Category: Global

By on January 28, 2016

2016 NAIAS Ford Stand

Ford announced Thursday that it had earned a record pre-tax profit of $10.8 billion for 2015 — including $2 billion in the fourth quarter — bolstered by pickup sales in the U.S. and strong growth in China.

The record-setting year for the automaker wasn’t much of a surprise — second- and third-quarter results set records along the way — but Ford’s ability to finally turn a profit in Europe may be the most unexpected news. The automaker had lost money in Europe since 2011.

Latin America, notably Brazil, will continue to be a sore spot for Ford and other automakers. Ford said Thursday it expects to lose more money there in 2016 than the $832 million it lost there in 2015.

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By on January 27, 2016

FCA_Location_1_Torino_Lingotto_high

Fiat Chrysler Automobiles CEO Sergio Marchionne on Wednesday said the automaker would rely more heavily on profitable Jeeps and Rams in North America and Europe to help its business remain profitable in other sagging areas and regions.

“We are not of the view that this industry is facing an impending demise,” Marchionne said before announcing FCA’s adjusted earnings of $1.78 billion in the fourth quarter.

Marchionne and CFO Richard Palmer said Jeep’s success in North America and Europe led the company last year and would be the “bedrock” for the automaker’s future. The automaker laid out specific plans to bring forward a Jeep pickup and Wagoneer, and let wither less-profitable models such as the Chrysler 200 and Dodge Dart. Read More >

By on January 26, 2016

Jeep-Renegade-19

On Wednesday, Fiat Chrysler Automobiles CEO Sergio Marchionne will update investors on his long-term plans and fourth-quarter profits — namely, how many Jeeps it sold — during his scheduled earnings conference call.

It’s widely expected that Sergio will address the near-certainty that Jeep will build a pickup based on the Wrangler, as well as the future for the Jeep Compass that’ll likely survive from the Patriot/Compass twin billing, and Jeep’s potential to keep afloat fledgling FCA brands such as Maserati and Alfa Romeo.

Analysts say FCA’s ambitious target of $5 billion profit by 2018 would be almost unattainable at this point.

“‘Ambitious’ is not really an adequate word to describe it, ‘fantasyland’ might be more appropriate,” Bernstein’s Max Warburton told Automotive News.

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By on January 26, 2016

Borgward

Last year, we told you about defunct Borgward rising from the ashes to sell in Germany and China a Porsche-Buick three-row lovechild starting in 2017.

Now it appears that the automaker with a name that only the Swedish Chef from “The Muppets” could love has something else to show in Geneva.

The automaker announced Tuesday that it had “more than a world premiere” scheduled for Feb. 29 ahead of the Geneva International Motor Show.  Read More >

By on January 25, 2016

ford-headquarters

The big Blue Oval is setting in the Land of the Rising Sun.

That, Volkswagen’s labor boss doesn’t like what he hears, Detroit’s big show and Kia’s big plans for the Rio … after the break! Read More >

By on January 24, 2016

Cadillac China

China’s finance minister said Saturday that the government will end green car subsidies by 2021 and let its market dictate whether EVs or plug-in hybrid can sell on their own in the country, Reuters reported.

Lou Jiwei told reporters that the government would cut subsidies by 20 percent over the next two years, by 40 percent before 2020 and eventually end subsidies altogether by 2021, according to the report.

China surpassed the U.S. last year in electric car sales, in part because of the government’s aggressive support. Few electric cars made in China are available outside the country, however its expected that Cadillac will build in China and sell in the U.S. a plug-in version of its CT6 sedan.

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By on January 23, 2016

Signing ceremony for VW’s Foshan plant in China. Picture courtesy Volkswagen AG

Volkswagen’s chief in China says they’re probably not retaking the crown from General Motors there anytime soon.

That, Apple’s lead car guy is gone, Takata’s in trouble and more … after the break!

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By on January 19, 2016

Buick Avista NAIAS

Last week, Opel teased its upcoming GT Concept by saying: “You will see Opel with a fresh pair of eyes.”

That’s just lovely.

But let’s take a step back, look at General Motors’ Alpha platform with a fresh pair of eyes and wonder aloud together: Is it all Alpha from here on out?

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By on January 16, 2016

Recalled GM ignition switch

The man in the middle of GM’s faulty ignition switch has finally spoken, and the word “mistake” came up at least twice.

That, does anyone have the number for Google, GM and Honda may join forces, and take a cab … after the break!

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By on January 15, 2016

ford-headquarters

Ford will announce plans early this year to build a new plant in Mexico, Reuters reported Thursday. The $1.5 billion plant will produce 350,000 cars annually and could eventually produce the new Focus after production of that car leaves Ford’s Wayne, Michigan plant in 2018.

Ford didn’t comment on the report.

Reuters said Mexican officials with knowledge of the facility confirmed that the plant would be built in the state of San Luis Potosi.

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