Top News:
- BRIEF-Fiat Chrysler CEO says will have no role in running FCA after mandate ends in 2019 – Reuters: Fiat Chrysler Automobiles Chief Executive Sergio Marchionne tells analysts on a conference call:
- 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 …
- FCA Q2 operating profit rises 15% – Automotive News: Fiat Chrysler’s second-quarter operating profit rose 15 percent to $2.19 billion, despite roughly flat shipments and revenue.
- Fiat Chrysler Weathers US Sales Slowdown as Maserati Adds SUV – Bloomberg: First-half demand in the U.S. car market fell 2.2 percent, with Fiat Chrysler group sales there dropping 6.9 percent. That contrasts with the company’s…
- Malaysia legalises e-hailing services as Grab, Uber compete – Reuters: Malaysia’s parliament on Thursday passed two bills that will legalise e-hailing services, as ride-hailing firms Grab and Uber Technologies Inc race to expand in the region.
- VW Sees Intensifying Headwind Amid Recovery From Diesel Woes – Bloomberg: While the German automaker slightly upgraded its full-year revenue … Growth in China is slowing and the robust European car market might cool…
- Next Audi Q5 e-tron quattro spotted ahead of launch in late 2018 – Autocar: Audi’s hybrid Q5 SUV model will be powered by a 2.0-litre petrol engine and an electric motor
- Porsche to quit WEC after 2017 – Autocar: The World Endurance Championship is to lose another major competitor as Porsche is expected to announce its withdrawal imminently
- Toyota’s Cure for Electric-Vehicle Range Anxiety: A Better Battery – WSJ: TOKYO-Toyota Motor Corp. believes it has mastered the technology and production process for a new lithium-ion battery that could slash charging…
- FCA earns $1.4B on 2Q global profits – Detroitnews: Fiat Chrysler profit margins improve in all regions including North America, which has had slower sales
- Here Come the Tesla Model 3s… and a Few Surprises – Bloomberg: Sixteen months ago, Elon Musk shook the auto industry by unveiling the Tesla Model 3, a $35,000 electric sedan designed to take on the best-selling luxury cars. Customers stood in lines the world over to plunk down hundreds of thousands of $1,000…
- KKR to acquire auto assets from S. Korea’s LS Group for $943 mln – Reuters: U.S. buyout firm KKR & Co said it has agreed to buy auto parts and materials businesses from South Korea’s LS Group for 1.05 trillion won ($943 million) – a deal that follows its purchase of Nissan Motor supplier Calsonic Kansei last year.
- Nissan posts 13% drop in Q1 profit on higher expenses, incentives – Automotive News: … China and the U.S. Nissan, along with Infiniti and Mitsubishi, reported that U.S. unit sales grew 2.8 percent to 874,264 vehicles during the first half of…
- Hyundai Motor profit slumps, warns China, U.S. sales malaise to persist – Reuters: * Q2 net profit 817 bln won vs consensus f’cast 1.35 trln won
- Fiat Chrysler Q2 profits rise 15 pct but debt disappoints – Reuters: Fiat Chrysler Automobiles (FCA) on Thursday reported a slightly better-than-expected second-quarter adjusted operating profit, helped by improvements in Europe and Latin America and continued strong performance in its key market in North America.
- Shell sees oil demand peaking by late 2020s as electric car sales grow – Reuters: The world’s oil consumption could peak as early as the end of the next decade as electric vehicles become more popular, Royal …
- Nissan operating profit falls nearly 13% in first quarter – Nikkei: … Joji Tagawa, corporate vice president of Nissan, speaks during a press conference in Tokyo…
- The Oil Major Boss Who Says His Next Car Will Be Electric – Bloomberg: When the boss of Europe’s biggest listed oil company says his next car will be electric, it says a lot about the future of fossil fuels. Royal Dutch Shell Plc…
- Volkswagen Group profits continue to rise despite Dieselgate scandal – Autocar: … Within the group, the biggest earner was Audi, which recorded €2.7bn (£2.4bn) … Skoda and Seat represented the biggest improvers within the group, with the … Bentley and Porsche also improved, with the British luxury car maker…
- Maruti Suzuki profit disappoints on costs, tax hit – Reuters: Maruti Suzuki, India’s top-selling car maker, posted a quarterly profit that missed estimates even though sales grew steadily, as a rise in commodity prices and the impact of a new nationwide sales tax ate into earnings.
- VW to offer to refit 4 million diesel cars: CEO – Reuters: Volkswagen plans to offer to refit 4 million diesel cars at a meeting with German government officials to discuss ways to avoid diesel bans in major cities, Chief Executive Matthias Mueller said on Thursday.
- Diesel car tax hike to fund electric 2040 petrol and diesel sales ban – Autocar: The Government’s ban on the sale of new petrol and diesel cars will be funded by a hike in taxes on diesels or a shuffling of existing funds
- Diesel car tax hike to fund government air quality plans – Autocar: The Government’s ban on the sale of new petrol and diesel cars is the culmination of ambitious air quality plans, which will be funded by a hike in taxes on diesels or a shuffling of existing funds
- Sales incentives in slowing US auto market dent Nissan’s profits – Reuters: Nissan Motor Co (7201.T) said higher incentives to expand sales in the slowing U.S. auto market was increasingly dragging …
- Australia to build superhighway for electric vehicles beside Great Barrier Reef – Reuters: Australia is building a superhighway offering free charging stations in a bid to boost use of electric vehicles, the northeastern …
- VW raises sales goal as recovery gathers pace – Reuters: Volkswagen raised its 2017 sales forecast on Thursday after cost cutting and higher margin new models at its namesake brand helped it to beat quarterly profit expectations.
- Nissan sees benefit from Europe’s shift away from petrol, diesel – Reuters: Nissan Motor Co (7201.T) on Thursday said the intention among European governments to shift from diesel and petrol cars to …
- Queensland to build one of the world’s longest electric vehicle highways – Guardian: Queensland motorists will be able to drive electric vehicles from … However it is dwarfed by the Trans-Canada EV highway, which, at about 8,000km,…
- Nissan gets boost from Japanese market – FT: Improving sales in its home market of Japan helped Nissan grow revenue in the first quarter of its fiscal year, but profits took a hit owing to rising raw…
- BRIEF-Maruti Suzuki India says Q1 costs were impacted by higher commodity prices, expenses?? – Reuters: BRIEF-Maruti Suzuki India says Q1 costs were impacted by higher … of Directors of Maruti Suzuki India Limited today approved the financial results for …
- BAIC Motor Capacity Increase by 150000 New Energy Vehicles – Automotive News: Shanghai 27th July 2017 Gasgoo-The second phase of BAIC Motor high-end manufacturing base has been officially completed. BAIC Group will…
- Uber and Lyft grab more business from taxis and rental cars – CNBC: New data shows business travelers are increasingly turning to Uber and Lyft while taking fewer cabs and renting fewer cars when out on the road.
- Lloyds Shrugs Off Consumer Credit Concerns as Quality Improves – Bloomberg: Years of low defaults and falling unemployment has led to a surge in unsecured credit to individuals, particularly car loans and credit cards.
- Europe seeks to set global trade rules after Trump steps back – Reuters: If Donald Trump’s ditching of a U.S.-led trade … to tailor-make products to meet varying local rules, be they for cars or cheese.
- Hyundai Engineering Q2 net jumps 14 pct – Yonhap: Hyundai Engineering & Construction Co. on Thursday posted a 14 percent on-year jump in its second-quarter net profit as…
- 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, while in England, a happy bride and groom drive off in a Mustang GT…
- Ford Trucks celebrate 100 years as America’s workhorse icon – Freep: The Model TT wasn’t the first pickup, but Ford threw itself into truck making with … The F-series pickup was born in 1948, arriving at a vital time as Ford…
- Classic-car parts provider traces roots to Ferndale – Detroitnews: Classic Industries makes parts for collectible Detroit cars
- Audi to debut Traffic Jam Pilot system – Detroitnews: The world’s first fully autonomous cars are years away. But the steppingstones to that point are being tackled fast by the world’s automakers. Given the…
- LeEco’s Coolpad says lawsuit filed against unit over loan due next month – Reuters: Chinese smartphone maker Coolpad Group, part of the cash-strapped LeEco technology conglomerate, said on Thursday a bank has sued a subsidiary, demanding early repayment of an 80 million yuan ($11.9 million) loan due Aug. 15.
- BAIC Motor: Bernstein Forecasts Massive H1 Miss, Cuts Price Target – Barrons: Bernstein has slashed its price target on BAIC Motor (1958.HK) as earnings from its Daimler and Hyundai joint ventures foreshadow a massive first…
- Hyundai to Bring New SUV to US After Splurging on Discounts – Bloomberg: Incentives per car rose 42 percent to $3,259 in June. Those levels are among the highest offered by the company since at least the global financial…
- Some Chinese electric car makers mull alliance to save money, time – Reuters: … and four others – CHJ Automotive, Hongxing Automobile Manufacturing Co, …
- Why Uber’s Losing to the Locals in Asia – Bloomberg: like other car services in Malaysia — suffered from perceptions that it was unsafe, especially for female riders. Having grown up in…
- For GM and Ford, home is where the profits are – Automotive News: For General Motors Co. and Ford Motor Co., home is where the … It’s a similar story at GM, which reported all but about $200 million of…
- Watch Elon Musk Send a Tesla Model S Underground – Fortune: The business, known as The Boring Company, was inspired by the … The car elevator is just the latest mini-step towards Musk’s vision of underground…
- UK car industry says clarity needed now as Brexit weighs – Reuters: Britain’s car-makers and traders are starting to feel the strains of Brexit, and output this year is likely fall short of the industry’s …
- GM and Ford Grow Ever-More Dependent on Declining Home Market – Bloomberg: For General Motors Co. and Ford Motor Co., home is where the profits are. That’s a source of heartburn as U.S. auto sales stall. Ford Chief Financial…
- Judge in Uber-Waymo suit says Google co-founder Sergey Brin ‘better show up’ – CNBC: Brin is currently the president of Alphabet, the holding company that includes both Google and Waymo, the self-driving car unit that was spun out of…
- The Latest: Fired Fiat labor executive landed new job at GM – Washington Post: A former Fiat Chrysler executive accused of paying off a senior union official, his wife and others landed a job at General Motors after he was fired.
- Records for Peugeot and Daimler bolster Europe’s carmakers – FT: France’s Peugeot and Germany’s Daimler posted record results on Wednesday, signalling that Europe’s strengthening economic recovery is boosting…
- Carmakers flag up obstacles to adoption of electric cars – FT: Erik Fairbairn, chief executive of electric charging company PodPoint, … said the car’s batteries would be made in Germany and shipped to the UK.
- Electric cars: everything you need to know – Guardian: The first generation of electric-car buyers have been people with homes … One energy company, Eaton, is already selling used electric batteries for…
- GM Financial plans leasing cutback – Automotive News: The automaker is selling its Opel and Vauxhall operations in Europe, along with the associated auto finance business, to France’s PSA Group.
- Daimler considers legal split in strategic overhaul – Reuters: * Cartel allegations loom, supervisory board to meet (Recasts to focus on strategic review, adds CFO, CEO comment)
- Lower tax rate fuels Ford beat, seen boosting 2017 net profit – Reuters: Ford Motor Co on Wednesday reported a better-than-expected quarterly net profit due to a lower tax rate and increased U.S. sales of more-profitable pickup trucks, but forecast a slightly lower 2017 pre-tax profit, sending its shares down 2.3 percent.
- Hybrids exempt from Britain’s petrol and diesel car ban – Autocar: Government unveils £2.7bn plan to tackle air pollution; older vehicles may eventually be allowed
- PSA sets first-half profitability record on pricing gains – Automotive News: PSA is acquiring General Motors’ Opel and Vauxhall brands to gain scale in its home continent. The companies are on track to close the deal before…
- PSA First-Half Profit Jumps as It Sells More Expensive Cars – Bloomberg: Europe’s second-biggest carmaker is acquiring the Opel and Vauxhall brands from GM to gain scale in its home continent. The companies are on track…
- GM could cut cars, says it doesn’t have an inventory problem – Freep: More than nine decades after legendary General Motors CEO Alfred Sloan famously declared the automaker would sell “a car for every purse and…
- GM launching over-the-air updates ‘before 2020,’ Barra says – Automotive News: General Motors plans to launch a new electrical vehicle architecture and infotainment system capable of over-the-air updates “before…
- GM shares hurt as investors question whether automaker can deal with slowing US market – CNBC: GM shares hurt as investors question whether automaker can deal with … General Motors may be cranking out the type of quarterly earnings it could…