Top News:
- Germany to Agree Plan to Cut Diesel Emissions-Sources – New York Times: The German government will not force the auto industry to make costly engine retrofits to cut emissions but will…
- GM slashed July rental car sales, boosted commercial fleet – Reuters: General Motors Co said on Tuesday it slashed July sales to rental car fleets in the United States by 80 percent compared to a year ago to just over 2,700 vehicles, while increasing sales to commercial fleets.
- EU anti-fraud office send Volkswagen probe findings to German prosecutors – Reuters: The European anti-fraud office investigating whether Volkswagen used EU funds and European Investment Bank (EIB) loans to develop devices that cheated emission tests has sent its judicial recommendations to German prosecutors.
- Maruti Suzuki sales jump in July as India GST lowers prices – Nikkei: Maruti Suzuki India reported a better-than-expected jump in domestic sales in July as the nation’s largest carmaker dispatched…
- Joy Will Abound In Detroit As GM Dumps Loss-Making Opel; But What If PSA Turns It Around? – Forbes: GM held a 7% stake in Peugeot before the talks began about a more formal merger, but sold it in 2013. PSA – which includes the Peugeot and Citroen…
- Daimler invests in flying taxi firm Volocopter – Reuters: Germany’s Volocopter said it has received 25 million euros ($30 million) in funding to develop an electric flying taxi, with car and truck maker Daimler among the firms providing fresh cash.
- Honda posts strong first quarter, sees higher annual profit on favorable forex – Reuters: Honda Motor Co. drove up its profit forecast for the year citing a more favorable currency exchange rate, after posting a surprise rise in quarterly earnings on the back of a weaker yen and solid demand in Asia.
- LEVC TX Black Cab London taxi on sale from £55,599 – Autocar: The new LEVC TX has a range of over 400 miles, and can run for more than 70 miles on full electric power Zero-emission capable range-extender black cab has a range of more than 400 miles, and can run for more than 70 miles on electric power only
- Silicon Valley tech companies use this start-up to fill employees’ gas tanks while they’re at work – CNBC: Booster delivers gas to your car while you’re parked at work. Conversion Capital led a $20 million investment in Booster to help it expand across the U.S.
- Wells Fargo Looks Unusually Cheap But Investors Fret Mojo’s Gone – Bloomberg: But a bogus-account scandal last year and a car-insurance debacle that emerged last week are calling that into question. The bank’s price-to-book…
- Peugeot owner PSA closes Opel and Vauxhall deal – FT: Peugeot owner Groupe PSA has closed its acquisition of the Opel and Vauxhall brands from General Motors and installed new management, the…
- German transport minister denies cosy ties with car industry – Reuters: German Transport Minister Alexander Dobrindt rejected suggestions on Tuesday that he is too closely tied to the country’s car …
- Tesla drops after Musk warns of ‘manufacturing hell’ – Reuters: Shares of Tesla dropped 3.5 percent on … transform it from a niche player to a heavyweight in the automobile industry.
- Tesla Model 3 Performance model due in 2018 – Autocar: Elon Musk shared pic of first Tesla Model 3 off the production line on Twitter Elon Musk reveals that a hot variant of his new all-electric car, which is the brand’s most demanded yet, will land in the middle of 2018
- BRIEF-Ferrari wants ‘utility vehicle’ in plan to double profit – Reuters: * Ferrari wants ‘utility vehicle’ in a plan to double profit – citing sources
- Honda posts profit increase as weak N.A. is offset by Asia demand – Automotive News: Honda reported a slight rise in operating profit in the latest quarter as booming vehicle sales in Asia helped to offset a slide in North American demand.
- Citroen C3 Aircross on sale this November priced from £13,995 – Autocar: The C3 Aircross is more spacious than Juke in cabin and boot C3 Aircross has a modular interior layout, which is aimed at providing it with class-leading space
- After Defeat in Europe, GM Is Picking Its Battles – WSJ: GM said it has completed the sale of its Opel unit to France’s Peugeot, marking the end of 88 years as a mainline car maker in Europe and nearly two decades of heavy losses despite near-constant restructuring.
- PSA moves swiftly to stamp authority on Opel/Vauxhall – Reuters: PSA Group put new managers in place at Opel and Vauxhall on Tuesday, completing a 2.2 billion euro ($2.6 billion) takeover which helps the French company to become Europe’s second-largest carmaker by sales.
- Five S. Korean carmakers’ sales fall 3.1 pct on weak demand – Yonhap: Hyundai Motor Co., Kia Motors Corp., GM Korea Co., Renault Samsung Motors Corp. and SsangYong Motor Co. — sold a total…
- German Diesel Cheating Gives Fuel to Merkel Foes – Bloomberg: Auto bosses are being summoned to Berlin to meet with Dobrindt, … With millions of German car owners affected, Merkel’s absence would be…
- Why has PSA bought Opel and Vauxhall? – Autocar: Carlos Tavares, PSA chairman The company that owns Peugeot, Citroën and DS has bought General Motors’ European business. Here’s why
- GM and PSA deal: What happened last time Peugeot bought a car company – Autocar: The Talbot Lotus Sunbeam was a rare bright spot for Chrysler Europe under PSA The PSA Group purchased Chrysler Europe for a single dollar in 1978 – and things did not go well
- Didi Chuxing announces tie-up with Uber’s European rival Taxify – Reuters: Chinese ride-sharing firm Didi Chuxing said on Tuesday it would invest and collaborate with European ride-sharing firm, Taxify, in a strategic partnership.
- Honda lifts full-year forecasts on strong motorcycle sales – FT: Solid sales of its motorcycles and weakness in the yen provided Honda’s earnings with a boost in the first quarter and have prompted the vehicle…
- China’s ride-sharing giant Didi Chuxing is backing Uber’s biggest rival in Europe – CNBC: Chinese ride-sharing company Didi Chuxing is to invest in and collaborate with Uber rival Taxify to grow its network across Europe, Africa and Asia.
- Honda posts strong first quarter on Asia sales, raises annual profit forecast – Reuters: Honda Motor Co. posted a better-than-expected quarterly profit as higher vehicle sales in Asia helped offset a slide in North …
- PSA tightens its management grip on Opel/Vauxhall – Reuters: PSA Group completed its takeover of the Opel and … PSA and GM have tried before to combine their small cars – the failed …
- PSA finalises purchase of Opel/Vauxhall from General Motors – Reuters: PSA Group clinched the Opel and Vauxhall brands from General Motors on Tuesday, helping the French carmaker to leapfrog French rival Renault to become Europe’s second-ranked carmaker by sales.
- Japan’s Honda posts stronger-than-expected first quarter operating profit – Reuters: Honda Motor Co. posted a 0.9 percent rise in operating profit for the first quarter as strong Asian sales of cars and motorcycles …
- Energy supplier Ovo launches tariff for electric vehicle drivers – Reuters: … Ovo Energy’s EV Everywhere tariff offers customers a two-year fixed energy rate that …
- Renault Samsung’s July sales jump 26 pct on exports – Yonhap: Renault Samsung Motors Corp., the South Korean unit of French carmaker Renault S.A., said Tuesday its July sales…
- How BMW Uses Artificial Intelligence And Big Data To Design And Build Cars Of Tomorrow – Forbes: BMW creates some of the most high-tech cars we have yet seen. The German giant builds 2.5 million vehicles every year and sells them all over the…
- Mercedes drops contractor in wake of CBS investigation – CBS News: Mercedes-Benz banned a construction subcontractor from its plant in Vance, Alabama, after an CBS investigation found that foreign workers had…
- Tesla Will Make a Faster Model 3 When Elon Musk Escapes ‘Hell’ – Fortune: Tesla Model 3 production is just beginning, and already consumers want to know when they can get their hands on a faster performance version of the electric vehicle built for the masses. The answer: sometime mid-2018, according to CEO Elon Musk.
- Amid His Most Important Tesla Milestone, Elon Musk Says He May Be Bipolar – Forbes: The guiding force behind Tesla, SpaceX, The Boring Company and … a goal Musk laid out in his original “Secret Tesla Motors Master Plan” back in…
- What To Expect As Tesla Reports Q2 Results – Forbes: Tesla Motors is expected to publish its Q2 2017 results on August 2, reporting on a quarter that saw its automotive deliveries decline sequentially,…
- Tesla workers ask for employee safety plan, clarity on pay – Reuters: A group of Tesla Inc workers on Monday asked the electric car maker’s board to provide a plan to address employee safety and …
- Tesla falls after Model 3 launch as Wall Street thinks Musk sounded ‘squeamish’ – CNBC: Wall Street finally got to see all the details of the Tesla Model 3 during the car’s launch event Friday. So far investors have given it the thumbs down…
- Tesla Finally Delivers the Model 3 – Bloomberg: Elon Musk unveiled the newest addition to the Tesla lineup on Friday with the $35,000 Model 3, hoping to boost an electric vehicle market seeing…
- Your Watch Needs a NATO Strap – Fortune: Whether it’s an Aston Martin, a vodka martini, or a Rolex Submariner-an association with the James Bond franchise makes a product all the more…
- Festival of Speed, New Cars – Reuters: Jessica Omari reports from the Goodwood Festival of Speed in Sussex on the cars making their debut, from the Aston Martin Vulcan AMR pro to the …
- Factbox: Germany scrambles to resolve diesel crisis – Reuters: A court’s threat to ban diesel cars from Stuttgart’s inner city has sent German politicians, carmakers and labor leaders scrambling to clean …
- Germany open to class action lawsuits in emissions scandal – Reuters: Germany is open in principle to class action lawsuits … The car industry is hoping decisions made at the diesel summit this week …
- Daimler exec: Fully self-driving ‘phenomenally expensive’ – Automotive News: Ola Kaellenius, Daimler AG’s director of Group Research & Mercedes-Benz Cars Development, has been doing lots of interviews lately about the new…