Michael Strong | TheDetroitBureau.com - Part 2- htxurl.info

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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…)

NHTSA Investigating Ford F-150 Seat Belt Fires

Five complaints filed, but no recall issued yet.

by on Aug.07, 2018

NHTSA is investigating a series of fires involving the truck's seat belts.

The National Highway Traffic Safety Administration is exploring complaints about fires occurring in 2015–18 model year Ford F-150 pickup trucks. The fires may have been caused by the truck’s seat belts.

Ford officials say they are cooperating with the query involving more than 2 million trucks. A Ford spokeswoman said the automaker takes “the safety of our customers very seriously. We are investigating the matter and will cooperate with the agency, as we always do.”

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No recall has been ordered yet. (more…)

Trade Officials Say New NAFTA Could be Done by End of August

Talks are moving along with some urgency.

by on Aug.06, 2018

Chrystia Freeland, Canada's top NAFTA negotiator, said the talks between Mexico and the U.S. aren't exclusionary, but necessary.

Canadian trade officials renewed their desires to get a quicker resolution to the long-negotiated North American Free Trade Agreement between Canada, Mexico and the United States.

Initially expected to take less than six months, the talks are closing in on one year in length but have been often delayed by demands from the Trump administration — mandates the trading partners have been unwilling to meet.

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However, with the latest delay in the rearview mirror, Mexico’s presidential election in early July, the three sides have been hurriedly talking to get the deal done. (more…)

GM Pushing to Get Tariff Exclusion for China-Made Envision SUV

If successful, it would eliminate a 25% price hike.

by on Aug.03, 2018

The Buick Envision is caught in the new tariff wars as its built in China and sold in the U.S.

The tariffs implemented by the Trump administration on China are having a negative impact on several American companies, specifically General Motors. However, the company is looking to find a way around them.

GM’s Buick Envision is built in China and, as such, is subject to hefty levy when entering the country, but the company is in talks with Trump’s trade representatives to get an exemption on the popular midsize sport-utility that accounts for nearly 20% of the brand’s U.S. sales.

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GM said in a statement that it filed the request on July 30 with the U.S. Trade Representative. An official notice was posted on Thursday on the regulations.gov website, which is tracking requests for exclusions from the so-called Section 301 tariff on certain imported goods from China, according to Reuters. (more…)

Toyota Motor Reports Increased Q1 Profits

Strong sales in U.S. and cost-cutting efforts pave way to profits.

by on Aug.03, 2018

Toyota's Masayoshi Shirayanagi noted that increased trade tensions and U.S. tariffs will eat into Toyota's bottom line.

Toyota Motor Corp. rode a wave of increased sales and decreased costs to a 7.2% increase in net income in its fiscal first quarter of 2018. Revenues also increased 4.5% during the quarter.

The company also announced it was ending its partnership with Isuzu Motor Ltd. The companies built diesel engines, but with oil burners falling out of favor, replaced by EVs and potentially fuel cells down the road, the two sides will split.

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Toyota owns a 5.89% stake in Isuzu. (more…)

Tesla’s Looking to Hire Designers — Video Game Designers

CEO Musk tweeted that V9.0 will have some Atari video games in it.

by on Aug.02, 2018

Tesla CEO Elon Musk took to Twitter to recruit new hires to the company: video game designers.

Tesla CEO Elon Musk is certainly known for his unconventional approach to his businesses, as well as his proclivity for espousing his ideas about them on Twitter.

Those two things met again recently when Musk put out a call to video game designers.

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“If you’re into video game development, consider applying to Tesla,” Musk tweeted Wednesday. “We want to make super fun games that integrate the center touchscreen, phone & car [in real life].” (more…)

Fiat Chrysler Recalls 1.4 Million Ram Pickups

Company says tailgates can fly open for no reason.

by on Aug.02, 2018

Fiat Chrysler is recalling more than 1.4 million Ram pickups due to a tailgate lock problem.

Fiat Chrysler is recalling more than 1.1 million Ram pickups in the U.S. to repair the locks on their tailgates that could allow the door to fly open while the truck is being driven.

The company issued a recall to fix the power-locking mechanisms in the tailgates of certain trucks. The recall affects certain Ram 1500, 2500 and 3500 pickup trucks from the 2015 through 2017 model years with 5-foot 7-inch and 6-foot 4-inch cargo beds.

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Pickups with manual tailgate locks and trucks with 8-foot cargo beds are not affected. The recently redesigned 2019 Ram is also not affected. Engineers installed a different system for that model. The company said it had not identified any injuries or accidents connected to the defect. (more…)

DOT Rolls Back Fuel Economy Mandates to Current Levels

Agency claims new rules will save drivers more than $2,300.

by on Aug.02, 2018

Transportation Secretary Elaine Chao unveiled the SAFE vehicles rule, rolling back Corporate Average Fuel Economy levels to current levels.

The Department of Transportation today revealed its intention to rollback Corporate Average Fuel Economy standards, calling the new plan the Safer Affordable Fuel-Efficient Vehicles Rule, or SAFE rule.

The plan calls for fuel economy levels for vehicles built in model years 2020–26 to remain at the current fuel economy standard. The previous mandate called for vehicles to average 54.5 mpg by 2025.

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DOT is seeking public comment for the next 60 days on what could be the next standard for fuel economy. The centerpiece of the EPA/NHTSA CAFE rollback is the claim that the agencies’ preferred option would save consumers $2,340 per vehicle, compared with keeping the old standard. (more…)

Tesla Q2 Losses Double, But Profits Promised in Q3

Investors happy to see capex spend drop, stock jumps nearly 5%.

by on Aug.01, 2018

Tesla CEO delivered enough positives in the second quarter to excite investors. The company's stock rose 5% in after hours trading.

Tesla Inc.’s mad dash efforts to meet its ever-shifting production quotas didn’t result in a narrowing of financial losses for Q2, not that CEO Elon Musk implied that. However, the end result was a doubling of losses on a year-over-year basis.

In the second quarter of 2018, Tesla’s automotive business saw revenue rise to $3.1 billion compared with $2 billion for the same period last year; however, losses jumped to $717.5 million, or $4.22 a share, from $336.4 million, or $2.04 a share.

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However, the letter produced to explain the quarterly results suggests that only good times are on the horizon despite the company missing analyst expectations for losses this quarter. Ultimately, shareholders were pleased with the results as the stock jumped nearly 5% after hours on the news.  (more…)