Ford Motor Co. seems to be making plans to announce the production of a new engine in Windsor, Ontario — or at least that’s the buzz from insider sources.
We already knew the venerable V10 the company manufactures for use in its trucks and cutaway incarnations of the Econoline would be ending production sometime within the next four years.
That successor is now believed to possess fewer cylinders, a larger displacement, and be named “the 7X platform.”
Ford Motor Company has announced that it will invest $1.2 billion into three Michigan facilities to strengthen its status among truck and SUVs manufacturers and to further enhance its role as a “mobility company.” Most importantly, the cash is needed if Americans ever want to get their hands on a Bronco or Ranger again.
Many of the investments are included in the automaker’s 2015 promise to pour nine billion dollars into its U.S. plants over the next several years. In an agreement with UAW made almost two years ago, Ford said it would pour $700 million into the Michigan Assembly plant, $150 million into the Romeo Engine plant, and $400 million for Flat Rock Assembly.
While these were not the only locations promised capital, Ford released an official statement that all three would see the promised amount — or better. (Read More…)
BMW Group CEO Harald Krüger says the automaker fully intends on sicking with its current investment strategies in Mexico and the United States, even after President Donald Trump’s proposal to levy steep import taxes on vehicles brought into American borders.
“We need free world trade,” Krueger told the CAR Symposium automotive congress in Bochum, Germany, on Wednesday. (Read More…)
Toyota is planning a $600 million expansion of its Princeton, Indiana assembly plant to enhance production capacity and modernize the factory for the next-generation Highlander.
The company’s financial commitment underscores Toyota’s new and carefully domesticated image while serving to remind everyone that its cars are built in America for Americans — not unlike the company’s red, white, and blue display cars at this year’s North American International Auto Show.
“This announcement shows Toyota’s commitment to continued U.S. investment,” the company said in its official announcement. “This expansion is part of Toyota’s localization strategy to build vehicles where they are sold.” (Read More…)
Not wanting to be left out of the flurry of recent U.S. investment announcements from various automakers, General Motors arrived at the party with cash in hand and second thoughts about Mexico.
GM says it will invest an extra $1 billion in its U.S. operations, with the cash covering several new vehicle projects, as well as some advanced technologies and components initiatives. The funding comes hot on the heels of similar announcements from Ford, Fiat Chrysler Automobiles and, just this morning, Hyundai/Kia.
In a nod to the political climate in America, GM will shuffle some outsourced parts production back to U.S. soil. (Read More…)
There’s more than just Ram 1500 production coming to Fiat Chrysler Automobiles’ Sterling Heights assembly plant.
According to planning documents, the Michigan facility will gain a test track as part of its $1.48 billion overhaul, The Detroit News reports. (Read More…)
Not wanting to be left out of the mobility party, Toyota and Volkswagen recently invested in two ride-sharing companies, becoming the latest automakers to sink cash into the sharing economy.
Toyota invested a rumored $100 million in the ubiquitous ride-sharing company Uber, while Volkswagen, which has to meter out its dough carefully (thanks to a pesky little scandal), dropped $300 million on Uber’s taxi-hailing rival Gett. (Read More…)
With the CT6 and XT5 hitting the floor soon, Cadillac is working on a new dealer incentive program to encourage improvement of the buying experience at its stores.
Automotive News reports the program could bring as much as $850 million to $1 billion USD “in incremental profit” for the brand’s dealership network over the next four to five years, according to president Johan de Nysschen:
If we want to have a strong brand, we need to have a strong franchise. To do that, it means the dealers are profitable and that they’re able to invest in the business and to build the customer experience.
Looking for new stock to add to your portfolio in 2015? Credit Suisse has one for your consideration: Tesla.
Though Fiat Chrysler Automobiles CEO Sergio Marchionne’s five-year plan announced this week may be ambitious, analysts are raising questions about how the plan will be funded — and how much will be needed — if it is to be successful, let alone live up to Marchionne’s vision.
After a two-year break in expansion mandated by Hyundai Motor Company Chairman Chung Mong-koo in order to avoid quality issues experienced by Toyota during their aggressive growing spurt in the 2000s, Hyundai and Kia are both looking through feasibilities studies to determine where to invest in expanding their manufacturing footprint.
Appearing before Opel’s best and brightest in Germany, General Motors CEO Mary Barra proclaimed her company’s European brand, though unprofitable, is a vital one for the General.
With plans to give the world more of their wonders, such as the XL1, Twin Up! and Jetta, through 2018, Volkswagen has opted to shield their product spending from cost-cutting.