Top News:
- China preparing ‘California-style’ scheme to promote green cars – Beijing Auto chairman – Reuters: The new scheme to promote “new energy” cars, which generally refers to all-electric battery cars or heavily electrified plug-in hybrids, gives…
- GM earnings more than doubles on U.S. truck demand; shares jump – Reuters: General Motors Co said Thursday adjusted net income more than doubled in the second quarter, due to robust profit margins driven by North American truck sales and continued strength in China
- Luxury sports car maker Ferrari files for US IPO – Reuters: Fiat Chrysler Automobiles (FCA) has submitted a request to U.S. regulators for an initial public offering of its luxury sport car maker…
- Daimler says hacking concerns drive Nokia maps bid – Reuters: FRANKFURT Daimler (DAIGn.DE) Chief Executive Dieter Zetsche said a desire to have better control over data security was one of the reasons…
- Carmakers turn to digital prototypes – FT: Costly vehicle mock-ups are set to become rarer
- Opel CEO says plan to return to profit remains ambitious – Reuters: General Motors warned European employees that the Opel and Vauxhall brands were still posting significant losses, and that meeting a goal of returning to profit will be difficult given the crisis in Russia and the euro zone.
- Hyundai offers $230m olive branch – FT: Carmaker’s unexpected dividend comes amid fall in profits due to China weakness and ageing portfolio
- Daimler quarterly profit jump defies China slowdown – Reuters: Daimler’s second-quarter operating profit jumped 54 percent to a record high, as sales of trucks and a new luxury car…
- Ferrari Files for Share Listing on New York Stock Exchange – Bloomberg: Fiat Chrysler Automobiles NV’s plan to raise money by spinning off Ferrari took a step forward with the automaker filing for the unit’s initial public…
- GM posts higher than expected Q2 earnings – Detroit News: Automaker was rocked a year ago by ignition switch recall costs
- UK: More productive automakers boost output – Just-auto: British car factories have achieved their best half year output since 2008, the Society of Motor Manufacturers and Traders (SMMT) announced.
- RUSSIA: Lifan starts building vehicle plant – Just-auto: China’s Lifan Industry has begun construction of a greenfield plant in Lipetsk, central Russia, almost a year after signing an agreement.
- Maruti Plans New Showrooms to Sell More Expensive Cars – Bloomberg: Maruti Suzuki India Ltd. said it plans to set up almost 100 new showrooms in India in the next six to eight months to attract buyers seeking a more…
- Korea Inc spreads the cash as investor pressure builds – Reuters: * Hyundai Motor, SK Hynix, Cheil Inds to return capital to shareholders
- Sporty new models help Daimler make record profits – FT: Tipped by analysts to deliver “the mother of all quarters”, Daimler topped even those heady expectations as sales of compact models and the new…
- UK car exports accelerate in June – FT: Best half-year output for industry since 2008
- Hyundai to pay first interim dividend – FT: Payout of $231m comes amid falling sales and follows controversial $10bn land purchase
- Daimler CEO says expects sales momentum in China to continue – Reuters: The availability of the new C-Class and demand for compact cars like the GLA will help drive sales in the world’s largest car market, Zetsche said.