Top News:
- Exclusive: Tesla’s Klaus Grohmann ousted after clash with CEO Musk – sources – Reuters: Tesla executive Klaus Grohmann was ousted last month after a clash with Chief Executive Elon Musk over the strategy of Grohmann’s firm, which Tesla had acquired in November, a source familiar with the matter told .
- GM’s Q1 profit surges 34% on North America strength – Automotive News: General Motors said its earnings jumped 34 percent in the first quarter, defying a slowdown in the U.S. market with stronger retail sales of SUVs and crossovers and growth at its financing arm. GM’s net income of $2.
- U.S. truck, crossover sales spark jump in GM first-quarter profit – Reuters: General Motors Co on Friday reported a much better-than-expected first-quarter net income driven by strong sales of its profitable large pickup trucks and crossovers in the United States, sending its shares up nearly 2 percent in premarket trading.
- Didi, China’s Uber, Raises $5.5 Billion – WSJ: China’s Didi Chuxing Technology said it raised $5.5 billion in a new funding round, valuing the ride-hailing company at more than $50 billion.
- GM earnings top Street estimates, with strong net income – CNBC: Those are compared with earnings of $1.26 on $36.27 billion in revenue in the same quarter last year. Shares were up about a half a percent on the…
- GM quarterly profit jumps on strong U.S. truck, crossover sales – Reuters: General Motors Co on Friday reported a jump in quarterly net profit driven by strong sales of full-size trucks and crossovers in the United States and cost cutting.
- Honda posts 4Q profit – Yahoo: TOKYO (AP) _ Honda Motor Co. (HMC) on Friday reported fiscal fourth-quarter net income of $855 million, after reporting a loss in the same period a…
- GM first quarter earnings soar 33% to $2.6 billion – Freep: General Motors said Friday its earned profits soared 33% to $2.6 billion during the first three months of the year, driven by sales of its trucks and SUVs…
- General Motors profit up 34 percent on US truck, SUV sales – Washington Post: DETROIT – General Motors’ first-quarter profit rose 34 percent as the company’s strong truck and SUV lineup helped it increase U.S. sales when the…
- Mazda quarterly operating profit plunges 56% – Automotive News: Mazda Motor Corp.’s operating profit tumbled 56 percent in the latest quarter, as a deteriorating sales mix, foreign exchange rate losses and…
- Autoliv flags auto output uncertainty after profit tops forecast – Reuters: Autoliv , the world’s biggest maker of airbags and seatbelts, reported a bigger-than-expected rise in quarterly earnings but flagged uncertainty about global vehicle production ahead, sending its shares slightly lower.
- Peugeot said to fire top German execs after sales promotion was too popular – Automotive News: PSA Group fired three of its top managers in Germany after a sales campaign led to thousands of Peugeot 208 cars being sold at more…
- Mini Remastered by David Brown to debut at London motor show – Autocar: The Mini Remastered features a bespoke interior and paintwork Features a bespoke interior and paintwork, a tweaked 1275cc engine and Apple CarPlay functionality; previous models from DBA include the Speedback GT
- Skoda expands SUV focus with upcoming Karoq – Automotive News: Skoda says its Karoq compact SUV will be a key model in helping to drive its … The Karoq will replace the Yeti crossover in Skoda’s lineup and join the … The Koroq is underpinned by parent Volkswagen Group’s MQB platform like…
- Two Wheels Good, Four Wheels Bad – Bloomberg: It frequently makes more money financing vehicle sales than on the cars themselves: Operating income from financial services was 199 billion yen…
- Aurora Is The Secretive Startup From the Best Minds in Self-Driving Cars – Fortune: Now, they’re striking out on their own-and likely competing with at least one of their former employers-with a self-driving car company called Aurora…
- India court approves $1.18 bln settlement of Tata-DoCoMo dispute: TV – Reuters: The Delhi High Court has approved a settlement of the $1.18 billion dispute between Tata Sons and NTT DoCoMo, allowing the Indian firm to buy out the Japanese firm’s stake in the telecoms joint venture, TV news channels reported on Friday.
- Honda forecasts profit drop despite positive first-quarter – Automotive News: TOKYO – Honda Motor Co. swung back to profitability in the latest quarter as the company put recall costs behind it, but a worsening foreign exchange…
- Blackstone Power Plans Hit a Snag in Porsche, BMW Heartland – Bloomberg: The region, home of automakers from Porsche Automobil Holding SE and BMW AG to gas company Linde AG, faces a looming power shortage as the…
- Hyundai teases design of Kona small crossover – Automotive News: Hyundai’s teaser picture shows that the Kona will have LED daytime running lights positioned above the headlights, an arrangement the brand says…
- Hyundai launches world’s first contactless car – Autocar: Hyundai has converted an Ioniq electric model into the world’s first contactless car as part of a charity initiative. The contactless car has five embedded…
- Honda sees auto sales edging up, profit sliding in 2017/18 – Reuters: Honda Motor Co forecast a 16 percent fall in operating profit for the current financial year as the Japanese automaker sees higher auto sales being offset by a stronger yen, changes to its pension plan and research and development costs.
- Skoda Karoq full specifications revealed ahead of May launch – Autocar:
- Honda forecasts profit to fall on slowdown in US car sales – FT: The weak forecast came as Honda projected a decline in car sales in North America and Europe, and a 9.4 per cent rise in research and development…
- Honda forecasts lower operating profit in 2017/18 – Reuters: … of 850.8 billion yen according to 23 analysts polled by Thomson I/B/E/S, and lower than the 840.7 billion yen posted for the year just ended.
- Geely’s Volvo Cars Q1 operating profit rises to 3.5 bln SEK – Reuters: Gothenburg-based Volvo’s sales rose to 47.6 billion crowns from 42.0 billion a year ago, underpinned by strong demand for its 90 series cars.
- Skoda Karoq name confirmed to replace Yeti – Autocar: Skoda Karoq is the name given to the Yeti’s replacement, Skoda has now confirmed. The Nissan Qashqai rival’s new name comes from the words…
- Tesla’s Elon Musk Got a Rare Welcome on His China Visit This Week. Why This Matters – Yahoo: Late on Tuesday night, China’s official news agency tweeted a photo of the Tesla chief chatting with Vice Premier Wang Yang, one of the country’s top officials in charge of the economy, in what a close watcher of China’s automotive industry says may go …
- Toyota expands connected-car hub in Texas – Automotive News: Toyota Connected was created in April of last year “to significantly expand Toyota’s capabilities in the fields of vehicle data science, machine learning…
- GM posts record 1Q results with $2.61B net income – Detroitnews: GM profits aided by strength in North America and China, GM Financial
- GM earnings expected to rise in first quarter – Detroitnews: GM is the last of the Detroit Three automakers to report first-quarter earnings. … General Motors Co. will release first-quarter earnings Friday that are…
- Uber’s Levandowski to take smaller role in self-driving during Waymo lawsuit – Reuters: The head of Uber Technologies Inc’s self-driving vehicles unit, Anthony Levandowski, will step aside from some of his duties until a lawsuit against Uber in which he is accused of stealing trade secrets is resolved, Uber said on Thursday.
- The Commute of the Future Will Be Driverless, Flying and Electric – Bloomberg: Even major oil companies are forecasting and planning for the rise of the electric vehicle. ‘s Justin Bachman points out that we’re really far…
- South Korea automakers concerned over possible revision of US trade deal – Reuters: A worker checks cars made by South Korea’s automakers Hyundai Motor and affiliate Kia Motors at their shipping yard at a … REUTERS/Lee Jae-Won.
- Uber demotes head of self-driving car programme – FT: The Uber executive at the centre of a lawsuit over self-driving technology has been demoted, just days before a court ruling that could temporarily halt…
- Uber Executive Steps Back From Self-Driving Cars During Waymo Legal Fight – New York Times: An Uber self-driving car in San Francisco last month. … legal battle between Uber and Waymo, the self-driving-vehicle company that was spun off from…
- Facebook’s Mark Zuckerberg Visits Ford as Part of His Year of Travel Challenge – Yahoo: Facebook’s Mark Zuckerberg visited Ford Motor Company today as part of his “Personal Year of Travel Challenge” to get out and talk to more people…
- Check Out the Lexus That Apple’s Using to Test Self-Driving Car Technology – Bloomberg: Almost two weeks after Apple Inc. secured permission to test its autonomous-car technology in California, the first images of the vehicle have been…
- Ally Questions Automakers’ Discipline as Cars Pack Dealer Lots – Bloomberg: Ally Financial Inc. Chief Executive Officer Jeff Brown said he’s more concerned about bulging car-dealer lots than overdue auto loans. “Inventory lots…
- Uber’s Levandowski to step aside amid Waymo litigation – Reuters: Uber Technologies Inc said the head of its self-driving vehicles unit, Anthony Levandowski, will step aside from his role for the remainder of the company’s litigation with Waymo, the self-driving car division of Alphabet Inc.
- Alphabet Rides Mobile Ad Binge, While Moonshot Spending Ebbs – Bloomberg: The company cut spending on its Other Bets units — the non-Google businesses that include its self-driving car company, Waymo. Expenditures on…
- GM Earnings: What to Watch – WSJ: General Motors Co. reports first-quarter earnings before the market opens Friday; U.S. production outlook, South America sales and commodity costs will be in focus.
- Renault revenue lifted by new models, Lada consolidation – Reuters: REUTERS/Arnd Wiegmann/File Photo … A near-16 percent jump in vehicle deliveries was the biggest contributor, boosting revenue by 9.2 percent, …