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    autonews.com

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    1. NIADA chief Steve Jordan resigns

      Steve Jordan, who had been CEO since 2013, is leaving to "pursue another career opportunity in the automotive industry," the association said Friday. Shaun Petersen, senior vice president of legal and government affairs, has been selected as interim executive vice president by the NIADA board of directors. Petersen will handle day-to-day operations, effective immediately. Jordan will remain with NIADA in an "advisory capacity" during a 30-day transition, the association said.

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    2. DuPont takes $2.5 billion charge tied to auto business

      DuPont takes $2.5 billion charge tied to auto business

      DuPont on Thursday and wrote down the value of its automotive business by $2.5 billion as the industrial materials giant struggles with a prolonged weakness in one of its biggest end-markets. DuPont, which makes materials used in products ranging from engine covers to brake fluid, is heavily exposed to the auto industry, which has been among the hardest hit after the coronavirus lockdowns emptied roads and shuttered car showrooms.

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    3. Continental burns cash as Q2 sales slump nearly 40%

      BERLIN -- Continental suffered a nearly 40 percent year-on-year decline in group sales during the second quarter, causing the German supplier to burn cash and forcing it to refrain from providing an outlook for the year. Consolidated group sales declined by 39.8 percent to 6.62 billion euros ($7.6 billion), the company said Monday as it reported some results early. Operating margin was minus 9.6 percent and reported free cash flow was a negative 1.78 billion euros ($2 billion.)

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    4. Industry veteran Chip Perry to helm A2Z Sync

      Industry veteran Chip Perry to helm A2Z Sync

      Improving customers' car-buying experience is "the biggest opportunity in automotive retail" today, says auto retailing veteran Chip Perry. And to do that, dealerships need to transform the sales process by eliminating the bottlenecks that lead to long waits at the showroom and frustrate customers, he said. Perry, who previously led both Autotrader and TrueCar, is now CEO of A2Z Sync, which helps dealerships transition to one-person selling.

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    5. Detroit's near future based on crossovers, SUVs, not EVs, production plans show

      DETROIT -- General Motors Co. and Ford Motor Co. have widely touted their commitment to emission-free electric vehicles, but their production plans show a growing reliance on ever-larger gas-powered vehicles. The two biggest U.S. automakers will make more than 5 million SUVs and pickup trucks in 2026, but only about 320,000 electric vehicles, according to detailed production plans for North America seen by Reuters.

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    6. Bosch develops new virus test that shortens wait to 2.5 hours

      Bosch develops new virus test that shortens wait to 2.5 hours

      Auto supplier Robert Bosch GmbH said its healthcare affiiate developed a test that can diagnose COVID-19 in less than 2.5 hours and might help efforts to fight the coronavirus outbreak. “Infected patients can be identified and isolated faster,” Bosch CEO Volkmar Denner . Patients typically must wait one or two days for test results. The ability to test for COVID-19 is seen as a key variable in restricting its spread.

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      Mentions: automotive global
    7. As plants in Wuhan reopen, world's automakers worry about disruptions

      BEIJING -- Automakers across the world face the possibility of extended supply chain disruptions as factories in China stutter back to life after closures due to the coronavirus outbreak. The car industry is especially exposed as Wuhan -- the epicenter of the outbreak -- is known as one of China's 'Detroits', accounting for nearly 10 percent of vehicles made in the country and home to hundreds of parts suppliers.

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    8. Magna expects lower 2020 sales, ends Lyft partnership

      Magna expects lower 2020 sales, ends Lyft partnership

      While Magna International Inc. anticipates growth to 2022 it does expect sales this year to fall compared with 2019 due to a variety of factors. In its , the Canadian auto supply giant said the stronger U.S. dollar, the sale of its fluid pressure and controls business and lower expected light vehicle production in Europe will all contribute to lower sales in 2020. The company says it expects total sales between $38 billion and $40 billion this year.

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    9. Turnaround artist Carlos Tavares is Automotive News' Industry Leader of the Year

      Turnaround artist Carlos Tavares is Automotive News' Industry Leader of the Year

      PARIS — In 2017, Carlos Tavares was CEO of a French automaker that sold barely more than 3 million cars annually and was just three years removed from near-bankruptcy. Today, Tavares is poised to become the leader of the world's fourth-largest car company, if the proposed PSA Group merger with Fiat Chrysler Automobiles comes to fruition.

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    10. EV hopefuls' setbacks just harsh reality, experts say

      But experts say the recent developments are unlikely to become a resounding trend throughout the EV movement: The less-established contenders are simply realizing the barriers to entry in the electric space. In the last two weeks: "There are a lot of startups out there looking at the apparent success of Tesla, and they want to be the next Tesla, and they don't realize it's a multibillion-dollar investment," Michael Harley, executive editor of Kelley Blue Book, told Automotive News.

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    11. Continental could shut plants as part of restructuring

      HAMBURG -- Continental is examining whether to shut plants, including in Germany, as part of its restructuring, a spokesman for the company said on Friday after a newspaper reported that nine plants in its powertrain unit could be closed. "It is beyond question that we are reviewing all divisions," a spokesman for the supplier said without giving details on how many plants and jobs could be involved.

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    12. Acquisition expected to combine Autodata and J.D. Power, creating an automotive data powerhouse

      Acquisition expected to combine Autodata and J.D. Power, creating an automotive data powerhouse

      LOS ANGELES — A U.S. private equity firm that recently acquired has now reached an agreement to buy , the data analytics and consumer intelligence firm that also has close ties to the auto industry. Equity firm Thoma Bravo, with offices in San Francisco and Chicago, that it expects the transaction to acquire J.D. Power to close by year end, subject to customary closing conditions. Terms were not announced.

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    13. Continental cuts 2019 outlook citing expected fall in global vehicle production

      FRANKFURT -- Continental AG cut its 2019 outlook, citing expectations for a fall in global vehicle production and unexpected changes in consumer demand for some products.

      The company also said that it may have to make provisions for warranty claims in the second half of the year, the amounts for which were not yet clear.

      Sales for the year are now expected to be around 44 billion to 45 billion euros ($50.44 billion), down from a previous estimate of 45 billion to 47 billion euros, the supplier said.

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    14. Canada June light-vehicle sales down 9.5% as losing streak hits 16 months

      Canada June light-vehicle sales down 9.5% as losing streak hits 16 months

      Sales of new vehicles in Canada fell 9.5 percent in June, extending the streak of monthly declines to 16. Unlike recent previous months, during which a single automaker managed to drag down the monthly overall sales total, every major automaker from Detroit to Japan posted declines. Bigger automakers, such as Nissan, Honda, Toyota, and FCA, all saw their sales fall. Nissan sales fell 13 percent, Honda sales were off 10 percent, FCA sales decreased 4 percent, and Toyota sales dipped 2.2 percent.

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    15. Canadian technology giant Blackberry and LG expand partnership to develop autonomous vehicle systems

      Canadian tech giant BlackBerry and LG Electronics of South Korea said Wednesday they have expanded a longtime partnership in an effort to “accelerate the deployment of connected and autonomous vehicle technology” for automakers and suppliers. Financial details of the agreement were not released.

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    16. Toyoda's trade stand too polite for its own good

      Akio Toyoda paused a 60-year-plus history of genteel, go-along-to-get-along relations with the U.S. last week to strongly criticize unprecedented trade actions by the Trump administration that threaten the economic future of his company and other Japanese automakers. But, how do I put this, Toyoda-san? The tone of your strongly worded messages still might have been a bit too subtle to register with their intended target.

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    17. China forges forward while Detroit 'retreats,' expert says

      China forges forward while Detroit 'retreats,' expert says

      DETROIT -- Five years into its plan to reinvent itself as the dominant global technology leader, China has raced far ahead of others on electric-vehicle sales, forged into automated-vehicle development and led the way on deployment of next-generation cellular infrastructure. "The Chinese are clearly on the offensive," said Michael Dunne, CEO of ZoZo Go, a consulting firm that advises American companies looking to do business in China.

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      Mentions: global trade
    18. VW eyes buying big stake in China partner JAC, report says

      VW eyes buying big stake in China partner JAC, report says

      HONG KONG -- Volkswagen Group is exploring purchasing a big stake in its Chinese electric-vehicle joint-venture partner JAC Motors and has tapped Goldman Sachs as an adviser on the plan, people with direct knowledge of the matter said. The move by VW, the largest foreign automaker in China, to buy into JAC is the latest step by foreign automakers to increase their stakes in their Chinese joint venture partners or in the ventures themselves since Beijing relaxed ownership rules last year in the world's biggest car market. BMW agreed in October to buy control of its main joint venture in ...

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    19. China to reduce intervention in auto, other industries

      China to reduce intervention in auto, other industries

      China will reduce government intervention in its vast industrial sector, the industry minister said on Monday, as Beijing seeks to ease concerns about its industrial policy, core to Washington's complaints in the Sino-U.S. trade war. The government's pledge to reduce its influence over operational matters in China's manufacturing sector follows an apparent toning down of its high-tech industrial push, which has long annoyed the United States.

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    20. High-tech cars, partnerships driving BlackBerry’s rebirth, exec says

      BlackBerry’s growing footprint in the automotive sector is key to the company’s turnaround efforts as it transitions away from smartphones and seeks more joint ventures with automakers and parts suppliers. 

      “Are we making partnerships with other companies? Absolutely,” said Kaivan Karimi, head of sales and marketing at BlackBerry Technology Solutions. 

      The strategy could be paying off. In the quarter that ended Nov. 30, the Waterloo, Ont., company reported net income of C$59 million ($44 million U.S.) on revenue of C$226 million. That’s up from a net loss of C$275 million a year earlier. The company’s next quarterly report comes this month.

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    21. German industry to invest $68 billion in electric cars and automation

      Germany's car industry is to invest nearly 60 billion euros ($68 billion) over the next three years on electric cars and automated driving, the head of the VDA car industry association said. Increasing the number of electric cars on the road is pivotal to reach ambitious goals in the European Union to reduce carbon dioxide emissions and requires the expansion of charging infrastructure, VDA President Bernhard Mattes said Saturday in a statement.

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