Volkswagen has spent over two years trying to block the publication of a research paper which reveals a key hacking vulnerability in many of their models as well as thousands from other manufacturers. According to Bloomberg, a team of researchers discovered the vulnerability in 2012 and notified Volkswagen in May 2013. Instead of working with the researchers to resolve the issue, Volkswagen argued that the paper would increase the risk of theft and sued them to stop the publication. Read More >
Automakers have collectively spent tens of billions of dollars trying to concoct
schemes sales campaigns that make consumers perpetual debtors instead of long-terms owners.
$129 a month. 0-percent financing. Move the decimal point here and the first payment there. Sprinkle a healthy amount of small print, toss in some advertising that pushes the right buttons, and keep driving down credit standards to the point where you maximize your long-term profits.
It takes the right financial recipe — and an awful lot of money — to keep any automaker in the black. The mathematical truth of the auto industry is that automakers can’t do anyone any favors, anywhere, if they don’t successfully cater to a healthy audience that embraces debt as a long-term financial proposition.
So with that said, how should automakers cater to the keepers among us? Those new car shoppers who buy once, and then try to keep their cars until they are often times worth more dead than alive?
At the conclusion of this year’s Pikes Peak International Hill Climb, Mercedes-Benz issued a release claiming a new record: the Mercedes-Benz C250d 4MATIC was the fastest production diesel to ever make it from base camp to summit. Driven by Uwe Nittel, the compression-ignition, tri-star sedan navigated the mountain’s 156 corners in 11 minutes 22 seconds.
Since the manufacturer-favorite Nürburgring has imposed speed restrictions at certain high speed sections and outright banned hot lap record attempts, a new battleground is needed.
Will that frontline be in Colorado?
Among the first to come to Brazil when the market was opened up again in the 1990s – after a hiatus of almost 50 years when this country closed itself off to the world – Renault has seemingly reached a limit in Brazil. Its market participation has hovered around 6 percent for years. Now, hungry for more, the French company is showing its new plans that will deeply affect their operations in Latin America at large and shake up their manufacturing base in South America, most especially Mercosur (namely Brazil and Argentina).
Kansas City’s KCTV reported this week on an attempt to repair a 2012 Missouri state law that has led to a dramatic increase in car thefts. The law, which allows people to sell vehicles 10 years or older without a title, was originally intended to help rural property owners dispose of derelict vehicles and outdated machinery that would otherwise be left to rot. Criminals, however, soon discovered that they could scoop up virtually any vehicle that met the standard and sell it to scrap yards for a tidy profit. Read More >
In an unprecedented move that has sent chills down the white-belted spines of American car dealers, General Motors has declared nearly 1,000 of its 4,355 US retailers as “unfit and downright dangerous” to its customers and will be recalled immediately.
I’ve been on the road for the last few weeks and one of the places I was able to visit was the Smithsonian Institution’s Udvar-Hazy Center at Dulles International Airport located just outside of Washington DC. Unlike the National Air and Space Museum located on the national mall close to the capitol building, the Udvar-Hazy Center is an enormous facility and although I have visited other aircraft museums that have had larger collections on display, I think it is safe to say that the Smithsonian’s collection is second to none. The aircraft on display span the history of flight and include both military and civilian examples. More importantly, at least for the sake of this discussion, they come from every corner of the globe and as they sit there, lined up beside one another, it’s easy to compare the craftsmanship of one nation’s products against the next.
Back in 2004, perfectionist homemaker and well known TV personality Martha Stewart was charged with insider trading. As presented, the facts in the case were simple. Martha owned stock in a medical research company called ImClone and, like a lot of people who invest in tech firms, she was hoping for a big payout when their product, a promising new cancer treatment, went on the market. Unfortunately, the FDA chose not to approve the drug and the value of the stock looked set to take a beating once the decision was announced. According to the charges initially brought against her, Martha and many of the company’s top executives learned of the FDA’s decision though their inside connections the day before it was publicly announced and were able to sell their shares before they crashed. That’s against the law and many of the people caught up in the scandal, including Martha who was convicted on the charge of making false claims to a federal investigator, ended up going to jail. Read More >
Twenty years ago, as a young Merchant Mariner, I was sent to Japan where the ship I was assigned to, the Sea-Land Spirit, was undergoing a major refit. The ship had begun life as a LASH ship, a vessel that carried cargo-filled barges which it offloaded from its stern via huge, rail mounted cranes that ran on tracks down the length of its deck, and now, after the demise of that business model, it was being converted it into a container ship.
Prior to the refit, the ship had been virtually abandoned, left to rot in some bayside backwater for many years, and it had taken a pounding from the elements. To get it back into service, the ship was towed to Korea where it underwent most of the major modifications, after which it was then taken to the giant Mitsubishi works in Kobe, Japan for the final touches. It was there, so I was told, that Japanese laborers called into question the quality of the Korean’s work. Some of the massive steel braces that had been welded to the deck, they found, were as much as a centimeter off. Shocked by the poor quality of their counterparts’ work, the Japanese shipyard workers cut the braces off the deck, moved them a fraction of an inch and welded them down again. Read More >
Tesla has fired back against the accusations brought in a lawsuit filed against the company earlier this week by a Wisconsin attorney and self-described “Lemon law King” Vince Megna. Mr. Megna’s client, a physician who took delivery of his Model S in March of last year, alleges that he has had repeated problems with the car’s doors and main fuse and that repeated attempts to remedy the problem have met with no success. He is asking that, after four attempts at resolving the issues, the company re-purchase the car under Wisconsin lemon laws intended to protect buyers if a product is faulty and cannot be repaired by the manufacturer. Read More >