Toyota and Stellantis’ commercial truck business is under fire for cheating in emissions controls like 2015 again, Ferrari’s record-breaking order books, And Rino will follow her heart, with O Without the alleged “coalition” partners. All that and more in morning shift for Tuesday, August 2, 2022.
First Gear: Official Conspiracy
Okay, so the roughly $800 million Stellantis had to pay as a result of cheating federal emissions tests on the Jeep and Ram diesel models is down the bucket compared to, say, the $30 billion Dieselgate cost VW. however, Stellants took the plea deal In the criminal case in June, agree to pay $ 300 million in fine.
On Monday, the US arm of the company – formerly FCA US – was finally indicted for conspiracy to defraud the United States, committing Internet fraud and violating the Clean Air Act. From Reuters:
The company had been accused of making false claims about diesel emissions in more than 100,000 Jeep Grand Cherokee and Ram 1500 diesel vehicles in the United States from 2014-2016.
The Justice Department said FCA conspired to cheat US emissions tests.
Assistant Attorney General Todd Kim said the $300 million criminal sentence “is the result of a comprehensive three-year investigation.” “This decision shows that the Department of Justice is committed to holding corporate violators accountable for misleading regulators.”
The government noted that FCA US had previously paid $311 million in civil fines and more than $183 million in damages to more than 63,000 people as part of a class-action diesel lawsuit.
The automaker must perform an initial review of its Clean Air Act compliance and inspection and testing procedures, and report and prepare at least two follow-up reports. Reuters first reported the planned settlement in May.
The Department of Justice said FCA US has installed deceptive software features designed to evade regulatory scrutiny and fraudulently help diesel vehicles meet required emissions standards.
In addition, three FCA employees – Sergio Pasini, Gianluca Sabioni and Emmanuel Palma – will be tried on the same charges. A Stellantis spokesperson told Detroit Free Press That the claims “relating to the vehicles in question have already been resolved”, and there are no pending recalls. Just over 100,000 vehicles were involved in this investigation, from model years 2014 to 2016.
Second gear: And now Toyota
Meanwhile, Hino, a trading subsidiary of Toyota Truck Company, has been cheating on its emissions tests since 2003. When the company was The first “admit” mistake. In March, it said it falsified data only going back to 2016. An independent investigation commissioned by the manufacturer suggested otherwise, revealing a culture where engineers were threatened not to speak, and, It is clear , No one outside the company’s powertrain division knew what was going on. second, Reuters:
An investigative panel commissioned by truck and bus maker Hino Motors Ltd. blamed the scandal on an environment in which engineers did not feel able to challenge bosses, in a rare criticism of Japan’s corporate culture.
Hino formed the panel, made up of lawyers and a company consultant, this year after it admitted falsifying data on emissions and fuel performance for four engines. In a report, the commission said its findings, published on Tuesday, detail an inflexible atmosphere in which it was difficult for employees to feel “psychologically safe”.
Committee Chairman Kazuo Sakakibara, who was the chief prosecutor at the Osaka District Public Prosecutor’s Office, said that a sense of past success on the part of management helped generate culture.
“The scale of their past successes made them unable to change or look at themselves objectively, and they were not aware of changes in the environment and external values,” he said in a media briefing.
“The organization has become a poorly organized organization where people cannot say what they cannot do.”
Hino’s president, Satoshi Ogisu, apologized to reporters and said the management took its responsibilities seriously. He said he had received a letter from Toyota President, Akio Toyoda, in which he said the misconduct at Hino had betrayed the trust of all stakeholders.
So far, Hino has already recalled 67,000 vehicles associated with the probe, according to Seattle Times. The company now estimates that the true total could be as high as 300,000.
Third gear: Ferrari!
They’re doing something at Maranello, as the company just raised its full-year outlook after a particularly strong second quarter that saw a record number of orders. take it away again, Reuters:
The company said it now expects adjusted EBITDA of between €1.70 billion and €1.73 billion this year, up from a previous forecast range of €1.65-1.70 billion.
“The quality of the first six months and the strength of our business allow us to review the 2022 upward guidance on all metrics,” CEO Benedetto Vigna said in a statement.
“Net orders also hit a new record in the (second) quarter,” added Vigna, who took over Ferrari last September.
Adjusted earnings before interest, tax, depreciation and amortization rose 15% in the April-June period to 446 million euros ($456 million), beating analysts’ expectations of 427 million euros, according to a Reuters poll.
Shipments rose 4% in the quarter, with shipments more than doubling in China to 358 units.
It was a lot of this It’s driven by the Portofino M and F8, although hybrid models like the 296 GTB and the new SF90 certainly contributed, making up 17 percent of the company’s shipments in the second quarter.
Fourth gear: The things you say to your “allies”
Renault wants to split the battery and electric motor vehicle business, Honestly, no matter what Nissan and Mitsubishi are considering, or whether they want to contribute to the plan. From Car News:
“They know we have to do it, that we’re going to do it, and we’ve opened the door to them for every project,” said Luca de Meo, Renault CEO.
“In the end, the decision is whether they want to jump in the boat, but the train is leaving the station,” de Meo said.
De Meo’s plan to split up the automaker’s operations is gaining momentum after talks with French unions and discussions have also begun with senior management of its alliance partners Nissan and Mitsubishi Motors.
De Meo said he will reveal details of the transformational plan in the fall after “transparent” discussions with Japanese companies.
In the interview, he said hundreds of people are working on projects that may go beyond just turning off electric vehicles and could include other partners.
De Meo says Renault’s board of directors shares “very good” relations with top management at Nissan and Mitsubishi, even as Renault and Nissan appear to have emotionally withdrawn from that union, namely They do their best to check out financially too. With everything that has happened to these companies over the past three years, it was all inevitable.
Fifth gear: GAC has a message for Jeep
We learned last week that Stylantis is planning this Closing its only factory in China, ending a partnership between the state-backed Guangzhou Automobile Group and Jeep. The poor performance of the market for foreigners in recent times likely contributed to the decision as well. Now the GAC has responded, and you wouldn’t know it had a few words of choice for Stellantis CEO, Carlos Tavares. second, Car News:
The Guangzhou Automobile Group said Friday that comments made by Stellantis CEO Carlos Tavares the day before about how trust between the two companies over their Chinese manufacturing partnership had collapsed were “incredible.”
The GAC Group said in a statement that many of the Stellantis projects “have failed to achieve success, which is the result of a lack of respect for customers in the Chinese auto market.”
The latest shift back and forth over the course of months comes after Tavares on Thursday noted during earnings presentations and an interview with Bloomberg Television the growing risks of operating factories in China as politicians increasingly interfere in business.
The GAC said the joint venture “has been unable to establish a mutually trustworthy operating mechanism adapted to China’s highly competitive environment in order to turn the adverse situation of continuous losses in recent years.”
This isn’t the end of Jeep in China, but none of the brand’s future models will be produced within the country; It will be exported there.
Rear: This is XJ
On this day in 2005, Jaguar announced the Daimler Super Eight, a car I had never heard of until today. For the record, this Daimler is British and completely unrelated to Daimler-Benz, and has a history of assigning its name to fancier Jaguars. 365 days of driving He tells us this had a TV tuner!
Neutral: I’m next
So I work from my apartment, and my facility and all of my fellow tenants warned me late last week that they would be testing their fire alarms starting at 8 am (Come on!) Yesterday and today. As I’m writing this, I can hear the alarms in the building next door. My heartbeat and the hair of my neck standing erect knowing that at any moment, I could be startled loud and piercing, at which point my soul would come out of my body. I really should order the headphones and blow something up.