Top News:
- Hyundai faces weak outlook as U.S., China woes persist, dent Q2 results – Automotive News: Hyundai posted its smallest quarterly net profit in five years, falling dismally short of estimates, and warned the second half of 2017 would be challenging as political headwinds hit sales in China and slow U.S. demand continues.
- Comment: The questions the government must answer before a combustion engine ban – Autocar: Industry can cater to a ban on petrol and diesel cars, but can the government?
- Aston Martin CEO berates ‘absurd’ plans to ban petrol and diesel car sales – FT: The UK excels at premium and luxury cars, from Bentley and Rolls-Royce to Aston Martin and McLaren. But luxury car buyers around the world in 2040 will still require gasoline engines. If your home market suddenly bans gasoline, then really practically…
- Daimler second-quarter earnings lag as cartel allegations loom – Reuters: Daimler’s co-operation projects with carmakers will not be curbed by a European Commission investigation into alleged anti-competitive behaviour among German carmakers, Chief Executive Dieter Zetsche said on Wednesday.
- Britain will ban new petrol and diesel cars from 2040, minister says – Reuters: Britain will ban the sale of new petrol and diesel-powered cars from 2040 as part of a plan to get them off the roads altogether 10 years later, environment minister Michael Gove said on Wednesday.
- Elon Musk reveals his Boring Company elevator to take cars into an underground tunnel network – CNBC: The elevator takes a vehicle underground to enter the network of tunnels.
- German conservative calls for phase-out of petrol and diesel – Reuters: Germany should soon start phasing out petrol and … it would ban the sale of new petrol and diesel-powered cars from 2040.
- Car Cartel Case Could Be Long and Winding Probe: QuickTake Q&A – Bloomberg: The allegation is that discussions between the car rivals dating back to the 1990s that were supposedly forums for thrashing out technical standards…
- Hyundai Motor Q2 net profit halves as China, U.S. sales sag – Reuters: Hyundai Motor’s bleak results stretched into a 14th straight quarter as political headwinds continued to drag down sales in China, its biggest market, and higher incentives failed to boost business in the United States.
- BRIEF-Chongqing Changan Automobile and Ford Motor’s JV posts H1 net profit – Reuters: * Says H1 net profit of its joint venture with Ford Motor at 6.2 billion yuan ($917.91 million)
- Renault Samsung upgrades QM3 to compete with rival subcompact SUVs – Yonhap: Renault Samsung Motors Corp. on Wednesday unveiled the upgraded QM3 subcompact SUV to better compete with…
- Peugeot-owner PSA reports ‘historic’ profitability – FT: PSA Group reported record profitability in its core manufacturing division in the first half of the year as the maker of Peugeot and Citroën cars was able…
- UK Poised to Ban Diesel, Gasoline Cars by 2040 as Era Ends – Bloomberg: The U.K. will ban sales of diesel and gasoline cars by 2040 to combat air pollution, becoming the latest European country to embrace that the future in transportation will be electric vehicles. Environment Secretary Michael Gove will announce a new …
- Self-Driving People, Enabled by Airbnb – New York Times: It grew like a weed – as all kinds of people became taxi drivers in their spare time. But Uber made clear that its ultimate goal was self-driving cars.
- Daimler says strategy review may result in legally separate entities – Reuters: German lorry and cars maker Daimler (DAIGn.DE) on Wednesday said it is reviewing its company structure and may legally …
- GAM’s Howard Says Move to Electric Cars Inevitable – Bloomberg: Julian Howard, head of multi-asset solutions at GAM, discusses his call on automakers following the latest diesel scandal, regulation for the sector and…
- Peugeot Hits New Profit Record as Pricing Prevails – New York Times: PARIS – PSA Group increased sales and profit in the first half, the maker of Peugeots and Citroens said, beating analyst expectations with a new…
- Daimler reports booming sales of Mercedes-Benz cars thanks to 28% rise in demand from China – CNBC: Daimler’s second-quarter operating profit rose 15 percent, below expectations.
- Peugeot-owner PSA shrugs off weakness in China – FT: PSA Group reported record profitability in its core manufacturing division in the first half of the year as the maker of Peugeot and Citroen was able to…
- Daimler reports record sales, revenue in Q2 – FT: Mercedes-Benz parent Daimler has posted another quarter of record sales and revenue, creating a strong base off which it says it will be able to…
- 456bhp Renault Zoe e-sport driven flat out on track – Autocar:
- Peugeot sets new profitability record on pricing gains – Reuters: PSA Group increased sales and profit in the first half, the maker of Peugeots and Citroens said, beating analyst …
- Daimler Vows to Fight for Diesel’s Survival Amid Tech Disruption – Bloomberg: The maker of Mercedes-Benz cars is keen to shore up diesel, which powers many of its lucrative sport utility vehicles and big sedans as well as its…
- RPT-Hyundai Motor Q2 profit down 51 pct y/y, China, U.S. sales sag – Reuters: Hyundai Motor posted a 51 percent drop in net profit for the April-to-June period, missing analysts’ estimates, as political headwinds hit sales in China and U.S. sales decelerated.
- UK to ban sales of petrol, diesel-fuelled cars from 2040: media – Reuters: Britain’s government will announce on Wednesday that it will ban the sale of all petrol- and diesel-fuelled cars from 2040 as part …
- Daimler second-quarter EBIT lags despite record Mercedes-Benz sales – Reuters: Daimler’s (DAIGn. … Mercedes-Benz Cars sold 595,200 automobiles thanks to a 28 percent rise in demand in China, with …
- Hyundai Motors Q2 profit comes up short as China sales drop 64% – FT: Net income and operating profit at Hyundai Motors stopped well short of expectations in the second quarter as a sharp drop in China sales undercut…
- Hyundai Motor Warns of More Uncertainty as Profit Slumps – Bloomberg: Hyundai Motor Co. said its outlook remained clouded after second-quarter profit fell on weaker demand in China amid political tensions, while U.S….
- Hyundai Motor Reports 51 Percent Drop in 2Q Net Profit – New York Times: Hyundai Motor says its second-quarter net income plunged 51 percent over a year earlier as sales in China and the U.S. fell sharply. The South Korean automaker said Wednesday that its net income for the April-June period was…
- UK to Ban Fossil-Fuel Cars by 2040 as Automakers Race to Adapt – Bloomberg: The U.K. became the latest European country to mark the end of the line for diesel and gasoline fueled cars as automakers such as Volvo race to build…
- Australia consumer watchdog takes legal action against Ford – FT: The Australian Competition and Consumer Commission said on Wednesday it had initiated court proceedings against US automaker Ford’s Australian…
- Australian regulator takes legal action against Ford’s Australian unit – Reuters: The Australian consumer watchdog said on Wednesday it has started court proceedings against Ford Motor Co’s local unit, accusing the company of engaging in misleading or deceptive conduct when responding to customer complaints.
- UK plans to ban sale of new petrol and diesel cars by 2040 – FT: But Mr Gove’s hugely symbolic announcement will be seen as a milestone in the shift towards electric cars, which currently account for less than 1 per cent sold in Britain. It is part of a wider package of measures designed to help bring pollution …
- BRIEF-ACCC institutes proceedings against Ford Motor Company Of Australia – Reuters: Australian Competition and Consumer Commission
- Lyft teams up with Taco Bell while Uber doubles down on McDonald’s – CNBC: The ride-sharing battle is moving to the fast-food market.
- Meg Whitman is being considered for Uber CEO job – but probably won’t take it – CNBC: HP Enterprise CEO Meg Whitman is on the short list for Uber’s open CEO role, but HP says she’s not interested.
- Fiat Chrysler to lease facility in Michigan to serve production of new Jeep Wrangler – Freep: Fiat Chrysler Automobiles is leasing property in Bedford Township to serve production of the new version of the Jeep Wrangler in Toledo. Syncreon…
- Volkswagen Executive to Plead Guilty in Diesel Emissions Case – New York Times: … A Volkswagen executive accused of helping to cover up the automaker’s diesel … at Volkswagen’s Audi division, was arrested by German authorities in Munich.
- McLaren considers supplying carbonfibre tubs to other car makers – Autocar: McLaren’s South Yorkshire carbonfibre tub plant could allow the supercar maker to supply to other brands
- McLaren Q&A: boss Mike Flewitt on the firm’s future – Autocar: CEO talks about speculators, a Porsche 911 rival and the possibility of four-wheel drive
- New petrol and diesel car sales set to be banned in the UK from 2040 – Autocar: Government expected to unveil £3bn plan to tackle air pollution; older diesels may be subject to a scrappage scheme
- Texas Instruments Signals Growing Demand in Chips for Cars – Bloomberg: The company, which has about 100,000 customers, is benefiting as everything from cars to kitchen appliances gain new functions that require chips to…
- UK to Ban Sales of Petrol, Diesel-Fuelled Cars From 2040-Media – New York Times: LONDON – Britain’s government will announce on Wednesday that it will ban the sale of petrol- and diesel-fuelled cars from 2040 when all vehicles…
- As Emissions Scandal Widens, Diesel’s Future Looks Shaky in Europe – New York Times: A swell of forces that started with the Volkswagen emissions scandal is now engulfing … In September 2015, Volkswagen was accused of evading emissions … Diesel’s fuel economy also made it easier for BMW, Daimler and Audi to…
- Headwinds on the Horizon for the Rental Car Industry – Forbes: Like the retail industry, it appears that the rental car companies must face the reality that the industry needs to reduce capacity in order to survive the…
- BMW halts project talks after Daimler blew whistle: Sueddeutsche – Reuters: BMW (BMWG.DE) has suspended talks with Daimler (DAIGn.DE) on future cooperation projects after its rival disclosed alleged …
- Them’s fightin’ words: Musk hits back at Zuckerberg over AI comments – Guardian: Elon Musk. The Tesla and SpaceX CEO believes artificial intelligence poses a “fundamental risk to the existence of civilization”. Photograph: Ringo…
- Volkswagen executive charged in US emissions probe to plead guilty: court – Reuters: A Volkswagen AG executive charged in the automaker’s diesel emissions scandal plans to plead guilty on Aug. 4 in U.S. District Court in …
- BMW, Amazon Give Brexit Britain a Boost as Banks Eye Own Exit – Bloomberg:
- Daimler board to discuss alleged German auto cartel – sources – Reuters: Daimler’s supervisory board … Writing by Edward Taylor and Andreas Cremer; Editing by Mark Potter) …
- GM profit beats expectations, promises to cut high inventory – Reuters: General Motors Co (GM. … to cut production in the second half to curtail its burgeoning U.S. inventory of unsold vehicles. The No.
- Uber ties up with AXA for drivers’ accident cover in France – Reuters: Uber and insurance group AXA have joined forces in France to offer accident cover for drivers who work for the ride hailing service after it faced criticism over their treatment.