Even though a no-deal Brexit scenario would have multiple political and economic repercussions, we’re here to focus specifically on its impact in regards to the UK’s automotive industry. As The Economist points out, just by leaving the European Union, Britain is opening itself up to facing potentially damaging consequences financially, with a no-deal Brexit being the most worrying prospect of all. It all starts with uncertainty, an effect that has already claimed Honda’s Swindon plant, which the Japanese automaker will shut down come 2021. Brexit is also why Nissan decided against building its latest X-Trail crossover in Sunderland, and why Jaguar Land Rover had to let some of its workforce go. A no-deal scenario would surely mean further restructuring for all automakers. Ford, who only makes engines in Britain nowadays, said that such an outcome would be “catastrophic”, while suggesting that it would almost certainly move production abroad if the worst … [Read more...] about How Badly Should Britain’s Car Industry Fear A No-Deal Brexit?
Volvo has begun exporting the all-new S60 from its plant in Ridgeville, South Carolina, to Europe. The cars will arrive at the Belgian port of Zeebrugge to connect with distribution centers in Ghent. From there, they will be redirected to retailer networks in Sweden, Norway, Denmark, Finland, the Netherlands, Belgium, Ireland, the UK, Italy, Spain, Germany, Switzerland, Austria, Poland, Romania, Hungary, the Czech Republic, Slovenia and Bulgaria. Throughout 2019, new S60 models will also make their way into Turkey, Australia and New Zealand, plus 93 other countries including the Middle East, Africa and the Asia Pacific region – excluding China. “We began commercial production of the S60s just six short months ago here in South Carolina, and we’re excited to be building cars for customers around the world,” stated Volvo’s manufacturing VP for the Americas, Jeff Moore. “Export markets are critical to the long-term success of our plant and we’re … [Read more...] about Volvo’s Made In The U.S.A. S60 Coming To Europe
The Rolls-Royce Cullinan may be exorbitantly expensive but the British marque is actually struggling to keep up with demand for its luxury SUV. Automotive News Europe reports that order books for the Cullinan are full through July and that despite consistently upping production and adding 200 employees to its UK plant since the SUV’s launch, Rolls-Royce wants to increase supply further. “I would like to have a little bit more supply,” Rolls-Royce Motor Cars Americas chief executive Martin Fritsches said. “And I don’t get it because we are running on 100 percent of production capacity, increasing the production capacity throughout the weeks and months, but still not being able to catch up to demand.” Money is no object for Rolls-Royce buyers. Prices for the luxurious Cullinan start at $325,000 in the United States and while that’s a huge amount for an SUV, Fritsches said that half of Cullinan buyers are actually new to the brand and that the … [Read more...] about Rolls-Royce Can’t Keep Up With Demand For The Cullinan
Imagine taking a ride in someone else’s car and having the vehicle learn pretty much everything about you in mere seconds. Pretty sci-fi, right? Actually no, it’s a technology that already exists. Israeli AI company Eyesight Technologies has unveiled CabinSense, an in-car occupancy monitoring system that can scan and analyze car passengers even more than a drowsiness detection system does with the driver. As soon as a person gets into a CabinSense-equipped car, the system scans their face, identifies who they are and records their age, gender, height and body mass, and position in the seat. Why would anyone want all that attention directed on the passengers? According to Eyesight, the monitoring contributes to a safer car ride since it can tell if the passenger is wearing a seatbelt and sitting safely. It can also disable airbags when detecting child seats, passengers sleeping across the back seats, or a child in an adult’s lap, thus preventing injury from the impact … [Read more...] about Car Monitoring Tech Learns Your Passengers’ Age, Gender And A Whole Lot More
According to the Federal Reserve Bank of New York, a record 7 million Americans are 90 days or more behind on their car loan payments, which is even worse than how it was during our last financial crisis. This is a truly surprising fact, seen as how the economy has been described as being strong right now, with low unemployment rates. In reality though, it seems many American consumers are still struggling to make ends meet. A chilling reality “The substantial and growing number of distressed borrowers suggests that not all Americans have benefited from the strong labor market,” was written in a New York Fed blog post. Since a car loan is usually one of the first payments people tend to make (they need cars to get to work), when issues with these loans are on the rise, it usually means trouble for low-income and working-class Americans. “Your car loan is your No.1 priority in terms of payment,” said Fitch Ratings exec, Michael Taiano. “If you don’t … [Read more...] about 7 Million Americans Are 3 Months Behind On Their Car Loans; Does That Spell Trouble Ahead?