Runtime: 6:01
0:29 Feds Accuse FCA of Trying to Corrupt UAW Talks
1:11 VW Can’t Shake Diesel Scandal
1:40 Short Sellers Take Advantage of Tesla Volatility
2:42 Ford Ranger Raptor Debuts in Europe
3:25 Bugatti Creates 5 Million Euro Supercar
4:23 Digital Cockpit for Buses
5:02 Nissan Aims to Become 3rd Largest OEM in China
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On today’s show…we have more details on that wild and crazy Ranger Raptor from Ford…and this $5 million Bugatti…as well as all the lying and cheating and bribery that’s taking place in the auto industry, coming right up on Autoline Daily.
This is Autoline Daily, the voice of the automotive industry.
FEDS ACCUSE FCA OF TRYING TO CORRUPT UAW TALKS
This bribery scandal between the UAW and FCA keeps getting worse. Federal prosecutors now say FCA deliberately tried to corrupt the union. FCA denies that and says the kickbacks and payoffs were the work of a few bad employees, who also enriched themselves. FCA says this had no effect on negotiating labor contracts. Prosecutors say FCA illegally paid $9 million to union officials over an 8-year period. Here’s our Autoline Insight. This story is far from over and we expect to hear about more illegal activities before it’s over.
VW CAN’T SHAKE DIESEL SCANDAL
The diesel emission cheating scandal continues to hang over Volkswagen’s head. Germany’s Der Spiegel magazine reported over the weekend that the company’s current CEO, Herbert Diess, was told about the cheating software two months before the scandal was made public. The company is currently being investigated in Germany about whether it violated disclosure rules. And Bloomberg reports that VW is considering firing about a half dozen engineers involved in the cheating.
SHORT SELLERS TAKE ADVANTAGE OF TESLA VOLATILITY
Elon Musk hates the people who have shorted Tesla stock. That’s one of the reasons why he wants to take the company private. But Musk’s actions have created all kinds of opportunities for the shorts. They love volatility and in the last month, Tesla stock zoomed up 25%, then dropped 20%. And now Bloomberg reports that Wall Street is starting to doubt that Musk has the financing to take the company private. If true, the shorts will have a field day, which is exactly the situation that Elon Musk wanted to avoid.
Do you have $5 million burning a hole in your pocket? Then have we got a car for you.
FORD RANGER RAPTOR DEBUTS IN EUROPE
One week ago, Ford said it would be coming out with a new performance vehicle for the European market and as suspected, it’s the new Ranger Raptor. We’re also learning it will have the exact same specs as the Ranger Raptor that’s sold in Thailand and debuted in February. Including, the 2.0L diesel engine, 10-speed transmission, FOX shocks and large BF Goodrich tires. The truck will be featured in the new Forza Horizon 4 video game as well. We wonder if the performance pickup will keep its diesel engine when it comes to the U.S., but it wouldn’t surprise us if it did. Its main competitor, the Colorado ZR2 also offers a diesel option.
BUGATTI CREATES 5 MILLION EURO SUPERCAR
If you think the Bugatti Chiron is an amazing vehicle, get ready for the Divo. Named after French racing driver, Albert Divo, it’s a more track-focused version of the Chiron that will feature new design elements. Bugatti says, “Its lighter weight and agility, higher downforce and greater g-forces promise significantly better handling properties.” Only 40 Divos will be made at a price of 5 million euro or about $5.75 million and will debut this Friday during Monterey Car Week.
Coming up next, digital displays are coming to a bus near you.
DIGITAL COCKPIT FOR BUSES
Digital displays in passenger vehicles are nothing new but now they’re making their way to buses, thanks to the supplier company Continental. It just created a digital cockpit that features a big 12.3-inch screen as its central display. It’s a modular unit, which means bus makers can adapt the system to its vehicles. The first units are already being shipped to bus company’s and serial production kicks off next year. Continental also says its digital cockpit is attracting interest from manufacturers of municipal vehicles, agriculture machinery and construction vehicles.
NISSAN AIMS TO BECOME 3RD LARGEST OEM IN CHINA
Nissan is aiming to become the third largest automaker in China behind General Motors and Volkswagen. And to help make it happen, Reuters reports it, along with its Chinese partner Dongfeng, will invest $900 million to boost production capacity 40% by 2021. This will allow Nissan to build up to 2.1 million vehicles a year in China. The company sold 1.5 million vehicles in the country last year and is aiming to sell 2.6 million a year by 2022. The plan will focus on electric vehicles and its China-only Venucia brand.
But that wraps up today’s report, thanks for watching and please join us again 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.