This week’s most impactful OEM headlines, including:
1. Toyota books third straight first-quarter profit record on cost cuts, currency gains
Toyota has posted their third straight year of record first-quarternet profit, crushing analyst estimates, according to Reuters.com. Cost cuts and currency gains made up for slightly weaker vehicle sales for Toyota.
2. BMW CEO confirms there are numbers between 3 and 8
BMW’s i3 and i8 battery-powered models have a friend in between them. TheTruthAboutCars.com says there is talk about an electrified X3 Crossover, a 5-series sedan, and a larger Tesla Model X-sized SUV in the “i” car range. This speculation comes from BMW Chief Harald Krueger who said there was room in the “i” range for something else.
3. VW banking on engineering center to jump U.S. sales
Volkswagen is making efforts to sell more cars in the U.S. and update its product line-up faster by opening a centralized entering and product development center in Chattanooga, Tennessee. USA Today says the 900 million dollar expansion plant will employ 2,000 more workers and will break ground in late 2016.
4. Alfa Romeo’s future crossover is getting its final touches
Alfa Romeo is finishing its first crossover and will bring the car to market later next year in both Europe and the U.S. According to TheTruthAboutCars.com, FCA’s CEO Sergio Marchionne confirmed the model, and although it hasn’t been publicly named, it will be based off Alfa Romeo’s coming Giulia.
