BMW’s electric car sub-brand is growing, thanks to new and upgraded models, but its management ranks are shrinking as executives flee to a Chinese startup.
Three top names, including the program’s head, were lured to China’s Future Mobility Corp. this year, Automotive News Europe reports, while sales dropped by nearly a quarter in the first three months of 2016.
Call it a case of “i” gotta go. (Read More…)
Sergio Marchionne added another CEO title to his résumé yesterday, taking control of Ferrari, where the Fiat-Chrysler head already served as chairman.
He replaces former CEO Amedeo Felisa, who retired after 26 years with the company. Felisa remains on the independent automaker’s board of directors, where he will serve as a technical advisor.
Marchionne now has full control of the company he spun off from Fiat Chrysler Automobiles at the beginning of the year. Two years ago, he succeeded former chairman Luca di Montezemolo, who stepped down in protest of Marchionne’s plans for the brand’s future. (Read More…)
TTAC commenter Piston Slap Yo Mamma has given us a great gift.
While perusing used cars on his local Craigslist site, he noticed a trend occurring in the vehicle images. Fingers. Lots of them. Obscuring license plates. Possibly, revealing more about the driver than the plate itself.
So numerous were these crooked appendages, often topped with purple or naturally yellow nails, that he felt the need to share them. So, this Tumblr page was born. (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…)
News from Dearborn this morning will please recent purchasers of F-150s, Transits, and Fiestas — Ford Motor Company is absolutely on fire financially, earning $2.5 billion in a very large first quarter.
Ford’s pre-tax profit of $3.8 billion was a record for the company. (Read More…)
Will Volkswagen TDI owners who opt for a buyback be soured on the brand, or can they be lured into a new model?
It’s a big question for dealers, who could stand to benefit from the dealership traffic they’ll see when Volkswagen’s buyback program gets up and running later this year. (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…)
The heavy financial cost of Volkswagen’s diesel emissions scandal is becoming clear.
After reaching a settlement yesterday with U.S. consumers and regulators, the automaker is more than doubling the size of its “make the problem go away” cash pile, Bloomberg is reporting.
Volkswagen set aside 16.2 billion euros ($18.6 billion) today to deal with the scandal’s fallout, up from the 6.7 billion euro ($7.6 billion) figure previously stated. (Read More…)
Jaguar’s design chief just broke the hearts of that tiny, tiny group of enthusiasts who were holding out for a new Jaguar wagon.
Ian Callum threw an ice cold pot of tea onto speculation that the British automaker would offer a wagon version of one of its new sedans, telling a group of auto journos in London that they were done with estate cars, Automotive News Europe has reported.
The reason for this has a lot to do with why Callum and the journalists were in the same room. The event concerned the 2017 Jaguar F-Pace, the automaker’s first crossover SUV. (Read More…)