It’s nowhere near the scale of the Volkswagen debacle, but Nissan is in hot water with the South Korean government over dodgy emissions from its diesel SUV.
Yesterday’s news that Nissan will buy a 34-percent controlling stake in Mitsubishi for $2.2 billion was the latest win for Carlos Ghosn, the man behind the Renault-Nissan Alliance of 1999 and possessor of many fingers in many pies.
Ghosn, CEO of both Nissan and Renault, inked the agreement with Mitsubishi as the other automaker battles a misleading gas-mileage scandal. At a price of 468.52 yen/share, Ghosn’s purchase of new shares was a smoking deal. Mitsubishi shares traded for 1,100 yen just last December.
What becomes of the two companies now? And how will Ghosn’s world-straddling empire benefit by snapping up beleaguered Mitsubishi? Read More >
There’s probably no s’mores or ghost stories, but Tesla founder Elon Musk is still a fan of camping out at his company’s Fremont, California production facility.
Musk admitted to giving his sleeping bag a regular workout during a recent earnings call, during which he outlined his production goals for the upcoming Model 3. The optimistic deadline of July 1, 2017 is now viewed as impossible (due to supply issues), but Musk is optimistic that significant quantities of the $35,000 EV will be out the door before New Year’s Eve.
Musk might need to splurge on an upgraded sleeping bag next summer. 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 >
A day after its head office was raided by Japanese Transport Ministry officials, the U.S. is going to put Mitsubishi’s mileage claims under scrutiny.
The scandal began when Mitsubishi admitted it overstated fuel economy numbers on its Japanese market eK mini wagons, but Reuters is now claiming the false data extends to U.S. market vehicles. Read More >
Buick’s turbocharged, Chinese-made Envision crossover is landing on American shores in early summer, but the price could cause some buyers to rethink their purchase date.
Holding the title of being the first U.S. model manufactured in China, the Envision is already a two-year veteran of the overseas market. Americans are notoriously SUV-thirsty, so it was inevitable that the Envision would make its way here, loaded with a high level of standard equipment.
The starting MSRP for the 2016 Envision is $42,995 (all charges included), a figure that tops the range-leading Enclave, which starts at $39,065 (minus freight, destination and fees). Read More >
The Beijing Motor Show begins next week, but Buick couldn’t wait a minute longer.
At yesterday’s 2016 Buick Day event in Shanghai (was there a parade?), the automaker rolled out its LaCrosse Hybrid Electric Vehicle (HEV), a model tailor-made for the Chinese market.
China loves Buicks, and Buick loves them right back, so much so that the U.S. will get a Chinese-made model this fall. The LaCrosse HEV is part of General Motors’ plan to foist as many vehicles on China as possible. 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 >
If there’s about $450,000 burning a hole in your pocket, Ford wants you to get in line for the new GT.
The application process for the 2017 and 2018 model years of the carbon fiber supercar kicked off today, and along with it, a very selective customer screening process.
Ford will sell a limited number of GTs each year, produced by Canadian firm Multimatic, so it could be a long wait if you don’t make the cut this time around. Ford anticipates first deliveries will begin late this year, with applications ending on May 12. Oh, and Russia? You can’t order a Ford GT, unless you have a friend buy it for you in an eligible country — like, say, China.
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.