Tuesday, June 30, 2020

UAW, feds discuss possibility of independent monitor, third-party oversight

The unusual gathering, amid the backdrop of an ongoing federal corruption probe, came as the UAW's president tries to prove the union can clean itself up from within, even as the U.S. attorney calls for more meaningful changes.



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Subaru to switch to quarterly U.S. sales reports

Subaru of America follows Porsche, Nissan, Mitsubishi and BMW this year in making the change.



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UAW spent more than $80M on strike benefits as membership rose in 2019

The long-shrinking union added more than 3,000 members in a year when its president resigned and workers at GM walked off the job for six weeks.



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Kia's next-gen midsize sedan drops Optima name, becomes K5

Kia's sees its next-generation midsize sedan as such an upgrade — from the interior and exterior styling to the high-output engine and newly available all-wheel drive — that the automaker is changing the badge.



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Online tool created to identify recalled Takata airbag parts

The industry's new tool has parts information for 19 auto brands. Aftermarket industry workers can search parts by "whatever information is known," such as the serial number or supplier part number.



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UAW local asks GM to shut Texas plant amid virus spike in state

A spokesman for the automaker said there are no changes planned for production at Arlington Assembly "because we have protocols designed to keep the virus out of the facility and have multiple layers of protection in the plant to prevent a spread of the virus."



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Byton, strapped for cash, suspends output to reorganize

The EV startup, hobbled by a severe cash shortage, has been planning to launch the M-Byte crossover in the U.S. and Europe.



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Ford, VW pause U.S. social media advertising

Ford said it would re-evaluate its presence on all social media platforms and added that hate speech, violence and racial injustice in content on social media "needs to be eradicated." VW issued a similar statement.



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Ford to take $100 refundable deposits for Bronco following reveal

The deposit will put customers in line for the vehicle, which is expected to hit showrooms early next year.



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Uber in talks to buy delivery rival Postmates, reports say

The discussions, reported by the New York Times and Bloomberg, come after Uber's proposal to buy Grubhub fell through.



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Japanese supplier Sanden Holdings files for debt relief

The maker of vehicle air conditioning components and compressors said it would enter a so-called alternative dispute resolution in Japan, which allows companies to reassess and restructure debt.



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House Democrats to lay out new plan for cutting emissions

The blueprint expected to be introduced Tuesday calls for expanding the $7,500 EV tax credit after both General Motors and Tesla hit the 200,000 individual manufacturer cap. It also would mandate sales of zero-emission vehicles by 2035.



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Byton to suspend production for reorganization

The EV startup has been planning to launch the M-Byte crossover in the U.S. and Europe.



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Toyota retains most valuable auto brand title; Tesla passes Honda, Ford and Nissan

Tesla’s brand value is rising fast because it is considered a technology brand, but it didn't catch Toyota, Mercedes or BMW in the ranking of the world’s 100 Most Valuable Brands.



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Monday, June 29, 2020

Woodward Dream Cruise canceled over COVID-19 concerns

DETROIT -- The 26th annual Woodward Dream Cruise has been canceled, officially, due to public health concerns caused by the COVID-19 pandemic.

Organizers posted the news on the cruise website Monday morning: "Notice: Due to public health concerns caused by COVID-19, all community events planned for the 26th Annual Woodward Dream Cruise have been canceled. Stay safe. Be responsible."

This year's event was set for Aug. 15, but already communities along the 16-mile route in Oakland County had called off all special events associated with the cruise, including "Mustang Alley" in Ferndale, and various sponsored events.

The Woodward Dream Cruise typically attracts around 1 million people and 40,000 cars to the stretch of the M-1 highway from the Detroit border to Pontiac, Mich.

Just last year, projections for the event were optimistic as the cruise brought in more backers, totaling 35 sponsors. The increase brought 2019's sponsorship dollars to $500,000, up from $483,000 the previous year. The funds typically went toward a range of event expenses, such as tent set-ups and live music, while residual funds were given to the nine participating cities.

The Dream Cruise has been run officially every year since 1995 when it started as a local fundraiser and has grown to include automaker and supplier sponsorships, massive displays, car shows as well as watch parties, parades and celebrity meet-and-greets.



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Court backs president's right to fire CFPB director

The court in a 5-4 ruling said the current structure of the federal watchdog is "unconstitutional" without oversight from the executive branch. Previously, the CFPB director could only be removed by the president for "inefficiency, neglect of duty, or malfeasance in office."



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Ex-UAW President Dennis Williams returns $55,000 in travel expenses

Williams returned the money after an internal UAW investigation found the expenditures were "not appropriate." UAW President Rory Gamble is set to meet with U.S. Attorney Matthew Schneider on Tuesday to discuss reform efforts amid a federal corruption probe.



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John Mooney, the force behind catalytic converters, dies at 90

Mooney, who died June 16 at home in Wyckoff, N.J., is credited with a big breakthrough, while working at supplier Engelhard, in advancing one of the most important anti-pollution devices since the creation of the car.



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U.S. appeals court stays order requiring GM, FCA CEOs to meet

The Sixth U.S. Circuit Court of Appeals said in a filing: "In order to provide sufficient time to consider the matters raised in GM’s petition, and having considered the relevant factors, we conclude that a temporary stay is appropriate."



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Online used-vehicle seller Shift to go public through reverse merger

Shift will merge with a special purpose acquisition company, valuing the combined entity at $730 million on a pro forma basis.



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GM Defense lands $214 million Army contract

The vehicle is based on the 2020 Chevrolet Colorado ZR2 architecture. The Army authorized the purchase of 649 units of the infantry support vehicle and can increase that to 1,070.



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Ten years after IPO, a look back at Tesla's extaordinary decade

Despite plenty of doubters and some near-death experiences, Tesla’s $178 billion market valuation is second only to Toyota Motor Corp. among all automakers.



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GM customer care chief to retire

Tim Turvey, chief of customer care and aftersales, boosted customer loyalty and strengthened GM's parts operations and partnerships with dealers' service departments. John Roth, president of GM's Africa and Middle East operations, will replace him.



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Ford Promise debt relief program launches

Ford Promise allows Ford Credit to buy back a vehicle at its average trade-in value plus up to $15,000. If the amount owed is more than the program limit, the customer is responsible for the difference along with the cost of late or deferred payments and vehicle damage.



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Ford Promise debt relief program launch

Ford Promise allows Ford Credit to buy back vehicles at its average trade-in value up to $15,000. If the amount owed is more than the program limit, the customer is responsible for the difference along with the cost of late or deferred payments and vehicle damage.



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