Top News:
- Ford says it will spend $295 million on two new recalls – Reuters: Ford Motor Co , the second largest U.S. automaker, on Wednesday announced two new recalls affecting 440,000 vehicles and expects to spend about $295 million to fix the issues.
- Audi’s unions demand electric model for main German plant – Reuters: Labor leaders at Volkswagen’s luxury Audi brand have asked top management to assign production of an all-electric model to the carmaker’s main plant in Germany, concerned they might lose out as electric cars gain in importance.
- Tesla: A Little Optimism, Please? – Barrons: March is slowly coming to an end-and that means we can expect Tesla (TSLA) to update investors on its first-quarter car deliveries, perhaps as soon as next week. JOHANNES EISELE/AFP/Getty Images. So far, the analysts we’ve heard from have been fairly…
- Daimler accelerates electric car program – Reuters: Mercedes-Benz owner Daimler is accelerating its electric car program, it said on Wednesday after announcing that it had failed to cut fleet emissions in Europe for the first time since 2007.
- Firms demand EU deal ensures their survival as May triggers Brexit – Reuters: Carmakers and airlines easyJet and Ryanair demanded Britain secure a Brexit deal which preserves their access to Europe, warning any barriers to trade could risk the future of car plants and ground flights between the UK and the continent.
- VW files complaint over searches of its dieselgate law firm – Reuters: Volkswagen has filed a legal complaint with a Munich court against the searches carried out by German prosecutors at the law firm it hired to investigate its emissions scandal.
- BMW says UK must take global business views into account during Brexit – Reuters: German carmaker BMW, which operates Mini and Rolls-Royce plants in Britain, said the country must listen to the views of global companies during Brexit talks, with continued tariff-free access to Europe of crucial importance.
- Tencent deal boosts Tesla’s China hopes – Reuters: China’s Tencent Holdings buys a 5 percent stake in U.S. electric car maker Tesla for $1.78 billion, the latest investment by a Chinese internet company in the potentially lucrative market for self-driving vehicles and related services. ? Hide Transcript.
- GM gets OK to import cars to Argentina – Automotive News: A unit of General Motors has reached a deal with port operator Terminal Puerto Rosario to import cars to Argentina. The agreement moves the automaker a step closer to exporting from its nearby plant.
- Firms stack up Brexit warnings as May triggers divorce talks – Reuters: Ford and Ryanair warned on Wednesday of the risks of Brexit including disruption to flights and tariffs on cars which could hurt Britain and damage businesses, on the day the prime minister was launching divorce proceedings from the EU.
- Deep subprime becomes norm in car loan market, analysts say – Automotive News: About a third of the risky car loans that are bundled into bonds are considered ‘deep subprime,’ a level that has surged since 2010 and is translating to higher delinquencies, Morgan Stanley says.
- Updated Mercedes-Benz S-Class confirmed for Shanghai motor show – Autocar: The facelifted S-Class will be the brand’s most autonomous car to date. We’ve taken a ride in the upgraded S-Class, which will use map data to paint a better picture of its surroundings and offer more advanced driverless control
- Mitsubishi UFJ optimistic on Saudi project finance, Aramco IPO role – Reuters: Mitsubishi UFJ Financial Group (MUFG) expects double-digit growth in its project finance business in the Middle East in 2017, driven partly by Saudi Arabia’s efforts to reduce its dependence on oil, the bank’s co-head in the region Elyas Algaseer said.
- Opel managers in line for big bonuses after PSA deal, report says – Automotive News: General Motors will pay Opel’s senior managers million-euro bonuses following the sale of the German brand to PSA Group,…
- Daimler boss: European Union vital for business in changing world – Autocar:
- Mercedes Seized 1.6 Million Counterfeit Parts Last Year – Yahoo: The market in counterfeit auto parts has to be in the tens of millions. Mercedes parent Daimler said it alone has seized 1.6 million fake parts for its…
- Startup Swap Motors wants to make selling a used car easier for everyone – Chicago Tribune: A new Chicago tech startup lets car-sellers put their vehicles up on the auction block from their own homes. Swap Motors co-founder Alex Johnson…
- London and Paris announce real-world fuel emissions testing for cars – Autocar: The system will help identify environmentally friendly models in a bid to increase uptake in them and reduce air pollution in cities
- Tesla Just Got A Sugar Daddy – Forbes: Early yesterday, news broke that China’s most valuable company, Tencent Holdings had acquired a 5% stake in Tesla. In a 13G filing with the SEC,…
- Ford warns Brexit deal must include tariff-free access to customs union – Reuters: U.S. carmaker Ford said on Wednesday that Britain must secure a Brexit deal which includes full tariff-free access to the entire customs union of European countries, not just the 27 other members of the European Union.
- Tencent drifts off course with Tesla – Reuters: REUTERS/Jason Lee … But Musk’s electric cars are not a great fit with the Chinese group’s cash-cow businesses, social media and mobile games.
- BRIEF-Yaxia Automobile’s units to lease cars to car-hailing service provider Didi Chuxing – Reuters: BRIEF-Yaxia Automobile’s units to lease cars to car-hailing service provider Didi … is the news and media division of Thomson .
- Tesla Stock’s Fair Value Seen in Low $200s – Barrons: We estimate Tesla (ticker: TSLA) can deliver roughly 428,000 vehicles at an average selling price (ASP) of $57,900 in 2020, while doing an additional…
- Tencent Hits a Speed Bump With Tesla – WSJ: So its $1.8 billion investment in electric-vehicle maker Tesla for a 5% stake is a bit of a head-scratcher. There’s an element of ‘me too’ about this. Tencent is often grouped with search-engine company Baidu and e-commerce giant Alibaba as the holy …
- Mitsubishi open to helping Renault in Southeast Asia – Automotive News: Mitsubishi is open to rebadging and selling models from alliance partner Renault in Southeast Asia. It’s one way the newest member of the…
- Mercedes Hastens Electric-Car Rollout as Combustion Era Fades – Bloomberg: Combustion engines would continue to be refined for a “transitional period,” Mercedes parent Daimler AG said on Wednesday. “We want to shape the…
- Daimler brings forward EV goals – Automotive News: The models will be part of a lineup that Mercedes-Benz will market under a new subbrand, EQ. Separately, Daimler said it expects record sales…
- Easy Come, Easy Go: Volkswagen Overtaken By Toyota – Forbes: By the end of last year, Volkswagen Group’s dearest wish to become world’s largest automaker was fulfilled – at least officially. Two months into the…
- Daimler says expects record sales for Mercedes-Benz cars in first quarter – Reuters: FILE PHOTO: A Mercedes-Benz car is pictured in a production line at the plant of German carmaker Mercedes-Benz in Bremen, Germany January 24, …
- Uber resumes self-driving program three days after Arizona crash – Reuters: Uber Technologies Inc put its self-driving cars back on the road on Monday, … an Uber spokeswoman, who declined to be named, told .
- Black Tesla worker says he faced racist taunts, violent threats – Automotive News: A black production worker at Tesla Inc. has filed a lawsuit claiming his job quickly turned from “a dream come true” to a nightmare when he was…
- Subaru goes bobsledding – Automotive News: Subaru takes a WRX STI bobsledding in the latest spot to join our weekly viral video charts.
- Uber diversity report shows shortage of women, minorities – Reuters: Uber Technologies Inc released its first diversity report on Tuesday, showing that women and non-white employees are underrepresented at the ride-services company – just as they are at many other technology firms.
- Toyota bringing ‘kaizen’ to Japan’s farms – Nikkei: Toyota Motor is using its vast knowledge of production management systems and process improvements to help Japanese farmers…
- (LEAD) Hyundai considers debuting Genesis sedans in China next year – Yonhap: Hyundai Motor Co., the country’s biggest carmaker by sales, said Wednesday it is considering launching its luxury…
- Volkswagen Golf R: Enjoy The Fun of Driving Halo Cars Like This While You Still Can – Forbes: It’s a confusing time to enjoy driving. The future of everything on the road is either electric, automated, or both, we’re told. No one cares about the pure…
- Tencent shares edge higher after revealing 5% stake in Tesla – FT: Shares in Chinese tech giant Tencent are up slightly in Hong Kong after the company revealed it had taken a 5 per cent stake in electric carmaker…
- Car shopping site CarGurus hires banks for stock offering, report says – Automotive News: The company makes money from the network of car dealers who pay to post their inventory on the website. Demand for cars, SUVs and pickup trucks…
- The 2017 Toyota Prius: Canada’s green car of the year – Yahoo: The 2017 Toyota Prius is already redefining the concept of “Hybrid”, with its bold, sporty exterior, advanced yet…
- Ford’s Biggest News Is About The Michigan Data Center, Not Warmed-Over Words About Truck Jobs – Forbes: … its Michigan Assembly plant near Detroit and at a nearby engine plant to start producing an all-new Ranger midsize pickup truck and all-new Bronco…
- GM Blows Off David Einhorn Like Apple Did ‘iPrefs’ – Barrons: Greenlight Capital’s David Einhorn is leaning on General Motors (GM) to split its shares in two. Einhorn insists the move will boost shareholder value…
- Tesla (TSLA) Stock Jumps After Tencent Buys 5% Stake – Yahoo: Chinese tech giant Tencent Holdings Ltd. TCEHY has purchased a 5% stake in Tesla Inc. TSLA according to a recently released U.S. regulatory filing.
- Self-driving car crash comes amid regulations debate – Detroitnews: But images of Uber’s Volvo SUV rolled onto its side reverberated heavily on social media. Uber responded by briefly suspending its self-driving cars in…