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VW was 2018's top-selling automaker — but

TOKYO — Volkswagen Group has held on to its position as the world's top-selling automaker for the fifth year in a row, although the German group was edged out again by the Renault-Nissan-Mitsubishi alliance in the light-duty vehicles segment. Renault SA, Nissan Motor Co Ltd and Mitsubishi Motors Corp together sold 10.76 million passenger cars and light commercial vehicles in 2018, according to Reuters' calculations after new data released on Wednesday. The group doesn't sell heavy trucks. Nissan said on Wednesday it sold 5.65 million vehicles last year, down 2.8 percent on the year. Mitsubishi reported an 18 percent rise in sales to 1.22 million units while Renault sold 3.88 million units, up 3.2 percent on the year. Volkswagen's deliveries rose 0.9 percent to a record 10.83 million last year, including its MAN and Scania heavy trucks, the German company said earlier this month. Excluding heavy trucks, it sold 10.6 million units. Toyota Motor Corp retained its third spot, announcing on Wednesday that it had sold 10.59 million vehicles last year including its Toyota and Lexus brands, along with minicars made by subsidiary Daihatsu and light and heavy trucks produced by its truck division Hino Motors Ltd. Excluding Hino trucks, Toyota sold 10.39 million units last year. The automaker has said it expects to sell a total of 10.76 million vehicles in 2019. Many automakers are trying to boost sales volumes to achieve economies of scale and reduce costs amid soaring investments needed to develop next-generation technologies, including self-driving cars and electric vehicles. This has been a focus of the Renault-Nissan-Mitsubishi Motors group, which is looking to share more vehicle parts and consolidate production platforms to trim R&D and manufacturing costs, while raising profitability. The alliance, which brought Mitsubishi Motors into its fold in 2016, is currently in crisis with its former Chairman Carlos Ghosn arrested and indicted on charges of misconduct. Nissan has also been indicted, and Renault appointed new top management last week. Related Video: Earnings/Financials Mitsubishi Nissan Toyota Volkswagen

Porsche again staring down another $1.8B in hedge fund lawsuits

The sequence of events from 2007 that began with Porsche's secret attempt to take over Volkswagen, and instead lead to Porsche being taken over by VW, continues to instigate lawsuits against the Stuttgart sports car manufacturer. A group of hedge funds that suffered over $1 billion in losses sued the car company in New York. Porsche had publicly stated it wasn't trying to buy VW, the hedge funds in question were shorting VW stock, and when Porsche's actual intentions were revealed, the stock shot up and the hedge funds took a beating.
The case was thrown out over the issue of jurisdiction, then appealed, only to see another suit filed on top of that. After that, most of the hedge funds withdrew their claims in New York and Porsche offered a 90-day window to refile in Germany where it is already fighting a number of other suits over the same issue. The hedge funds accepted the offer, refiling in Stuttgart for $1.8 billion in damages. According to Bloomberg, Porsche hasn't commented on the refiling, but as the same plaintiffs are involved, it's safe to assume that the carmaker still feels the case is "unsubstantiated and without merit." It has fared alright so far even in German courts, with two lesser cases against it thrown out last year.

New GMC Canyon, Ford Bronco Heritage Editions and Nissan Z | Autoblog Podcast #743

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Producer Christopher McGraw. They kick off the podcast with news. Ford launched retro-themed Heritage Editions for its 2023 Bronco and Bronco Sport lineup. GMC unveiled the 2023 Canyon, complete with a ZR2-based AT4X trim. Some rare, vintage American cars were stolen and destroyed in England. Chris loves sleeping in cars, and tells us how to turn a car into a camper for less than $100. Next, our hosts talk about what they've been driving from the Autoblog test fleet, including the new Nissan Z (which Chris slept in), Mercedes EQS 450 and VW Atlas. Finally, they reference a recent Autoblog Reddit AMA for a unique "Spend My Money" format. They help one participant pick a sub-$40,000 sports car, and another choose a JDM sports car to import to the U.S. when they move back from Japan. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #743 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Heritage Editions join 2023 Bronco, Bronco Sport lineups 2023 GMC Canyon revealed with new ZR2-based AT4X trim Thieves steal and demolish two classic American cars in the U.K. Turn your car into a comfortable camper for less than $100 Cars we're driving 2023 Nissan Z ... Can you catch some z's in it? 2022 Mercedes-Benz EQS 450+ 2022 Volkswagen Atlas Spend My Money: Reddit edition Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.