Archive for the ‘South America’ Category

CEO Says VW Ready to Build 50 Million EVs

German automaker expects to spend nearly $60 bil on batteries alone.

by on Nov.12, 2018

VW's CEO Herbert Diess said the company made arrangements to buy 50 million electric vehicle batteries.

Even though it won’t launch its first long-range battery-electric vehicle, or BEV, until next year, Volkswagen’s CEO is forecasting massive growth in the sector, the German automaker already having “booked” plans to build 50 million BEVs.

Precisely how long it will take to hit that target Volkswagen Chief Executive Herbert Diess didn’t say during an interview with German trade publication Automobilwoche. But the VW Group is expected to sell 10.7 million vehicles this year, a figure that includes a broad range of powertrain technologies, primarily diesel and gasoline.

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The launch of a Golf-sized all-electric model next year will put Volkswagen in direct competition with Tesla, and the Germans are preparing to roll out an array of other BEVs, including a reborn Microbus set to be called the I.D. Buzz. Sibling brand Audi, meanwhile, just introduced its first BEV, the e-tron SUV. All told, the various VW Group brands, ranging from entry-level Seat and Skoda to high-line Bentley and Lamborghini, plan to have at least 40 all-electric models in showrooms by 2025. (more…)

Renault, Alliance Partners Boost Investment in France

Group invests $1.6B in the country in the past year.

by on Nov.12, 2018

Alliance CEO Carlos Ghosn, left, and French President Emmanuel Macron, center, tour Renault's plant in northern France.

Renault plans to build new Nissan and Mitsubishi vans at plants in France, raising investment in the country as it continues to explore a tighter integration of the three-way carmaking alliance.

The announcement, which timed to coincide with a plant visit by French President Emmanuel Macron, “underlines the importance of France for the alliance,” Renault-Nissan-Mitsubishi said in a statement.

Global News!

Renault will build a new Nissan NV250 delivery van at the Maubeuge factory in northern France, which has been hard hit by de-industrialization. The new van will be built on an architecture shared with its own Kangoo model that includes an electric version, the alliance said in a statement. (more…)

VW Reportedly Set to Undercut Tesla Model 3 Price with Entry Long-Range EV

Entry model could come in around $23,000, according to report.

by on Nov.09, 2018

VW plans to have two dozen fully electric vehicles, like this I.D. Crozz concept, in production.

Volkswagen is set to launch a base-model, long-range electric vehicle for less than $23,000, according to a report by Reuters, a price that would undercut the long-awaited entry-level Tesla Model 3 by more than a third.

Initially reluctant to enter the electrified vehicle market, the Volkswagen Group has now laid out an aggressive strategy that will include more than 40 all-electric models, as well as dozens of hybrids and plug-ins, for sale through its dozen different passenger vehicle brands. Meanwhile, the Wolfsburg-based carmaker is in discussions with Ford Motor Co. that could see them cooperate on EV development.

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The VW brand itself will cover a wide range of model segments with pure battery-electric vehicles through a new sub-brand dubbed I.D. These will include a reborn version of its legendary Microbus set to be marketed as the I.D. Buzz, as well as mid-sized and smaller offerings. The base model, TheDetroitBureau.com confirmed, is being referred to internally as the “MEB entry.” (more…)

Nissan Profits Fall 8% in First Half of Fiscal Year

Sales hit in North American while China grows.

by on Nov.08, 2018

Nissan CFO Hiroshi Karube reported the company's profits fell 8% overall due to falling sales in North America and Europe.

Nissan Motor Co. reported an 8% drop in quarterly profits due to declining sales in its biggest markets, North America and Europe, as well as hits on raw material costs.

The Japanese automaker reported quarterly profits of 130.4 billion yen, or $1.1 billion, on Thursday, down from 141.6 billion yen the same period a year earlier. The automaker noted that quarterly sales fell nearly 3% to 2.82 trillion yen, or $24.8 billion.

Global News!

However, this dip in profits wasn’t enough for Nissan to revise its forecast for the fiscal year through March for a 500 billion yen, or $4.4 billion, profit on 12 trillion yen, or $106 billion, sales. (more…)

Denholm Replaces Musk as Tesla Chairman

Appointment could be temporary, as Musk can regain post after three years.

by on Nov.08, 2018

Australian Robyn Denholm will succeed Elon Musk as Tesla's chairman, though he remains CEO.

Australian Robyn Denholm is Tesla’s new chairman, replacing Elon Musk as head of the board of directors following a settlement with the Securities and Exchange Commission that forced the South African-born exec to relinquish his role.

Musk, who will remain chief executive officer of the battery-carmaker, can attempt to regain the chairman’s post, as well, after a three-year hiatus mandated by the SEC settlement. The agreement was reached after the government accused the 47-year-old of lying to investors when, last August, he declared that he had arranged funding to take Tesla private.

Breaking News!

The move will position Denholm as one of the highest-ranking female executives in the auto industry, with General Motors’ Mary Barra the only other woman serving as chairman of a major car manufacturer. Denholm had already been serving as an independent director on the Tesla board since 2014. There is one other woman on the board. (more…)

Toyota Earnings Soar on Global Sales Surge

Automaker lifts full-year forecast.

by on Nov.06, 2018

Strong demand for Lexus, especially in the Chinese market, helped Toyota deliver strong earnings.

Toyota Motor Corp. reported a 28% increase in its net profit for the July-September quarter, earnings buoyed by strong demand in key global markets, including the Americas, Asia and Europe.

The Japanese giant also advised that it expects to see earnings push past earlier forecasts for the full year, in part driven by unexpectedly strong demand in China. Sales of the Lexus brand, have been booming there, despite a slowdown in the overall Chinese market.

Business News!

Sales gains were only one of the factors that propped up Toyota’s bottom line, said Senior Managing Masayoshi Shirayanagi. Referring to aggressive cost-cutting efforts, he said, “We are steadily making progress toward achieving our challenge-level target.”

(more…)

Tesla’s Musk Says Pickup Truck Design is “Futuristic-like Cyberpunk”

He added if it doesn't sell, a more conventional-looking truck may come.

by on Nov.05, 2018

Tesla's Elon Musk said the product he's most excited about is the company's pickup truck.

Now that the Model 3 is launched, Tesla fans want to know what’s on the horizon and a truck has been an oft-mentioned possibility after the Model Y. With those thoughts come possibilities: full-sizes, midsize … compact? Nope.

Cyberpunk.

Product News!

“It’s gonna be like a really futuristic-like cyberpunk, ‘Blade Runner’ pickup truck,” Musk said during the Recode Decode podcast. “It’s gonna be awesome, it’s gonna be amazing. This will be heart-stopping. It stops my heart.” (more…)

Ford, VW Discussions Now Far More Wide-Ranging Than Originally Planned

by on Nov.02, 2018

Ford and VW initially wanted to discuss cooperation on light commercial vehicles.

Talks between Ford and Volkswagen are covering far more territory than originally planned, when the two signed a memorandum of understanding in June that initially focused on joint development of commercial vehicles.

While Ford officials have told TheDetroitBureau.com there is no thought to an exchange of equity, virtually everything else seems at least open for discussion, with a number of key ventures being considered. According to various U.S. and European sources, these include joint development of a small pickup, cooperation on electrified and autonomous vehicles and possibly even collaboration on sales and marketing in trouble-spot markets, such as Europe and Latin America.

Breaking News!

Several reports have suggested that a major announcement could be in the offing, and a source close to the talks told TheDetroitBureau that “There could be an update by the end of the year.” But that person stressed that not all the discussions underway are likely to be resolved immediately, and could be spread out over months, even years – even “if everything (being negotiated) comes true.”

(more…)

First Drive: 2019 Honda Accord Hybrid

Plenty of power, polish make it a keeper.

by on Nov.02, 2018

The 2018 Honda Accord Hybrid won the North American Car of the Year for this year.

Honda has taken its share of quality lumps lately, but its also shown it makes terrific cars such as the Civic and Accord, which was named North American Car of the Year back in January.

Now Honda has rolled out the hybrid version of the Accord and it is also just as impressive in its own ways the Accord that runs only on gasoline.

Reviews You Can Trust!

But the 2019 Accord Hybrid’s blend of gasoline and electric motors make the car even more versatile particularly in urban driving where the EV mode and extra low-end torque from the combined powertrain give the Accord an added dimension that is both practical and pleasing to drive in heavy traffic.  (more…)

First Official Look: 2019 BMW 8-Series Convertible

New Bavarian flagship rolls back its top.

by on Nov.01, 2018

BMW's got a replacement for the 6-Series convertible with the new 850i for 2019.

We’ve been seeing some leaked images in recent days, but now we can offer you an official first look at BMW’s new flagship convertible.

There were more than a few folks disappointed to learn that the 6-Series Cabriolet was going away. But if you have the budget, it’s going to be difficult to complain about the new 850i ragtop. Oh, and yes, it skips the hardtop approach taken by some premium convertibles in favor of a more traditional cloth top.

Breaking News!

Set to make its official debut later this month at the Los Angeles Auto Show, the sleek new cabrio has a lot in common, as you’d likely expect, with the coupe version of the 8-Series that made its formal debut early in October at the Paris Motor Show. (more…)