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A new coalition off major automakers, suppliers and auto dealers is being launched, it will try to urge President Donald Trump not to withdraw from the North American Free Trade Agreement. Nearly every major automaker is part of it: General Motors, Toyota Motor Corp., Volkswagen AG, Hyundai Motor Co., Ford Motor Co. and few others. They are backing an advertising campaign to convince the White House and voters that the agreement has been crucial in boosting U.S. automotive sector production and jobs. Trump has threatened to withdraw from the trade deal with U.S., Canada and Mexico, which ...
General Motors might have cut more than 6,000 jobs this year, but it still might need to further shrink its manufacturing operations to address bloated inventories of some vehicles amid plateauing U.S. sales and pressure from Wall Street to avoid overproduction. The majority of GM's U.S. assembly plants, including some where a shift already has been eliminated, produce vehicles that on average have at least an 80-day supply, 33 percent more than what the industry generally considers healthy. GM has at least seven U.S. assembly plants that on average produced vehicles with greater than...
Bentley Motors plans a major shake-up of its executive ranks just a few months before launching the new Continental GT. Wolfgang Durheimer will step down as CEO of Bentley effective February 1, 2018; he will be succeeded by Adrian Hallmark, former global strategy director at Jaguar Land Rover.. Bentley's board members for engineering, sales and marketing, and human resources will also step down, effective January 1, 2018. Durheimer, 59, will stay on at the VW Group to assist with the automaker's motorsports efforts. It's a fitting culmination to a career that oversaw the...
According to the local news report and a former Tesla employee, the electric vehicle maker fired about 400 employees last week. The dismissals were a result of a company-wide annual review, Tesla said in an emailed statement, without confirming the number of employees leaving the company. "It's about 400 people ranging from associates to team leaders to supervisors. We don't know how high up it went," said the former employee, who worked on the assembly line and did not want to be identified. Though Tesla cited performance as the reason for the firings, the source ...
If Donald Trump won’t reach the deal with Mexico to substantially revise the North American Free Trade Agreement, he could switch to a bilateral trade pact with Canada. He said to reporters he could envision maintaining free trade with Canada. He spoke at the White House alongside Canadian Prime Minister Justin Trudeau, on a visit to try to convince the U.S. leader of NAFTA's merits as a new round of renegotiations began near Washington. Asked about Trump's comments at a news conference later, Trudeau said he was still optimistic about the chances of modernizing the 19...
