Runtime: 7:11
0:28 Tesla’s Stocks & Bonds Are Falling
1:12 BMW & Daimler Combine Mobility Services
1:51 Renault & Nissan Consider Merging
3:10 VW Shows Concept Version of Atlas Pickup
3:51 New Subaru Forester
4:09 Kia Updates the Sedona Minivan
4:53 Cadillac Won’t Share New V8 Engine
5:33 New Nissan Altima Gets Massive V-Motion Grille
6:17 Genesis Reveals Sleek EV Concept
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On today’s show… Tesla’s stocks and bonds are falling fast… Daimler and BMW announce a completely unexpected partnership… and Cadillac says Corvette can’t have its new V8. All that and more coming right up on Autoline Daily.
This is Autoline Daily the show for enthusiasts of the automotive industry.
TESLA TAKING IT ON THE CHIN
After a slew of bad news, Tesla is taking it on the chin. The stock plunged $100 a share over the last month, and is down to $257 a share. Tesla’s bonds have dropped to 86 cents on the dollar, meaning every dollar that was invested is now only worth 86 cents. Bloomberg reports Tesla is burning through $6,500 in cash every minute. Here’s our Autoline Insight: this could be the moment that short sellers have been waiting for. Tesla could be teetering on the edge of a financial disaster. It will update production numbers for the Model 3 next week, and if investors are disappointed in those numbers, all hell could break loose.
DAIMLER & BMW JOIN RIDE SHARING FORCES
In a stunning move, Daimler and BMW announced they will combine their ride sharing service into one company. Daimler has Car2Go and BMW has Drive Now, and putting the two together will give the German automakers the kind of critical mass that could provide significant synergies. And clearly they are worried about the head start that companies like Uber, Didi and Ola have. The name of the new company was not announced as the two OEMs are still negotiating how to put the deal together. But it shows how the rush to mobility services is forcing automakers to work together in ways they never would have in the recent past.
RENAULT & NISSAN CONSIDER MERGING
Speaking of getting together, Nissan and Renault are in talks to merge into one company. Up to now the two have operated under the umbrella of an alliance where they each own a part of the other. But an alliance is not as efficient or nimble as one corporate entity could be. Even so, negotiations could be tough. The French government owns 15% of Renault and may not be willing to give up that ownership or see it diluted if the companies merge together.
Be sure to watch Autoline After Hours later this afternoon. Peter DeLorenzo, the Autoextremist, will be on the show, and he will not be holding back with his opinions of what’s going on in the auto industry. We heard he’s bringing a satchel full of fragmentation grenades with him. So zip up your flak jackets and join us at 3 pm eastern time for what promises to be a great show.
Coming up next we have new products to show you from Volkswagen, Subaru, Kia, Nissan and Genesis.
VW SHOWS NEW PICKUP CONCEPT
Volkswagen’s MQB platform has spawned everything from a small sports car to a 7-seat SUV and now it’s showing a pickup truck, called the Tanoak. The name comes from a tree found mainly in California and Oregon. But the name reminds me of that special item you get in the Super Mario Brothers game, called the tanooki suit. The Tanoak’s wheelbase is 11-inches longer than the 7-seater Atlas and features what is a fairly short bed at a little over 5-feet long. VW currently has no plans to build the Tanoak, but will gauge reactions to see if it should. So, let us know what you think in the comments below.
NEW SUBARU FORESTER
Subaru unveiled the new Forester. It gets stop/start technology and the EyeSight driver assist technology as standard equipment. And its available with DriverFocus, which monitors the drivers face to detect signs of fatigue or distraction. It goes on sales later this year.
KIA UPDATES THE SEDONA
Kia revealed the new Sedona, which gets the company’s signature front end grille and a new look at the rear. Its powered by the same 3.3L V6 as before but now gets an 8-speed automatic. It’s also available with more safety technology and convenience features.
Cadillac likes its new V8 engine so much it told Corvette to keep away from it. That’s coming up next.
CADILLAC WON’T SHARE NEW V8
Speculation started swirling almost immediately after Cadillac introduced its all-new 550-horsepower twin-turbo V8 that the engine would be making its way into a Corvette. But Autoblog reports, Cadillac president Johan de Nysschen says, “Just quit the speculation it’s headed for Corvette. It’s not.” He goes on to say he doesn’t think the engine has the right kind of characteristics that Corvette would want and only a luxury brand could recoup the development cost. We wonder if Cadillac may get a version of that long-rumored mid-engine Corvette. One way to truly distinguish the two cars would be to have two different engines.
ALTIMA SHOWS UP PINOCCHIO
Nissan is making sure there’s no doubt in your mind that you’re looking at a Nissan.The new Altima has a massive version of its V-motion grille that looks like it will appear on its entire sedan lineup. Notice the shark-fin treatment around the rear C-pillar is similar to the Maxima. Nissan calls the interior a more open, airy environment, with a 7-inch display for the driver and an 8-inch touchscreen in the center. Two engines are available, a 2.5L four and the all-new Variable Compression Turbo engine, which debuted in Infiniti’s QX50. The 2019 Altima goes on sale in the U.S. this fall, follow by other global markets.
GENESIS SHOWS SLEEK EV
Genesis took the wraps off this sleek looking pure electric concept called the Essentia, which features a carbon fiber monocoque. The company says the vehicle is its interpretation of a two-door, Gran Turismo and is meant to showcase its design and technology.
If you want more information about any of the vehicles we talked about, just look for story links in the description box below or click the headline to the story in the transcript, but with that we wrap up today’s show, don’t forget about Autoline After Hours later this afternoon, and we’ll see you right back here again for this show tomorrow.
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John McElroy is an influential thought leader in the automotive industry. He is a journalist, lecturer, commentator and entrepreneur. He created “Autoline Daily,” the first industry webcast of industry news and analysis.