tell His Story in Court

“I think everyone will be rather surprised,” son says.

by on Jan.07, 2019

Carlos Ghosn, former CEO of the Renault-Nissan-Mitsubishi Alliance, will get his day in court tomorrow.

Seven weeks after his unexpected arrest, former Nissan CEO Carlos Ghosn will finally get a chance, albeit a brief one, to lay out his side of the story when he gets to address a court in Tokyo on Tuesday.

Having so far refused to sign a confession demanded by Japanese prosecutors, Ghosn is expected to assert his innocence and deny allegations of various financial wrongdoings during a 10-minute session. It will be the first time since the 64-year-old executive was arrested after landing at Tokyo’s Haneda Airport on Nov. 19, that he has been seen in public. He has since been held in solitary confinement in the Tokyo Detention Center.

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“For the first time, he can talk about his version of the allegations against him,” 24-year-old son Anthony Ghosn said in the interview with the French newspaper Le Journal du Dimanche on Sunday. “I think everyone will be rather surprised hearing his version of the story. Until now, we’ve only heard the accusers.” (more…)

Faraday Future May Have a Future, After All

Start-up settles dispute with primary investor.

by on Jan.07, 2019

Faraday Future has been at death's door for several months now, but a new deal with an investor may clear the way for its return to life.

Only a week ago, it seemed, EV start-up Faraday Future was down for the count. Now, however, it may have a new lease on life, after appearing to resolve a dispute with its primary investor.

That said, the California-based carmaker isn’t out of the woods. That investor, China’s Evergrande Health, has simply agreed to step back on its stake in the company. Faraday must now find a new primary investor that will help it resume operations, starting with bringing back a major portion of its workforce laid off in recent weeks.

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Under the agreement, the two parties will “terminate the previous investment contract, withdraw and waive all litigation and arbitration proceedings, and release all security including the asset preservation pledge and equity financing rights,” Faraday said in a statement. (more…)