Auto News for Aug. 6
Lexus tops the news this morning with a top company executive saying the luxury car maker will launch some type of vehicle to keep the LS sedan company at the top of the lineup. What that vehicle will be was not disclosed but Division General Manager Jeff Bracken told Reuters that more details will be forthcoming in January. He also told an industry conference that Lexus will experiment with a no haggle buying program at a dozen outlets.
A German newspaper said BMW is considering another electric car that would slot between the i3 and the super-fast i8 sports car. It cited a pretty good source, BMW CEO Harold Krueger.
Tesla reported a quarterly loss of 48 cents a share, but that was less than what Wall Street was projecting. It backed off a prediction that it would produce 55,000 cars this year saying it would be in the range of 50,000 to 55,000. Officials said they did not want to sacrifice quality for quantity of production. Tesla shares lost ground in after-hours trading on the news.
Mazda is recalling roughly 193,000 CX-9 SUV’s to repair front suspension ball joints that may be corroded. Named in the recall were 2007-14 models with the recall initially concentrating on states that use a large quantity of road salt during the winter months.
David Shepardson of the Detroit News, one of the top auto writers in the country, reports that auto imports so far this year hit an all-time high of $29.8 billion. Many of those vehicles were produced at plants in Mexico. The U.S. received $11.3 billion worth of cars from Mexico while we sent $1.4 billion south of the border. Shepardson said Mexico is now the seventh largest auto producer in the world.