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The Executive Board of the Volkswagen Group (VOW.DE)* yesterday presented the Supervisory Board with 12 initiatives to make the financially bedridden Group profitable and competitive by 2030. [Share price is down 66% during the last five years; -25% year-over-year at ~€76. The Wolf in the room from a company with a history starting in Wolfsburg is how many German IG Metall jobs will be devoured. Furthermore, stakeholders have a legitimate question about why these steps weren’t taken long ago – AutoCrat?]
“Our goal is clear: by 2030, we will make the Volkswagen Group the most attractive automotive company in the world – with iconic brands, inspiring products, leading technologies, robust financial results, reliable capital market performance and a team spirit in action,” claimed Oliver Blume, CEO of the Group. “With our future plan, we are moving into the next phase of transformation by our own means. We are making the Volkswagen Group faster, more resilient and more competitive: through less complexity, focused technologies, an even stronger alignment of products, development and production with regional markets, the reduction of over-capacities, a streamlined equity portfolio and significantly leaner structures. In this way, we are creating the conditions for sustained success – even in an increasingly demanding environment.” Continue reading →
Ford Mustang Recalls – Sudden Power Loss, Washer/Wipers
Ford Motor Company (NYSE: F) is recalling ~43,000 2021-2023 model-year Mustang Mach E vehicles for powertrain [primary drive unit or PDU- AutoCrat] failures and 2024-2026 Mustang and 2025-2026 Mustang GTD models for defective wiper and washer systems. All told ~111,000 Mustangs are affected. The most serious safety defect is a the differential pinion shaft failure (NHTSA recall 26V417 or 26V-417, Ford 26S50) that results from the Mexican supplied Borg Warner PDU for the 2021-2023 Mustang Mach E. The rear-wheel drive vehicles a rear differential pinion shaft may fracture without warning. (Read AutoInformed.com on Ford Leads All Manufacturers in NHTSA Recalls and Ford Recalls Expand – Six More Covering ~172,000 Vehicles)
“In the event of a differential pinion shaft failure, the customer may experience a loss of motive power and/or unintended vehicle movement with Park requested if the parking brake is not applied. A loss of motive power or unintended vehicle movement increases the risk of a crash,” Ford said in the mandatory safety defect recall filing made public by the National Highway Traffic Safety Administration (NHTSA) this morning. Continue reading →