Tag: reuters

By on June 3, 2014

GM RenCen Storm Clouds

Reuters reports the original fatality figure of 13 allegedly linked to the out-of-spec ignition switch that spurred a recall of 2.6 million General Motors vehicles this February may now actually be as high as 74.

(Read More…)

By on June 13, 2013

If TTAC would headline “Doldrums in U.S. electric car sales could linger indefinitely,” we’d come under screeching attacks by electric propulsion proponents, screaming “bias,” “slow newsday,” and “faux news,” along with choice invectives that would overpower our bad word filter. Well, we are sorry to disturb the peace again, but before the screeching starts, be advised that it’s not our headline. The headline is from buttoned-down Reuters. The wire doubts EVs will become a serious factor anytime soon, despite rounds of aggressive pricing.

In May, we recommended to “prepare for a low intensity price war over electric vehicles.” By now, the war is in full swing, and it is fought with big artillery. Writes Reuters: (Read More…)

By on June 12, 2013

Milesev

Yesterday, battery acolytes who hate to see stories of EV makers going bankrupt complained about a TTAC story of another EV maker going bankrupt.  They said the story was unfair, because Miles Electric made electric essential services vehicles, used for parking enforcement and the like, whereas bankrupt EV makers such as Coda tried to sell real cars,so where’s the connection?

Our story actually went to great pains trying to explain this promising niche, in an attempt to say “well, if it doesn’t work here, where will it?”

Wire services such as Reuters are less subtle.  (Read More…)

By on May 27, 2013

Better Place “filed a motion in an Israeli court to wind up the company, bringing an end to a venture whose battery charging network had aimed to boost electric car sales,” Reuters says. (Read More…)

By on May 23, 2013

Ommm – ummmm

The first thing they drummed into me when I started as a copywriter for Volkswagen: “Never use superlatives. They only get you in trouble.” Now, Elon Musk is in trouble over who was first to fully pay back the government loan.  (Read More…)

By on May 23, 2013

IMG_5537

After accumulating some $9 billion in losses, Mitsubishi Motors is bringing its financial house in order. According to Reuters, “Mitsubishi Motors is considering asking shareholders to approve plans for a 10-for-1 reverse stock split. At the same time, the company may ask shareholders to approve a capital reorganization – a change in accounting that would make it possible to resume paying dividends.” (Read More…)

By on May 23, 2013

Bob Lutz  Picture courtesy dailytech.com

Fisker is worth around 200 Karmas at retail. “A team including former General Motors Co executive Bob Lutz and China’s largest parts maker is looking to buy Fisker Automotive for $20 million, a fraction of the “green” car company’s estimated worth almost a year and a half ago,” Reuters says. (Read More…)

By on May 23, 2013

File picture of Ford Australia's head office in Melbourne

Ford has long been at the forefront of the currency debate, claiming currency manipulation when the yen went to levels that nearly killed the Japanese auto industry, and shouting “currency manipulation” now that the yen is back to normal levels. Now, Ford itself experiences the devastating effects of changing exchange rates:  Ford is shutting down all its manufacturing operations in Australia. The reason: A strong Australian dollar.  Says Reuters: (Read More…)

By on September 27, 2012

Did Ken Lewenza hose Sergio Marchionne and Chrysler? Ask me that a few days ago and I may have said yes. Now that the terms of the CAW and Chrysler have surfaced, I’m not so sure.

(Read More…)

By on July 19, 2012

Former Wall Street banker turned GM CFO Dan Ammann put the fear of a higher being into Reuters’ Detroit correspondent Ben Klayman. To drive home the point that bean counters can be car guys too, Ammann raced his gray-metallic Corvette Z06 around GM’s Michigan test track – with a nauseated Klayman in the passenger’s seat. (Read More…)

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