Today's NADA End-of-Day Auto News Recap - Friday December 7, 2018
Tokyo prosecutors plan to indict former Nissan Motor Co. Ltd. Chairman Carlos Ghosn on Monday for financial misconduct, the Nikkei business daily reported, ratcheting up their case against the auto tycoon. Prosecutors also plan to indict on the same day former representative director Greg Kelly as well as the automaker itself, the Nikkei said on Friday, citing unidentified sources.
General Motors Chief Executive Mary Barra came under harsh criticism from members of Congress from Michigan on Thursday for building a new vehicle in Mexico while ending production at five North American assembly plants and cutting nearly 15,000 jobs. On the second day of meetings on Capitol Hill, Barra faced a tough session with normally supportive lawmakers from the state where GM is based and has thousands of workers.
A former Amazon executive who oversaw customer fulfillment centers for the online retail giant will lead Fiat Chrysler Automobiles' operations in North America. Mark Stewart, who was vice president of operations for Seattle-based Amazon, has been named FCA's chief operating officer for North America, taking over a role that had been held by CEO Mike Manley.
Source: Detroit Free Press
Despite an increase in subprime loan volume in the third quarter, auto loans to consumers with the riskiest credit histories hit their lowest overall share of the market in 11 years, according to Experian.
Source: Automotive News
Though the top-selling rides on the road continue to be brawny full-size pickup trucks, their sheer size and cost can be prohibitive for many buyers who simply require added utility in an affordable and maneuverable package. That’s where the suddenly swelling midsize truck segment – now being referred to in the industry as “lifestyle” pickups – is coming into play. Source: Forbes