- Fiat Chrysler third-quarter earnings rise 13% – Automotive News: Fiat Chrysler said earnings rose 13 percent in the third quarter while reducing its forecast for how much cash it will have on hand at the end of the year.
- Fiat Chrysler’s net cash guidance cut overshadows special dividend pledge – Reuters: Fiat Chrysler (FCA) reported better-than-expected third-quarter earnings and promised to pay 2 billion euros ($2.3 billion) in special dividends, but a lowered net cash forecast and a charge related to U.S. diesel talks weighed on shares.
- Fiat Chrysler profits beat expectations thanks to sales in North America – FT: Profits at Fiat Chrysler beat expectations as record profits from its Jeep and Ram brands in its North American heartland offset losses racked up in China and Europe. The group posted a 38 per cent fall in net earnings in the third quarter to €564m …
- PayPal rival Adyen expands to Canada and picks up new customers including Adidas, Dollar Shave Club – CNBC: Adyen, the Dutch firm that processes payments for the likes of Facebook and Uber, is expanding to Canada and signing up a host of new firms to its client roster.
- Fiat Declares $2.3 Billion Extra Dividend, Plans Regular Payouts – Bloomberg: Fiat Chrysler recorded a 700 million euro charge for diesel issues, as well as a Justice Department investigation in the U.S. The company said the charge is an “estimate of provisions” it reported because of accounting guidelines and not “an admission …
- Fiat Chrysler reports Q3 earnings decline in anticipation of diesel fines – Detroitnews: In the first financial period since legendary Fiat Chrysler Automobiles NV CEO Sergio Marchionne died, the transatlantic automaker reported third-quarter earnings fell 38 percent in anticipation of a large financial hit related to a U.S. diesel …
- Germany’s Continental hires Byton’s Dirk Abendroth as chief tech officer – Reuters: ) – Continental said on Tuesday it had hired Dirk Abendroth, a former BMW executive now employed at Chinese carmaker Byton, to become chief technology officer at the German auto supplier’s Automotive division. Abendroth …
- Uber heads to court to appeal UK workers’ rights ruling – CNBC: Uber appeals a U.K. ruling that its drivers should be considered workers and therefore deserve to be entitled to a minimum wage and other benefits.
- Bentley becomes latest carmaker to warn of no-deal Brexit damage – Guardian: If London and Brussels fail to reach an agreement by the end of the year, Bentley may stockpile more components and close its factory for a few extra days, said Hallmark, who joined Bentley from Jaguar Land Rover in February. The majority of key …
- Fiat Chrysler to pay 2 bln euros in special dividends after Magneti sale – Reuters: Fiat Chrysler (FCA) reported better-than-expected third-quarter earnings and promised to pay 2 billion euros ($2.27 billion) in extraordinary dividends using proceeds from the Magneti Marelli sale, pushing shares up more than 1 percent.
- A Chinese Auto Tax Cut Wouldn’t Solve the Car Industry’s Big Problems – New York Times: And President Trump’s threat to impose a 25 percent levy on European-made vehicles remains a dark cloud: BMW and Daimler would be hit hard, with 71 percent and 62 percent, respectively, of their U.S. sales produced in European factories, according to …
- BRIEF-Zhuzhou Crrc Times Electric Announces Establishment Of A JV Co – Yahoo: Oct 30 (Reuters) – Zhuzhou CRRC Times Electric Co Ltd : * ANNOUNCES ESTABLISHMENT OF A JOINT VENTURE COMPANY. * JV COMPANY WILL HAVE A REGISTERED CAPITAL OF RMB500 MILLION. * ZHUZHOU-CO, CHONGQING CHANGAN, CSG …
- Uber defends its business model over UK worker rights – Reuters: Uber defended its business model at the Court of Appeal on Tuesday in the latest stage of a long-running battle over the classification of its drivers as self-employed, a designation that entitles them to few workplace rights in Britain.
- Jaguar reveals its vision of an electrified future in sketches – Autocar: An imagination of what Forton Services on the M6 could look like Images depict how rural and urban spaces could look different in the coming years Jaguar has revealed four sketches, in partnership with architect firm Barr Gazetas, that predict how the…
- Toyota, Pizza Hut want to deliver fresh-cooked pies in autonomous pickup – Automotive News: As part of the restaurant’s latest partnership with Toyota Motor Corp., Pizza Hut has unveiled a robot-operated mobile pizza factory in the bed of a modified Toyota Tundra. The prototype will use automated technology to cook pies on-the-go in six to …
- Engine maker Cummins beats profit on strong truck demand – Reuters: U.S. engine-maker Cummins Inc beat Wall Street estimates for quarterly profit on Tuesday, boosted by strong demand for heavy trucks in a booming global construction market.
- Johnson Controls said to be near deal to sell battery business – Automotive News: Johnson Controls International is nearing a deal to sell its power solutions business, which makes car batteries, to Brookfield Asset Management Inc. for $13 billion-$14 billion, people familiar with the matter told Reuters.
- Ford wows Vegas with Carbon Series GT supercar, mod trucks – Detroitnews:
- AutoNation increases net income 15%, invests in online retailer Vroom – Automotive News: AutoNation’s third-quarter net income rose on gains in the company’s parts and service, used-vehicle and FandI businesses. The dealership group also announced a strategic investment in online used-car retailer Vroom.
- Volkswagen reviewing autonomous car alliances, Waymo seen as a leader – Automotive News: Volkswagen CFO Frank Witter said the carmaker was open to deeper alliances with outside companies, particularly in the area of autonomous driving, where Google’s Waymo is seen to be an industry leader.
- U.S. engine-maker Cummins posts 53 pct jump in quarterly profit – Reuters: Cummins Inc reported a 53 percent jump in quarterly profit on Tuesday, driven by strong demand for its diesel and natural gas engines.
- AutoNation profit rises 15 pct on higher sales of used vehicles – Reuters: AutoNation Inc reported a 15 percent jump in quarterly profit on Tuesday, as higher demand for used vehicles helped the largest U.S. auto retail chain offset declines in new vehicle sales.
- Ex-Audi CEO to be released, over 4 months after arrest – Detroitnews: Rupert Stadler was arrested in an investigation into the manipulation of diesel emissions controls
- VW reviewing autonomous car alliances, Waymo seen as a leader – Automotive News: FRANKFURT – Volkswagen CFO Frank Witter said the carmaker was open to deeper alliances with outside companies, particularly in the area of autonomous driving, where Google’s Waymo is seen to be an industry leader. “It remains to be seen whether …
- UPDATE 3-VW rides out impact of new pollution rules on car sales – CNBC: By Edward Taylor. FRANKFURT, Oct 30 (Reuters) – Volkswagen posted forecast-beating third quarter profit, weathering a storm of lower car sales, higher spending and new pollution rules which dented earnings at rivals Daimler and BMW. Carmakers across …
- Hyundai to relocate 300 workers from truck production line – Yonhap: SEOUL, Oct. 30 (Yonhap) — South Korea’s top automaker, Hyundai Motor Co., said Tuesday it will relocate around 300 workers from its truck production line, due mainly to the falling demand for such vehicles from the weakening construction industry …
- These Companies Think the Next Big Thing Is Very Tiny Cars – Bloomberg: A crowd of engineers has rolled out itty-bitty designs at other startups, motorcycle makers and even the skunkworks of automotive giants Renault SA and Toyota Motor Corp. U.S. drivers are deep in the grip of SUV fever at the moment, but that doesn’t …
- Former Audi CEO Rupert Stadler released from custody – Automotive News: A Munich court said former Rupert Stadler, who is being investigated for his role in Volkswagen’s emissions cheating scandal, had been released from custody.
- VW 3rd-quarter profit falls 19% as anti-pollution rules bite – Automotive News: VW Group was weighed down by weaker vehicle sales and headwinds tied to the introduction of more stringent WLTP emissions rules in Europe.
- Elon Musk says he deleted his Tesla titles ‘to see what would happen’ – CNBC: Tesla Chief Executive Officer Elon Musk took to Twitter on Monday, saying he deleted his Tesla titles last week to see what would happen, without …
- Luxury in a pickup: Massaging seats, alligator-patterned leather – Freep: Pickups aren’t just for hauling stuff from A to B any more. Now automakers offer the kinds of trappings once the domain of luxury sedans.
- How luxurious can pickups get? – Freep: Pickups aren’t just for hauling any more. So-called luxury pickups offer everything from special badging and supple leather to massaging seats. Luxury truck prices can reach almost $70,000 or more.
- Tech Mahindra second-quarter profit jumps over 27 percent, tops estimates – Reuters: Software services exporter Tech Mahindra Ltd posted a better-than-expected 27.3 percent rise in second-quarter net profit on Tuesday, as it clocked more deals in the July-September period.
- Munich court says former Audi CEO released from custody – Reuters: ) – A Munich court on Tuesday said former Audi Chief Executive Rupert Stadler, who is being investigated for his role in Volkswagen’s (VOWG_p.DE) emissions cheating scandal, had been released from custody. Earlier this month …
- VW Shares Rise as Results Defy New Emission Tests: Street Wrap – Bloomberg: Volkswagen AG reported solid third-quarter results, surprising investors who were expecting earnings to be hurt more by the new WLTP emission-testing system at the carmaker, which has been among the most vocal companies about the setup’s negative …
- German national coalition will remain despite regional losses – Economy Minister – Reuters: German Economy Minister Peter Altmaier told a newspaper that the national ruling alliance would stick together despite Chancellor Angela Merkel’s Christian Democrats and their Social Democrat (SPD) coalition partner suffering losses in a regional poll.
- Car drags, kills pedestrian in Chatham hit and run – Chicago Tribune:
- What to Watch: Earnings from Volkswagen, Lufthansa and BP, plus buyout of Wagamama – Yahoo: Shares in Volkswagen (VOW3.DE) surged as much as 5% in early morning trading after the German auto giant reported better-than-expected earnings and reaffirmed that it would hit its annual financial targets. Volkswagen’s stock was the biggest gainer on …
- Honda profit surges 40% on more profitable mix and cost cutting – Automotive News: Honda reported a 40 percent surge in operating profit in the most recent quarter as a more profitable sales mix and aggressive cost cutting offset foreign exchange rate losses.
- Volkswagen reviewing autonomous car alliances, Waymo seen as a leader: CFO – Reuters: FRANKFURT (Reuters) – Volkswagen Chief Financial Officer Frank Witter on Tuesday said the carmaker was open to deeper alliances with outside companies, particularly in the area of autonomous driving, where Google’s Waymo is seen to be an industry …
- VW reviewing autonomous car alliances, Waymo seen as a leader -CFO – Reuters: Volkswagen Chief Financial Officer Frank Witter on Tuesday said the carmaker was open to deeper alliances with outside companies, particularly in the area of autonomous driving, where Google’s Waymo is seen to be an industry leader.
- VW operating profit drops as anti-pollution rules bite – Reuters: poll of banks and brokerages. It affirmed on Tuesday its target for 2018 …
- We Are Keeping Our Forecast for the Full Year, Says Volkswagen’s CFO – Bloomberg: Frank Witter, chief financial officer at Volkswagen, discusses third-quarter earnings, his outlook for the year, the U.S. trade war with China, the importance of China to their business, their production forecast, production in the U.S., regulation for …
- Woman seriously injured in three-vehicle crash – Yahoo: A woman has been airlifted to hospital with serious injuries following a three-vehicle crash on a country road. A white Ford Transit van, a silver-coloured Peugeot 206 and a white Renault Master van were involved in the collision on the A701 road at …
- Suzuki PH Donates 16 vehicles to ABS-CBN Lingkod Kapamilya Foundation – Yahoo: Suzuki Philippines, Inc. (SPH) upholds its commitment of improving the lives of Filipinos nationwide by working yet again with ABS-CBN Lingkod Kapamilya Foundation, Inc. (ALKFI) wherein SPH donated 16 vehicle units for use in two of ALKFI’s flagship …
- Volkswagen operating profit drops as anti-pollution rules bite – Reuters: Volkswagen reported a smaller than expected 18.6 percent drop in third-quarter adjusted operating profit, boosting its shares despite weaker vehicle sales tied to the introduction of more stringent anti-pollution rules.
- UPDATE 2-VW operating profit drops as anti-pollution rules bite – CNBC: The carmaker’s adjusted operating profit came to 3.51 billion euros ($4 billion) in the three months through September, better than the 3.21 billion euros predicted in a Reuters poll of banks and brokerages. It affirmed on Tuesday its target for 2018 …
- Exclusive – Bentley warns worst case no deal Brexit would hit profitability, investment – Reuters: The boss of carmaker Bentley said failure to reach a Brexit deal would be quite damaging to annual profit in the worst case scenario, limit the company’s ability to invest and could lead to its plant closing for an additional few days.
- Volkswagen profits hit by China slowdown, new Europe regulations – FT: Profits at Volkswagen fell 18.6 per cent in the third quarter, weighed down by disruption from a Chinese slowdown and new testing regulations in Europe. The German carmaker, which owns Audi, Porsche, Skoda and Seat, saw operating profit before special …
- VW third-quarter adjusted operating profit drops 18.6 percent as anti-pollution rules bite – Reuters: ) – Volkswagen reported an 18.6 percent drop in third-quarter adjusted operating profit, weighed down by weaker vehicle sales and headwinds tied to the introduction of more stringent anti-pollution rules. The carmaker’s adjusted …
- Hard Times Ahead For Elon Musk, The Man Who Wants To Transform The World With Science And Technology – Yahoo: Elon Musk is quite a passionate person and his company Tesla, which was established in the year 2003, is trying to bring in fully-electric vehicles in the market to combat the drawbacks of the Motor vehicles used today. In one of his recent interviews, …
- Volkswagen: Net income for Q3 comes in at 2.7 billion euros vs. 2.29 billion euros expected – CNBC: German carmaker Volkswagen beat forecasts after it reported stronger-than-expected net profit for the third quarter this year. The company posted a net profit of 2.7 billion euros in the third quarter of 2018. Analysts were expecting a net income of 2 …
- Volkswagen Sticks to Full-Year Guidance on Robust Porsche Result – Bloomberg: News reported China may halve vehicle sales tax. The incentive would offer a leg up for a critical market as the industry grapples with trade barriers and the shift to …China Regulator to Propose 50% Cut to Car Purchase Ta
- China’s Proposed Car-Tax Cut Brings Relief to Investors, Dealers – Bloomberg: China’s Proposed Car-Tax Cut Brings Relief to Investors, Dealers … tax cut to revive the flagging market, people familiar with the matter told Bloomberg News. … Passenger-vehicle sales in China rose 3.3 percent in September 2015.
- Honda beats expectations with 40 percent operating profit jump for second-quarter – Reuters: Honda Motor Co reported on Tuesday a 40.2 percent jump in second-quarter operating profit due to higher motorcycle sales in Asia and cost reductions, and as the year-ago earnings were hurt by pension accounting changes and litigation settlements.
- Car-Share Market That Eluded BMW, Audi Lures Japanese Dark Horse – Bloomberg: Daimler AG, Audi, and BMW AG have all seen their ambitions crushed in Stockholm, a city that’s gaining notoriety as one of the toughest car-sharing markets in the world. Even so, a Japanese trading company with zero experience in the sector is betting …
- Morgan to reinvent itself with high-performance sports car – Autocar: Design sketches mix traditional Morgan cues with a new look All-new two-seat coupe? and roadster are under way to take Morgan into the future Morgan is working on an all-new high-performance sports car flagship that will both reinforce its reputation…
- James Ruppert: why you need a Volkswagen Beetle – Autocar: £7k will buy a 2013 1.2 version of the newer new Beetle A born-again, now died-again, Volkswagen Beetle can be a cheap buy Motorshows. Not as exciting for me as they once were. I can handle the new technology and promises that we will be…
- UK Gig Economy Faces Biggest Test as Uber Heads to Court – Bloomberg: Just months after Uber Technologies Inc. persuaded a London judge to allow it to keep operating in the city, the ride-hailing company is back in court.
- Carmakers’ China Tax Joy Will Be Short-Lived – Bloomberg: News reported, citing people familiar with the matter. Shares of Chinese and global carmakers from Geely Automobile …China Regulator to Propose 50% Cut to Car Purchase Tax
- Self-driving cars expected to shake up insurance industry – Detroitnews: Ann Arbor – Insurers are bracing for change as they plan for a future with self-driving cars. Although the hope is that autonomous vehicles will decrease traffic incidents and improve road safety, it could take years before the benefits of expensive …
- Hints From Heloise: Insurance indications – Washington Post: Dear Readers: Do you know what goes into determining the insurance premium for your auto insurance? Surprise! One factor may be your credit …
- Geely-Volvo venture introduces latest ‘connected’ vehicle – Nikkei: TOKYO — The Chinese-Swedish venture Lynk & Co has rolled out a new “connected car” featuring always-on internet, dedicated smartphone apps for vehicle management, and functions to facilitate carsharing. The venture — between Zhejiang Geely Holding …
- China automakers jump on tax cut report – FT: China’s top economic planning body is said to be proposing cutting the purchase tax from 10 per cent to 5 per cent for cars with a 1.6 litre capacity engine or less, according to a report from Bloomberg. The country’s car market is expected to post its …
- Toyota, TRI-AD, and Tokio Marine & Nichido Fire Insurance to Establish Business Alliance to Develop Advanced Automated Driving Technology – Toyota: Toyota Motor Corporation (Toyota), Toyota Research Institute-Advanced Development, Inc. (TRI-AD), and Tokio Marine & Nichido Fire Insurance Co., Ltd. (Tokio Marine & Nichido) announce their agreement to establish a business alliance to develop advanced…
- Top Chinese Online Brokers Prepare to Face Off in US Market – Bloomberg: … from Chinese companies, ranging from video-streaming site iQiyi Inc.’s $2.4 billion share sale to electric-car maker Nio Inc.’s $1.2 billion offering.
- Nissan returns to SEMA with five unique vehicles – Autocar: Three-time Formula DRIFT Champion Chris Forsberg’s instantly recognisable Nissan 370Z is also taking time off the racing circuit to make an appearance at the Nissan SEMA display. With a twin-turbo VQ engine tucked under the carbon fibre body panels, …
- Elon Musk Again Stirs Confusion on Twitter, This Time About His Title – WSJ: Elon Musk took to Twitter on Monday with messages that sowed confusion about his official role at Tesla Inc., TSLA 1.19% a month after a settlement …
- PIMS 2018: You’ll Have to Wait to Get Your Hands on the BMW M2 Competition – Yahoo: If you were at the recently-concluded Philippine International Motor Show, on display at BMW Philippines’s pavilion was a pair of BMW M models-the M2 and the M5. Both cars are no slouch in their respective segments, but just in case you’re thinking the …
- Uber goes to court to defend business model over UK worker rights – Reuters: Uber heads to a British court on Tuesday to defend its business model of treating drivers as self-employed, entitling them to few rights in law, in the latest stage of a long-running battle at the taxi app.
- Uber driver accused of raping a minor declared a fugitive after missing court date – Latimes: A Huntington Beach Uber driver charged with raping a 17-year-old girl was declared a fugitive after failing to appear in court Wednesday, Orange …
- Musk Keeps Testing the Limits That the SEC Put on His Tweeting – Bloomberg: Tesla Inc.’s Elon Musk continues to flirt with trouble on Twitter. The chief executive officer posted on Monday that he had deleted all references to the …
