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 Car Companies in trouble.
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oldtimer
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Posted - 26 Jul 2019 :  17:04:58  Show Profile Send oldtimer a Private Message  Reply with Quote
There are clearly too many car manufacturers making too many cars. There will, surely, be some rationalisation.

Here is one:
quote:
Nissan to cut more than 12,000 jobs globally as profits plunge by 98.5 per cent
quote:
Its first-quarter operating profit plunged 98.5 per cent to 1.6 billion yen ($21.25 million) as it continues to struggle in North America, a key market where it has been stung by mounting costs of vehicle discounts to keep up with rivals.

Years of heavy discounting to grow sales has left Nissan with a cheapened brand image and low vehicle resale values, while the costs to offer high discounts have hit its bottom line.


https://www.abc.net.au/news/2019-07-25/nissan-to-cut-more-than-12000-jobs-globally-as-profits-plunge/11347654

The secret of life is honesty and fair dealing. If you can fake that, you've got it made.
Groucho Marx

skaifeman
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Australia
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Posted - 26 Jul 2019 :  20:57:16  Show Profile Send skaifeman a Private Message  Reply with Quote Copy this URL to Link to this Reply
Nothing new OT.

There are more than 60 brands sold in Australia, far more than in the United States despite the nation's much smaller population.
You'd wish there was rationalism back in 2013.

We can say what we want about Trump, but he's driven their own manufacturing stocks up, and jobs have followed.


"Ford’s Bathurst winning bonus didn’t even cover the cost of the after-party" - Allan Moffat, 1977
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Zac
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Australia
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Posted - 26 Jul 2019 :  21:23:04  Show Profile Send Zac a Private Message  Reply with Quote Copy this URL to Link to this Reply
quote:
Originally posted by skaifeman

We can say what we want about Trump, but he's driven their own manufacturing stocks up, and jobs have followed.


From everything I have read, the US auto industry is getting by - in spite of Trump. Google anything similar to "US auto industry Trump" to see what I mean.
https://www.businessinsider.com.au/trump-keeps-hurting-us-auto-industry-2019-5?r=US&IR=T
That's a brief look at millions of links with negative news on Trump and the auto industry. Here's an interesting one:
https://www.businessinsider.com.au/why-trumps-views-on-the-us-auto-industry-are-childish-2018-11?r=US&IR=T

You have to look pretty hard to find anything positive about Trump and the car industry. Back to oldtimer's post: I agree. Way too many makers making way too many cars for too few buyers. The Nissan story is one of many.

Edited by - Zac on 12 Dec 2019 07:26:24
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oldtimer
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Posted - 27 Jul 2019 :  15:05:38  Show Profile Send oldtimer a Private Message  Reply with Quote Copy this URL to Link to this Reply
And another.

How long can low cost Indian TATA hold onto a losing prestige car maker?

JLR are about to start using BMW engines. Could BMW buy the company?

quote:
Jaguar Land Rover (JLR) has reported further pre-tax losses during the previous quarter, totalling £395 million ($707.7m), compared to the £264m ($473m) during the same period last year.

https://www.drive.com.au/news/jlr-posts-707-7m-quarterly-loss-122025.html?

And another:
quote:
Ford has recorded an 86 per cent drop in profits for the second quarter of 2019, blaming a significant rework of its European arm.

https://www.drive.com.au/news/ford-profits-crash-amid-european-restructure-122031?trackLink=articleResults3

The secret of life is honesty and fair dealing. If you can fake that, you've got it made.
Groucho Marx
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skaifeman
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Australia
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Posted - 12 Dec 2019 :  10:08:00  Show Profile Send skaifeman a Private Message  Reply with Quote Copy this URL to Link to this Reply
Aston Martin the same - with Lawrence Stroll looking into it:
https://www.pistonheads.com/news/general/takeover-rumours-dont-spoil-aston-martins-party/41445

Globally (certainly Aus-wide), we're in a car slump - it's what has further nailed Holden's position.


"Ford’s Bathurst winning bonus didn’t even cover the cost of the after-party" - Allan Moffat, 1977
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bigem
A polar bear



Australia
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Posted - 12 Dec 2019 :  10:25:01  Show Profile Send bigem a Private Message  Reply with Quote Copy this URL to Link to this Reply
Too many manufacturers with too many models is the problem. Look at the stupidity applied by both BMW and Mercedes Benz to match AUDI model for model! Neither of these companies have a Volkswagon to draw platforms from like AUDI but keep spitting out more and more model variants! Some very forgettable and almost unsaleable cars is the result!

New Commodore Hey! So you used your own money? Would you like to buy a used bridge?
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troy01505
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Australia
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Posted - 12 Dec 2019 :  10:33:54  Show Profile Send troy01505 a Private Message  Reply with Quote Copy this URL to Link to this Reply
They are all adjusting line ups and direction so no doubt they are going to take a big hit for a few years. Unfortunately the next decade or so we’ll see some brands disappear through mergers and buy outs.

2030 will see no more then half the amount of new vehicle line ups we are seeing now.
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skaifeman
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Australia
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Posted - 12 Dec 2019 :  11:19:24  Show Profile Send skaifeman a Private Message  Reply with Quote Copy this URL to Link to this Reply
quote:
Originally posted by troy01505

They are all adjusting line ups and direction so no doubt they are going to take a big hit for a few years. Unfortunately the next decade or so we’ll see some brands disappear through mergers and buy outs.

2030 will see no more then half the amount of new vehicle line ups we are seeing now.


Should've been the way in mid-2000's to avoid what we have in Aus now.
Refer my above post - over 60 car brands in Aus... not models - manufacturers!


"Ford’s Bathurst winning bonus didn’t even cover the cost of the after-party" - Allan Moffat, 1977
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Preditor
Transporter Driver


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Posted - 12 Dec 2019 :  17:49:21  Show Profile Send Preditor a Private Message  Reply with Quote Copy this URL to Link to this Reply
Yes even the Mustang looks like it could stopped being sold in Australia , with sales numbers down and the sacking of 1022 employees for Flat rock.
https://performancedrive.com.au/ford-mustang-sales-continue-fall-long-wait-for-australian-deliveries-1221/

I heard there will be a name change to the series next year, the new name is Penske mustang cup series with their major sponsor to be Laxative guarantee to clear any backing up at Bathurst 2020.
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falcon_cobra
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Australia
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Posted - 12 Dec 2019 :  18:48:12  Show Profile  Click to see falcon_cobra's MSN Messenger address Send falcon_cobra a Private Message  Reply with Quote Copy this URL to Link to this Reply
well we should have stuck with the Button Plan

_Mford
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oldtimer
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Posted - 12 Dec 2019 :  20:02:48  Show Profile Send oldtimer a Private Message  Reply with Quote Copy this URL to Link to this Reply
AP Eagers is in trouble, quite apart from the evaporation of customers from some of it's previously big selling brands.

As Channel 9 found out, the purchaser is liable for problems of the company taken over.

AP Eagers has been on the acquisition trail including some big targets.

In this case, some of their companies, using their old payroll systems have been underpaying employees.

AP Eagers now has to carry the can for these mistakes, whether accidental or deliberate.

quote:
Australia’s biggest car retailer, AP Eagers, has become the latest company to confess to underpaying its workers, this time by as much as $4.5 million.

AP Eagers said it had identified anomalies in its payroll system that had led to the underpayment of roughly 6200 workers over as long as seven years.

The new wages scandal follows a string of companies admitting to have underpaid wages including Woolworths, which discovered it had not paid 5700 workers as much as $300 million, the Commonwealth Bank, whose underpayments have topped $53 million, and NAB, which recently discovered 730 staff were underpaid $850,000.

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Other companies also recently owning up to underpaying wages include Bunnings, Super Retail Group, Michael Hill and 7-Eleven.

AP Eagers said the wages issue on its internal systems had unintentionally resulted in a number of employees not being paid their full entitlements.

It said it identified the inconsistencies during a company-initiated review while implementing a new time and attendance system to centralise its payroll systems.

READ MORE:More Woolies staff underpaid|Pay rip-offs swamp Fair Work|CBA underpayments top $53m|Backlash from business on wage penalties
“These systems have been previously managed by disparate, individual dealerships, some of which were acquired by AP Eagers in recent years,” the company said.

After the inconsistencies were identified, PwC was engaged to undertake an external assessment of AP Eagers’ payroll to determine the extent to which past and present employees had been impacted. PwC’s assessment has been reviewed in detail by the AP Eagers Board.

Following the assessment, AP Eagers self-reported to the Fair Work Ombudsman and pledged to fully cooperate during any investigation conducted by the Ombudsman.

“AP Eagers has determined that approximately 6200 employees have been impacted over a seven-year period. The total payment shortfall equates to $4.5 million or just under 0.25 per cent of a total of $2.1 billion payments made to employees over that same period.

AP Eagers CEO Martin Ward said: “We unreservedly apologise to our employees. AP Eagers is committed to paying the amounts owed to past and present employees, in full and with interest, as soon as practically possible. We understand the importance of ensuring our employees are paid their entitlements in full and on time – we take full responsibility for the mistake and we are very sorry.”

Specifically, the issues relate to award classification, the application of overtime, superannuation contributions and deductions, the company said in its statement.

“AP Eagers is implementing a centralised time and attendance system as well as improvements to its payroll processes to ensure all employees are paid their full entitlements going forward. Implementation of this system is being closely monitored by the executive leadership team and the AP Eagers Board.

“AP Eagers has also committed to undertake a review of AHG’s payments to employees following its acquisition of the company in September 2019.”


https://www.theaustralian.com.au/business/companies/ap-eagers-underpays-6200-staff-as-much-as-45m/news-story/6b86a211453b9e79c22e1676bd345341

And another.
https://thenewdaily.com.au/finance/work/2019/12/17/ap-eagers-wage-theft/

The secret of life is honesty and fair dealing. If you can fake that, you've got it made.
Groucho Marx

Edited by - oldtimer on 17 Dec 2019 21:25:13
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REM
Team Manager



Australia
14410 Posts
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Posted - 27 Dec 2019 :  07:38:03  Show Profile Send REM a Private Message  Reply with Quote Copy this URL to Link to this Reply
quote:
Originally posted by Preditor

Yes even the Mustang looks like it could stopped being sold in Australia , with sales numbers down and the sacking of 1022 employees for Flat rock.
https://performancedrive.com.au/ford-mustang-sales-continue-fall-long-wait-for-australian-deliveries-1221/



I think the part where your article says it remains the biggest selling sports car in the world and the Ford CEO assures it will be ongoing in Australia requires consideration....

That's great, it starts with an earthquake
Birds and snakes, and aeroplanes
And Lenny Bruce is not afraid!
"Remember that in the end nobody wins, unless everybody wins!" Springsteen BTR.


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oldtimer
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Posted - 31 Dec 2019 :  01:49:38  Show Profile Send oldtimer a Private Message  Reply with Quote Copy this URL to Link to this Reply
quote:
he German car industry could face a “disaster” next year as manufacturers face the prospect of being hit with huge fines for breaching European emissions rules, researchers have warned.

Volkswagen, Germany’s largest company, could be liable to pay a penalty of several billion euros next year if it cannot sell enough electric vehicles to meet its targets, according to one estimate. BMW and Daimler, its ­national rivals, may be saddled with bills running into the hundreds of millions of euros.

The past five years have not been kind to German carmakers. Since 2015, Daimler’s share price has nearly halved and those of VW and BMW have fallen by more than a third amid a scandal over emissions-cheating software and a shift away from the internal combustion engine.

While sales have begun to recover and profits are rising again, the recovery could be sorely hampered by European Union carbon emissions standards that will come into effect on January 1. New vehicles must emit on average no more than 95g of carbon dioxide, equating to 4.1 litres of petrol, or 3.6 litres of diesel, for every 100km they travel. For every gram of CO2 over this limit, the carmaker must pay a fine of €95 ($152) per car. The ­Tiguan, VW’s best-selling sport utility vehicle, consumes at least five litres of petrol, or four litres of diesel, per 100km.


https://www.theaustralian.com.au/world/the-times/german-carmakers-face-vast-penalties/news-story/f16f0fe6dfc8ffb5c55561a11196dbc3

The secret of life is honesty and fair dealing. If you can fake that, you've got it made.
Groucho Marx

Edited by - oldtimer on 01 Jan 2020 11:06:26
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skaifeman
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Australia
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Posted - 06 Feb 2020 :  12:54:41  Show Profile Send skaifeman a Private Message  Reply with Quote Copy this URL to Link to this Reply
Reading your other topic Oldtimer, forecasts for the Chinese economy aren't great following the outbreak of Coronavirus.
This will undoubtedly affect a good chunk of car companies...

Some reports suggest that Ford won't make another recession, or be deemed bankrupt:
https://www.ccn.com/next-recession-can-bankrupt-ford-motor-company/

Not sure on the accuracy of the source, but another article, even later dated, suggest bankruptcy is a foregone conclusion.

Has GM's focus on the USA been a lucky move?


"Ford’s Bathurst winning bonus didn’t even cover the cost of the after-party" - Allan Moffat, 1977
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REM
Team Manager



Australia
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Posted - 08 Feb 2020 :  11:44:59  Show Profile Send REM a Private Message  Reply with Quote Copy this URL to Link to this Reply
The article says Ford's reliance on big capacity SUV's F series is a risk if there is a recession.....if GM has a diversity of product, and enviro engines, then I guess they are safe..? Frankly, this week's announcement from the UK about no internal combustion engines by 2035 will send shock waves through the entire industry globally.....a new wave is coming...fast, there will be casualties...

That's great, it starts with an earthquake
Birds and snakes, and aeroplanes
And Lenny Bruce is not afraid!
"Remember that in the end nobody wins, unless everybody wins!" Springsteen BTR.



Edited by - REM on 08 Feb 2020 11:47:11
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Zac
Lumberjack



Australia
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Posted - 08 Feb 2020 :  15:18:38  Show Profile Send Zac a Private Message  Reply with Quote Copy this URL to Link to this Reply
All kinds of speculation about the fortunes of various carmakers. Here's one more extraordinary than most:

https://www.ccn.com/elon-musk-can-now-easily-buy-ford-motor-company/

https://www.businessinsider.com.au/ford-stock-4q-earnings-miss-harsh-discount-tesla-market-value-2020-2?r=US&IR=T

I'd say don't hold your breath waiting for that one to eventuate, but just that it's even being discussed...

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