"We all know the narrative: cars are dead are dying. That's certainly true for some, but not for us. Our story is a little different," said American Honda's Henio Arcangeli Jr.
https://www.autonews.com/executives/honda-sees-future-cars-and-gen-z-says-arcangeli http://ifttt.com/images/no_image_card.pngFriday, May 31, 2019
VW CEO says diesel scandal allegations unfounded, report says
German prosecutors are investigating whether VW executives, including CEO Herbert Diess and Chairman Hans Dieter Poetsch, should have made a regulatory disclosure to inform investors about the emissions cheating scandal in 2015.
https://www.autonews.com/executives/vw-ceo-says-diesel-scandal-allegations-unfounded-report-says http://ifttt.com/images/no_image_card.pngFord preps crossover debuts for Frankfurt auto show while rivals pull out
Ford said it will attend the Frankfurt auto show in September in a boost for the event after rivals such as Toyota, Renault and all of Fiat Chrysler's marques decided to skip the event. So far, 22 brands have decided not to exhibit in Frankfurt.
https://www.autonews.com/frankfurt-auto-show/ford-preps-crossover-debuts-frankfurt-auto-show-while-rivals-pull-out2017 Ford Flex Limited
Thursday, May 30, 2019
Manley sold $3.5 million in FCA shares a day after Renault offer
In his disclosure, Fiat Chrysler CEO Mike Manley declared selling 250,000 shares at an average price of $13.85 for a total value of $3.5 million.
https://www.autonews.com/executives/manley-sold-35-million-fca-shares-day-after-renault-offer http://ifttt.com/images/no_image_card.pngManley sold FCA shares 1 day after Renault offer
Mike Manley, CEO of Fiat Chrysler Automobiles, sold over a quarter of his shares in FCA on Tuesday, one day after FCA announced a merger offer for Renault. Manley declared the sale in a filing to the Dutch financial markets authority, AFM. FCA is a Dutch-registered corporation.
Shares in FCA and Renault both jumped Monday, with FCA gaining 8 percent to €12.37 ($13.85) in Milan and Renault jumping 12 percent to €56.03 in Paris. Wall Street was closed Monday for Memorial Day, but FCA's New York-traded shares shot up Tuesday, quickly aligning to the Milan price.
In his filing to the AFM, Manley declared selling 250,000 shares at an average price of $13.85 for a total value of $3.5 million.
The FCA proposal to Renault, which is being reviewed by the Renault board, did not make any reference to the merged company's governance and management . According to Reuters, FCA Chairman John Elkann could become chairman of the new entity, while Renault Chairman Jean-Dominique Senard would be CEO. According to the Financial Times, Manley is expected to be named COO.
The sale of FCA shares by Manley this week is not his first. According to filings to the AFM, since becoming CEO of FCA on July 21, just days before the death of his predecessor, Sergio Marchionne, Manley has received 1,388,582 shares as one-time grants and within the company's incentive programs.
He sold 346,423 shares in various transactions from March 14 to March 22, then 97,753 on May 9.
Manley has so far sold 694,176 shares — almost half of the total received — grossing almost $10 million. That amount does not consider income taxes Manley must pay on his compensation or any fees on the transactions.
Marchionne had used share sales on some occasions to cover taxes on his stock grants.
Unlike at some public companies, FCA managers are not formally obliged to keep shares for a certain time. FCA's 2018 annual report published Feb. 22 says, "The board recognizes the critical role that executive stock ownership has in aligning the interests of management with those of shareholders."
It went on to note that Manley's holdings at the time were "significantly greater than common market practice of six times base salary."
Manley still owns 694,406 FCA shares, which are worth $9.4 million at FCA's Wednesday closing price of $13.55; that is just shy of six times his $1.6 million base salary.
The company has taken under advisement a stock ownership and retention policy planned for implementation in 2019, according to the annual report.
https://www.autonews.com/executives/manley-sold-fca-shares-1-day-after-renault-offer http://ifttt.com/images/no_image_card.pngRenault's Senard says jobs and Nissan will be safe in FCA deal
Renault Chairman Jean-Dominique Senard painted a picture in Tokyo of a grand alliance of Renault, Nissan and Fiat Chrysler making and selling cars across the globe, keeping people employed and churning out profits.
https://www.autonews.com/executives/renaults-senard-says-jobs-and-nissan-will-be-safe-fca-deal http://ifttt.com/images/no_image_card.pngWednesday, May 29, 2019
Reagor ordered to pay Ford Credit what it's owed
U.S. District Judge Sam Cummings of Texas signed an order saying that due to the passage of time, Ford Credit can file an amended judgment for what is owed in the case. It must do so on or before June 3.
https://www.autonews.com/dealers/reagor-ordered-pay-ford-credit-what-its-owedPorsche CEO Blume probed by German prosecutors, paper says
By approving payments made to a Porsche works council member, CEO Oliver Blume and other Porsche staffers may have contributed towards a misuse of corporate funds, the Stuttgarter Nachrichtenr newspaper reported.
https://www.autonews.com/executives/porsche-ceo-blume-probed-german-prosecutors-paper-says http://ifttt.com/images/no_image_card.pngTuesday, May 28, 2019
Porsche offices searched by German prosecutors in payments probe
Tax investigators and prosecutors searched several premises including Porsche's offices in Weissach and Stuttgart, the offices of a tax adviser in Stuttgart, and offices of finance authorities, the Stuttgart prosecutor's office said.
https://www.autonews.com/executives/porsche-offices-searched-german-prosecutors-payments-probe http://ifttt.com/images/no_image_card.pngOutgoing Mercedes USA CEO Exler joining Atlanta pro sports parent firm
Dietmar Exler is teaming up with his former boss Steve Cannon, who left Mercedes-Benz USA in 2015 to lead Atlanta-based AMB Group.
https://www.autonews.com/executives/outgoing-mercedes-usa-ceo-exler-joining-atlanta-pro-sports-parent-firm http://ifttt.com/images/no_image_card.pngHow FCA's Elkann and Renault's Senard drew up merger plan
Renault's Jean-Dominique Senard and Fiat Chrysler’s John Elkann began talks about a possible merger after the French executive realized merger talks with Nissan had reached a dead end.
https://www.autonews.com/executives/how-fcas-elkann-and-renaults-senard-drew-merger-plan http://ifttt.com/images/no_image_card.png2019 Ford F-150
2019 Ford F-150
France insists any Renault/FCA deal must protect French jobs
France must protect its own interests and jobs in any merger between Renault and Fiat Chrysler, French Finance Minister Bruno Le Maire said.
https://www.autonews.com/executives/france-insists-any-renaultfca-deal-must-protect-french-jobs http://ifttt.com/images/no_image_card.png2019 Ford Ranger
2019 Ford Ranger XL
2019 Ford Fiesta S
2019 Ford Super Duty F-250 SRW XL
Monday, May 27, 2019
Why a Fiat Chrysler merger makes sense for Renault
The future of the Renault-Nissan alliance, in which Renault has a leading role, has looked increasingly cloudy since the arrest and detention of Carlos Ghosn, the executive who largely shaped its current form.
https://www.autonews.com/executives/why-fiat-chrysler-merger-makes-sense-renault http://ifttt.com/images/no_image_card.pngAn FCA-Renault merger would bring Elkann out of Marchionne's shadow
For some years now, FCA Chairman John Elkann has been looking for a deal that will secure the future of the automaker founded by his grandfather Gianni Agnelli
https://www.autonews.com/executives/fca-renault-merger-would-bring-elkann-out-marchionnes-shadow http://ifttt.com/images/no_image_card.pngFiat's experience with Chrysler shows Renault deal can work, Elkann says
"Based on the experience with Chrysler in these past 10 years, I'm very encouraged as to what we could achieve with Renault in coming years," FCA Chairman John Elkann told reporters.
https://www.autonews.com/executives/fiats-experience-chrysler-shows-renault-deal-can-work-elkann-says http://ifttt.com/images/no_image_card.png2019 Lincoln Continental Reserve
2016 Ford Escape Titanium
2019 Lincoln MKZ Reserve II
Automotive News Europe Congress: Focus on the future
An industry embracing electrification and experimenting with mobility in an era of stricter emissions rules and questions about the future provided plenty of discussion points at the Automotive News Europe Congress.
https://www.autonews.com/executives/automotive-news-europe-congress-focus-future http://ifttt.com/images/no_image_card.pngToyota sees fuel cell costs on a par with hybrids
Tackling hot topics in Europe
Hakan Samuelsson, CEO of Volvo Cars, is flanked by Automotive News Europe Publisher Jason Stein, left, and Group Publisher KC Crain at the Automotive News Europe Congress in Volvo's hometown of Gothenburg, Sweden.
https://www.autonews.com/executives/tackling-hot-topics-europe http://ifttt.com/images/no_image_card.pngMAZDA'S MASAHIRO MORO AND JEFF GUYTON: Exploiting synergies inside and out
Top North American execs Masahiro Moro and Jeff Guyton discuss Mazda's partnership with Toyota on an Alabama assembly plant as well as trade policy and a new diesel offering.
https://www.autonews.com/talk-top/mazdas-masahiro-moro-and-jeff-guyton-exploiting-synergies-inside-and-out http://ifttt.com/images/no_image_card.pngMitsubishi's new chief hints more change ahead in U.S.
Mitsubishi needs to readjust operations in the U.S. to align the company's new "small but beautiful" strategy, says Takao Kato, tapped this month as the next global CEO.
https://www.autonews.com/executives/mitsubishis-new-chief-hints-more-change-ahead-us http://ifttt.com/images/no_image_card.pngGerman luxury brands should rethink strategy as sales peak, analyst warns
Opel gets fit after cutting costs, cookies
PORSCHE'S KLAUS ZELLMER: Taking the plunge into electrification
Porsche's North American chief believes customers will embrace the change from V-6 growl to EV quiet.
https://www.autonews.com/talk-top/porsches-klaus-zellmer-taking-plunge-electrification http://ifttt.com/images/no_image_card.pngRelief ? and worry ? for Volvo's Samuelsson
Ford: Job cuts had to be slow
Executives are adamant that being deliberative about cutting 10 percent of its global white-collar work force was necessary to yield meaningful benefits.
https://www.autonews.com/automakers-suppliers/ford-job-cuts-had-be-slowSaturday, May 25, 2019
2019 Ford Super Duty F-350 DRW XL
Volvo CEO calls possible U.S-Europe trade war 'worrying'
President Trump's decision to delay imposing tariffs on European's car industry comes as a welcome relief to automakers, but Volvo CEO Hakan Samuelsson says the potential of a trade war between the two global power players is "worrying."
https://www.autonews.com/executives/volvo-ceo-calls-possible-us-europe-trade-war-worrying http://ifttt.com/images/no_image_card.pngGM defense unit gets new leaders, stays quiet on plans
GM has remained in stealth mode a year and a half after re-establishing its defense unit. What is known is that the new leadership team will be responsible for launching several hydrogen fuel cell-powered products.
https://www.autonews.com/executives/gm-defense-unit-gets-new-leaders-stays-quiet-plans http://ifttt.com/images/no_image_card.pngFriday, May 24, 2019
Daimler's new CEO touts green strategy
Daimler's new boss Ola Källenius posted a brief internal audio message via social media in which he called on employees to support a new strategy to fully decarbonize its core automobile fleet over the next twenty years.
https://www.autonews.com/executives/daimlers-new-ceo-touts-green-strategy http://ifttt.com/images/no_image_card.png2015 Ford F-150 Lariat
Former Opel CEO Neumann joins board of U.S. self-driving software startup
Former Opel CEO Karl-Thomas Neumann has joined the board of California-based Apex.AI, which is working to make open-source self-driving software reliable enough to be used in commercially available vehicles.
https://www.autonews.com/executives/former-opel-ceo-neumann-joins-board-us-self-driving-software-startup http://ifttt.com/images/no_image_card.pngBMW pays homage to outgoing Daimler CEO Zetsche
BMW paid tribute to outgoing Daimler CEO Dieter Zetsche in a light-hearted video that ends with a Zetsche lookalike driving off in a BMW i8 sports car.
https://www.autonews.com/executives/bmw-pays-homage-outgoing-daimler-ceo-zetsche http://ifttt.com/images/no_image_card.pngThursday, May 23, 2019
Nissan board nominees avoid broaching Renault merger issue
As Nissan ponders its future without former chairman Carlos Ghosn, French partner Renault has been quietly maneuvering for merger talks.
https://www.autonews.com/executives/nissan-board-nominees-avoid-broaching-renault-merger-issue http://ifttt.com/images/no_image_card.png2015 Dodge Challenger R/T Plus
Ghosn's fight to prove innocence begins in Tokyo
Pre-trial hearings began in Tokyo against Carlos Ghosn over allegations ranging from falsifying financial records to redirecting company money into his own accounts.
https://www.autonews.com/executives/ghosns-fight-prove-innocence-begins-tokyo http://ifttt.com/images/no_image_card.pngWednesday, May 22, 2019
Ford debuts updated UAW-Ford training center
The updated center features basic-to-advanced technology classes, part of a four-year apprenticeship program for Ford employees.
https://www.autonews.com/manufacturing/ford-debuts-updated-uaw-ford-training-center2019 Ford F-150 Raptor
2018 Chevrolet Impala Premier
2016 Chevrolet Colorado 4WD Z71
2018 Ford F-150 LARIAT
2006 Cadillac STS 4DR SDN V6
2010 Honda Fit Sport
2019 Lincoln Nautilus Select
2019 Ford F-150
Daimler's Dr. Z hands over reins with need for deep savings
The walrus-mustached Dieter Zetsche and CFO Bodo Uebber, who is also leaving, turned Daimler from an industrial conglomerate that included holdings in aviation into a company focused on upscale passenger cars and commercial vehicles.
https://www.autonews.com/executives/daimlers-dr-z-hands-over-reins-need-deep-savings http://ifttt.com/images/no_image_card.pngFord tests package-carrying robots for driverless delivery
Ford would like to deploy Digit delivery robots as early as 2021, alongside the planned introduction of its autonomous vehicle fleets to ferry people and packages around the clock.
https://www.autonews.com/mobility-report/ford-tests-package-carrying-robots-driverless-deliveryDaimler's Zetsche bows out pledging cost cuts to boost profit
Daimler said its target remains to return Mercedes-Benz Cars, which includes the Mercedes brand and Smart, and Mercedes-Benz Vans to a "profitability corridor" of 8 percent to 10 percent by 2021.
https://www.autonews.com/executives/daimlers-zetsche-bows-out-pledging-cost-cuts-boost-profit http://ifttt.com/images/no_image_card.pngDaimler's Zetsche steps down pledging cost cuts to boost profit
Daimler said its target remains to return Mercedes-Benz Cars, which includes the Mercedes brand and Smart, and Mercedes-Benz Vans to a "profitability corridor" of 8 percent to 10 percent by 2021.
https://www.autonews.com/executives/daimlers-zetsche-steps-down-pledging-cost-cuts-boost-profit http://ifttt.com/images/no_image_card.pngTuesday, May 21, 2019
BMW CEO's future in doubt as board tensions emerge, report says
Some BMW supervisory board members are raising questions over whether Harald Krueger is the right choice to lead the company and will discuss the CEO’s second-term prospects in the coming weeks, people familiar with the matter told Bloomberg.
https://www.autonews.com/executives/bmw-ceos-future-doubt-board-tensions-emerge-report-says http://ifttt.com/images/no_image_card.pngCelebrating the racing, business lives of Niki Lauda
The three-time Formula 1 World Champion was one of the key players in F1 from the early 1970s. His celebrated battle for the 1976 World Championship with James Hunt played an important part in transforming the sport into the massive TV spectacle it would become. He died Monday at age 70.
https://www.autonews.com/executives/celebrating-racing-business-lives-niki-lauda http://ifttt.com/images/no_image_card.png2012 Dodge Avenger SXT
2018 Ford Focus Titanium
2017 Ford Edge SEL
2016 Ford Fusion SE
VW outlines launch plans for first member of new EV family
Volkswagen brand is getting ready to launch the first of a new lineup of electric vehicles, the ID3 hatchback. Automotive News Europe spoke with the brand’s sales chief, Juergen Stackmann, about his hopes for the new EV range.
https://www.autonews.com/executives/vw-outlines-launch-plans-first-member-new-ev-family http://ifttt.com/images/no_image_card.pngMonday, May 20, 2019
Ford plans 7,000 salaried job cuts by September, saving $600M a year
"Saying goodbye to colleagues is difficult," CEO Jim Hackett writes to employees.
https://www.autonews.com/automakers-suppliers/ford-plans-7000-salaried-job-cuts-september-saving-600m-yearFord to complete 7,000 salaried job cuts by September, saving $600M a year
"Saying goodbye to colleagues is difficult," CEO Jim Hackett writes to employees.
https://www.autonews.com/automakers-suppliers/ford-complete-7000-salaried-job-cuts-september-saving-600m-yearFord plans to complete 7,000 salaried job cuts by September, saving $600 million
'Saying goodbye to colleagues is difficult,' CEO Jim Hackett writes to employees.
https://www.autonews.com/automakers-suppliers/ford-plans-complete-7000-salaried-job-cuts-september-saving-600-million