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Nearly half of Ford dealers said they have "no trust" in their franchise in new survey. Ford dealers have had a tough year balancing EV demand. AdvertisementAdvertisementIt's been a tough year for Ford dealers, and it's becoming clear some are losing patience. Ford came in dead last in a recent survey on dealers' level of trust in their franchises, with 46% of Ford dealers surveyed by Kerrigan Advisors saying they had "no trust" in their franchise. This breakdown in trust and pessimism about the future shouldn't come as too much of a surprise after the year Ford dealers have had.
Persons: Ford, , Kerrigan, Elon Musk, Cameron Johnson, Martin French Organizations: Ford, Service, Kerrigan Advisors, Survey, Magic City Auto Group, Nissan, Lincoln, Toyota, Lexus, Subaru Locations: Virginia
CNN —Stellantis’ new Ramcharger pickup, expected to go on sale late next year, will be an “electric” truck, the company says. It will be sold alongside the Ram REV, the company’s actual fully-electric truck, expected to go on sale around the same time. Tim Kuniskis, the head of Stellantis’ Ram truck brand, insisted during a press conference that the Ram 1500 Ramcharger is not a plug-in hybrid. Also, the Ram truck can use DC fast chargers to quickly recharge its batteries. Ram previously unveiled an electric-only truck, the Ram REV, which will also go on sale late next year.
Persons: Tim Kuniskis, Stellantis ’, Ramcharger, Ram, Kuniskis, , , Carlos Tavares, Stellantis hasn’t Organizations: CNN, Toyota Prius, Chevrolet, Toyota Camry, Ford, General Motors
REUTERS/Rebecca Cook/File Photo Acquire Licensing RightsWASHINGTON, Nov 7 (Reuters) - Four large pickup trucks fared poorly in tests measuring how rear seat passengers fare in some crashes, the Insurance Institute for Highway Safety said Tuesday. "Like most other vehicle classes, large pickups don't perform as well in the new moderate overlap evaluation as they do in the updated side test," said IIHS President David Harkey. IIHS said front seat safety has been boosted by improved airbags and advanced seat belts typically not available in the rear. The updated test uses a heavier barrier traveling at a higher speed to simulate the striking vehicle. In traffic crashes in 2021, 60% of pickup drivers who were killed were unrestrained - higher than other categories of vehicles.
Persons: Rebecca Cook, IIHS, Ram, David Harkey, Stellantis, David Shepardson, Christopher Cushing Organizations: Ford Motor Company, North American, REUTERS, Rights, Insurance Institute for Highway Safety, Ford, General Motors, Silverado, Toyota, Thomson Locations: Detroit , Michigan, U.S
A Toyota logo is seen during the New York International Auto Show, in Manhattan, New York City, U.S., April 5, 2023. REUTERS/David 'Dee' Delgado/File Photo Acquire Licensing RightsTOKYO, Nov 6 (Reuters) - Japan's Nippon Telegraph and Telephone (NTT) (9432.T) plans to test driverless vehicle technology with Toyota Motor (7203.T) and invest in a U.S. startup developing self-driving systems, a spokesperson for the telecommunications firm said on Monday. The Nikkei newspaper first reported on Monday that NTT will invest in May Mobility, adding that both NTT and Toyota would jointly develop vehicles. Both the NTT spokesperson and a Toyota spokesperson said they had no plans for joint development. Cruise late that month suspended all driverless vehicle operations in the United States following an accident that led California regulators to order the company to remove its driverless cars from state roads.
Persons: David, Dee, Delgado, Cruise, Daniel Leussink, Maki Shiraki, Satoshi Sugiyama, Louise Heavens, Christina Fincher Organizations: New York, REUTERS, Rights, Japan's Nippon, Telephone, NTT, Toyota Motor, Nikkei, Toyota, Mobility, Tokio, Honda, General Motors, Cruise, Thomson Locations: Manhattan , New York City, U.S, Japan, Michigan, United States, California
Tesla is giving 11,000 staff at its Berlin Gigafactory a 4% pay rise, per the WSJ. Tesla workers in Sweden are already on strike, while the UAW wants to recruit members. AdvertisementAdvertisementTesla is giving workers at its Berlin Gigafactory a pay rise as unions eye the EV manufacturer, The Wall Street Journal reported. But the pay rise also comes at a shaky time for Tesla management. AdvertisementAdvertisementLast month, IG Metall said union signups from Tesla workers had surged, and accused the company of failing to follow health and safety protocol.
Persons: Tesla, , Elon Musk's, Rishi Sunak, IG, Metall, Shawn Fain Organizations: UAW, Service, Street Journal, The, AI, British, Reuters, Germany's, United Auto Workers, Detroit, General Motors . ", Tesla, Toyota, Honda, CNBC Locations: Berlin, Sweden
Drivers told Insider the tiny car is a "blast" to drive and perfect for driving in busy cities. AdvertisementAdvertisementJapan's best-selling EV is a tiny car that sells for just $13,000 — and drivers have told Insider exactly what they like best about it. "A smaller electric car is more sustainable and suits a lot of people's actual driving needs. I think that's at least partly why bigger electric cars, like Teslas, are not so popular here," he added. "I think Japanese automakers underestimated the appeal of electric cars here for a long time," he said.
Persons: Nissan Sakura, , Sakura, Nissan, Michael Brown, Brown, Michael, RICHARD A, BROOKS, Tesla Organizations: Nissan, Drivers, EV, Service, Bloomberg, Mitsubishi, Reddit, Toyota, Honda, Suzuki Locations: Japan, Higashimurayama City, Tokyo
The authorities have opened a hate crime investigation into the report of a hit-and-run on Friday that left an Arab Muslim student injured at Stanford University. hit the student on the campus in Stanford, Calif., just before 2 p.m. A spokeswoman for Stanford University said in an email that campus authorities issued information to the campus community as soon as they had enough details to do so. Columbia recently closed its campus to the public amid tensions between pro-Israel and pro-Palestinians protesters, and Cornell canceled classes last week after antisemitic threats. In the wake of the hit-and-run report, Stanford’s public safety department said that it was deploying additional security at “key locations” on campus.
Persons: , Richard Saller, Jenny Martinez, Israel Organizations: Stanford University, Calif, Toyota, Stanford, Sheriff’s, California, Patrol, Hamas, Harvard, Israel, Cornell Locations: Arab, Stanford, Santa Clara, Gaza, Israel, Columbia
[1/2] United Auto Workers President Shawn Fain greets workers at the Stellantis Sterling Heights Assembly Plant, to mark the beginning of contract negotiations in Sterling Heights, Michigan, U.S. July 12, 2023. The UAW released more details of its tentative 4-1/2 year deal with GM <on Saturday. Temporary workers will have a faster path to full-time status and could see wages rise by about 50% immediately. The GM agreement will move more than 7,000 UAW workers in GM component plants, service parts warehouses and what GM calls "subsystems" operations up to the higher wage levels paid to assembly plant workers. "This contract has wage increases and economic gains like nothing we've ever seen before," UAW Vice President Mike Booth said.
Persons: Shawn Fain, Rebecca Cook, Mike Booth, Fain, Joe White, Ben Klayman, Matthew Lewis Organizations: United Auto Workers, Sterling Heights Assembly, REUTERS, Rights DETROIT, General Motors, UAW, GM, Detroit, Ford, Chrysler, Auto, Toyota, Honda, Volkswagen, Hyundai, Tesla, Thomson Locations: Sterling Heights, Sterling Heights , Michigan, U.S, Lordstown , Ohio, Orion, Michigan, Spring Hill , Tennessee, Detroit, Bengaluru
CNN —At least five possible hate crime incidents at Stanford University since the Israel-Hamas war’s onset are under investigation, including an apparent hit-and-run crash involving an Arab Muslim student, according to the university’s public safety department. The California Highway Patrol, which investigates all injury traffic incidents on campus, is investigating the hit-and-run as “a potential hate crime,” according to the release. This incident is being investigated by the Department of Public Safety as a crime motivated by hate,” a message on the site read. School authorities say the second student also allegedly said “disgusting” before attempting to spit at the student by the display. The university said its public safety officials are also looking into the incident as a hate-motivated crime.
Persons: , , Richard Saller, Jenny Martinez, “ Stanford Organizations: CNN, Stanford University, Stanford Department of Public Safety, Patrol, Toyota, Stanford, Islamic, San Francisco, California, Department of Public Safety, Palo Alto, tote Locations: Israel, California, San Francisco Bay, Palestine
Ford envisions at least three new electric vehicles that will preserve jobs at several factories. Those and other closely held production plans by Detroit's automakers have emerged in details of the tentative contract agreements that ended the six-week strikes by the United Auto Workers union. The UAW's success in gaining commitments from the companies to build new electric vehicles at several factories represented a particular achievement. The automakers have all embraced the transition to electric vehicles as a large-scale and long-term commitment. And not all the companies’ production plans under the contract, of course, involve electric vehicles.
Persons: , Biden, What's, Ford, Stellantis, ___ Veiga Organizations: DETROIT, Ford, General Motors, Detroit's automakers, United Auto Workers, Workers, EVs, EV, Dodge, Jeep, Cherokee, UAW, Kentucky, Plant, Expedition, Lincoln Navigator, Lincoln, Ohio Assembly Plant, Hill Assembly, Honda, Chevrolet Silverado, GMC Sierra, Fairfax Assembly Plant, GM, Detroit automakers, Toyota Tacoma Locations: Belvidere , Illinois, Toledo, Warren , Michigan, Sterling Heights , Michigan, Detroit, Dodge Durango, Rouge, Dearborn , Michigan, Louisville, Cleveland, Rock , Michigan, Hill, Hill Assembly Plant, Tennessee, Orion Township , Michigan, Fairfax, Kansas City , Kansas, Lansing , Michigan, Los Angeles
Christopher Bell was set to represent JGR in the championship four, but rumors were flying that the entire organization might pull out of the race. Coy Gibbs, the vice chairman of the organization, son of team owner Joe Gibbs and Ty's father, had been found dead in his hotel room that morning and the team was in chaos. Joey Logano won the race and his second title, while Bell finished a distant 10th in the race and third in the championship standings. Stevens felt once the race began the team was able to focus on trying to win the title. If you have a weak part of your race team, the playoffs will find it.”___AP auto racing: https://apnews.com/hub/auto-racing
Persons: Joe Gibbs, Gibbs, Ty Gibbs, Christopher Bell, Coy Gibbs, Ty's, , Adam Stevens, Stevens, Kyle Busch, Bell, Joey Logano, , ” Bell, you've, ” Stevens, Ryan Blaney, William Byron, Kyle Larson, Larson, Blaney, Byron, J.D, Coy, Heather, Busch, we’ve, ” Gibbs Organizations: Phoenix Raceway, JGR, Bell, Toyota Locations: AVONDALE, Ariz, prepping
DETROIT (AP) — Toyota isn’t telling owners of 1.9 million recalled RAV4 SUVs to park them outdoors even though U.S. safety investigators have four complaints about engine fires that can start with the vehicles' ignitions turned off. In addition, the agency has eight reports of fires that started on the driver's side of the engine compartment where the battery is located. Four reports said “thermal events” happened with the ignition off, indicating that it may be wise for owners to park the SUVs outdoors until they can be repaired. But Toyota spokesman Aaron Fowles said the company is not advising people to park the RAV4s outdoors. Documents posted Friday by the safety agency say that Toyota has found 22 "field technical reports" in the U.S.
Persons: , ignitions, Aaron Fowles, haven't, ” Toyota Organizations: DETROIT, — Toyota, Traffic, Administration, Toyota, U.S, NHTSA Locations: RAV4s, U.S
John J. Kim | Tribune News Service | Getty ImagesDETROIT – United Auto Workers President Shawn Fain wants to expand the union's battle from the Detroit automakers to Tesla , Toyota Motor and other non-unionized automakers operating in the U.S. The UAW has previously failed to organize foreign-based automakers in the U.S. The UAW has previously discussed organizing Tesla's Fremont plant in California with little to no traction in those efforts. "Workers at Tesla, Toyota, Honda, and others are not the enemy — they're the UAW members of the future," Fain said. UAW President Shawn Fain marches with UAW members through downtown Detroit after a rally in support of United Auto Workers members as they strike the Big Three auto makers on September 15, 2023 in Detroit, Michigan.
Persons: Shawn Fain, John J, Kim, We've, Fain, Stellantis, we've, Ford, Bill Ford, Toyota Fain, Bill Pugliano, Tesla, Elon Musk, Musk, Tom Williams Organizations: United Auto Workers, UAW, Tribune, Service, Getty, DETROIT, Detroit, Tesla, Toyota Motor, U.S, General Motors, Ford Motor, Chrysler, Volkswagen, Nissan, GM, Ford, American, . ", Toyota, Honda, Bloomberg News, Bloomberg, CNBC, Cq, Inc Locations: Chicago, U.S, Fremont, California, Kentucky, Detroit, Detroit , Michigan, Fremont , California
AVONDALE, Ariz. (AP) — Ryan Blaney was fastest of NASCAR's championship contenders Friday in the only practice session ahead of the title-deciding season finale Sunday at Phoenix Raceway. “Ryan Blaney gets around Phoenix really, really well,” said Blaney crew chief Jonathan Hassler. Blaney was third and followed by Christopher Bell, who is one of the final four drivers racing for the title. William Byron, winner at Phoenix in the spring, was seventh fastest and Kyle Larson was the slowest driver of the title contenders in 11th. Bell is the lone Toyota representative and driving for Joe Gibbs Racing, which last won a title with Kyle Busch in 2019.
Persons: — Ryan Blaney, “ Ryan Blaney, , Blaney, Jonathan Hassler, “ There's, ” Kyle Busch, Bubba Wallace, Christopher Bell, William Byron, Kyle Larson, Larson, , Cliff Daniels, I've, ” Daniels, Bell, Byron, Joey Logano, Chase Elliott, Joe Gibbs, Kyle Busch Organizations: Phoenix Raceway, Phoenix, Chevrolet, Martinsville Speedway, Team Penske, Hendrick Motorsports, Toyota Locations: AVONDALE, Ariz, Phoenix, NASCAR's
He said the UAW's new contracts were so good they had even led to nonunion auto workers getting raises. Honda (7267.T) told Reuters it was evaluating the recent UAW deals with the Detroit Three automakers and would remain competitive. "If (Toyota workers) come calling, which they have, we're going to educate them and be there for them," Smith told Reuters. Toyota's move earlier this week to raise wages is in line with the strategy the Japanese automaker and other nonunion automakers have used to keep UAW organizers at bay. Nonunion automakers have kept hourly wages close to the UAW rates at the Detroit Three.
Persons: Shawn Fain, Fain, It'll, Tim Smith, Smith, Elon Musk, Toyota's, Joseph White, David Shepardson, Lisa Baertlein, Ben Klayman, Matthew Lewis, Jamie Freed Organizations: DETROIT, United Auto Workers, Detroit, Toyota, UAW, nonunion, Honda, Reuters, Detroit Three, General Motors, Ford, Louisville Assembly, GM, National Labor Relations Board, NLRB, Tesla, Thomson Locations: WASHINGTON, U.S, United States, Georgetown , Kentucky, Louisville, Tesla's Fremont , California, Fremont, Detroit, Washington, Los Angeles
That presents a series of challenges to established automakers like Nissan, which have followed global strategies for decades. The market has been fragmented, and customers' acceptance speed is also different," Uchida said. "So what's important is how much we can start to localize in each respective market," Uchida said. But many of those new Nissan EVs will no longer be global models. For instance, EV customers in China are very sensitive to pricing – but they also want the latest technology, which they've come to expect from the fierce competition between the many domestic Chinese EV makers.
Persons: Makoto Uchida, , CNBC's Martin Soong, Uchida, they've, Li Auto, Kraft Heinz, FanDuel Organizations: Nissan Motor Co, Nissan Hyper Force, Japan, Nissan, Toyota, Volkswagen, Target, FedEx, Kraft, CNBC PRO Locations: Tokyo, Japan, U.S, Europe, China
The United Auto Workers union said it reached a tentative deal with General Motors on Monday, more than six weeks after workers went on strike. The company is the last of the three Detroit automakers to reach a new tentative labor deal. Photo: Rebecca Cook/ReutersToyota Motor is giving most of its U.S. auto-factory workers a 9% pay bump and shortening the time it takes to reach the maximum pay, a sign that gains made by the United Auto Workers in Detroit are starting to have a ripple effect in other parts of the auto industry. Toyota, whose U.S. factories aren’t unionized, will increase pay for most assembly plant workers from $31.86 an hour to $34.80 an hour, starting Jan 1., a spokesman for the company said Wednesday.
Persons: Rebecca Cook Organizations: United Auto Workers, General Motors, Detroit, Reuters Toyota Motor, Toyota Locations: Detroit, U.S
The world's top-selling automaker reported a record operating profit of 1.44 trillion yen ($9.5 billion) in the three months to end-September, a 155.6% increase from a year earlier. It lifted its full-year profit forecast to 4.5 trillion yen from 3 trillion yen, largely due to favourable effects from foreign exchange rates. Toyota expects the weaker yen to account for 1.18 trillion yen of the revision to the full-year profit. The new projection compared to analysts' average forecast of 4.0 trillion yen. Toyota assumed an average rate of 141 yen per dollar in its calculations for the 2023/24 financial year compared to 125 yen previously.
Persons: Issei Kato, Yoichi Miyazaki, Daniel Leussink, David Dolan, Muralikumar Organizations: Toyota, Japan, REUTERS, Nissan, Honda, EVs, Nikkei, Thomson Locations: Tokyo, Japan, TOKYO, United States, Asia, China, Southeast, Thailand, North Carolina
Tokyo — Toyota Motor reported a more than doubling of second-quarter profit on Wednesday, helped by a weak yen and strong sales, and raised its full-year forecast by 50%. Toyota lifted its full-year profit forecast to 4.5 trillion yen from 3 trillion yen, largely due to favorable effects from foreign exchange rates. It expects the weaker yen to account for 1.18 trillion yen of the revision to the full-year profit. The new projection compared to analysts’ average forecast of 4.0 trillion yen. The quarterly results compared to an average 1.08 trillion yen profit estimate in a poll of 10 analysts by LSEG and a profit of 562.8 billion yen in the same period last year.
Organizations: Toyota, LSEG, Lexus, Nissan Motor, Honda Locations: Tokyo, United States, Asia, Japan, North Carolina, China, Southeast, Thailand
Other nonunion logistics and service parts employees are getting wage hikes. The media and organizing project Labor Notes earlier reported the wage hikes and other details, citing a company document. The pay of production Toyota workers in Kentucky at top scale will rise by $2.94 to $34.80 an hour. Under the new tentative agreements with General Motors (GM.N), Ford Motor (F.N) and Stellantis (STLAM.MI), UAW workers will receive a wage hike of 11% upon ratification and 25% in wage hikes through April 2028. The UAW declined to comment on the Toyota wage hikes.
Persons: Johanna Geron, ” Chris Reynolds, Shawn Fain, Fain, David Shepardson, Chizu Nomiyama, Matthew Lewis Organizations: Toyota, REUTERS, United Auto Workers, Detroit Three, Labor, North, General Motors, Ford Motor, UAW, Ford, Volkswagen, Nissan, Detroit, Thomson Locations: Zaventem, Belgium, U.S, Kentucky, Washington
Toyota Recalls Nearly 1.9M RAV4s to Fix Batteries That Can Move During Hard Turns and Cause a FireToyota is recalling nearly 1.9 million RAV4 small SUVs in the U.S. to fix a problem with batteries that can move during forceful turns and potentially cause a fire
Organizations: Toyota Locations: U.S
Morning Bid: Fed, financing and jobs greet November
  + stars: | 2023-11-01 | by ( ) www.reuters.com   time to read: +6 min
Despite the U.S. Treasury forecasting a lower fourth-quarter borrowing need than previously flagged, the tension in the bond market remains ahead of its detailed future refinancing plans due later on Wednesday. With the Federal Reserve widely expected to hold policy rates steady again on Wednesday, the Treasury plans may end up getting more bond market attention. But U.S. consumer confidence has softened, oil prices are falling again and the overseas demand picture is weakening. Another heavy day of U.S. corporate earnings is topped by big insurers and the likes of PayPal and Kraft Heinz. On Tuesday, shares in heavy-machinery maker Caterpillar (CAT.N) sank almost 7% as signs of slowing demand overshadowed a quarterly earnings beat.
Persons: Mike Dolan, Masato Kanda, it's, Japan's, China Evergrande, Joe Biden, Xi Jinping, Kraft Heinz, Estee Lauder, Kraft, Ingersoll Rand, Nick Macfie Organizations: Wednesday's, Bank of Japan, Japan's Nikkei, Japan, U.S, U.S . Treasury, Federal Reserve, Treasury, HK, White House, Asia Pacific Economic Cooperation, Wall, PayPal, Kraft, Caterpillar, Edison, AIG, Prudential Financial, MetLife, Qualcomm, Mckesson, Kraft Heinz, Allstate, Congnizant, Boston Properties, Water, Garmin, CVS, Brands, Humana, Reuters Graphics Reuters, US National Retail Federation, Thomson, Reuters Locations: U.S, United States, China, Hong Kong, San Francisco, Tokyo, Marathon, Boston
Toyota Motor on Wednesday said its quarterly profit more than doubled from a year ago on strong global demand for hybrids and favorable exchange-rate moves. On average, during the quarter, $1 was worth 145 yen, up from 138 yen in the same quarter of 2022. It now expects profit of 4.5 trillion yen ($29.8 billion), up from 3 trillion yen in its earlier guidance. It said it expects the weaker yen to account for the majority – about 1.2 trillion yen – of that increase. The company also announced a 100 billion yen ($662 million) share buyback and increased its dividend by 5 yen from a year ago, to 30 yen (20 cents) per share.
Organizations: Toyota, Los Angeles Auto, U.S, U.S . Locations: Los Angeles , California, U.S, North Carolina
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEV and hybrid sales: Toyota is using 'the right strategy,' analyst saysChristopher Richter, senior research analyst at CLSA, says the automaker is using "multiple lanes of attack" and electric vehicles aren't the "entire story."
Persons: Christopher Richter Organizations: Toyota
Toyota recalls more than 1.8 million RAV4 vehicles
  + stars: | 2023-11-01 | by ( Ramishah Maruf | ) edition.cnn.com   time to read: 1 min
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