Top News:
- Musk Risks Missing the Mainstream If Model 3 Strays From $35000 – Bloomberg: Mahal, 46, drives a BMW and placed a reservation on the first day possible nearly 16 months ago. “This feels like next generation technology,” he said in an email. “It’s basically the same reaction I had to the iPhone.” Tesla’s share price has climbed …
- Wells Fargo to refund $80 million to customers hit by car loan insurance – Reuters: Wells Fargo and Co said it would reimburse about $80 million to 570,000 customers who may have been charged wrongly due to issues related to auto collateral protection insurance (CPI) policies.
- Big US Auto Discounts Are Hurting Asian Carmakers’ Profits – Bloomberg: The company spent $4,086 on incentives for each vehicle last month, the highest level among Asian auto brands, according to Autodata Corp.
- Diesel Ban Looms Over German Home of Porsche and Mercedes-Benz – Bloomberg: On Thursday, German Transport Minister Alexander Dobrindt took a hard-line stance against Porsche, accusing the sports-car maker of using a defeat…
- Renault pricing weakness overshadows record first half – Reuters: Weaker Renault pricing kept a lid on core profitability in the first half, the French carmaker said, rattling investors and sending its shares sharply lower.
- Seat reveals nine potential names for its new seven-seat SUV – Autocar: This is an image of Seat’s forthcoming seven-seat SUV Nine names have now been chosen from a list of 10,130; the three finalists will be revealed in September
- Car Prices Are Still Falling But the Sky Isn’t as Lender Profits Rise – Bloomberg: This is not the tune auto lenders were singing at the beginning of the year, when a surge of vehicles with expiring leases was sinking used-car prices…
- Wells Fargo Broadsided Anew With an Auto Insurance Sales Scandal – Bloomberg: An internal review of the bank’s auto lending found more than 500,000 clients may have unwittingly paid for protection against vehicle loss or damage…
- Renault-Nissan overtakes Volkswagen Group on 2017 first-half global deliveries – Autocar:
- Tesla Model 3 Arrives as Elon Musk Tries to Manage Expectations – WSJ: TeslaInc. Chief Executive Elon Musk plans Friday evening to showcase the first deliveries of the sedan he hopes will help transform the Silicon Valley…
- New 200mph Vanda Dendrobium electric supercar video released – Autocar: Vanda hopes to be Singapore’s first car maker with its British-built electric supercar, created in conjunction with Williams Advanced Engineering
- Borgward to show sports car concept at Frankfurt motor show – Autocar: Reborn German brand looks to be lining up a performance car concept for September’s event
- Europe Stocks Set for Weekly Loss as Renault Drags on Carmakers – Bloomberg: Renault SA fell 6.2 percent, pulling down carmakers, after its profit missed estimates and the company said price pressures are rising in some markets.
- Renault-Nissan alliance becomes world’s largest carmaker – FT: Renault reported record results in the first half of the year on the back of a recovery in Russia and rising sales in Europe, helping the Renault-Nissan…
- German court paves way for diesel ban in Stuttgart – Reuters: A German court backed a push to ban diesel cars from the city of Stuttgart, dealing a blow to carmakers Daimler …
- Unions Urge Slow-Down as Self-Driving Car Laws Pick Up Speed – Bloomberg: Auto industry officials have said it will take decades for fully self-driving vehicles to see widespread use, yet many companies already have…
- Tesla Model 3: first customer delivery to take place tonight – Autocar: Elon Musk shared pic of first Tesla Model 3 off the production line on Twitter Elon Musk will hand over the first Model 3 to its new owner during an event at 4:45am BST on Saturday morning
- Nissan-Renault at the top in first-half global vehicle sales – Washington Post: TOKYO – The alliance of Japanese automaker Nissan Motor Co. and Renault SA of France says it led in global vehicle sales for the first half of this…
- US Expands Probe Into Ford Explorers Over Carbon Monoxide Concerns – Fortune: The U.S. National Highway Traffic Safety Administration is upgrading and expanding a probe into 1.33 million Ford (f) Explorer SUVs over reports of…
- Renault First-Half Profit Climbs 18% on Strength in Europe – Bloomberg: The French automaker sold 1.88 million vehicles in the first half. That includes AvtoVAZ’s sales, which it consolidated in January. The group expects…
- Audi Braces for Fourth-Quarter Earnings Hit Over Model Ramp-Up Costs – New York Times: BERLIN – Audi is bracing for earnings to take a hit in the fourth quarter … First-half operating profit at Volkswagen’s luxury brand edged up 0.5 percent…
- Renault profits climb as alliance with Nissan becomes largest carmaker in world – FT: Renault reported record profit and profitability in the first half of the year, with recovery in Russia helping the Renault-Nissan Alliance overtake key…
- Oil Prices May Stay Low ‘Forever’ – Bloomberg: Imagine a Detroit auto executive driving a Japanese car. That’s kind of what it felt like when the chief executive officer of one of the world’s biggest oil…
- Consumers, businesses likely spurred U.S. economic pickup in second quarter – Reuters: The U.S. economy likely accelerated in the second quarter as consumers ramped up spending and businesses invested more on equipment, which would confirm that the sluggish performance early in the year was temporary.
- As Tesla Model 3 Hits the Streets, Where Are the Other Electric Vehicles? – Bloomberg: Volvo said it will begin in two years phasing out cars that run just on fossil fuels. France said it plans to eliminate gasoline- and diesel-powered vehicles entirely by 2040, and the U.K. followed suit. The Los Angeles County Metropolitan …
- Toyota’s global car sales hit record with 2.7% rise – Nikkei: Toyota Motor said Friday that its global car sales between January and June grew 2.7% on the year to hit a new record.
- The electric car revolution will leave many behind – FT: This has been another big week for electric cars, which means it has been a frantic week for people who loathe the things. First they had to deal with…
- U.S. upgrades probe into 1.33 mln Ford Explorers over exhaust odors – Reuters: The U.S. National Highway Traffic Safety Administration is upgrading and expanding a probe into 1.33 million Ford Explorer SUVs over reports of exhaust odors in vehicle compartments and exposure to carbon monoxide that may be linked to crashes and injuries.
- Uber’s Next CEO? Meg Whitman Says It Won’t Be Her – New York Times: Meg Whitman, chief executive of Hewlett Packard Enterprise, on Thursday responded to rumors that she would lead Uber by saying, “I am not going anywhere.” Credit Drew Angerer/Getty Images. Meg Whitman, chief executive of Hewlett Packard Enterprise,…
- Meg Whitman rules out becoming Uber CEO, reaffirms commitment to HPE – CNBC: Whitman said she remained fully committed to HPE and planned to remain the company’s CEO.
- Japan’s Denso shares jump on strong results, outlook – Reuters: Shares in Japanese auto parts maker Denso Corp jumped 4 percent on Friday after the company announced stronger-than-expected quarterly results and raised its full-year outlook.
- Porsche takes pole position in Formula E – FT: Porsche will abandon the top tier of the prestigious 24-hour Le Mans race to join Formula E, the electric car racing series, in the latest sign of the…
- Column: Third time’s a charm for UAW? – Detroitnews: There they go again! The United Auto Workers announced a third attempt to unionize a Nissan plant last week. Workers at the Canton, Mississippi,…
- BRIEF-Hewlett Packard Enterprise CEO Meg Whitman says she will not be Uber’s CEO -tweet – Reuters: * Hewlett Packard Enterprise CEO says “Uber’s CEO will not be Meg Whitman”, fully committed to HPE and plan to remain the company’s ceo- tweet
- BRIEF-BYD to pay FY 2016 annual div on Aug. 4 – Reuters: . 1 Min Read. July 28() – BYD Co Ltd : * Says it will pay FY 2016 dividend to shareholders of …
- Uber Approaches GE CEO Jeff Immelt About Top Role – WSJ: Uber Technologies is considering General Electric Chief Executive Jeff Immelt among a handful of candidates for its top position, according to a person familiar with the matter.
- Are the Lamborghini Aventador S’s Upgrades Enough to Challenge Rivals? – Forbes: The Aventador has never been shy. It has never been accused of lacking power or street cred, or for that matter, noise. This Lambo is as subtle as a…
- Strategic Investment Helps Cleantech Company Build Out Electric Vehicle Charging Networks – Forbes: The Electric Vehicle Outlook report for 2017 from News Energy … amount of private and public investment in EV charging infrastructure.
- Wells Fargo Forced Unwanted Auto Insurance on Borrowers – New York Times: . More than 800,000 people who took out car…
- California gives Volkswagen green light for clean vehicle infrastructure plan – Reuters: California regulators gave Volkswagen AG (VOWG_p.DE) the go-ahead on Thursday to start expanding clean …
- Austin considers pulling Ford Explorer police cruisers off the road – CBS News: The state capital of Texas is considering pulling its police department’s entire fleet of Ford Explorer SUVs off the road. More than 120 are already out of…
- Search the Pipeline – Automotive News: Spy photos of a two-door coupe expected to revive the Toyota Supra nameplate, as well as a BMW ragtop that is sharing the platform as part of a…
- Ford’s Mustang remains on top, thanks to global appeal – Yahoo: The Ford (NYSE:F) Mustang may be experiencing a sales headache at home, but overseas demand has put the iconic pony car on top of the world.
- SpaceX Is Now One of the World’s Most Valuable Privately Held Companies – New York Times: A SpaceX Falcon 9 rocket lifted off from Kennedy Space Center in Cape Canaveral, Fla., on July 5. Credit Craig Bailey/Florida Today, via Associated Press. SAN FRANCISCO – SpaceX, the rocket maker founded by billionaire Elon Musk, has raised up to…
- GM Cadillac chief outlines plan for fewer sedans, more electrics – Reuters: The head of General Motors Co’s Cadillac luxury division said on Thursday the brand will shrink its lineup of sedans and expand …
- Key Takeaways From Ford’s Second Quarter – Forbes: Ford announced its Q2 2017 results on July 26, and the company beat analysts’ expectations for both EPS (earnings per share) and revenues. Diluted…
- Rolls-Royce Unveils Its Grandest Car Yet, the Phantom VIII – Bloomberg: Unveiled to the public in London today, just days after the U.K. moved to ban combustion vehicles by 2040, the 2018 Rolls-Royce Phantom is only the…
- Promises Won’t Kill the Combustion Engine – Bloomberg: Granted, electric vehicles already have a lot of fans. People like the idea of reducing their carbon footprint, as well as electric cars’ fast acceleration…
- Ford’s Chariot aims to fill NYC transit gaps with ride-sharing shuttle service – CNBC: Ford is expanding its recently acquired crowdsourced shuttle service called Chariot into New York City. This is the fourth city the company is now…
- Germany Recalls Porsche Models It Says Have Defeat Devices – WSJ: Germany on Thursday ordered Porsche to recall and stop selling 22,000 diesel vehicles that the government says have illegal defeat devices.
- 277 pounds of pot found in railcars of new Fords shipped to Detroit – Freep: Ford employees on Wednesday found 277 pounds of marijuana in railroad cars used to ship new Ford vehicles from Mexico to metro Detroit,…
- Ford workers find 277 pounds of pot in Mexico shipment – Detroitnews: Woodhaven – U.S. Federal authorities have recovered a stash of drugs found in a shipment of Ford vehicles from Mexico for the second time this…
- Wells Fargo moves more auto staff to central hubs, eyes rebranding: memo – Reuters: Wells Fargo & Co (WFC.N) is making more structural and management changes to its auto lending unit, according to an internal memo …
- Maserati makes move toward electric vehicles – Freep: The move toward electrification comes as other automakers such as Volvo have announced their own electric initiatives. Volvo, which is owned by…
- Shell CEO Says His Next Car Will Be Electric – Bloomberg: … tells ‘s Manus Cranny that the next car he purchases will be electric. … Van Beurden will switch from a diesel car to a plug-in Mercedes-Benz … “We need to be at a much higher degree of electric vehicle penetration — or…
- Germany, steering clear of diesel bans, plans city transport fund – Reuters: Germany’s transport minister announced plans on … and diesel cars from 2040, Alexander Dobrindt said the fund would provide …
- Why This Big Oil CEO Is Buying an Electric Car – Fortune: Van Beurden tells he plans to swap out his diesel car for an electric vehicle later this year. Van Beurden plans to start driving a Mercedes…
- KKR to set up auto parts JV with South Korea’s LS Group, buy materials business – Reuters: U.S. buyout firm KKR & Co (KKR.N) has agreed to set up an auto parts joint venture with South Korea’s LS Group and buy LS’ …
- Asleep at the wheel? Germany frets about economic car crash – Reuters: Daimler Chief Executive Dieter Zetsche beamed as he posed for cameras in a Mercedes-Benz electric car …
- VW Sees Intensifying Headwind Amid Recovery From Diesel Woes – Bloomberg: The U.K. added urgency to the shift Wednesday by moving to ban sales of diesel and gasoline-fueled vehicles by 2040, joining a similar initiative by…
- Shell sees oil demand peaking by late 2020s as electric car sales grow – Reuters: … to ban diesel and gasoline vehicles by 2040, following a similar move by France. … In an interview with TV van Beurden said he would opt for an …
- Here Come the Tesla Model 3s … and a Few Surprises – Bloomberg: Elon Musk is about to hand over the first keys for the most-anticipated car of the … The only electric cars on the road capable of 300 miles are the most…
- Osram seeks further acquisitions after high-tech drives up profit – Reuters: German lighting group Osram reported stronger sales and core profit for its third quarter, driven by automotive and …
- VW raises sales goal as recovery gathers pace – Reuters: Volkswagen raised its 2017 sales forecast on Thursday after … the average forecast of 4.49 billion euros in a poll of analysts. … But auto shares will remain under pressure over the cartel allegations,” said …
- VW Profit Jumps as Core Brand Pushes Cost Cuts, Models – New York Times: … Thursday, beating a 4.49-billion-euro consensus forecast in a poll of analysts. … (Reporting by Andreas Cremer; Editing by Maria Sheahan).
- The World Loves the Ford Mustang (Even if the US Doesn’t) – Bloomberg: Guo Xin might be working on a Mustang in his car repair shop in Beijing, … ”Cars, historically, have been so closely tied to status and class, but the…
- Why Uber’s Losing to the Locals in Asia – Bloomberg: Indeed, within Southeast Asia, and especially Malaysia and Singapore, it’s largely taken for granted that Grab has more cars available (something to…
- Some Chinese electric car makers mull alliance to save money, time – Reuters: A handful of China’s many electric vehicle (EV) start-ups are considering setting up an alliance to pool resources, develop joint …
- GM and Ford Grow Ever-More Dependent on Declining Home Market – Bloomberg: Collapsing demand for sedans is overwhelming strong deliveries of sport utility vehicles and pickups, helping explain Ford’s drop in pretax profit from…
- ‘It’s the future of motor travel’: readers on driving electric vehicles – Guardian: With the inevitable demise of diesel and petrol vehicles we asked electric car drivers to tell us what it’s like to drive one, and why they are the future.
- Carmakers flag up obstacles to adoption of electric cars – FT: That electric cars are coming down the road is hardly news to the automobile industry. “We see electric cars as the third inevitability after death and…
- Volkswagen says cooperation with rivals is common industry practice – Reuters: Volkswagen (VOWG_p.DE) said cooperation among carmakers on technical issues is a common industry practice but declined …