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Yesterday’s vague Japanese media reports proved right this morning, as Nissan Motor Co. announced it will purchase a 34 percent controlling stake in scandal-plagued Mitsubishi Motors.
Taking advantage of Mitsubishi’s reduced market value following the company’s admission of cheating on Japanese fuel economy tests, Nissan’s 237 billion yen ($2.2 billion) bulk buy of shares makes it the automaker’s largest shareholder.
It’s a big win for Nissan, which can take credit for exposing the gas mileage scandal less than a month ago. Read More >
They’re on a little break right now, but Volkswagen plans to saunter back to America’s door, flowers and chocolates in hand.
As the diesel emissions scandal plods along to its buyback conclusion, the automaker plans to woo U.S. buyers with desirable products and a less confusing brand strategy, Automotive News reports.
Volkswagen brand chief Herbert Diess told reporters in Germany last week that the U.S. was still a target market primed for growth, but first the company must convince those buyers that it has changed its ways, and that it’s ready for commitment. Read More >
The Jeep brand is Fiat-Chrysler’s biggest money maker, so it’s no wonder that CEO Sergio Marchionne is scattering factories around the world like a sailor’s offspring.
The company’s head honcho outlined his business plan for the brand in an interview published by Automotive News, and it involves no longer having to make a “Sophie’s Choice” decision with Jeep output. Read More >
No matter who you are or what status you hold in society, at some point in the past 34 years you did something in a Chevrolet Cavalier, and it was probably a lackluster experience (barring anything in the backseat, though even then…).
For reasons unknown, the nameplate that once summed up everything that was wrong with domestic compacts will return to the automotive landscape on a China-only Chevrolet model, GMInsideNews reports. Read More >
Honda’s Chinese subsidiary is proud of the upcoming Acura CDX compact SUV, as it’s the first Acura designed for, and built in, that expanding car market.
Based on the Honda HR-V, the CDX tries to erase all signs of its body donor’s identity. Among other things, the new model adds shapelier flanks, conventional rear door handles, Acura’s new corporate diamond grille, and taillights that align with the brand. Read More >
There’s happy faces inside the Renaissance Center today.
General Motors saw its first-quarter pretax profit rise 28 percent, despite continuing trouble in foreign markets, Automotive News has reported.
A net income of $1.95 billion means investors will reap $32.66 a share, a 1.5 percent increase. Revenue was up four percent in the first quarter, at $37.27 billion. Read More >
China’s thirst for American executive sedans knows no bounds, so Lincoln is rubbing its palms together and giving the red-hot luxury market exactly what it wants: piles and piles of prestige.
The Continental nameplate is already soaked in presidential history, but for the Chinese market, the company’s flagship model needed something a little more…obvious. These images from China’s Autohome (via Carscoops) reveals Lincoln’s elegant solution — the addition of a “Presidential” badge to the sedan’s rear. Read More >
After partnering with the Russian company Sollers for the past five years and investing more than $1 billion into car and engine factories, Ford Motor Company is betting on a Russian rebound and still sees the beleaguered country as a long-term play.
Amid GM’s retreat from Russia, Ford stuck to its game plan by spending cash on new models and plants in that country, presumably to avoid a catch-up situation similar to the one it faced in China. According to Automotive News, the commitment paid off in the first quarter of 2016, sending sales up by 93 percent in a market that saw a 17 percent decline over the same period. Read More >
It’s a bit like Scooby-Doo meets A Clockwork Orange.
Graduate students at Clemson University’s International Center for Automotive Research (CU-ICAR) spent two years working with Toyota to create the ideal vehicle for the next age demographic to leap into the car-buying fray: Generation Z.
No, we’re not talking about some stodgy Millennial born in 1985, with his cardigans and Dodge Journey. Generation Z refers to the cohort born in the late 1990s (at the earliest) onward, and these are the people automakers are going to start targeting right … about … now.
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There are a lot of unhappy union executives in South Korea today after General Motors announced it won’t green light Chevrolet Impala production in the surging Asian market.
The model will continue to be imported from GM’s Hamtramck assembly plant, despite the popularity it has shown since going on sale in September of last year.
The union representing the bulk of GM Korea’s 17,000 workers isn’t taking the news lying down, saying the move threatens the existence of the company itself. Ko Nam-seok, leader of the GM Korea branch of the Korean Metal Workers Union, is expected to pan the decision in a meeting with GM CEO Mary Barra later this month.
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