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Trump Wants Boycott of Harley-Davidson

President tweets support of motorcycle boycott.

by on Aug.13, 2018

President Donald Trump has once again turn his focus on Harley-Davidson, with support of a boycott of the American motorcycle maker.

President Donald Trump is attempting to rally Harley-Davidson owners to boycott the company if it moves any of its production overseas.

In a tweet, Trump said that “many” Harley owners were going to boycott the company. The company earned the president’s ire after it announced plans to build some motorcycles at overseas locations to avoid the steel tariffs put in place by the Trump administration as well as the retaliatory taxes enacted by the European Union in responses.

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The company said it would lose as much as $100 million annually due to the move, which would raise the price of the motorcycle by more than $2,200. It also noted that all bikes sold in the U.S. are made in the U.S. (more…)

China Locks Down American-Made Mercedes SUVs

Brake problems cited, but move comes as trade war heats up.

by on Aug.10, 2018

China has placed a hold on U.S.-built Mercedes-Benz SUVs due to a "problem" with the rear brakes.

Chinese customs agents are holding up a shipment of American-made Mercedes-Benz SUVs, ostensibly due to technical issues, but the timing of the move raises questions, coming just as the trade war between the U.S. and China heats up.

Following a move by President Donald Trump to impose new tariffs on Chinese goods, the Asian giant responded with its own new duties, including an additional 25% tariff on vehicles made in the U.S. That move will impact not only products from Detroit manufacturers such as Ford and General Motors but also European carmakers with U.S. assembly operations such as Mercedes’ parent Daimler AG.

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According to the Chinese, two Mercedes models, GLE and GLS SUVs produced between May 4 and June 12 of this year, are being help up at the port in Shanghai due what customs authorities have described as a “safety risk.” (more…)

Tesla Stock Tumbles Hard as Questions Mount About Proposal to Go Private

Investors are “raising a lot of sensible questions,” while the SEC also begins sniffing around.

by on Aug.09, 2018

Investors -- along with the SEC -- are raising concerns about CEO Musk's proposal to take Tesla private.

Barely two days after euphoric investors started snapping up Tesla stock, buoyed by a tweet from CEO Elon Musk suggesting the company was ready to go private, gravity has set in. After nearing an all-time record, Tesla’s share price settling back to barely above where it started.

While the battery-carmaker’s board – along with at least one major investor — has cautiously backed the idea, saying it will now explore the idea of taking Tesla private, there appear to be more questions than answers. One of the uncertainties is how the SEC is viewing what happened this week, the federal agency set to take a close look at Musk’s suggestion that “Funding (is) secured” to make the transition once Tesla stock hit $420 a share.

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That number was certainly a big jump from where TSLA shares began the day on Tuesday, just over $340 a share. By the end of the day it had rocketed close to Tesla’s record closing of $389.61. But concerns were apparent almost immediately with some analysts pointing, among other things, to the “420” in Musk’s tweet, a number more often used as slang for marijuana.

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SEC Amps Up Investigation of Tesla After Musk’s Buyout Tweet

Moving to "Private" mode.

by on Aug.09, 2018

Tesla CEO Elon Musk's tweets about taking the company private and having the funding to do it has the SEC's attention.

The Securities and Exchange Commission is ramping up its investigation of Tesla Inc. in light of CEO Elon Musk’s recent tweets about taking the company private at $420 a share.

More precisely, they are interested in his assertion that he already has the funding in place. According to a Bloomberg report, the SEC’s San Francisco office was already investigating the company and the recent round of tweets escalated its interest.

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Though it is not illegal for company officials to use to promote Tesla, talking about potential buyout prices and issuing other proclamations that could artificially alter the California-based EV maker’s stock price could be reason for an investigation and ultimately charges. (more…)

More Japanese Companies Guilty of Falsifying Emissions Tests

Suzuki, Mazda and Yamaha latest offenders.

by on Aug.09, 2018

Suzuki's Toshihiro Suzuki apologized to customers after it was discovered the company certified emissions tests on vehicles that actually failed.

Three more Japanese automakers admitted to using falsified emissions data to inspect their new vehicles after a government-ordered review of procedures by the automotive and motorcycle industries.

Suzuki Motor Corp., Mazda Motor Corp. and Yamaha Motor Co. each told Japan’s Transport Ministry they certified products after they’d failed emissions tests. They follow Nissan Motor Co. and Subaru Corp. in admitting to the improper inspections.

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Japan’s transport ministry ordered 23 Japanese auto and motorbike manufacturers to examine their inspection procedures in July following similar mistakes made by other companies at final product quality checks. (more…)

Ford Preparing Hybrid Version of Mustang

New powertrain will be about performance, not fuel economy.

by on Aug.09, 2018

Ford EVP Jim Farley took time during the celebration of the 10 millionth Mustang to discuss the evolution of the Mustang, including the upcoming hybrid model.

Ford Motor Co. is eager to keep the buzz around the Mustang alive as the company makes the transition to a world where autonomous and electrified vehicles are common, one of the company’s top executives told reporters after the automaker marked the production of the 10 millionth Mustang.

Jim Farley, executive vice president and president of Global Markets, said the long-running success of the Mustang, which has become a global brand, can serve as a beacon for the company as it goes through what amounts to once-every-100-years transition.

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“Mustang is the heart and soul of the Ford Motors Co. It’s a global product and it’s one of the reasons we’re different as a company.” Farley said. “It inspires other vehicles in the line-up. The ‘Mustangness’ of the company is starting with its products,” such the electric vehicles Ford has under development now. “The company has confidence in the Mustang and it knows the customer really well. (more…)

Tesla Board Backs Consideration of Musk’s Privatization Plan

Six board members willing to look further at the plan.

by on Aug.08, 2018

Tesla's Elon Musk appears to have the support of the board of directors for his privatization plans.

Just a day after telling Tesla employees, and later the world via Twitter, that he wants to take the EV maker private, CEO Elon Musk appears to be getting support from his board of directors.

Six board members issued a statemen saying they were considering his proposal and that they’d met with him previously to explore the strategy, including “discussion as to how being private could better serve Tesla’s long-term interests.”

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Two other the board members, Kimball Musk, Elon’s brother, and Steve Jurvetson, a venture capitalist, were not part of the statement. Members of the board who signed the statement were Brad Buss, Robyn Denholm, Ira Ehrenpreis, Antonio Gracias, Linda Johnson Rice and James Murdoch. (more…)

Ford Celebrates Production of 10 Millionth Mustang

Just like the first one, it came out Wimbledon White.

by on Aug.08, 2018

Ford marked the production of the 10 millionth Mustang with a huge party, including the very first Mustang built. Both are in Wimbledon White.

Ford Motor Co. celebrated the building of 10 million Mustangs in style with a parade, air show and lunch for hundreds at the assembly plant outside Detroit in Flat Rock, Michigan, where the fabled pony car is now built.

A parade of 54 Mustangs, one from each year the car has been sold during the past half century since it debuted at the 1964 World’s Fair in New York City was organized in the parking lot in front of Ford World Headquarters in Dearborn, Michigan.

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As the Mustang owners sipped coffee and munched on donuts, they talked about how much their lives intertwined with the car and its storied history that includes a starring role in more movies than any other vehicle. (more…)

Ford Treks into New Territory With New China-Built Ute

New SUV to help revive sales in China.

by on Aug.08, 2018

Ford's new entry-level sport-utility, the Territory, is the first of a wave of 50 new or redesigned products coming to China between now and 2025.

Ford Motor Co. has been perpetually behind when it comes to selling vehicles in China. Last year’s results were bad and with 2018 shaping up to be worse, the automaker is looking to move into new territory in 2019 with its new Territory SUV.

The entry-level ute is the first in a slew of new products the automaker expects will cut its double-digit monthly sales losses. In all, the company plans to introduce 50 new or redesigned vehicles in China between now and 2025.

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The SUV, which is expected to be start at just under $22K, is part of an extremely popular segment in China. It’s a segment in which Ford has been a nonfactor until now. (more…)

Tesla CEO Musk Lays Out Plan to Take EV Maker Private

SpaceX appears to be the blueprint.

by on Aug.07, 2018

Tesla CEO Elon Musk wants to take the EV maker private — at $420 a share.

Sometimes Tesla founder and CEO Elon Musk means what he tweets — in this case, taking the company private at $420 a share.

Earlier today, Musk hopped on telling his millions of followers, “Am considering taking Tesla private at $420 a share. Funding secured.”

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That set off two flurries. One a thread of tweets about everything from what a great idea it is to how followers love marijuana references to how the Securities and Exchange Commission frown on these sorts of pronouncements. (more…)