Archive for the ‘Automakers’ Category

Aston Martin Sketches Out its Future With Supercar Design Tease, IPO Plans

British marque hopes to repeat Ferrari’s success.

by on Sep.21, 2018

Aston has released a preliminary sketch of its third hypercar, the 003, which it hopes to have in production in 2021.

Aston Martin, the carmaker best known for its relationship with cinema spy 007, has laid out key details of its upcoming IPO while also releasing a preliminary sketch of the hypercar it’s calling 003 that it hopes will drive some of its future success.

Spun off by Ford Motor Co. in 2007, Aston struggled to avoid an eighth bankruptcy during the depths of the Great Recession, but its fortunes have skyrocketed over the last few years, a period coinciding with the arrival of CEO Andy Palmer and the subsequent commitment of hundreds of millions of dollars in new capital from its key investors.

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The IPO will go off next month on the London Stock Exchange, Palmer announced, declaring that it “will provide investors with a fitting opportunity to participate in our future success.”

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Tesla Losing Top Executives as Uncertainty Sets In

Four top leaders have departed in last month.

by on Sep.21, 2018

Four of Tesla's top executives have departed the company during the last four to six weeks.

Tesla’s been hit by wave after wave of difficult news, situations and investigations, apparently causing some executives to rethink the viability of the company.

Liam O’Connor, Tesla’s vice president of global supply management, is the latest of a group of executives to depart the company. He joined Tesla in 2015 after a four-year run with Apple, Bloomberg reports an unnamed insider said O’Connor is leaving the company within the next several weeks.

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His departure marks at least the fourth executive to leave California-based EV maker within the last month. Justin McAnear, vice president of worldwide finance and operation; Gabrielle Toledano, human resources chief; and Dave Morton, chief accounting officer, have also put in their notices. In all, more than 40 executives have reportedly left Tesla in 2018 alone, the news service reports. (more…)

Nissan Betting on Sedan Comeback

Young buyers “don’t want daddy’s” SUV, automaker bets.

by on Sep.21, 2018

Nissan has made a heavy investment - and numerous changes -- aiming to increase the appeal of its sixth-gen 2019 Altima sedan.

While some automakers are paring back, and even dropping out, of the sedan market, Nissan is betting big with the launch of the sixth-generation Altima that will roll into U.S. showrooms in the coming month.

While the automaker isn’t revealing precisely what it spent, Bruce Pillard, the marketing manager for the 2019 Altima, said the new version of the midsize sedan marks “one of the highest investments in the history of Nissan.” That includes an entirely new platform, the first-ever all-wheel-drive system for the Altima, and the Nissan brand’s first use of the breakthrough VC-Turbo engine. That’s in sharp contract with rival Ford Motor Co., which is set to phase out its own midsize sedan, the Fusion, along with the rest of its U.S. four-door line-up.

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“The future is bright” for sedans, Pillard declared, ahead of a media drive of the 2019 Nissan Altima in Santa Barbara this week, countering what has become conventional wisdom that sedans are all but doomed as motorists by the millions migrate to SUVs and CUVs.

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Nissan Recalls 240K Vehicles for Potential Fire Problem

Action covers cars and utility vehicles.

by on Sep.21, 2018

Nissan's 2017 and 2018 Pathfinders are part of a recall of 240,000 vehicles due to possible fire hazard.

Nissan announced it is recalling nearly 240,000 cars and SUVs worldwide – 215K in the U.S. – because of a fire risk. The Japanese automaker is also recommending vehicle owners park the vehicles outdoors in some cases.

According to the automaker, due to faulty seals on the anti-lock brake pump, brake fluid can leak onto a circuit board, causing an electrical short and increasing the fire risk. Should an owner see the anti-lock brake warning light for more than 10 seconds after starting the engine, Nissan recommends not driving the vehicle and to park it outdoors away from homes and other structures or vehicles.

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The recall covers certain 2015 to 2017 Nissan Murano, 2016 and 2017 Nissan Maxima, 2017 through 2018 Nissan Pathfinder and 2017 Infiniti QX60 vehicles. (more…)

Subaru Ascending Toward Another Annual Sales Record

New three-row ute pushing company toward another benchmark.

by on Sep.21, 2018

Subaru is set to set a seventh consecutive annual sales record due to the new Ascent.

Subaru is confident it can lock in its seventh consecutive year of sales gains thanks to promising launch of the Ascent, a three-row sport-utility vehicle that has emerged as the Japanese automaker’s flagship since its debut earlier this summer.

Dominic Infante, Subaru’s director of communication, noted during a presentation in North Carolina for the first drive of the 2019 Subaru Forester, which is due in showrooms that through August, Subaru has posted 81 consecutive months of sales gains.

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The Ascent has been a great success out of the gate, Infante noted. Subaru hasn’t been able to build them fast enough to satisfy demand. The Ascent is built at the Subaru assembly plant in Indiana and Infante said that Subaru has only 12 days of Ascent inventory in the hands of dealers. (more…)

New Vehicle Costs On the Rise as Insurance Premiums Skyrocket

Know what it'll cost to insure your vehicle before you buy.

by on Sep.20, 2018

The Tesla Model S is the most expensive mainstream vehicle to insure, according to a new report.

Car insurance premiums are rising quickly, and when interest rates are also climbing, new vehicle buyers have a lot to consider when determining what kind of car they can afford.

The average monthly car payment is more than $500 now and insurance rates have jumped by more than a third between 2010 and 2016, according to the Insurance Institute for Highway Safety. Finding ways to cut those burdensome premiums should be a top priority for shoppers.

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How much you pay for car insurance depends on a variety of factors, including age, driving record and location as well as the type of vehicle you want to buy. (more…)

Jackson Stepping Down as AutoNation CEO

Former Mercedes-Benz USA president remains executive chair until 2021.

by on Sep.20, 2018

AutoNation CEO Mike Jackson is stepping down from the post next spring.

The auto industry is going to be a little less colorful in the near future as AutoNation’s Mike Jackson is stepping down as Chief Executive Officer next year; however, he will remain executive chairman until 2021.

“AutoNation is the retail automotive industry leader,” Jackson said in a statement. “The company is ready for its next chapter with a strong foundation, a coast to coast brand, a comprehensive Brand Extension strategy, and a transformational digital consumer car buying experience.”

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Jackson is one of the industry’s most outspoken figures, often a go-to executive for reporters looking for an expert perspective on almost any industry topic. He took over as AutoNation CEO in 1999, hired by founder H. Wayne Huizenga from Mercedes-Benz USA where was president. (more…)

Nvidia Unveils Plans for Higher Powered Processor

New model aimed at working seamlessly with AI-based technologies.

by on Sep.20, 2018

Nvidia CEO Jensen Huang revealed the company's latest processor that will enable more AI-oriented tech.

High-flying Nvidia has emerged during the past decades as one of the auto industry’s key suppliers of advanced technology and is now working on developing the technology needed for the development of self-driving vehicles.

Jensen Huang, chief executive officer of Nvidia, one of the Silicon Valley firms eager to promote self-driving vehicles, said his company has developed a new processor that uses artificial intelligence to carry out its assigned tasks.

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Huang said Nvidia AGX, a series of embedded AI high-performance computers built around Nvidia Xavier, is now the world’s first processor designed for autonomous machines. (more…)

Cadillac Expanding V-Series – Even as it Drops ATS-V, CTS-V Models

Performance models have “sparked new life.”

by on Sep.20, 2018

Even as it cuts its performance sedans, Cadillac is likely adding replacements, like a CT6-V.

High-performance models have become an essential part of a luxury brand’s line-up, as the BMW M, Mercedes-AMG and Audi S and RS models clearly demonstrate. So, it should be no surprise to see that Cadillac wants to play in the performance segment, as well.

General Motors’ luxury brand plans to expand the availability of its V-Series, Caddy now says, and that will be marked with the arrival of the new CT6-V version of its flagship sedan next spring. That said, two current V-Series models will soon be going away, Cadillac pulling the plug on both the ATS-V and CTS-V in the near future.

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“Beginning with the debut of the CTS-V Sedan in 2004, the V-Series sub-brand sparked new life into Cadillac,” GM’s product development chief Mark Reuss said in a statement. “As a result of the overwhelming response the CT6 V-Sport received when revealed in early 2018, we’ve decided to formally make it a V-Series, signaling the expansion of V-Series.” (more…)

Daimler Invests Millions in Electric Busmaker Proterra

U.S.-based company expands Daimler's battery-electric capabilities.

by on Sep.20, 2018

Daimler Truck has invested millions in California-based electric busmaker Proterra to help with its battery-electric development.

Daimler Trucks & Buses agreed to put up part of a $155 million investment in an electric bus company founded and based in the United States.

Proterra Inc., with offices in California’s Silicon Valley, South Carolina and Los Angeles, announced it closed a $155 million investment round co-led by Daimler, the world’s largest manufacturer of commercial vehicles, and Tao Capital Partners.

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Martin Daum, member of the Board of Management of Daimler AG with responsibility for Daimler Trucks & Buses, noted Proterra has emerged as a leader in the electric-bus business with more than 90 customers across the United States. (more…)