Archives for April 2019

• Carlos Ghosn Rang Up $12 Million in Suspect Expenses, Audit Finds – WSJ: The audit of a Renault-Nissan joint venture, a summary of which was viewed by … In addition to the expenses at the joint venture, Nissan has been …
• Overall sales weakness weighs on GM in 1st quarter – Washington Post: Americans paid more for some GM vehicles in the 1st quarter, but overall sales fell and the automaker missed Wall Street’s expectations.
• GM doubles Q1 net income; operating profit falls – Automotive News: General Motors’ first-quarter net income doubled from a year earlier, though operating profit fell 11 percent primarily due to downtime at the company’s full-size SUV plant in Texas. GM reported net income of $2.15 billion, up from $1.04 billion in the…
• Uber looks almost nothing like Amazon despite what it plans to tell Wall Street – CNBC: Uber’s effort to draw a comparison to Amazon is unlikely to convince investors who can clearly see where the analogy falls apart.
• GM Rides Boost From Lyft`s IPO to Better-Than-Expected Profit – Bloomberg: General Motors Co.’s first-quarter profit got a boost from the initial public offering of ride-hailing company Lyft Inc. which helped the largest U.S. automaker beat …
• General Motors first-quarter profit rises, beats Wall Street estimates – Reuters: General Motors Co on Tuesday reported a higher quarterly net profit, lifted in part by revaluation of shares the company holds in ride-hailing company Lyft Inc …

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• Alphabet Margins, Expenses Key for Earnings as Stock Eyes Record – Bloomberg: Shares of Google parent Alphabet Inc. could return to record levels if first-quarter results Monday afternoon show that the company’s margins are …
• Tesla says may seek alternative financing sources – Reuters: Tesla Inc said on Monday it could seek alternative financing sources although it expects cash generated from its business would be enough to fund its …
• Renault refreshes van lineup – Automotive News: Including Jinbei sales, Renault Group global light-commercial vehicle … head of light-commercial vehicles for the Renault Nissan Mitsubishi alliance.
• France Takes Trip to US to Drum Up Money for Venture Capital – Bloomberg: this month car sharing platform Drivy SAS sold itself to San Francisco-based Getaround for $300 million.
• Tesla Faces Steeper Costs to Raise Cash – WSJ: Tesla has plenty of options for raising money, but it is getting more expensive to do so, say analysts and investors.
• BYD Q1 profit surges 632 pct on booming NEV sales – Xinhuanet: BYD, China’s leading new energy vehicle (NEV) manufacturer, reported a year-on-year 632 percent increase in net …

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• DoJ opens probe into Ford’s emissions certification process – Reuters: Ford Motor Co said on Friday the U.S. Department of Justice had opened a criminal investigation into the automaker’s emissions certification process in the …
• Uber dials back expectations as its preps for massive IPO – CBS News: Ride-hailing giant Uber seems to be underpromising in hopes of overdelivering when it goes public as early as next month. The company said in a …
• Trump’s tariff threats on autos are stoking fears of a German recession – CNBC: In February, Trump said he would impose tariffs on cars imported from the … analysts at Commerzbank said the chances of a trade deal that satisfied both … probably at rates of 25% – on imports of autos and auto parts from the EU,” …
• Uber sets $44-$50 per share price for IPO, posts $1 billion first-quarter loss – Reuters: Ride-hailing company Uber Technologies Inc unveiled terms for its initial public offering on Friday, telling investors it would seek to sell as much as $10.35 billion in stock at a valuation of up to $91.5 billion.
• Renault to propose joint holding company with Nissan: sources – Mainichi: Renault SA will soon formally propose to its partner Nissan Motor Co. a merger of the two firms under a joint holding company, source.

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• Ford Joining Amazon Investing in Electric Truck Maker Rivian – Bloomberg: Ford Motor Co. will invest $500 million in Rivian Automotive Inc., aligning the maker of the industry-leading F-Series pickup line with an upstart looking to …
• The Tesla Twitter war, charted – FT: If Tesla’s share price is a war, Twitter is the battleground. The conflict pits Tesla’s celebrity chief executive and its shareholders, who tend to tag their tweets with …
• Tesla troubles expected to grow with Q1 report – Automotive News: Tesla’s first-quarter financial forecast have been lowered sharply by analysts in recent weeks, especially after disappointing delivery numbers were announced earlier this month.
• U.S. car tariffs alone would have limited impact on EU, central bank says – Automotive News: The immediate impact of such levies would be small even though escalating trade tensions could have grave consequences for the global economy, a study concludes.
• Hear how Toyota is winning in Europe with hybrids – Automotive News: Matthew Harrison is driving sales of Toyota vehicles in Europe as the automaker reaps the benefits of being an electrification leader in the region. Harrison will …

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• China to support hydrogen and fuel cell vehicles to go green – Reuters: Japan’s Toyota Motor Corp plans to supply fuel cell components to China’s commercial vehicle makers after launching a joint research institute with …
• Nissan says senior executive Schillaci to leave amid reshuffle – Reuters: Japan’s Nissan Motor Co on Tuesday said the executive responsible for its Nissan, Datsun and Infiniti brands was leaving, as it announced a management reshuffle to strengthen governance following the ouster of former boss Carlos Ghosn.
• Didi Dominates Ride-Hailing in China but Still Loses Money on Each Trip – WSJ: While Didi dominates China’s ride-hailing market, it is still investing to attract new users and drivers. Didi has also spent heavily on new safety …
• Musk boasts Tesla has ‘best chip in the world,’ but Nvidia begs to differ – Automotive News: Tesla said it started equipping its vehicles with a self-driving computer designed in-house and transitioned away from chips supplied by Nvidia.
• German prosecutors probe bonus payments to suspended VW manager – Reuters: German prosecutors are investigating a possible breach of fiduciary duty by Volkswagen over bonus payments made to an executive who was suspended over the carmaker’s emissions cheating scandal.

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• Tesla gears up for fully self-driving cars, but critics call it hype – Detroitnews: Company is set to show off technology to push vehicles closer to full autonomy Monday
• Tesla downgraded at Evercore on slowing demand across all models – CNBC: Evercore downgraded Tesla to “underperform” from “in-line” on Monday, citing concerns on the decline in demand for the electric cars across all models.
• Telsa Talks Self-Driving Cars, Earnings Heat Up, and More to Know on Stocks for Monday – Barrons: Don’t forget, Tesla (TSLA) hosts an investor event to review its autonomous … Halliburton reported 23 cents in adjusted earnings per share and $5.7 …
• Tesla’s Musk takes on Panasonic in a rare public battle with a key supplier – Latimes: Elon Musk has engaged in Twitter spats with a long line of folks, from rival automakers to short sellers and the Securities and Exchange Commission.
• Musk takes on key supplier Panasonic in rare public battle – Automotive News:

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