+++ BENTLEY will celebrate the most profitable 12 months in its 102-year history at the end of 2021, with its total profits for the first 3 quarters alone surpassing all final full-year figures on record. For the year to date, the luxury marque has posted operating profits of €275 million , which is €105 million more than it achieved in the whole of 2014, its most profitable year on record. It has sold 10.934 models worldwide so far in 2021, a 46 % increase on the pandemic-blighted 2020 but, more significantly a 53 % increase on 2019. Sales in China, the brand’s most important market, have doubled this year and the firm has also recorded huge spikes in the Americas (43 %), Asia Pacific (55 %) and Middle East (55 %). The brand has yet to confirm which were its biggest-selling models but in the past 2 years has launched the all-new Flying Spur, the heavily updated Bentayga and various new derivatives of its Continental coupé. The limited-run Mulliner Bacalar made its public debut this year, too, and all 10 models sold for upwards of €3 million apiece in the Netherlands. The brand has generated €1.949 billion in revenue for the year to date; a 40 % increase over its 2020 takings, which were already 7 % up on 2019’s. That’s partly down to a 14 % return on sales, which compares with a loss of 4 % on each sale in 2020. CEO Adrian Hallmark said the results follow “3 years of product investment and reinvention, productivity improvements and cost efficiencies”. He added that the company has recently restructured its operations and that trading conditions in the wake of multiple national lockdowns have been “favourable”, helping to boost profitability. He said: “Recording an operating profit in 9 months that far exceeds any full-year figure in our history, alongside double-digit return on sales, is validation that we are on the correct path towards a sustainable business model, which is a key element of our Beyond 100 strategic ambitions. Although a positive sign of our financial strength, our aim is unchanged, to become financially resilient and the consistent and prolonged benchmark luxury car business in the world. We can only do this with an unwavering commitment to close the year well, take this success into next year and continue on our journey to fully electrify our entire model range within a decade and lead sustainable luxury mobility in the future”. +++
+++ Engineering and technology firm BOSCH will invest heavily in semiconductor technology, expanding its manufacturing facilities in Germany and Malaysia. It will put more than €400 million into its Dresden, Reutlingen and Penang facilities, with aims to ramp up chip production earlier than initially planned. Semiconductors have been in short supply for several months, and manufacturers are continuing to feel the strain. UK car production is at its lowest point since 1982 according to the SMMT, and some manufacturers, such as Jaguar Land Rover, have extended lead times while others have removed some electrical options from their models. The Volkswagen Group confirmed earlier this week that its profits had dropped for the third quarter of 2021 and blamed this largely on the chip crisis. Bosch chairman Volkmar Denner said: “Demand for chips is continuing to grow at breakneck speed. In light of current developments, we’re systematically expanding our semiconductor production so we can provide our customers with the best possible support”. Bosch will spend €150 million on its Reutlingen wafer fab testing facility, adding 150 jobs, while its Dresden factory will ramp up semiconductor production. Significant sum of the investment will go towards a 4.000 m2 ‘clean-room’ space; a testing areas where temperature, living organisms, lighting, noise and several other air factors are heavily controlled. “Our aim is to ramp up production of chips in Dresden earlier than planned and at the same time expand clean-room capacity in Reutlingen”, said Bosch board member Harald Kröger. “Every additional chip we produce will help in the current situation”. Bosch also plans to build a new automated semiconductor test centre in Penang, Malaysia, ready for 2023. The development will include clean rooms, additional office space, research and development facilities and training facilities for up to 400 associates. Plans are also in place to develop semiconductors near the facility in the future. +++
+++ FORD is readying the new Ranger for launch this month. The 4th generation version of the company’s bestselling pick-up truck will make its debut on 24 November, with sales expected to commence in early 2022. The Mk4 Ranger is the newest vehicle born from Ford and Volkswagen’s platform-sharing deal for commercial vehicles, following the Caddy-based Tourneo Connect MPV into the showrooms. The next generation Volkswagen Amarok will become the new Ranger’s twin, and is set to be launched in 2022. During the past few months, Ford has been putting the finishing touches on the Ranger’s development programme. The brand says its test regime has entailed prototypes covering the equivalent of 1.25 million kilometres, of which half were spent with the pick-up’s bed at maximum capacity. John Willems, Chief Engineer for the Ranger, said: “Computer simulations have helped us speed up development, while lab testing has helped us refine and test specific components. But there really is no replacement for real-world testing to really see how it stands up to years of customer use”. It’s clear that the pick-up’s styling won’t stray too far from its predecessor’s, blending the dimensions of the current model (which are more applicable to the European market) with the boxy front end and upright grille of the larger US-market Ford F-150. Ford will look to build on the strengths of the current model and improve the Ranger’s off-road ability. The current pick-up already comes with selectable four-wheel drive and a choice of drive modes for different terrains such as mud, snow and sand. Better versions of these systems are expected, along with a few suspension tweaks (such as new dampers and springs) to suit a broader range of off-road environments. It’s almost certain that the next Ranger will be powered by a diesel engine, at least to begin with. The powersliding test car in the company’s recent teaser video is accompanied by a soundtrack that we expect belongs to an updated version of the current pick-up’s 2.0-litre 4-cylinder EcoBlue diesel unit. There’s no word yet on whether we’ll get an electric version of the next Ranger, although it could happen during the pick-up’s lifetime. Ford has already set aside $22 billion to spend on electrification up to 2025. Ford has also launched an electric version of its stalwart Transit van, while an EV version of the larger F-150 pick-up truck has been revealed in the USA. So, it’s entirely possible that the Ranger could join its siblings in Ford’s expanding line-up of pure-electric commercial vehicles. As the commercial and passenger vehicle segments draw ever closer in terms of technology and equipment, Ford could also improve the Ranger’s cabin by fitting some of the plusher trim from its passenger cars, such as the newer Kuga. Carry-overs could include the SUV’s switchgear, dashboard trim and sharper 8 inch touchscreen. We’ll also get a new Raptor-badged performance version of the next Ranger. Ford says it has sought the advice of its customers to make the new Ranger better than the old one. The company conducted more than 5.000 interviews around the globe to get an insight into some of the day-to-day bugbears that could be rectified on the new model. Max Tran, Chief Designer for the Ranger, said: “As designers, we engaged with customers much earlier in the process, spent more time with them and got more insights than ever before. Interestingly, we found that no matter what market, our customers are doers. They like solving their own problems, and they like to feel confident in their truck, not just the way the vehicle functions but the way they feel when they’re driving it”. +++
+++ MINI ’s all-important third-generation Countryman, which will play a crucial role in the brand’s pure-electric reinvention, has broken cover on public roads for the first time. Due in 2023, the bigselling crossover will join the closely related BMW X1 in being offered with a choice of pure-electric and combustion powertrains, and will be built on the same line as its X1 sibling in Leipzig, Germany. The current-generation Countryman is made in the Netherlands under contract by VDL Nedcar. The SUV duo will move across to an evolved version of the front-driven UKL architecture that underpins the current models. Called FAAR, it can accommodate pure-combustion, hybrid and all-electric powertrains and will provide the basis for the successors to most of the BMW Group’s compact models. Importantly, however, FAAR will not be used for Mini’s long-awaited entry-level supermini, known at this early stage as the Minor, which will be built in China as part of a new joint venture between BMW and Great Wall Motors and use a platform supplied by the latter. The X1 is likely to be launched before the Countryman, given that near-ready prototypes have been testing on public roads for several months, and that will provide further details on the powertrain offering for Mini’s largest model. The EV option for each is likely to be an all-new powertrain, because the existing electric Mini hatchback uses a relatively small-capacity battery and motor and the slightly larger BMW iX3 is rear driven. Otherwise, the duo are likely to offer a familiar mix of petrol and petrol-electric powertrains, with the longest-range plug-in hybrid offering an EV range that surpasses the current car’s 50 km maximum. Crucially, the Countryman will be noticeably bigger than today’s car, with early estimates suggesting a 200 mm increase in length to provide enhanced load capacity and leg room. Effectively, this increase will bump Mini’s crossover into a new segment, moving it away from rivals such as the Toyota CH-R and Nissan Juke, and lining it up against the larger RAV4 and Qashqai. Mini’s modern-day Maxi is back for another swing at the hatchback mainstream, but is the Countryman good enough this time? The Countryman’s tenure as Mini’s only SUV model is nearly up. It will be joined in dealerships shortly after launch by an all-new electric crossover model built in China by Great Wall Motors, as part of the ‘Spotlight’ joint venture between the 2 companies. However, that model is expected to be smaller than the Countryman, so the existing car will continue to cap out the fourth generation of models sold by Mini under BMW ownership. +++
+++ NISSAN has confirmed that its Leaf will be replaced by an all-new crossover. The model is earmarked to lead the development of the firm’s Sunderland plant as an EV hub from the middle of this decade. The Japanese manufacturer announced earlier this year that it is investing around £1billion in the site in the North East, and that a new EV would be produced to take batteries that will be produced at a new factory being built next door. A teaser image of the crossover was revealed at the time of its announcement, but it didn’t make it clear if the crossover, which appears to have a slightly raised ride height and a coupé-style roofline with a sharply angled tailgate, would be sold alongside a successor to the current Leaf, introduced in 2017, or be its replacement. Now Nissan’s European boss Guillaume Cartier has confirmed that the brand has no plans for a new Leaf hatchback. “We will be crossover and we will be electrified”, he told. “By 2023, 75 percent of our cars will be electrified, one way or another, and by 2025 that figure will be 100 per cent. We are aiming to have 80 percent of our sales volumes pure electric by 2030. We will have Juke, Qashqai and then the new car that will be based in Sunderland”. When asked directly if the car would sit alongside the Leaf in the range, Cartier said, “It will replace it. It will be the new platform, but the shape will be different.” He did not specify if the Leaf name would continue or if Nissan will choose to switch badges. Either way, the decision means that by the middle of this decade, Nissan will have left all conventional hatchback markets altogether, with the possible exception of small models, if it decides to build a regular supermini to follow the Micra. The crossover will be based on the Renault-Nissan Alliance’s CMF-EV platform, which has been designed to maximise the packaging benefits of a pure-electric powertrain. The first car to use this set-up will be the new Renault Megane E-Tech Electric, which will go on sale in early 2022 with a choice of power outputs and battery capacities offering up to 292 miles of range. Given the platform tech, it’s likely that Nissan will share battery components with Renault, and beyond the common chassis parts, the car is also likely to feature the same Android Automotive infotainment system as the Megane. The Alliance as a whole announced in 2018 that it had agreed a deal with Google to use the tech giant’s software. Cartier said that the UK plant’s strong history was the key factor in its success in securing the deal to make the new model. “The heritage was why Sunderland was selected”, he said. “The demonstration of what this factory is able to do: having Leaf already, the e-NV200 van, this expertise, the capacity for innovation. That’s the reason why we’ve been able to build the future”. +++
+++ The revived OPEL Manta will arrive in 2025 to spearhead the transition of Opel into an electric-only brand, and it will be among the first in a wave of bespoke EVs from new industry giant Stellantis, alongside a reinvented Lancia Delta. Whereas the original Manta of 1970 was a rear-driven coupé, the new one will be an electric coupé-SUV. Like Ford has done with the Mustang Mach-E, Opel bosses believe that using a classic name will give the new Manta some sporting pedigree. The return of the Manta was confirmed in July, when Opel confirmed that it would launch only new electric cars from 2027. The German brand already offers electric versions of the Corsa supermini and Mokka crossover, and the impending new Astra will also be available as an EV. The Manta would probably sit just above that hatchback in Opel’s range. While no technical details for the SUV have been confirmed, it will use one of the four new bespoke EV architectures being developed by Stellantis. The most likely is the STLA Medium platform for C-and D-segment cars. This can house a battery of up to 104 kWh, delivering a range of around 700 km, and be fitted with 1 or 2 motors. The latter set-up affords all wheel drive, which could give the Manta the performance to reflect its history. Stellantis says the motors used on its new platforms can offer 0-100 kph times of around 2.0 seconds. The motor earmarked for the STLA Medium can make between 170 hp and 245 hp, so a dual-motor Manta couldoffer in excess of 400 hp. The Manta should serve as something of a halo car for Opel, sitting in a fast-growing market segment and giving the brands a performance edge. It is likely to be pitched as a rival to the Mustang Mach-E, Hyundai Ioniq 5, Kia EV6 and Volkswagen ID 4. +++
+++ TESLA is now firmly established as the world’s most valuable car maker, hovering, just after its record third-quarter profit announcement, around $850 billion, which is hundreds of billions more than Toyota or Volkswagen. Its results (241.300 cars delivered, up 72 % on last year), $1.6 billion net profit (389 % up year on year) did little for its share price, but, notably, it barely moved; investors seem satisfied that the growth path justifies the valuation, which has grown more than 18 % over this most difficult of years. There’s more to come. The reaction to the Model Y in Europe in recent weeks talks to both the impending sales growth and the longerterm potential of its brand appeal; for specialists and wider media alike, Tesla is a box office, and that draw will only accelerate as a new generation of enthusiasts can afford the cars. The new factory in Shanghai is hitting its stride and supplying markets worldwide, and 2 more are set to open, in Berlin and Texas. More investment is rumoured, for facilities in Japan, Korea and India. Scale brings advantages, too. Average sales prices fell 6 % in the past quarter, in part because Tesla is set on using efficiencies to make its entry-level vehicles more accessible. Where you might have expected it tohold its nerve and sit tight at the high-ticket end of the market, Tesla in fact looks happy to edge further into the mainstream. Talismanic boss Elon Musk has hinted at the development of a $25,000 car. His version of facts can sometimes be open to interpretation, but that does hint at an ambition to take on all comers, althoughit’s possible it’s an attempt to distract as the likes of VW and Ford get serious about EVs. For a traditional car maker to have that much brand stretch would be fanciful, but Tesla is capable of rewriting the rules. For now, little is off limits: there’s the new, albeit indefinitely delayed, Cybertruck, an all-new Roadster and the Semi truck on the product plan. Tesla’s foray into Bitcoin looks risky, and income from selling regulatory credits to polluting rivals is dropping off, but it hopes to license its software to other car makers, especially around its controversially (manyargue dangerously) named ‘full self-driving package’. Having gained its leadership position, it won’t be losing it for a lack of ambition. The process of holding Tesla and Musk to account is important given the scale of the hype. But those who doubted Tesla’s long-termcapability must continue to re-evaluate where we believed lines existed and how far they can be pushed.
+++ The VOLKSWAGEN GROUP has lowered its sales expectations and delivery outlooks because of the impact the global semiconductor crisis has had on its third-quarter profits. The group recorded an operating profit of €2.8 billion in the 3 months to October 2021, representing a 12 % drop compared with last year, while profit margins dropped from 5. 4% to 4.9 %. “Following a record result in the first half of the year, the semiconductor bottlenecks in the third quarter made it abundantly clear to us that we’re not yet resilient enough to fluctuations in capacity utilisation”, said Volkswagen Group chief financial officer Arno Antlitz. “This clearly shows that we must continue to work resolutely on improving our cost structures and productivity in all areas. In order to be able to implement our New Auto strategy as planned and finance our transformation towards e-mobility and digitalisation on our own, we need to make decisive improvements”. The German company’s most recent results showed a 24.4% drop in deliveries, with its four largest brands, Volkswagen, Seat, Audi and Skoda each posting operating losses between July and September. “The results of the third quarter show once again that we must now systematically drive forward the improvement in productivity in the volume sector”, said Volkswagen Group CEO Herbert Diess. “We’re determined to maintain our strong position against established and new competitors and to vigorously implement the transformation toward climate-neutral, digital mobility with our New Auto strategy”. The Volkswagen Group expects further challenges to arise from the post-pandemic economic situation, the strategies of rival firms, unstable supply chains and more stringent emissions requirements. It’s now expecting deliveries to customers to be in line with figures from 2020, taking into account supply shortages and assuming the Covid-19 pandemic is contained. Despite the supply issues and operating losses, the Volkswagen Group’s electric vehicle (EV) sales continued to grow. It delivered 122.100 EVs last quarter, a rise of 109% compared with last year. EV deliveries to customers totaled 293,100, a rise of 138%, while hybrid deliveries rose by 133% to 246,000. The Volkswagen Group still anticipates a rise in sales revenue over 2020, with a predicted sales return of between 6.0% and 7.5%. +++