TOP NEWS
* The United Auto Workers said it made "significant progress" in negotiations with Ford Motor Co. as the union is still working on a bargaining deal with General Motors Co. amid an ongoing strike. Union contracts for GM, Ford and Fiat Chrysler Automobiles NV expired Sept. 14, but the UAW extended its contracts with Ford and Fiat Chrysler after choosing GM as the template for negotiations.
* Japan's big three automakers saw sales in South Korea drop a record 59.8% in September as Tokyo-Seoul relations continue to deteriorate, The Korea Times reported, citing data from the Korea Automobile Importers & Distributors Association. Nissan Motor Co. Ltd. posted the largest drop at 46 vehicles sold, down 87.2%, while Honda Motor Co. Ltd. saw sales plummet 82.2% to 166 vehicles. Toyota Motor Corp. reported drop of 61.9% to 374 vehicles. The Japanese carmakers reported the dismal figures despite Korea's automobile imports surging 17% during the month, the report added.
ELECTRIC VEHICLES
* Volkswagen AG is "having conversations" with other carmakers about sharing technology from its Porsche and Audi electric vehicles, Bloomberg News reported, citing Audi executive Ulrich Widmann. The carmaker said sharing its PPE technology, which serves as the basis for Porsche and Audi's electric cars, could lower costs and scale up electrification across the industry.
* Peugeot SA's namesake brand said a quarter of its 208 model preorders were for its battery-electric version, Automotive News reported, citing the brand's CEO, Jean-Philippe Imparato. The executive said that based on the preorders, Peugeot can increase the e-208 production to 20%, from the planned 10%, of the new 208's production of about 300,000 units a year.
* Chinese electric-vehicle maker BYD Co. Ltd. said it delivered 50 T3 electric vans to Nassau, Bahamas.
* Uber Technologies Inc. said all riders can now access its helicopter service, Uber Copter, to book rides from Manhattan to the John F. Kennedy International Airport. The ride-hailing app said the pilot will serve as a basis for an electrified Uber Air network. The flight will cost between $200 and $225 per person and include ground transportation on either side of the trip.
* Lyft Inc. launched a rewards program for all drivers called Lyft Rewards. The program, which awards points for every dollar earned, lets drivers use points to redeem cash bonuses, credits to Lyft rides, cash-back on gas and discounts on tax services and roadside assistance.
POLICY, REGULATIONS AND SAFETY
* The Australian Competition and Consumer Commission classified about 20,000 vehicles equipped with faulty Takata Corp. airbags as "critical," urging the owners to stop driving the cars as they risk death and serious injury. The watchdog said that about 425,971 vehicles in the current recall are still equipped with the faulty airbags, which could explode or fail to deploy.
* The Prague City Court dismissed a ruling that ordered Volkswagen to pay 533 million Czech koruny to members of a class-action lawsuit that sued for damages from its diesel emissions scandal, Reuters reported. The city court sent the case back to the lower court for reconsideration, the report added.
* Canadian auto supplier Linamar said it is losing up to C$1 million in earnings each day the UAW's strike against General Motors continues, but it could adapt by taking over other struggling suppliers.
* Maker of auto parts and systems Faurecia SE opened a technology platform in Tel Aviv, Israel, where it will develop software solutions for cybersecurity in vehicles. The French company said it employs 60 cybersecurity experts at the site.
AUTOMOTIVE RETAIL
* The U.K. saw new car sales grow a modest 1.3% year over year to 343,255 vehicles, despite an extraordinary decline of 20.5% in September 2018 when new emissions regulations called WLTP were introduced, according to data from The Society of Motor Manufacturers and Traders, or SMMT. "We expected to see a more significant increase in September, similar to those seen in France, Germany, Italy and Spain, given the negative effect WLTP had on all European markets last year. Instead, consumer confidence is being undermined by political and economic uncertainty," SMMT CEO Mike Hawes said.
COMMERCIAL VEHICLES
* Soft-drink giant PepsiCo said it will replace its diesel-powered freight equipment with 15 Tesla Semi electric trucks, Electrek reported. PepsiCo said the trucks will be used at its California site, Frito-Lay Modesto.
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The day ahead
Early morning futures indicators pointed to a lower opening for the U.S. market.
In Asia, the Hang Seng fell 1.11% to 25,821.03, while the Nikkei 225 rose 0.32% to 21,410.20.
In Europe, around midday, the FTSE 100 was up 0.35% to 7,102.21, and the Euronext 100 increased 0.27% to 1,057.94.
On the macro front
The employment situation report, the international trade report and the Baker-Hughes Rig Count report are due out today.
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