Subaru plans a major electrification push with $10.5 billion investment by 2030, targeting 50% BEV sales and launching new hybrid and electric models in Japan and the US. Toyota unveils a more efficient, off-road capable new Land Cruiser with hybrid options, challenging Jeep and Ford's Bronco. Ferrari boosts profits despite a sales drop, driven by higher prices and hybrid sales. Uber posts its first quarterly operating profit amid record bookings. VW and other automakers seek EV tech from Chinese firms due to internal software delays. Ford ramps up F-150 Lightning production, and Porsche introduces a lightweight, powerful 911 ST special edition.
Topics:subaru electrification planstoyota new land cruiserferrari financial performanceuber profitabilityvw ev technology partnershipsford f-150 lightning productionporsche 911 st editionuaw labor demandsoff-road suv marketautomotive electrification trends
- Subaru Boosts BEV Targets - Toyota To Produce New Subaru Electric SUV In U.S. - UAW Ramps Up Demands - Ferrari Boosts Profit Despite Sales Drop - Uber Posts First Quarterly Operating Profit - VW Looks to Acquire More Chinese EV Technology - Ford Restarts F-150 Lightning Production - Porsche Unveils Special Edition 911 - New Toyota Land Cruiser Looks Impressive
"...dy swooped in and stole sales with the Bronco and Bronco Sport and on paper, this new land Cruiser looks really ..."
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Subaru is spending nearly ten and a half billion dollars by twenty thirty to shift its focus to electrification. Three of its main organizations, production, product
development, and supply chain will start to work more closely together, with the goal of cutting planning, design and production time, as well as the number of vehicle parts and configurations in half. It will start making a next gen
hybrid vehicle in Japan sometime around twenty twenty five, followed by the US about a year later. B EV production starts in Japan just behind the hybrid,
and it'll make pure electrics in the US around twenty twenty seven or twenty twenty eight. By that time, Subaru says it will have eight b EV models
in its lineup that feature the latest technology in even what it calls Subaru specific OTAs. It hopes to build one point two million pure electric vehicles and have
bvs make up fifty percent of its global sales by the end of the decade, and like the soul Tera. Automotive News reports that at least one more
of those electric cars will come from Toyota. It says Toyota will start production
of an all new electric crossover at its Kentucky plant in twenty twenty five, which will also include a version of the three row vehicle for Subaru. Batteries
are expected to come from Toyota's new battery plant that it's building in North Carolina, which would also mean that the vehicles qualify for the full federal tax credit.
Sean Fain, the president of the UAW, is ramping up his list of demands. Besides wanting double digit raises, more profit sharing, the elimination
of different tiers of workers, full pensions, and the restoration of automatic cost of living raises or COLA, he's added a couple of more to the list.
First, no more forty hour work weeks. Faine wants a thirty two
hour week, and he also wants the union to be able to go on strike if gm Ford Stilantis close a plant. For example, Stilantis closed the
Belvedere plant that makes the jeep Cherokee because sales practically collapsed. Here's our Auto
line insight. We think that Fain is going to get most of what he
wants except COLA, pensions and a thirty two hour work week, and he's probably not going to get that strike clause, because, after all, if your customers aren't buying your cars, why would you keep on making them.
Ferrari saw it sales go down in the second quarter, but it still managed to rake in more money and park more of that money to the bottom line.
Ferrari sold three thousand, three hundred and ninety two cars in the last three months. That was down one point eight percent from a year ago,
and sales fell in every region of the world except for Europe. Even so,
it was able to get customers to pay more for the cars that it did sell, and revenues went up fourteen percent to one point four billion euros.
Its net profit shot up thirty three percent to three hundred and thirty four million euros, and it also managed to improve its free cash flow seventy four percent to one hundred and thirty eight million euros. Interestingly, Ferrari says that
forty three percent of the cars that it did sell were hybrids, and maybe that bodes well for when it starts to go electric. Hey, maybe this
ride sharing stuff is starting to make financial sense. Uber, which has been
around since two thousand and nine, just posted its first quarterly operating profit thanks to record bookings. It brought in nine point two billion dollars in revenue,
fourteen percent from a year ago, and it made a three hundred and twenty six million dollar operating profit versus a seven hundred and thirteen million dollars loss in the second quarter of last year. It also generated one point one billion dollars
in free cash flow. Uber's stock is up nearly sixty percent from a year
ago, and it currently enjoys a market cap of ninety four billion dollars.
At Schiffler we Pioneer Motion electrifying mobility, manufacturing smarta, reducing CO two emissions, making energy production clean. Scheffler Pioneer's Motion to advance how the World moves
Swagon is once again looking to acquire EV technology from a Chinese automaker. Last
week, it made a deal with Xpunk to get its EV architecture and the software and hardware that goes along with it, and last month Audi also struck a deal to get an evy platform from SAIC. Now, Reuter's reports that
VW is in talks with China's Leap Motor to buy an EV platform that would be used for VW's Jeta brand. VW and Leap Motor both declined to comment
on the report, but VW is making these deals because it's software division, Carriad, which was tasked with developing these technologies, ran into all kinds of problems which delayed the group's future. Evs Ford has restarted production of the F
one fifty Lightning at its Rouge Electric Vehicle Center in Michigan. The automaker halted
production for six weeks so it could retool the plant to boost manufacturing capacity.
By this fall, Ford expects the Lightning to be running at a one hundred and fifty thousand unit annual run rate. It's prioritizing high demand models like the
XLT, which accounts for more than fifty percent of new orders. Updates to
the plant include new equipment that automatically measures and validates body fitment and a new station for wheel alignment and headlamp aiming. Porsche is coming out with a special
edition of the nine to eleven called the ST, a name that it previously used in the early nineteen seventies for lightweight racing models, and the new nine eleven ST is no different. It sheds seventy pounds or nearly thirty two kilograms
thanks to things like leather door polls, lightweight glass and exhaust system, mag wheels, ceramic breaks, and even a lithium ion battery. The car is
like a molding of the nine to eleven GT three Touring and the GT three RS, and it's the first time the RS is nearly five hundred and twenty horsepower engine has been paired with a manual transmission. It's also the first time
on nine to eleven, with its new multilink rear suspension hasn't been paired with rear wheel steering. It sounds like a real driver's car, but Portia is
going to make less than two thousand examples and each one will cost just shy of three hundred grand. Off Road enthusiasts are rejoicing, while Jeep executives probably
cried themselves to sleep. Toyota revealed the all new Land Cruiser, which for
many of us, is going from along in the tooth somewhat clunky V eight powered suv that was probably overpriced to a much more efficient vehicle that rides on Toyota's TNAF platform, which is also used by the new Tacoma and Tundra it's over four inches narrower and over an inch shorter than the model that the US a few years ago. But there is another version of the land Cruiser called
the three hundred series sold in other parts of the world that came out in twenty twenty one, but it's much bigger and more closely related to the Sequoia.
The new land Cruiser is called the two fifty series and is powered by everything from a low output six cylinder to the top of the line two point four Leader hybrid that makes three hundred and twenty six horsepower and four hundred and sixty five pound feet of torque, but it depends on the market. For
example, only the two point four Leader Hybrid will be offered in the US.
Living up to its heritage, the new land Cruiser is very off road capable and features a multimode four by four system that includes a standard Swaybard disconnect system, but it also brought the vehicle into the new age with digital display screens and driver assistance tech. The new Land Crew will be built in Japan,
and it says sales will kick off in twenty twenty four. In the
US, it will carry a starting price in the mid fifty thousand dollar range and this has got to put Jeep on even higher alert. Ford already swooped
in and stole sales with the Bronco and Bronco Sport and on paper, this new land Cruiser looks really competitive and land cruiser fans in Japan and Australia will be happy to know that Toyota is also updating the old land Cruisers seventy, which has been around since nineteen eighty four. It will now be available with
a two point eight Leader diesel engine that makes nearly two hundred horse power and it comes with a more modern interior. The diesel is the only engine offered
in Japan, but Australia will still sell a V eight and pick up version as well, and that brings us to the end of today show. Thanks
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