Has Another Decade-Old GM Coverup Come to Light?
Stop me if you’ve heard this one before: A person dies in a vehicle crash. Faulty components appear to be to blame. General Motors is eventually accused of knowing about the safety issues and doing nothing to correct them.
Reuters Claims 74 Fatalities Linked To GM Recall Through FARS Research
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.
Reuters Sees EV Doldrums, Barrons Sees Tesla Hit A Brick Wall
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:
Reuters Explains Why The Miles Bankruptcy Is Relevant To Other EV Bankruptcies
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.
Another One Bites The Dust: Better Place Bankrupt
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.
Car Fight: Chrysler Calls Out Tesla – Who Paid Up First?
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.
Mitsubishi Wants To Re-Tool Itself
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.”
Lutz And Chinese Offer One Penny On The Dollar For Fisker
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.
Where Is Currency Manipulation When We Need It: Ford Shuts Down Down Under
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:
CAW And Chrysler Reach Deal: Marchionne May Get The Last Laugh
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.
GM CFO Makes Reuters Correspondent Want To Throw Up
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.
Grudge Match: Reuters Races TTAC! Complete Photo Documentary
Reuters is widely considered the best in the business when it comes to the auto beat. They were that before Paul Ingrassia joined Reuters as Deputy Editor-in-Chief. That someone who won the Pulitzer-prize for his coverage of the turmoil at GM took the helm at Reuters only made their coverage better. Amongst the Tokyo auto press corps, Chang-Ran Kim of Reuters reigns supreme.
However, even the best journalists can become a bit territorial, and an aging TTAC blogger who air-drops into Tokyo every other month can become an irritant. After a little back and forth ribbing, we decided: “Let’s settle this like, well, persons.” And a grudge match was arranged:
Ran Kim of Reuters races BS of TTAC. Full race coverage after the jump ….
Ghosn Sees One Or Two Global Chinese Carmakers. Eventually
The Chinese quest to own a large Chinese automaker with global reach fell on sympathetic ears with someone who should be scared of the yellow peril: Carlos Ghosn. After all,Ghosn is in charge of two automakers. Nissan is the largest Japanese brand in China. Renault is trying to get traction in China. At the Thomson Reuters Newsmaker event in Tokyo today, Ghosn said he does not only expect one or two large Chinese automakers to emerge on the global market, he also understands why.
First, Ghosn had interesting news for those who think there is no money to be made in China:
Ghosn To China: Give Us Your Rules, And We'll Give You Our EV
Nearly two months ago, American senators complained that China is continuing its “long history of breaking international trade rules” and that there is a “trade barrier that is designed to prevent U.S. automakers from accessing the Chinese market” for electric vehicles.
As Ed Niedermeyer said it back when, there were no new rules. There still aren’t any. If there is one man who should be up to date on rules on electric vehicles around the world and especially in China, then it’s Carlos Ghosn. After all, he did bet the future of two companies, Renault and Nissan on the future of the EV. Also, Nissan is the largest Japanese brand in China, and Nissan’s joint venture partner is Dongfeng, a company owned by China’s central government. So he should know what the rules are.
The trouble is: Carlos Ghosn has no idea.
Carlos Ghosn Predicts Record Year, No Double Dipping
A beaming and relaxed Carlos Ghosn dispensed a little insider knowledge tonight in Tokyo and let (surely not involuntarily) slip that there will be “significantly higher numbers tomorrow” when Nissan announces its predictions for the current fiscal year.