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Cutting models from lineups seems to be the order of the day lately. Automakers like Nissan, General Motors, and Mercedes Benz, are in the process of hatcheting the heck out their lineups. Now comes the news from BMW. BMW has been struggling to make money on vehicles less than €40,000, due to fears of another global recession, a marked slowdown in the automotive sector, and Trump inspired trade wars, BMW is looking to cull options and models from their lineup. Gone will be many convertible variants, including the next Z4, the 2-series, 8-series (coupe and convertible). Also pushing up t
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Cutting models from lineups seems to be the order of the day lately. Automakers like Nissan, General Motors, and Mercedes Benz, are in the process of hatcheting the heck out their lineups. Now comes the news from BMW. BMW has been struggling to make money on vehicles less than €40,000, due to fears of another global recession, a marked slowdown in the automotive sector, and Trump inspired trade wars, BMW is looking to cull options and models from their lineup. Gone will be many convertible variants, including the next Z4, the 2-series, 8-series (coupe and convertible). Also pushing up t -
There's one disadvantage to being partially owned by the French, they know how to cut things off when they need to. We reported last week that due to lagging sales and plunging profits, Nissan was readying to layoff 12,500 employees globally, or 9% of their global workforce. It seems that other cuts are on the way as well, though we may not see as much of it here in the U.S. Along with the 9% cut in jobs will be around 10% of its global lineup as well. First to go will be the low-end models in developing markets like India. Their overseas brand Datsun could see the bulk of the cuts, but -
There's one disadvantage to being partially owned by the French, they know how to cut things off when they need to. We reported last week that due to lagging sales and plunging profits, Nissan was readying to layoff 12,500 employees globally, or 9% of their global workforce. It seems that other cuts are on the way as well, though we may not see as much of it here in the U.S. Along with the 9% cut in jobs will be around 10% of its global lineup as well. First to go will be the low-end models in developing markets like India. Their overseas brand Datsun could see the bulk of the cuts, but -
Rumors are swirling that Volkswagen may be cutting most of the Golf lineup from the US market with the next generation of Golf. The standard version of the Golf, e-Golf, Golf SportWagen, and Golf Alltrack would be dropped in the US while the GTI and Golf R continue on. The e-Golf will be replaced by something in the ID lineup. Looking at the sales numbers, it is easy to see why Volkswagen may make this move. Sales of the base Golf in 2018 numbered just 6,642, down 51% from the year prior. GTI and Golf R combined sold more than triple that amount (20,152). The one head-scratcher is the
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Rumors are swirling that Volkswagen may be cutting most of the Golf lineup from the US market with the next generation of Golf. The standard version of the Golf, e-Golf, Golf SportWagen, and Golf Alltrack would be dropped in the US while the GTI and Golf R continue on. The e-Golf will be replaced by something in the ID lineup. Looking at the sales numbers, it is easy to see why Volkswagen may make this move. Sales of the base Golf in 2018 numbered just 6,642, down 51% from the year prior. GTI and Golf R combined sold more than triple that amount (20,152). The one head-scratcher is the -
Following a dismal fall in sales in the previous two quarters, Tesla has sacked several dozen employees in stores in Chicago, New York, and Tampa last week according to a report in Bloomberg. These cuts are the latest in a series of cuts to Tesla's retail staff that Tesla had announced earlier in the year. At first, Tesla had announced it would close most of its retail locations and moving to an entirely online retail model. They later changed course and dialed back the reductions with the caveat that some locations would still be closing. Tesla then raised the prices on the more expensive M
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Following a dismal fall in sales in the previous two quarters, Tesla has sacked several dozen employees in stores in Chicago, New York, and Tampa last week according to a report in Bloomberg. These cuts are the latest in a series of cuts to Tesla's retail staff that Tesla had announced earlier in the year. At first, Tesla had announced it would close most of its retail locations and moving to an entirely online retail model. They later changed course and dialed back the reductions with the caveat that some locations would still be closing. Tesla then raised the prices on the more expensive M -
Ford will exit Russia's passenger car market and focus solely on the light commercial vehicle market says a report from Bloomberg. Alligned with those moves, Ford will cease production in the country at two vehicle assembly plants. Those plants will close by the end of June 2019. Ford produces the Focus, Mondeo, Fiesta, and Ecosport in Russia. These cuts will cause significant job losses for Russia. This move comes after Ford announced as many as 6,000 job cuts in Germany and the UK and cut jobs at a transmission factory in France. Honda, Nissan, and BMW have all recently annou
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Ford will exit Russia's passenger car market and focus solely on the light commercial vehicle market says a report from Bloomberg. Alligned with those moves, Ford will cease production in the country at two vehicle assembly plants. Those plants will close by the end of June 2019. Ford produces the Focus, Mondeo, Fiesta, and Ecosport in Russia. These cuts will cause significant job losses for Russia. This move comes after Ford announced as many as 6,000 job cuts in Germany and the UK and cut jobs at a transmission factory in France. Honda, Nissan, and BMW have all recently annou -
Tesla announced yesterday that it will reduce production hours for the Model S and Model X. This follows news of Tesla cutting seven percent of their workforce and dropping 75D variants of the S and X. “We recently announced that we are no longer taking orders for the 75 kWh version of Model S and X in order to streamline production and provide even more differentiation with Model 3. As a result of this change and because of improving efficiencies in our production lines, we have reduced Model S and X production hours accordingly,” Tesla said in a statement to Bloomberg. According to
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Tesla announced yesterday that it will reduce production hours for the Model S and Model X. This follows news of Tesla cutting seven percent of their workforce and dropping 75D variants of the S and X. “We recently announced that we are no longer taking orders for the 75 kWh version of Model S and X in order to streamline production and provide even more differentiation with Model 3. As a result of this change and because of improving efficiencies in our production lines, we have reduced Model S and X production hours accordingly,” Tesla said in a statement to Bloomberg. According to -
Ford wasn't the only automaker to announce cuts this week. On Thursday, Jaguar Land Rover announced they would cutting 10 percent of their global workforce (4,500 jobs) as part of a 2.5 billion pound (about $3.2 billion) effort to reduce costs and improve cash flow through 2020. As we reported last month, JLR got hit with a triple whammy of bad news; declining sales in China, falling demand for diesel vehicles, and the looming threat of Brexit. The company reported that retail sales fell 4.6 percent in 2018, mostly due to the uncertainty surrounding Brexit. That pales in -
Jaguar Land Rover Unveils their Cuts Totaling 2.5 Billion Pounds
William Maley posted an article in Jaguar
Ford wasn't the only automaker to announce cuts this week. On Thursday, Jaguar Land Rover announced they would cutting 10 percent of their global workforce (4,500 jobs) as part of a 2.5 billion pound (about $3.2 billion) effort to reduce costs and improve cash flow through 2020. As we reported last month, JLR got hit with a triple whammy of bad news; declining sales in China, falling demand for diesel vehicles, and the looming threat of Brexit. The company reported that retail sales fell 4.6 percent in 2018, mostly due to the uncertainty surrounding Brexit. That pales in -
This past year hasn't been good for Jaguar Land Rover. A triple whammy of sales dropping in China, demand for diesel vehicles falling, and the looming threat of Brexit has seen the company report a 90 million pound (about $113,550,300) loss in the third-quarter. S&P Global Ratings recently cut their long-term rating into JLR's parent company, Tata Motors into Junk Status. Because of this, Jaguar Land Rover will be detailing a three-year cost-cutting plan next month. Tata announced the plan back in October that would save 2.5 billion pounds (about $3.2 billion) within the first 18 mont -
This past year hasn't been good for Jaguar Land Rover. A triple whammy of sales dropping in China, demand for diesel vehicles falling, and the looming threat of Brexit has seen the company report a 90 million pound (about $113,550,300) loss in the third-quarter. S&P Global Ratings recently cut their long-term rating into JLR's parent company, Tata Motors into Junk Status. Because of this, Jaguar Land Rover will be detailing a three-year cost-cutting plan next month. Tata announced the plan back in October that would save 2.5 billion pounds (about $3.2 billion) within the first 18 mont
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Rumorpile: China May Reduce Tariffs On U.S.-Made Cars
William Maley posted an article in Automotive Industry
The Chinese government is considering a proposal to reduce tariffs on U.S.-Built vehicles from the current 40 percent back down to the 15 percent before the trade war broke out between it and the U.S. Sources tell Bloomberg a proposal has been submitted to the cabinet to be reviewed in the coming days. This proposal stems from a trade summit in Buenos Aires where U.S. President Donald Trump and Chinese President Xi Jinping agreed to a 90-day truce on the trade war earlier this month. After the meeting, Trump tweeted out that "China agreed to “reduce and remove” tariffs on imported America -
The Chinese government is considering a proposal to reduce tariffs on U.S.-Built vehicles from the current 40 percent back down to the 15 percent before the trade war broke out between it and the U.S. Sources tell Bloomberg a proposal has been submitted to the cabinet to be reviewed in the coming days. This proposal stems from a trade summit in Buenos Aires where U.S. President Donald Trump and Chinese President Xi Jinping agreed to a 90-day truce on the trade war earlier this month. After the meeting, Trump tweeted out that "China agreed to “reduce and remove” tariffs on imported America
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General Motors Announces Job Cuts and Plant Shutdowns in North America
William Maley posted an article in GM News
This morning, General Motors announced an overhaul of its operations in 2019 which will involve cutting more than 10,000 workers and possibly closing five plants by the end of the year. GM said the cuts should boost cash flow by six billion by the end of 2020. “The actions we are taking today continue our transformation to be highly agile, resilient and profitable, while giving us the flexibility to invest in the future. We recognize the need to stay in front of changing market conditions and customer preferences to position our company for long-term success,” said GM Chairman and CEO Mary- 239 comments
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This morning, General Motors announced an overhaul of its operations in 2019 which will involve cutting more than 10,000 workers and possibly closing five plants by the end of the year. GM said the cuts should boost cash flow by six billion by the end of 2020. “The actions we are taking today continue our transformation to be highly agile, resilient and profitable, while giving us the flexibility to invest in the future. We recognize the need to stay in front of changing market conditions and customer preferences to position our company for long-term success,” said GM Chairman and CEO Mary
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Toyota isn't immune to the falling sales of passenger vehicles as more buyers trend towards trucks and SUVs. In the first ten months of this year, cars are down 11.1 percent. Meanwhile, trucks are up 7.7 percent. This has the Japanese automaker considering dropping some models. "We are taking a hard look at all of the segments that we compete in to make sure we are competing in profitable segments and that products we sell have strategic value," said Jim Lentz, Toyota's North America CEO after the automaker reported an increase in quarterly profits. Unlike Ford which is revamping its
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Toyota is "Taking a Hard Look" At Their U.S. Lineup, May Cut Some Models
William Maley posted an article in Toyota
Toyota isn't immune to the falling sales of passenger vehicles as more buyers trend towards trucks and SUVs. In the first ten months of this year, cars are down 11.1 percent. Meanwhile, trucks are up 7.7 percent. This has the Japanese automaker considering dropping some models. "We are taking a hard look at all of the segments that we compete in to make sure we are competing in profitable segments and that products we sell have strategic value," said Jim Lentz, Toyota's North America CEO after the automaker reported an increase in quarterly profits. Unlike Ford which is revamping its -
The One Ford plan brought in by former CEO Alan Mulally helped the automaker weather through some very tough times. A key part of this plan was cutting back on the number of architectures used around the world - from 30 to nine. But Ford is planning to go further with reducing them. Last week, Ford's head of product development and purchasing, Hau Thai-Tang revealed the company will be reducing the number of platforms to just five. "This is not saying One Ford was wrong. This is building on the strategy of One Ford and evolving from it," said Thai-Tang at the 2018 J.P. Morgan Auto Co -
The One Ford plan brought in by former CEO Alan Mulally helped the automaker weather through some very tough times. A key part of this plan was cutting back on the number of architectures used around the world - from 30 to nine. But Ford is planning to go further with reducing them. Last week, Ford's head of product development and purchasing, Hau Thai-Tang revealed the company will be reducing the number of platforms to just five. "This is not saying One Ford was wrong. This is building on the strategy of One Ford and evolving from it," said Thai-Tang at the 2018 J.P. Morgan Auto Co
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In a staff-wide email sent today, Tesla CEO announced that the company would be laying off nine percent of its staff across the company. The cuts comes as part of "an effort to reduce costs and become profitable.” “Given that Tesla has never made an annual profit in the almost 15 years since we have existed, profit is obviously not what motivates us. What drives us is our mission to accelerate the world’s transition to sustainable, clean energy, but we will never achieve that mission unless we eventually demonstrate that we can be sustainably profitable. That is a valid and fair criticism
