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Inside this issue
Toyota, Nissan Widen Global Air-Bag Recall by 6.5 Million Cars
Renault Ghosn Defends Global Auto Partnerships
Piech Avoids Family Showdown Over VW
Outgoing CEO of BMW Warns that China is 'Losing Momentum'
Dodge Resurrecting Fastest Street-Legal Viper
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Top Stories
Toyota, Nissan Widen Global Air-Bag Recall by 6.5 Million Cars

The safety crisis plaguing the global automotive industry deepened as Japan’s three biggest carmakers said they would recall at least 6.5 million more cars because of problems with faulty air bags that send shrapnel into passengers. Toyota Motor Corp. will recall about 5 million more cars involving 35 models manufactured from March 2003 to November 2007, after finding air-bag inflators in Japan that could be susceptible to abnormal deployment in a crash, according to an e-mail from the company. Nissan Motor Co. will call back 1.56 million vehicles, and begin notifying customers in June, said Dion Corbett, a company spokesman. The latest safety campaign will add to the more than 17 million vehicles that 10 automakers have recalled since 2008 for faulty air bags made by Takata Corp.
Source: Bloomberg

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Renault Ghosn Defends Global Auto Partnerships

CEO cites Renault-Nissan Alliance as one successful example

Carlos Ghosn, chief executive of the Renault-Nissan Alliance, offered a spirited defense of global auto-making partnerships like the French-Japanese tie-up, which has been roiled by the French government’s move last month to increase its influence at Renault. “We are at least a 16-year-old living example of a successful alliance where two companies which are autonomous and independent are working together, developing synergies,” Mr. Ghosn said Wednesday. Mr. Ghosn, who also serves as chief executive of Renault SA and Nissan Motor Co., spoke at a press briefing where the Japanese car maker reported a modest increase in net profit during the latest quarter. The company was bolstered by strong sales in North America but was held back by weakness in Japan, Brazil and Russia.
Source: The Wall Street Journal

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Piech Avoids Family Showdown Over VW

Ferdinand Piech avoided a showdown with his cousin Wolfgang Porsche by not attending the annual shareholders meeting of his family's holding company that controls a majority stake in Volkswagen Group. Piech quit as VW chairman last month after losing a power struggle with CEO Martin Winterkorn, who was backed by Wolfgang Porsche and other key VW power players. Piech cancelled his attendance of Porsche SE's shareholder meeting [Wednesday], a spokesman for the holding company said. Piech's board seat at Porsche SE is the only office he did not resign when he quit as VW chairman on April 25. Piech, 78, owns about 13 percent of Porsche SE, which controls the Porsche-Piech clan's 50.7 percent holding of VW common stock. The Porsche and Piech families pledged to maintain their engagement in VW.
Source: Automotive News
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Outgoing CEO of BMW Warns that China is 'Losing Momentum'

The departing CEO of automaker BMW has cautioned that China's economy is "losing momentum." Norbert Reithofer said that the company's planning was taking into account a "normalization" of a market that has delivered fast-growing sales and rich profits. Munich-based BMW AG sold 455, 979 vehicles in China last year, or about 21 percent of sales. Economists say China's strong growth appears to be easing; the government there has undertaken monetary stimulus measures to bolster the economy. China was the world's biggest car market last year, with 18.4 million vehicles sold, up 13 percent.
Source: Associated Press

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Dodge Resurrecting Fastest Street-Legal Viper

Dodge is resurrecting the Viper ACR, its "fastest street-legal Viper track car ever," for the 2016 model year. The Fiat Chrysler Automobiles mainstream-performance brand unveiled the supercar Friday at its Conner Avenue Assembly in Detroit, where the car is built. Dodge CEO and President Tim Kuniskis did not release exact performance specifications but said the car is taking everything Viper owners love "to the next level" — from all-new 19-inch tires specifically for the car to enhanced aerodynamics and suspension. "We have to reinforce this truly is a halo," Kuniskis said following comments about the brand's 707-horsepower Hellcat Challenger and Charger models taking attention away from the Viper supercar. "You're buying a legend."
Source: The Detroit News
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Quotable

"You're buying a legend."

    -- Dodge CEO and President Tim Kuniskis, commenting on the resurrected Viper ACR, The Detroit News, May 8

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