AD #2639 – BMW 2 Series Gran Coupe Details, Tesla Manufacturing Improvements, Nissan’s Q1 Profit Plunges 90%

This is Autoline Daily reporting on the global automotive industry.

DAIMLER’S PROFIT TUMBLES
Earlier this month, Daimler warned it was cutting its profit forecast to help pay for diesel emission violations and the Takata airbag recall. And now the automaker has revealed all of its second quarter numbers. While revenue was up 5%, thanks to favorable exchange rates, Daimler was down everywhere else. Its passenger and commercial vehicle sales dropped 1% compared to a year ago. It recorded an EBIT of negative 1.6 billion euros compared to a 2.6 billion euro gain last year. And the company posted a net loss of 1.2 billion euros compared to a 1.8 billion gain in 2018. Because of this, Daimler plans to cut costs but it didn’t provide details on where the cuts would come from.

NISSAN’S Q1 PROFIT PLUNGES 90%
And Daimler isn’t the only automaker that’s struggling. Nissan warned that its first quarter profit plunged 90%. As a result, Reuters reports that the automaker is planning to cut 10,000 jobs globally. Nissan blames its struggles on being too aggressive in trying to boost market share, especially in the U.S., while Carlos Ghosn was running the company. It says this lead to a cheapened brand image and low resale values, that hurt its bottom line.

PSA POSTS STRONG EARNINGS
But not all automakers are having a tough go of it. French automaker PSA, the parent company of Peugeot, Citroen and Opel, saw its first half operating profit jump by nearly 11% and its net income increased by nearly a quarter. The company is having a strong year, thanks to the introduction of new models and cost savings from the integration of Opel, which it acquired from General Motors two years ago.

And you won’t want to miss Autoline After Hours this week. Our special guest is Dave Rand, a former GM designer, who will provide insights and observations about the Concours d’ Elegance that will be held this weekend in Plymouth, Michigan. Joining us will be Christie Schweinsberg of WardsAuto and Joe DeMatio of Hagerty. That’s tomorrow at 3PM eastern time on our website, Autoline.tv.

TESLA MANUFACTURING IMPROVEMENTS
Tesla has another fascinating patent application that was uncovered by Teslarati. It’s for a new casting machine that’s basically able to transform and turn numerous part molds into one. In a previous interview, Elon Musk said the machine would enable Tesla to make the rear underbody of the Model Y out of one part, instead of 70. And the patent application suggests that an entire vehicle frame could be made. Not only would a machine like this reduce build time, costs, space needed and vehicle weight, it would also improve EV range. 

TOP EXCUSES TO GET OUT OF A TICKET
According to a new survey from Carinsurance.com, 82% of people it talked to admitted to speeding by as much as 15 miles-per-hour over the limit. That’s no surprise. But what is surprising is the tricks people use to get out of tickets. The best I ever heard was, “these are not the droids you’re looking for.” Still cracks me up. But here are the top three excuses people reported in the survey; 24% claim they didn’t realize they were speeding; 18% say they are late for work; 14% remark that they were going as fast as everyone else. Here’s the crazy part: the most effective tactic is simply asking for a warning. 41% of drivers surveyed that requested a warning, got it. 

HONDA OFFERS AMAZON DELIVERY SERVICE
Back in May, Ford partnered with Amazon, so owners can have packages delivered right to the trunks of their cars. And now Honda is giving its owners the same opportunity. It’s available to select Accord, Accord Hybrid, Insight, Passport, Pilot, Odyssey and Acura RDX owners that subscribe to the HondaLink Remote Services connected car system. Owners must also be Amazon Prime members and live in one of the 50 cities or surrounding areas supported by the service.

BMW 2 SERIES GRAN COUPE DETAILS
Back in March, BMW teased the all-new 4-door 2 Series Gran Coupe and now we’re getting a better look at the car. It will be available with both front- and all-wheel drive. Under the hood of the range-topping M235i is a turbocharged 4-cylinder gasoline engine that makes a little over 300-horsepower. It features a traction control system first used on the i3 that relays wheel slip information 3-times faster. It also has a new Performance Control that, in corners, distributes a larger proportion of the driving forces to the outer wheels, which improves agility and stability. The 2 Series Gran Coupe will debut at the LA Auto Show in November, then go on sale in the spring of 2020.

But that’s it for today, thanks for watching and we’ll see you again tomorrow.