All posts by Francis Mitterrand

News

Toyota sold over 1 million C-HRs in Europe

In 2016, Toyota launched a subcompact crossover SUV, the Toyota C-HR, and it took just eight years for over 1 million cars to be delivered to their owners. We are only talking about cars sold on European soil, which is a respectable achievement for the world’s largest car manufacturer.

Why is this car so popular? Well, Toyota’s plan was to design a car that would be attractive to customers, which turned out to be a complete hit, as design was decisive for customers in choosing this SUV. Since it appeared on the market, it has become one of Toyota’s best-selling models, and in 2024 alone, over 100,000 customers chose the C-HR.

In 2023, the second generation of this model was launched, which also turned out to be good timing. Precisely in that period, the popularity of SUV cars began to grow intensively, so it can be said that Toyota was lucky. It is offered with three powertrain versions: 1.8 L 2ZR-FXE I4 engine combined with an electric motor for a total output of 140 hp (103 kW), 2.0 L M20A-FXS I4 engine combined with motors for a total output of 194 hp (145 kW) , and a plug-in hybrid variant with a 2.0-L M20A-FXS I4 engine combined with a motor for a total output of 220 hp (164 kW). All versions use an eCVT transmission.

Source: Toyota

News

Porsche wants control of Bugatti Rimac

In July 2021, Rimac Group became the majority owner of Bugatti with 55%, and that could soon change. According to the German magazine Manager, Porsche is considering taking a majority stake in order to gain control. The information was confirmed by Mate Rimac, who announced that negotiations are underway.

Porsche currently owns 45% of Bugatti Rimac, and what they most resent about Rimac is the delay in the development of the Turbillon model, for which they hold the developers and their disorganization mostly responsible. They also believe that Rimac has poor organization, as shown by the bad sales results of the Rimac Nevera hypercar. In 2023, Rimac Automobili recorded a loss of 17 million euros, which Rimac explains by investments in new models, including the Tourbillon.

Whether an agreement will be reached on the acquisition of a majority stake in Bugatti Rimac depends not only on Mate Rimac, Porsche CEO Oliver Blume and CFO Lutz Meschke, but also on the remaining shareholders. In addition to these two companies, shares in Bugatti Rimac are also owned by Hyundai, Goldman Sachs, Softbank and Investindustrial.

In an interview with Manager, Mate Rimac said that talks about a possible transaction are underway, but that besides Porsche, there are other interested parties.

Source: Manager

News

Mercedes-Benz star maker declared bankruptcy

The German automotive industry is in a major crisis. While the big players are finding ways to survive in the market, the small companies that have been supplying them for years are quietly shutting down. One of them is Gerhardi Kunststofftechnik GmbH, the company that produced the Mercedes-Benz logo.

Gerhardi Kunststofftechnik was founded in 1796, survived two world wars, but not the current crisis. It started its journey more than two centuries ago with the production of metal products, and then entered the automotive industry as a supplier to the Mercedes-Benz star. However, the long-term decline in demand for their products led to the shutdown and layoff of 1,500 employees.

Other suppliers could face the same problem, such as French company Forvia SE, which announced it was cutting thousands of jobs, or Swedish battery manufacturer Northvolt AB, which is also in major financial trouble.

The crisis in Europe is getting worse and there is no way out in sight. VW recently announced that it will lay off 35,000 employees over the next six years and move production of the Golf Mk8 to Mexico, while other manufacturers have begun to reduce and shut down production at certain plants.

Source: Bloomberg