It is no great surprise that Tesla hemorrhages cash. As we pointed out last month when they reported Q2 earnings, making products that actually generate a return on capital for shareholders isn’t a strong suit of the Silicon Valley powerhouse.
After learning over the weekend that Trump plans to call for an investigation into China over allegations that the nation violated U.S. intellectual property rights and forced technology transfers, we learn that several Chinese companies may have submitted bids for Fiat Chrysler (FCA) in a deal that would include the company’s iconic Jeep brand.
Leave it to a tiny car company like Mazda to pull off something the big players have been trying to figure out for years. That’s the deal with the new “ SkyActiv-X ” series of engines, which use revolutionary technology to achieve diesel-like fuel economy with gasoline.
Earlier this year, we reported that Takata , the Japanese auto parts maker that was charged with criminal fraud for covering up faulty airbags, had agreed to pay a $1 billion settlement after a US federal investigation. This week, Nissan agreed to pay $97.7 million in a class-action settlement due to customers’ economic loss because of the recall of 4.4 million vehicles equipped with Takata airbag inflators.
Enlarge (credit: Mazda) Fresh on the heels of last week’s tie-up with Toyota , on Tuesday Mazda announced it’s finally made a breakthrough in gasoline engine technology. Mazda is calling it Skyactive-X; we know it better as homogenous charge compression ignition, or HCCI.
Enlarge / Toyota President Akio Toyoda, left, and Mazda President and CEO Masamichi Kogai, right, shake hands during a photo session at a joint press conference on August 4, 2017 in Tokyo, Japan. (credit: Tomohiro Ohsumi/Getty Images) On Friday, Toyota Motor Corp. and Mazda Motor Corp. signed a deal to enter into an alliance.
It was expected to be a bad quarter for General Motors. It ended up being abysmal. GM reported that July auto sales crashed by a whopping 15%, nearly double Wall Street’s already depressed expectations of a 8% drop, and with GM mothballing production across the country to catch up with lagging demand, it still sold only 226,107 vehicles as a result of double digits drops in Chevy, Build and Cadillac Sales of 15.3%, -30.5% and -21.7%, respectively.