Honda confirms it has a new CEO

Honda has a new CEO, Kia is starting to perform Carnival and Renault. All that and more in it The morning shift before February 19, 2021.

1st Gear: Honda confirms it has a new CEO

It was only Wednesday this week when sources told Reuters that Honda’s head of research and development would become CEO, news that Honda denied. In addition to Honda’s R&D chief having now become the new CEO, the company confirmed with a press conference and all.

This is apparently an attempt to keep up with the Teslas.

From Reuters

Honda Motor Co, Japan’s second-largest automaker, said on Friday that its CEO, Takahiro Hachigo, would step down and be replaced on April 1 by Toshihiro Mibe, the head of research and development.

Mibe, 59, who has worked with Hachigo to drive structural reforms, has been president of the R&D unit since 2019, following stints in engine development and the powertrain sector after joining the company in 1987.

“Among other things, we would consider using outside insight or potential alliances to make decisions without hesitation,” Mibe told a press conference calling for Honda’s “great transformation with great speed”.

His appointment, first reported by Reuters this week, comes as Honda races to catch up on all-electric cars and faces competition from newcomers and tech giants such as Tesla, Apple and Amazon.

“He has looked into the future, a direction Honda should take,” Hachigo said at the conference, describing Mibe’s expertise in environmental technology and energy and his focus on change as reasons for the choice.

Honda is in a weird middle ground, in which it is doing fine in many ways, but I could see it going flat-footed in five years’ time when the transformation to electric cars really catches on and it remains like, “Come and buy the Honda Insight.”

2nd gear: the Kia Carnival is coming!

The artist previously known as the Kia Sedona is not a minivan, you idiot. It is a “Multi-purpose vehicle”, a term that has been around for a while, but one that always confuses me. All vehicles are multifunctional?

Regardless, Kia has started ramping up.

From Automotive News

The Carnival will be unveiled on February 23 and will be the first car in the US to feature the new Kia logo and badges.

Kia said the Carnival MPV will “push the boundaries of design and innovation to become a versatile and unexpected companion.”

Based on a sample image released by Kia, it offers three rows of seats, space for seven or eight passengers, and ‘bold and boxy’ styling that resembles the brand’s recent latest commercial vehicles such as the Telluride, Sorento and Seltos.

The changes are intended to remain viable in a market shifting from traditional minivans and embracing crossovers and SUVs. While the minivan segment continues to shrink, it remains a key entry point for some brands for buyers, particularly families, who want more functionality (think multiple cup holders and storage bins), more flexible seats, and easier entry and exit into a vehicle.

An “unexpected companion” is my favorite description of a new minivan in probably forever.

3rd gear: Renault has suffered a record loss

This would be bad news for most car manufacturers. IAnd that also applies to Renault. It’s just that Renault is the kind of company – partially owned by France itself – I would like that persevere through thick and thin and always be with us.

All of that means we probably shouldn’t worry too much that Renault is predicting very bad things for 2021.

From the Financial Times

Renault suffered a record loss of € 8 billion in 2020 and warned of a difficult year ahead due to slow demand and a global shortage of microchips that turned the industry upside down.

The automaker and its alliance partner Nissan, which contributes to the income of the French group, were badly hit in the first half of last year when the pandemic hit demand across Europe.

The net loss exceeded the analysts’ forecast of € 7.8 billion, but performance improved from July, with Renault describing 2020 as a “year of contrasts”.

The operating margin was 3.5 percent in the second half of the year and Renault generated positive operating free cash flow in the automotive sector, although the company still posted a net loss of € 660 million.

Indeed, it has been a year of contrasts. Still can’t believe the Twingo is dead

4th gear: Daimler is not keen on its electric car brand in China

China is moving towards EVs pretty quickly, but somehow Daimler’s EV brand there, Denza, isn’t doing very well. Bloomberg says that Daimler is now “bringing the brand to the attention”.

Ola Kallenius, Chief Executive Officer of Daimler AG, said the success of the latest Denza crossover will determine the future prospects of the Chinese electric vehicle brand with partner BYD Co. Ltd., after years of poor sales.

“The money investment is behind us” for the model, Kallenius told reporters on Thursday. “Now we look at how Denza develops and then we will make decisions.”

Lukewarm demand for Denza’s electric cars has given rise to concern as the maker of Mercedes-Benz automobiles works to increase returns. BYD declined to comment.

Daimler and BYD founded the brand ten years ago to tap into growth in the Chinese new energy car market. While sales have soared, fierce competition in price sensitive volume segments is challenging profitability.

5th gear: Uber remains bad

Up the head this Reuters story is so obvious it’s almost shocking. “Uber drivers entitled to workers’ rights, the highest UK court rules as a blow to the business model.” As in, Uber’s entire business model exploits its employees.

A group of Uber drivers are entitled to workers’ rights, such as the minimum wage, Britain’s Supreme Court ruled Friday in one fell swoop for the ride service affecting millions of others in the gig economy.

In a case led by two former Uber drivers, a London labor court ruled in 2016 that they were owed duties that also included paid holidays and rest breaks.

Uber drivers are currently treated as self-employed, which means they have only minimal protection under the law, a status the Silicon Valley-based company tried to maintain in a lengthy legal battle.

“The Supreme Court unanimously rejects Uber’s appeal,” Judge George Leggatt said Friday.

[…]

Lawyers say it may be several months before the details of Friday’s decision are used at a subsequent labor court hearing to settle practical matters about amounts owed to drivers.

Law firm Leigh Day says eligible drivers may be entitled to an average of £ 12,000 ($ 16,780) in compensation. It represents more than 2,000 potential claimants.

Uber is just not defensible.

Reverse: John Paul Jr.

It is the birthday of the deceased driver. He had a strange life.