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Archive for the ‘Diesel’ Category

SEC Suing VW, former CEO, for ”Massive Fraud” in Emissions Cheating Scandal

Lawsuit "legally and factually flawed," the automaker responds.

by Paul A. Eisenstein on Mar.15, 2019

Former VW CEO Martin Winterkorn faces legal problems in Germany, as well as the U.S.

Volkswagen’s ongoing efforts to end a scandal triggered by its cheating on diesel emissions testing just took a turn for the worse, the Securities and Exchange Commission accusing both the automaker and former CEO Martin Winterkorn of committing a “massive fraud” on U.S. investors.

The automaker has acknowledged it used “defeat devices” to rig its diesel engines to illegally pass emissions tests and has so far laid out over $30 billion in fines and settlements. It is still facing other legal headaches, including a separate lawsuit by investors and ongoing investigations in Europe, one resulting in the arrest and jailing of the former CEO of its Audi subsidiary. But it responded to the latest challenge by declaring the SEC lawsuit “legally and factually flawed.”

Breaking News!

The SEC lawsuit, filed in San Francisco, claims the automaker and former CEO Winterkorn concealed the depth of the scandal – and the potential penalties – from both investors and federal regulators. The Thursday complaint noted that in the year before the cheating was discovered and publicized by the EPA Volkswagen issued $13 billion in bonds and securities in the U.S. Those value of those financial devices were directly impacted once the carmaker’s subterfuge was revealed.

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Fiat Chrysler Eyes Extending Diesel Run in Europe

CEO Manley says consumer demand will determine final decision.

by Joseph Szczesny on Mar.13, 2019

FCA CEO Mike Manley said the company may rethink its diesel plans in Europe if demand is strong.

Fiat Chrysler Automobiles N.V. could wind up backtracking on the company’s earlier pledge to eliminate diesel from its passenger cars in Europe by 2022.

In a conversation on the sidelines of the Geneva Motor Show, FCA CEO Mike Manley indicated that the company could reconsider its decision to eliminate diesel engines from its passenger car models if public demand for the vehicles remains strong.

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“We don’t want to say we got rid of diesel, and by the way, it also came with a 15%, 20%, 30% drop in our sales,” Manley said. (more…)

VW Expects to Sell 22 Million EVs Over Next Decade

CEO’s new target marks a 50% jump.

by Paul A. Eisenstein on Mar.12, 2019

VW CEO Herbert Diess is shown here with the I.D. Crozz and Buzz concept vehicles.

Germany’s Volkswagen AG expects to sell 22 million battery-electric vehicles over the next decade, CEO Herbert Diess said during the company’s annual meeting on Tuesday.

The carmaker has been on an aggressive push into electrification and has outlined projects expected to cost it close to $100 billion by 2025 alone. But, until today, Diess had set a target of selling just 15 million battery-cars. Either figure would mark a massive increase considering VW sold just 50,000 all-electric vehicles last year.

Electrification News!

“The supertanker is picking up speed,” Diess said Tuesday in a speech to shareholders gathered in Frankfurt. “We are aligning Volkswagen with e-mobility like no other company in our industry.”

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Live From Geneva!

Concepts, shooting brakes, super cars: Show's got it all!

by tdb on Mar.05, 2019

The 89th edition of the Geneva International Motor Show is now in its second day. Thousands of journalists, executives and other industry types at the Palexpo are examining many of the new introductions; however, there is still a slate of debuts to go with more EVs, shooting brakes and sports cars.

This year is no different as the show expects to show more than 900 vehicles, including a slew of new vehicle debuts that include products ready for the market and some concepts that are still a little ways off. TheDetroitBureau, as usual, is your home for all fo the news from the show, combing for the latest items and other breaking news from the show floor. Since the pace is fast and furious, check back often for new stories! (more…)

Mercedes Saturates Geneva Motor Show with Debuts

German automaker flooding floor with debuts.

by Michael Strong on Feb.25, 2019

Mercedes-Benz will show off at least five new vehicles at the Geneva Motor Show this year.

While many of the world’s auto shows are struggling to keep long-time exhibitors at their events, it appears Mercedes-Benz – which didn’t participate in this year’s NAIAS – will ensure the Geneva Motor Show keeps at least one automaker on the show floor.

At the 89th Geneva Motor Show, the company will present the new CLA Shooting Brake and, for the first time, the Concept EQV and the facelifted Mercedes-Benz GLC. In addition, Mercedes will take the covers off its Formula E showcar, the smart forease+ and the new V-Class.

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The big product story is the world premiere of the CLA Shooting Brake. It’s a “design counterpart” to the CLA Coupé. The shooting break’s exterior borrows from the coupe’s contoured and muscular rear haunches for its rear storage space.  (more…)

Live From Detroit!

This year's event has some of everything.

by tdb on Jan.14, 2019

This year’s media preview of the North American International Auto Show may be wrapping up, but it had some intriguing — and occasionally surprising — debuts, including a flying car. Check out  complete coverage of the 30th anniversary NAIAS on TheDetroitBureau.com. (more…)

Jaguar Land Rover Cutting 4,500 Jobs in Europe

Brexit, dying diesel sales and slow sales in China driving cuts.

by Joseph Szczesny on Jan.11, 2019

Jaguar Land Rover CEO Ralf Speth said the company was facing struggles due to Brexit and other industry issues around the globe.

Jaguar Land Rover is preparing to eliminate about 4,500 jobs worldwide as it responds to the decline of demand for diesels, the slowdown in the sales of new vehicles in China and the drag on sales created by Great Britain’s withdrawal from the European Union, known as Brexit.

While Jaguar Land Rover enjoyed a good year in the U.S. with sales rising 7%, the company, which is the United Kingdom’s largest automaker representing roughly 10% the company’s workforce, is implementing a plan to reduce costs by $3.2 billion.

Global News!

The effort was announced last year as part of a series of moves toboost cash flow through 2020. JLR already eliminated 1,500 jobs in 2018, the company said Thursday in a statement. (more…)

Ford Expected to Cut “Thousands” of European Jobs

European unit wants 6% profit margin by 2020.

by Michael Strong on Jan.10, 2019

Steven Armstrong, Ford of Europe's chief, confirmed the unit is taking measures and examining other options to become profitable.

With speculation swirling about the details of an almost certain link up between Ford Motor Co. and Volkswagen AG, the company announced it plans to cut “thousands” of jobs in Europe in the near term.

“We are taking decisive action to transform the Ford business in Europe,” Steven Armstrong, group vice president, Europe, Middle East and Africa, said in a statement on Thursday.

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Ford Europe has been a money loser for several years and now needs to restructure its operations to turn that trend around. The unit employs about 53,000 people. (more…)

Toyota Teaming Up With Paccar to Build a Test Fleet of Clean Hydrogen Semis

Project will focus on heavily polluted Port of Los Angeles.

by Paul A. Eisenstein on Jan.09, 2019

Toyota is teaming up with Paccar to develop a next-generation fuel-cell powered semi-truck to be used at the ports of Los Angeles and Long Beach.

Toyota is teaming up with Paccar, one of the world’s largest producers of heavy-duty trucks, to build 10 hydrogen-powered Class 8 prototypes.

The rigs will go into operation at the twin ports of Los Angeles and Long Beach, California, where the thousands of diesel trucks currently in use catch blame for a disproportionate share of the region’s air pollution. The project comes as environmental regulators are putting into place plans to completely eliminate conventional diesel trucks at the two ports by 2035.

CES News!

“This is not just a science experiment,” said Bob Carter, executive vice president, Toyota Motor North America. “The goal is to make a difference in society, to remove pollution and improve the air quality in and around the Port of Los Angeles.” (more…)

GM Product Czar Mark Reuss Adds “President” to His List of Titles

Following in his father’s footsteps.

by Paul A. Eisenstein on Jan.03, 2019

GM's Mark Reuss may be happiest behind the wheel of one of these, his impact will now reach beyond product development.

General Motors has a new president, global product czar Mark Reuss stepping in to fill a role left vacant late last year when former president Dan Ammann was reassigned to run GM’s autonomous vehicle development subsidiary, Cruise Automation.

The 55-year-old veteran, who trained as an automotive engineer, likes to say he has “gasoline in his blood.” He also has long ties to GM itself, his father Lloyd Reuss serving as the carmaker’s president during the turbulent era from 1990 to 1992.

Global News!

“Mark’s global operational experience, deep product knowledge and strong leadership will serve us well as we continue to strengthen our current business, take advantage of growth opportunities and further define the future of personal mobility,” said GM Chairman and CEO Mary Barra. “Mark has played a critical role in leading the development of the company’s award-winning vehicles while transitioning his team to prepare for growing electrification and autonomous technologies.” (more…)