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Tag: car

  • Dacia halts production after global cyber attack

    Dacia halts production after global cyber attack

    Romanian carmaker Dacia, owned by France’s Renault, said on Saturday some of its production had been hit by what appeared to be the global ransomware cyber attack that has infected computers in nearly 100 countries.

    Renault stopped production at several sites earlier on Saturday to prevent the spread of the cyber attack.

    “Part of Dacia’s production in Mioveni has been affected by disfunctionalities of IT systems and some employees were sent back home,” Dacia said in a statement. “The measure was taken to prevent extending the disfunctions, which at first glance are a consequence of the global cyber attack.”

  • Toyota’s new SUV C-HR becomes best-selling model in Japan

    Toyota’s new SUV C-HR becomes best-selling model in Japan

    Toyota Motor’s newly launched C-HR crossover sports utility vehicle grabbed the top spot in monthly domestic sales in April, becoming the first SUV to top the list in Japan since at least 2007, data from industry bodies showed on Tuesday.

    The country’s largest carmaker by volume sold 13,168 units of the C-HR subcompact crossover in the reporting month. The Japan Automobile Dealers Association and the Japan Light Motor Vehicle and Motorcycle Association said the model rolled out last December is the first SUV to become the best-selling model since they began compiling data in 1968 and 2007 respectively.

    The C-HR, which uses the same platform as its popular gasoline-electric hybrid car Prius, attracts fuel-cost sensitive customers with its fuel-efficiency. Its hybrid model runs 30.2 kilometres per liter of gasoline, among the best in the segment. Toyota plans to market the model in over 100 countries on the back of growing demand for compact SUVs worldwide.

    Honda Motor’s minicar N-Box came in second with 12,265, up 4.9% from the same month last year, ceding the crown to the C-HR after maintaining the No. l position for four consecutive months through March. The Move minicar of Daihatsu Motor  — Toyota’s subsidiary — was third, as sales of the minicar model more than doubled to 12,004 units in the month.

    Five minivehicle models with engines no larger than 660 cc made it into the top 10 ranking, according to the two associations, as they continue to entice customers with a relatively low tax levied on them and their fuel-economy.

    Daihatsu’s Tanto minivehicle ranked fourth with 11,926 units, up 8.5%, followed by Toyota’s Prius hybrid, the best seller in 2016, with 9,920 units, down 52.2%.

  • Daimler drops bid to win approval to sell U.S. 2017 Mercedes diesels

    Daimler drops bid to win approval to sell U.S. 2017 Mercedes diesels

    German automaker Daimler said on Tuesday it had dropped plans to seek U.S. approval to sell 2017 Mercedes-Benz U.S. diesel models, but had not decided whether to exit the American passenger diesel market.

    “We constantly review our portfolio offerings and make adjustments to meet immediate customer need,” Mercedes-Benz USA spokesman Rob Moran said in an email. “Combined with the increased effort to certify diesel engines in the U.S., we have put the certification process for diesel passenger cars on hold.”

    There has been growing scrutiny of diesel vehicles in the United States since Volkswagen AG admitted in September 2015 to installing secret software on 580,000 U.S. vehicles that allowed them to emit up to 40 times legally allowable emissions.

    VW was sentenced in April after pleading guilty in the emissions scandal. In total, VW has agreed to spend up to $25 billion in the United States to address claims from owners, environmental regulators, states and dealers and offered to buy back about 500,000 polluting U.S. vehicles.

    Last month, Daimler said investigations by authorities of diesel emissions and auxiliary emission control devices could lead to significant penalties and recalls.

    The U.S. Justice Department, EPA, California Air Resources Board and a prosecutor in Stuttgart, Germany, are investigating emissions of Mercedes-Benz diesel vehicles.

    In March, the Stuttgart prosecutor launched an investigation against Daimler employees on suspicion of fraud and misleading advertising tied to vehicle emissions.

    The company told in October that it planned to seek approval to sell four U.S. Mercedes diesel models for the 2017 model year. Last year, Mercedes-Benz offered four U.S. diesel models.

    In April, Dietmar Exler, president and chief executive of Mercedes-Benz USA, told reporters the company had not made a decision “one way or the other” on the future of U.S. diesel sales.

    Moran said diesel vehicles in the U.S. in 2016 accounted for less than 1 percent of U.S. sales and the company could still opt to seek 2017 certification at a later date. The company is “leaving the door open to offer diesels as a potential option in our passenger cars and SUVs.”

    Daimler won approval in late April to sell U.S. diesel Sprinter commercial vans after months of talks with regulators.

    In January, the EPA and CARB accused Fiat Chrysler Automobiles NV of illegally using software to allow excess diesel emissions from 104,000 U.S. trucks and SUVs. Regulators have refused to grant Fiat Chrysler approval to sell 2017 U.S. diesel models.

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  • Subaru sees flat profit this year on higher costs, below expectations

    Subaru sees flat profit this year on higher costs, below expectations

    Subaru on Tuesday forecast a flat operating profit this year, undershooting market estimates and sending its share price lower, as the Japanese automaker expects rising incentive-related costs and research expenses to offset higher sales.

    Subaru, which changed its name from Fuji Heavy Industries in April, said it expected operating profit to ease 0.2 percent to 410.0 billion yen ($3.62 billion) in the year to March. That was below a mean estimate of 538.5 billion yen from 19 analysts polled by Thomson Reuters I/B/E/S.

    Shares in Japan’s No. 7 automaker fell 4.2 percent after the announcement, hitting their lowest in nearly two weeks.

    Subaru posted an operating profit of 410.8 billion yen in the year ended March, down 27.4 percent on the year, as higher costs from the recall of Takata Corp’s air bags and a stronger currency offset a jump in sales.

    Subaru said it expected net profit of 285.0 billion yen this year, up 0.9 percent from last year.

    It expects to sell around 1.11 million vehicles globally this year, a record high and up from around 1.07 million in the year just ended. The automaker sees a 3 percent rise in sales in the United States, where the automaker has carved out a niche in family cars.

    The maker of the Outback SUV crossover and the Legacy and Impreza sedans has ramped up production of its cars in the United States, where it sells around 60 percent of its global production.

    Subaru is assuming an average dollar rate of 110 yen for the current year, anticipating a stronger yen over the year compared with the currency pair’s trading rate of around 113 yen on Tuesday.

    While the automaker has been increasing localised production in the United States, it continues to produce the majority of its vehicles in Japan, making it vulnerable to currency swings.

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  • The Serious Fraud between Roll Royce with Countries Including Indonesia

    The Serious Fraud between Roll Royce with Countries Including Indonesia

    Rolls-Royce Holdings doesn’t expect to take a hit from the investigation into the company’s audits, according to finance chief Stephen Daintith. The Financial Reporting Council, the U.K. regulator for corporate governance and reporting, said Thursday it has commenced an investigation into the conduct of KPMG Audit PLC related to the auditing of financial statements for two company entities over a four year time period.

    The FRC decision follows an announcement by the Serious Fraud Office in January of a deferred prosecution agreement between the SFO and Rolls-Royce. U.K. fraud investigators said at the time Rolls-Royce engaged in illegal business practices over a period spanning three decades and would pay more than $800 million in fines. The SFO has done a “thorough piece of work”, Mr. Daintith said.

    In February, the company reported a record loss of £4.03 billion ($5.2 billion). KPMG said Thursday it was “confident in the quality of all the audit work” it performed for the aircraft engine maker.

    “It is important that regulators acting in the public interest should review high profile issues. We will co-operate fully with the FRC’s investigation, which follows the SFO’s investigations into Rolls-Royce,” said the auditor in a statement. Jimmy Daboo, partner at KPMG, said “we have confidence in the audits we’ve done.”

    The illegal payments would have been hard for an external auditor to spot, said Sandy Morris, an equity analyst at Jefferies International Ltd. in London. “Most of these payments were small and it is very unlikely KPMG would have selected these cash transactions to be tested during their audit,” Mr. Morris said.

    On average, Rolls-Royce made payments between $1 million and $4 million, he said. As KPMG only tested a proportion of Rolls-Royce transactions during its audit, chances are high it would have missed these payments, especially as they were often obfuscated and conducted by middle managers, Mr. Morris said.

    The Serious Fraud Office said the January agreement covers 12 counts of conspiracy to corrupt, false accounting and failure to prevent bribery. Wrongdoing took place in business dealings in Indonesia, Thailand, India, Russia, Nigeria, China and Malaysia, the U.K. government said.

  • Ferrari Q1 beats expectations, shares up by 3%

    Ferrari Q1 beats expectations, shares up by 3%

    Italian luxury sportscar maker Ferrari reported a better-than-expected 36 percent rise in first-quarter core earnings on Thursday and confirmed its full-year guidance, lifting shares up more than 3 percent.

    Ferrari said adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) in January-March rose to 242 million euros ($265 million), above a Thomson Reuters SmartEstimate consensus of 222 million euros.

    Quarterly revenues were up 22 percent to 821 million euros, above expectations of 767 million euros, helped by sales of its 12 cylinder models such as the GTC4Lusso and the newly-launched LaFerrari Aperta hybrid convertible.

  • Tesla must complete brake fix to regain top safety rating

    Tesla must complete brake fix to regain top safety rating

    Tesla needs to complete fixing its Model S sedan emergency braking system to regain Consumer Reports’ top safety rating, the magazine said on Friday, noting that a recent update by the luxury electric car maker was not enough.

    The magazine, which provides an annual rating of vehicles sold in the United States, said on Wednesday the sedan had lost its top ranking in the ultra-luxury car category for failing to install the feature that it had promised to owners as standard equipment.

    The Model S fell to third place in Consumer Reports’ ratings behind the Lexus LS made by Toyota Motor Corp and the BMW 7 Series.

    Consumer Reports said both Tesla models previously came with standard automatic emergency braking (AEB), a feature that helps reduce accidents. The software issue affects more recent vehicles built since late October 2016.

    The magazine said Friday that the Model S sedan it owns had received an automatic emergency braking software update Thursday, but the new version only operates up to 28 miles per hour (45 km).

    That is far less than the current 90 mile per hour limit for the prior Tesla AEB system included on vehicles built before late October.

    The magazine cited a statement from Tesla that “over the next several weeks” the car maker would increase the speed limit “until it is the most capable of any vehicle in the world.”

    The California automaker last week recalled 53,000 Model S and Model X vehicles to fix an unrelated parking brake issue.

    Earlier this month, Tesla briefly edged out General Motors Co to become the most valuable U.S. car maker.

  • Fiat Chrysler may add more self-driving supplier partners

    Fiat Chrysler may add more self-driving supplier partners

    Fiat Chrysler Automobiles may seek more supplier partners to help it develop and build self-driving vehicles, Chief Executive Officer Sergio Marchionne said on Wednesday.

    The Jeep and Ram brands are strong enough to exist as standalone entities outside FCA, Marchionne also said on a conference call with analysts after the company reported record first-quarter results. But he did not elaborate on whether there were any plans for a spin-off of either, like with Ferrari.

    The automaker reported an 11 percent jump in first-quarter operating profit, boosted by strong sales in North America, its most profitable market. Shares jumped about 10 percent on the news.

    FCA currently has a partnership with Alphabet Waymo self-driving unit. Marchionne said Waymo has an “unbeatable solution” to help build self-driving vehicles, including versions of the Chrysler Pacifica hybrid minivan, but that FCA is looking at additional partners.

    “Between now and the next three years, we need to provide viable solutions to take people around,” Marchionne said, citing Waymo’s new test program in Phoenix offering ride sharing in self-driving Pacificas.

    But FCA is considering more partners “because banking all of our solutions on one possible outcome is going to be disastrous,” Marchionne said. FCA continues to work with Waymo “in a very intense way,” he said, but “we need to look at optionality in more than one dimension” to build self-driving cars.

    FCA is retooling several U.S. plants to produce redesigned versions of the popular Jeep Wrangler and Ram 1500 pickup later this year and early next. Marchionne said the company would continue to produce several versions of the current models for several months in 2018 after the new versions begin production.

    New models from premium brands Maserati and Alfa Romeo should help boost FCA’s gross margins. Marchionne said Alfa, long a cash drain on the company, could be profitable in the fourth quarter, while Maserati has returned double-digit margins over the past three quarters. Both brands have launched new luxury utility vehicles in the United States.

    Marchionne said FCA hopes to resolve emissions certification issues “in a few weeks” with the U.S. Environmental Protection Agency and the California Air Resources Board.

    In the meantime, he said FCA will try to meet future emissions regulations without relying so heavily on diesel engines, but with a combination of gasoline engines and electric motors.

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  • Peugeot first quarter revenue rose 4.9 percent as new models offset forex impact

    Peugeot first quarter revenue rose 4.9 percent as new models offset forex impact

    French carmaker PSA Group’s first-quarter revenue rose 4.9 percent, the maker of Peugeot, Citroen and DS models said on Wednesday, as new models helped offset the effect of weak sales growth and a negative exchange-rate impact.

    Revenue rose to 13.63 billion euros ($14.92 billion) from 13 billion a year earlier, the Paris-based company said. Revenue at the core automotive division rose 2.5 percent to 9.02 billion euros.

    PSA also lifted its full-year market outlook to a 1 percent expansion in Europe and 2 percent in Latin America, having previously forecast flat demand in both regions.

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  • Indian cars cheapest, French most expensive in Vietnam

    Indian cars cheapest, French most expensive in Vietnam

    For many Vietnamese, Indian cars prove to be the best choice. The products are described as ‘unprecedentedly low’ with the import price of VND84 million, CIF, not including tax.

    A GDC report shows that in January 2017, Vietnam imported 5,425 cars, worth $97 million, an increase of 120.8 percent in quantity and 92 percent in value compared with the same period last year.

    The report showed the sharp increase of 233 percent in imports form ASEAN with 3,408 cars imported, accounting for 62.8 percent of less-than-nine-seat imports, which were mostly from either Thailand or Indonesia. These included 1,585 cars from Thailand, worth $31 million, an increase of 55 percent in quantity and 209 percent in value.

    The number of cars from Indonesia increased unexpectedly to 1,823, worth $35 million. Only one car came from the market last year, worth $10,000.

    From January 1, 2017, the tariff on CBU less-than-nine-seat cars from ASEAN was cut from 40 percent to 30 percent.

    A car dealer said the import volume increased sharply because domestic automobile manufacturers have stopped making some car models in Vietnam, such as Fortuner and Civic, but import them from ASEAN to sell domestically.

    The public is more concerned with the appearance of a new source of supply – India. 1,006 cars from India docked at Vietnam’s ports in January, with the average price of $3,708, or VND84 million only. However, Indian imports cannot enjoy preferential tariffs like products from ASEAN.

    In mid-2016, the average import price was VND160 million. The figure decreased to VND100 million in late 2016 and then to VND84 million in January 2017.

    Contrary to all predictions, the most expensive imports are the ones from France, not from Germany or the UK, which produce many luxury brands.

    Only six CBU cars from France were imported to Vietnam in January 2017, worth $342,000, which means the average import price was $57,000, or VND1.3 billion.

    In Vietnam, the products of two French brands – Renault and Peugeot – are distributed.

    Meanwhile, 27 cars from the UK came in January, worth $1.349 million, and 146 cars from Germany, worth $7.624 million, which meant the average import price was $52,220 for British cars and $49,998 for German cars.

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  • Jokowi optimistic of witnessing 10% growth in automotive industry

    Jokowi optimistic of witnessing 10% growth in automotive industry

    Indonesian President Joko Widodo (Jokowi) is optimistic that the automotive industry would attract more investors and grow over 10 percent annually.

    “Indonesias automotive industry is more competitive now and is growing on an average of more than 10 percent,” he remarked in Bekasi on Tuesday.

    President Jokowi expressed optimism in his remarks at the opening ceremony of PT Mitsubishi Motor Krama Yudha Indonesia (MMKI) at the Greenland International Center, Central Cikarang, Bekasi District, West Java.

    “With such a large market, I am certain that more investments will flow into the automotive sector of Indonesia, as we have a large market, and greater the investments, more employment opportunities will be available,” he emphasized.

    President Jokowi lauded Mitsubishi Motors commitment to increasing its investment by setting up a new plant in Indonesia, which will be able to offer jobs to around three thousand people.

    “This can provide employment to some three thousand people. Once again, three thousand job opportunities,” the president pointed out.

    Hence, Jokowi is committed to easing the flow of investments, particularly in the automotive sector, considering its impacts on the economic growth.

    “The inflow of investments will create more job opportunities, and it means more people will have jobs,” he stated.

    However, the president highlighted the importance of the quality of human resources to meet the high standards of the automotive industry.

    He pointed out that the government is taking steps to boost economic development by providing skilled manpower through vocational schools.

    “Here, we will strengthen vocational education, vocational schools, as well as vocational training, entrepreneurship, and the labor market,” he affirmed.

    “The government will continue to implement policies that link and match or job matching between vocation and the industry,” the president noted.

    Investment in industry will also allow the transfer of technology and knowledge to Indonesia. Hence, President Widodo has urged the employees to use the opportunity extensively.

    “I hope you will also pay attention to the transfer of technology and knowledge. Continue conducting trainings for the local human resources, and it will be better if the Japanese work ethics, such as high discipline, can be imbibed by Indonesian human resources,” he said.

    “Do not hesitate to involve the Indonesian people in creating new innovations, as they are all actually smart,” added Jokowi.

    In addition, President Jokowi is optimistic that the automotive industry would begin developing its export market.

    “The local or domestic market is large, but we also need to focus on the export market to achieve a balance,” he pointed out.

    Some VIP guests also attended the opening ceremony with President Jokowi, including Minister of Industry Airlangga Hartarto, Minister of State Secretary Pratikno, Head of the Investment Coordinating Board Thomas Lembong, Vice Minister of Finance Mardiasmo, Vice Governor of West Java Deddy Mizwar, and Chairman of Mitsubishi Motors Carlos Ghosn.

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  • Japanese automakers strengthen grip on SE Asia

    Japanese automakers strengthen grip on SE Asia

    The Japanese auto industry maintained its strong grip on the vehicle markets of southeast Asia last year, according to exclusive data provided to just-auto.

    The Japanese carmakers’ combined sales in the region’s five main markets rose by an estimated 3.3% to 2.62 million units in 2016, for a market share of 84%, according to data supplied by AsiaMotorbusiness.com.

    The highest Japanese dominance is in Indonesia, the region’s largest market, where their combined share of sales rose to a staggering 98.5% by last year. In Thailand, the Japanese accounted for 88% of sales, while in Malaysia it was 78%, including sales of Perodua – a domestic brand which depends entirely on Daihatsu for its products.

    Competitors from elsewhere have tried and failed to gain a significant foothold in this region and in key markets the Japanese have only strengthened their grip in recent years.

    European manufacturers such as Mercedes-Benz and BMW, and to a much smaller extent Jaguar Land Rover, dominate the premium segments and this is set to continue. But this success does not extend to other segments of the market.

    Ford withdrew from Indonesia at the end of last year, choosing instead to focus on markets where it has a better chance of competing. It has had better luck in some of the smaller emerging markets such as Vietnam and the Philippines.

    GM’s efforts to break into the high-volume compact MPV segment in the region were short-lived. It closed its “Spin”MPV plant in Indonesia last year and is downsizing its product range in the region to include just pickup trucks and SUVs.

    Toyota dominates the ASEAN region, with sales in the five main markets estimated at 910,263 units in 2016 – for a market share of 29%. If combined with Daihatsu, upon which it relies heavily, and with its Hino subsidiary, Toyota group’s sales in the region rose to 1.355m units last year (including Perodua) – to account for more than 43% of sales.

    Toyota has been extremely successful in maximising synergies with Daihatsu in Indonesia, which is by far its largest market in the region and where it is responsible for 56% of total sales.

    Toyota has by far the largest range of vehicles in this market and has been at the forefront of the development of new market segments across the region, including low-cost green cars and small and medium MPVs and SUVs. It enjoys the best economies of scale and strongest pricing power.

    Honda has emerged as the second-best selling brand in the region in recent years, despite the company’s lack of a presence in the commercial vehicle segment. Its share of regional sales has risen from just over 8% in 2012 to almost 14% in 2016.

    Honda’s recent growth has been underpinned by its strong and successful product range expansion, particularly in the compact MPV and SUV segments. New models such as the Mobilio, H-RV and B-RV have proved to be extremely popular in markets such as Indonesia, where its sales and market share have almost tripled in since 2012.

    Not all Japanese automakers have enjoyed growing sales in the region. Nissan and Suzuki in particular have struggled to keep pace with their more successful rivals, while Mitsubishi/Fuso has also been impacted by weak commercial vehicle demand in key markets.

    In ASEAN’s smaller markets the Japanese dominance is not so overwhelming. Japanese brands accounted for 69% of total vehicles sales in the Philippines last year, while in Vietnam their combined share was below 50%.

    South Korean brands such as Hyundai and Kia have been more successful in penetrating these markets, as have Ford and GM. Chinese brands have also targeted in the commercial vehicle segments here with a degree of success.

    But one wonders whether it’s just a matter before the Japanese tighten their grip on these markets too.

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  • Apple self-driving car testing plan gives clues to tech program

    Apple self-driving car testing plan gives clues to tech program

    Apple Inc outlined a plan to train operators of self-driving cars in documents submitted to California regulators earlier this month, the latest clues to the company’s autonomous vehicle technology aspirations.

    Apple was granted a permit to test self-driving cars on April 14 by the California Department of Motor Vehicles but the company has never said anything about its plan.

    The state released 41 pages of Apple application documents to Reuters that give some clues about the company’s highly secret self-driving effort, which it has never openly acknowledged.

    The iPhone maker joins a long list of carmakers, start-ups and technology rivals, including Alphabet’s Waymo, that are testing cars on state roads. Apple is looking for new hit products and autonomous car technology is expected to revolutionize the traditional auto industry.

    As part of the application, Apple included a 10-page training plan that appeared to be related to operators taking back manual control of the car during automated driving exercises of the system, which it calls a development platform.

    Apple declined comment beyond the filing.

    The plan includes a document called “Automated System: Development Platform Specific Training Overview” whose objective is “to train safety drivers in various automated driving conditions.”

    “Development platform will be controlled electronically (e.g. joystick) and safety drivers must be ready to intervene and take control,” the document reads.

    The document highlights different scenarios to be tested, from high speed driving and tight U-turns to lane changes.

    One letter sent from Apple to the state Department of Motor Vehicles noted that Apple’s development platform “will have the ability to capture and store relevant data before a collision occurs.”

    The document does not include detail on how Apple’s self-driving platform actually works or other technical details. It also does not say what kind of sensors are found on Apple’s three permitted vehicles, all 2015 Lexus model RX450h.

    The permit does not necessarily mean that Apple itself is building a full car. Apple could instead be designing a self-driving platform that can be integrated into other manufacturer’s cars.

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  • Vietnam’s car imports jump 34 pct y/y in Q1 on tax cuts

    Vietnam’s car imports jump 34 pct y/y in Q1 on tax cuts

    Vietnam’s car imports have risen a staggering 34.4 percent from a year ago to 26,500 units, with more than half of them coming from low-tariff markets in Southeast Asia, customs figures show.

    The car import value in the first quarter edged up just 1 percent from the same period last year to $488 million, data from the General Customs Department showed.

    Cars from Southeast Asian countries totaled 14,460 units, accounting for 55 percent of the quarterly import volume and which jumped 67.6 percent from a year ago, the data show. The import from Indonesia increased five-fold.

    The strong purchase was fueled by large tariff cuts from major markets like Indonesia and Thailand, citing several importers. The import tariffs on cars from ASEAN countries have been cut to 30 percent as of January 2017, from 40 percent last year, before being fully removed in 2018.

    The tax cuts have helped reduce the retail price in Vietnam by 6-7 percent, the businesses said.

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  • Osram eyes acquisitions of up to $530 million

    Osram eyes acquisitions of up to $530 million

    German lighting company Osram is on the lookout for acquisitions worth up to 500 million euros ($530 million), although there are no specific plans for a deal as yet, its finance chief told Retail News.

    Osram wants to strengthen the areas of electronics and software within its automotive lighting unit and is looking for acquisition targets or partners, Ingo Bank told Boersen-Zeitung in an interview published on Saturday.

    Acquisitions for its Opto semiconductors unit would also be attractive if they opened up access to markets, he said.

    Osram has funds available after the sale of lamps division LEDvance, which brought in gross proceeds of about 500 million euros, and thanks to its strong balance sheet, Bank said.

    “We have a lot of firepower and the ability to act. However, we will not be making the error of buying for the sake of it,” the paper quoted him as saying.