- Tesla shares pop 10% after blowout earnings suggest it may be a ‘sustainable self-funded entity’ – CNBC: Results suggest the third quarter was Tesla’s strongest by virtually ever metric.
- Which new technologies make vehicles unreliable? – Freep: Like fans of a losing sports team, Ford, General Motors and Fiat Chrysler are left to say “wait till next year.” … Giving witness to the fallibility of other Japanese brands, Honda builds two of CR’s 10 least reliable vehicles, the Clarity sedan and …
- Wall Street on course for bounce after tech selloff – Reuters: Tesla surged 11 percent after the electric carmaker made good on billionaire Chief Executive Elon Musk’s promise it would yield a net profit in the quarter, encouraging hopes it will not have to raise more capital soon. The results came as a relief to …
- Here’s what every major analyst had to say about Tesla’s earnings: ‘This quarter was different’ – CNBC: Wall Street analysts raised price targets on Tesla, with many sounding more positive on Musk’s ambitious company.
- Why Penske Automotive generated record Q3 earnings – Automotive News: Penske Automotive’s third-quarter earnings set records, aided by increases in overall sales, plus higher gross profits in most parts of its retail automotive business.
- Elon Musk says Tesla’s Model 3 will come to the UK and Australia by mid-2019 – CNBC: Elon Musk said on Twitter that Tesla’s Model 3 would be rolled out in the U.K. and Australia by “around mid 2019.”
- Self-driving cars are a nonstarter for many teens – CBS News: Teenagers spend lots of time on smartphones, laptops and video games. But when it comes to an autonomous car that does the driving for you, it’s a nonstarter for more than half of them. Queried this year about driving — or not driving — a car that …
- Veoneer delays 2020 targets on slower car production starts – Reuters: Electronic car products maker Veoneer, carved out of Autoliv this year, forecast delays in achieving its 2020 income …
- Tesla’s blowout quarter – FT: Tesla’s third-quarter results, which the electric car company announced after the bell last night, smashed analysts’ (and Alphaville’s) expectations. Profits came in at $312m, or $1.75 per share, versus Street expectations of a loss of 19 cents a share …
- Volkswagen in talks with Waymo about mobility services partnership: Manager Magazin – Reuters: Volkswagen plans a multi-billion euros investment to produce battery cells with South Korea’s SK Innovation and is exploring a European partnership in the area of mobility services with Waymo, Manager Magazin said.
- VW in talks with Waymo about mobility services partnership – Manager Magazin – Reuters: Volkswagen plans a multi-billion euros investment to produce battery cells with South Korea’s SK Innovation and is exploring a European partnership in the area of mobility services with Waymo, Manager Magazin said.
- Vietnam’s VinFast in deal with PV Oil for electric car charging stations – Reuters: VinFast on Thursday signed a memorandum of understanding with PetroVietnam Oil Corp. , or PV Oil, to build charging …
- Tesla aiming to take on Uber with ride-sharing service – Autocar: Autocar’s impression of how the Model Y could look Company boss Elon Musk says challenging Uber is “obvious” step as EV maker records first quarterly profit in two years Tesla boss Elon Musk says that the firm is aiming to take on Uber with its own…
- Crash-Test Dummies Are Getting Fatter Because We Are, Too – Bloomberg: In Volvo Car Group’s cavernous crash facility in Gothenburg, Sweden, eight banks of 4,000-watt lamps shine on a V60 station wagon as technicians scurry about making final preparations for a side-impact crash test. A bank of electronic measuring …
- IFC invests US$7 million into Thai auto insurance startup Roojai – Yahoo: With the goal of bringing the Thailand auto insurance industry online, Roojai has raised a US$7 million Series A from IFC, the startup announced …
- Tesla Stock Surged 15% on a Surprise Profit – Barrons: Tesla’s relentless drive for profitability hit pay dirt on Wednesday: It reported a surprise profit that sent Tesla stock soaring nearly 15% in after-hours trading. The electric car maker announced an adjusted profit of $2.90 per share on revenue of $6 …
- Volvo buys a stake in electric charging firm FreeWire – CNBC: “To support wider consumer adoption of electric cars, society needs to make charging an electric car as simple as filling up your tank,” Zaki Fasihuddin, the Volvo Cars Tech Fund CEO, said in a statement. “Our investment in FreeWire is a firm …
- Maruti Suzuki India Q2 profit falls about 10 pct, beats estimates – Reuters: ) – India’s top-selling car maker, Maruti Suzuki India Ltd, posted a 9.8 percent fall in second-quarter net profit on Thursday, hurt by rising commodity prices and a weaker rupee. Net profit fell to 22.40 billion rupees ($305.73 million …
- One trillion yuan: China state carmaker FAW gains huge credit line – Reuters: China’s state-owned automaker FAW Group said it signed a deal with 16 banks for a credit line worth more than 1 trillion yuan ($144 billion), an eye-catching amount analysts said was mostly symbolic, albeit an important signal of government support.
- Toyota MR2 could be reborn as an electric sports car – Autocar: A replacement for the MR2 could appear by the mid-2020s Japanese firm plots revival of mid-engined roadster, with an electric powertrain looking likely Toyota is considering following up the introduction of the new Supra with a revival of the MR2,…
- Chastened Elon Musk resists urge to gloat about Tesla profit – FT: If Elon Musk were feeling an urge to gloat on Wednesday after Tesla’s surprise swing into profit, he certainly did not show it. In a quarter when most analysts still expected red ink, the electric carmaker came up with a $312m net profit- its first …
- Tesla targets VW, BMW as Model 3 heads for Europe – Automotive News: The CEO said the Model 3 measures up well against BMW’s 3 series, which sells roughly at the low end of that volume annually. Volkswagen Group’s …
- Jaguar Land Rover’s Slovak plant to produce 100,000 cars a year by 2020 – Reuters: British carmaker Jaguar Land Rover expects to reach annual production of 100,000 cars at its plant in Slovakia by 2020, the chief executive of the newly opened factory, Alexander Wortberg, said on Thursday.
- Tesla’s Musk says Model 3 to be available in Australia, UK around mid-2019 – Reuters: Tesla Inc Chief Executive Officer Elon Musk said on Thursday the electric carmaker’s new Model 3 will be available in Australia and the UK around the middle of next year.
- GM’s driverless car faces long road ahead – Reuters: GM’s driverless car faces long road ahead. 12:56pm IST – 01:57. GM and its Cruise self-driving car unit are hitting speed bumps. Sources tell Reuters its’ unlikely their autonomous cars will be out on the road in a large scale way in 2019. Conway …
- Daimler Q3 earnings fall 27%, hit by Germany slump – Automotive News: Daimler said customer demand remains strong even as a regulatory crackdown on diesel cars and a 13 percent sales slowdown for Mercedes-Benz cars in Germany weighed on third-quarter earnings.
- Daimler says is reviewing production footprint amid global tariffs – Reuters: Daimler Chief Financial Officer Bodo Uebber on Thursday said the company is reviewing ways to counter tariffs between China and the United States that have caused a price hike of Mercedes-Benz sports utility vehicles sold in China.
- Faurecia to buy Hitachi car navigation unit Clarion -Nikkei – Reuters: French car parts maker Faurecia SA is set to buy a majority stake in Japanese car navigation system maker Clarion Co from …
- Daimler hit by Germany slump, CEO forecasts high Q4 demand – Reuters: * Mercedes-Benz German sales fall 13 pct after diesel clampdown (Adds detail on Mercedes-Benz demand)
- Daimler profits fall sharply, warns of ‘challenging environment’ – FT: Mercedes-Benz owner Daimler warned of the “very challenging environment” facing the automotive industry as it reported a sharp fall in third-quarter profits on Thursday. Costs of delaying the sale of some diesel vehicles combined with lower sales hit …
- With Brexit talks in gridlock, British truckers plan for the worst – Reuters: Transport company boss Chris Blackburn is contemplating spending almost a million pounds for a chance to keep his trucks on European roads if Britain leaves the EU without a deal in March.
- Dyson is driving forward with its electric car ambitions – but is it heading for a crash? – Yahoo: The National Infrastructure Delivery Plan revealed government funding for Dyson “to develop a new battery electric vehicles securing £174m of investment in the area and creating over 500 jobs, mostly in engineering”. Even then, Dyson wouldn’t confirm …
- Hyundai Motor posts big profit miss on U.S. recall costs; shares dive – Reuters: Hyundai Motor posted a 68 percent plunge in quarterly net profit, missing an analyst consensus by a large margin as U.S. recall costs weighed.
- Chinese state-owned automaker FAW Group gets $144 billion credit line – Reuters: China’s state-owned automaker FAW Group said it signed a deal with 16 banks for a credit line worth over 1 trillion yuan ($144 billion), but did not give specific reasons as to why it wanted to secure access to such a large amount of funding.
- Hyundai Motor Earnings Drop on Safety Costs, Currency Headwinds – Bloomberg: The pressures on Hyundai Motor’s earnings are set to weigh on its shares, already down 25 percent this year through Wednesday. Analysts are concerned about the company’s profitability, with operating margins hovering at about 3 percent in recent quarters.
- Growth Engine for the World’s Carmakers Is Becoming a Liability – Bloomberg: In the past 48 hours, auto giants from Volkswagen AG and Ford Motor Co. to … The trade war with the U.S. and a sliding stock market are damping … China increased the levy on vehicles imported from America to 40 percent. … A rebate on purchase tax…
- EVs could put UK fuel duty system on the rocks – Autocar: Government looks to road pricing to replace fuel duty as electric vehicle sales rise The government is forecast to collect £28.3 billion in fuel duty this financial year, and yet those who drive pure-electric vehicles will contribute precisely zero to…
- There’s a Diesel Cloud Hanging Over Angela Merkel – Bloomberg: Merkel has long been more “car chancellor” than climate chancellor, says Jürgen Trittin, a former Green Party environment minister, and today her …
- Oil industry”s biggest threat isn”t Tesla, but aversion – Detroitnews: That aversion has a powerful and implacable impetus: the existential threat of climate change, Denning writes
- Chinese EV startup WM Motor raising at least $288 million from Baidu, oth – Reuters: Chinese electric vehicle (EV) startup WM Motor Technology Co Ltd aims to raise at least 2 billion yuan ($288.33 million) in its latest funding round to finance growth, valuing the nearly four-year-old firm at over 20 billion yuan, two people told Reuters.
- All profits are not created equal for Ford, Tesla – Detroitnews: Ford Motor Co., in the early stages of what’s expected to be a years-long restructuring, said third-quarter net income slid 37 percent to nearly $1 billion, reported nearly 9 percent pre-tax margins in North America and confirmed its cash hoard swelled …
- Ford Stock Soars on Q3 Earnings, Revenue Beat – Yahoo: Ford stock (NYSE:F) is soaring late in the day on Wednesday as the company posted its latest quarterly earnings results, which were stronger than …
- A Chill Elon Musk Talks Tesla’s Future on Earnings Call – Yahoo: Tesla’s Elon Musk was subdued and focused on the company’s earnings call, unlike combative and rambling calls of the past. He had reason to be …
- Musk sees uninterrupted profits ahead for Tesla – Axios: Few people – except maybe Elon Musk himself – predicted Tesla’s impressive third-quarter profit results, especially after the sideshow of the past three months. Why it matters: This could be a turning point for Tesla. The operating improvements …
- Musk Puts Targets on VW, BMW’s Backs as Model 3 Heads for Europe – Yahoo: Putting it another way, Musk said the Model 3 measures up well against BMW AG’s 3 Series, which does roughly the low end of that volume annually. Volkswagen AG’s Golf sells at the higher side of that range, he said. To contact the reporters on this …
- Tesla Delivers, But the Stock Demands Much More – Bloomberg: The electric car maker must keep up the latest quarter’s performance to … weird $420 takeover episode, the electric car company actually generated …
- Hyundai Nexo wins five-star rating in Euro NCAP testing – Yonhap: SEOUL, Oct. 25 (Yonhap) — Hyundai Motor Co. said Thursday that its Nexo hydrogen fuel-cell electric car received a five-star overall rating from the European New Car Assessment Programme (Euro NCAP). The Nexo is equipped with active safety and …
- Tesla Posts Surprise Profit – WSJ: Tesla reported a record third-quarter profit after the auto maker increased Model 3 production. The news is lifting the company”s share price and giving embattled CEO Elon Musk renewed credibility.
