- 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.
- Uber’s Deep Losses Will Make Investors Question Whether This Time Is Different – Bloomberg: The electric car company said this week that it generated a $494 million adjusted loss last quarter and that it may seek to raise more capital. The stock …
- Uber Outlines First-Quarter Results After Cutting Valuation Target – WSJ: Uber Technologies Inc. moved its target valuation lower, setting a range of about $80 billion to $90 billion for its initial public offering, and gave hungry …
- Uber Aims to Top $80 Billion Valuation in Year’s Largest IPO – Bloomberg: Uber Aims to Top $80 Billion Valuation in Year’s Largest IPO … Uber Technologies Inc. is seeking to raise as much as $9 billion in an initial public offering … In March, ride-hailing rival Lyft Inc. raised $2.34 billion in its IPO — the year’s …
- Daimler Q1 profit hurt by higher costs, drop in deliveries – Automotive News: Daimler’s first-quarter operating profit fell 16 percent, weighed down by a 4 percent drop in sales of Mercedes cars, higher raw material costs and investments into its heavy trucks division.
- Three Months Into Construction, Tesla China Plant Takes Shape – Bloomberg: The factory will help Tesla to avoid the current 15 percent tariff on imported cars from the U.S., making its pricing more competitive against local brands …
- Aston Martin to reveal manual Vantage AMR imminently – Autocar: Aston will revive its racing-inspired special with a manual gearbox, expected to be shown in the coming days Aston Martin has previewed a new manual gearbox ‘AMR” variant of the latest Vantage sports car, set to be revealed within the next week. AMR,…
- Uber valued as high as $83.8 billion after setting price range for shares – CNBC: PayPal is also investing $500 million in Uber.
- American start-up launches electrified classic Ford Bronco – Autocar: Zero Labs’ re-engineered 1965 4×4 offers a 500% power increase and a five-speed manual gearbox California-based EV start-up Zero Labs Automotive has unveiled a re-engineered classic Ford Bronco with an electric powertrain. The electric version of the…
- PSA shuffles top engineering, tech jobs after Le Borgne quits – Automotive News: Starting in 1997, he led development of group platforms for small cars including the Peugeot 107 and 207, and the Citroen C2 and C3. In 2008 he was …
- Shortcuts: London car rental app, Fête des Vignerons and Changi’s Jewel opens – FT: City dwellers targeted in Land Rover rentals; Switzerland gears up for once-in-a-generation festival; and Singapore airport’s Rain Vortex and forest.
- Travis Kalanick stands to make nearly $9 billion from Uber’s IPO – CBS News: Although it’s been more than a year since Travis Kalanick ran Uber, he’s in line for a … Kalanick, who founded Uber in 2009, remains on the company’s board. … Drivers for Uber and rival Lyft are planning a 24-hour work stoppage on …
- Ford expects improved earnings in Europe after Q1 profit – Automotive News: Ford’s European profits were buoyed by improvements in its successful commercial vehicle lineup, which includes the Transit range and the Ranger …
- Tesla Model 3 UK orders set to open in May – Autocar: Tweet from Elon Musk reveals when UK customers can get in line for Tesla’s compact saloon Tesla is preparing to open UK order books for the Model 3, according to company CEO Elon Musk. In a tweet, Musk said the online order page would open “around May…
- Daimler Earnings Slump as Weaker China Sales Hits Mercedes – WSJ: Daimler on Friday said profits at the Mercedes-Benz car division, the company’s biggest, were hit by a 3% drop in China sales and an increase in the …
- Luxury Ride-Hailing Startup Picks London Over Moscow for New HQ – Bloomberg: Luxury ride-hailing app Wheely has relocated its headquarters to London ahead of Britain’s departure from the European Union, the latest signal that …
- Toyota, Kenworth Expand Fuel Cell-Based Heavy Truck Fleet – Detroit Bureau: Toyota and Kenworth have launched a new generation of zero-emission trucks powered by fuel cells that will operate in and around the sprawling Port of Los …
- How to Invest in Tesla While Avoiding the Elon Musk Drama – Barrons: Investing in Tesla can be a wild ride. Tesla stock (TSLA) has been buffeted by disappointing car deliveries, steeper first-quarter losses than Wall Street …
- Renault hires investment bank to put merger plan to Nissan – FT: Renault’s double snub comes as relations between the French carmaker and its alliance partner, Nissan sink to new lows, say people close to both …
- China Property Developer Eyes Deals in Quest to Dominate Electric Vehicles – Bloomberg: China Evergrande Group, a property developer that has ambitions to dominate the global electric-vehicle industry, has approached two Dutch truck-and-bus …
- Continental Pushes Ahead With Powertrain IPO as Profit Drops – Bloomberg: Continental’s operating profit dropped 17 percent to 884 million euros as global car production declined more than 6 percent even as demands to …
- Continental delays powertrain IPO to 2020 as profits drop 17% – Reuters: Continental AG will push back the spin-off of its … operating profit, hit by a downturn in car demand and higher investments.
- Denso profit drops 23% on increased investment, market slowdown – Automotive News: Denso reported a 23 percent decline in operating profit for the latest fiscal year amid rising investment costs and a market slowdown in Europe and China.
- Valeo’s shares rise as car parts group expects improvement in H2 – Reuters: Shares in French car parts company Valeo rose more than 3 percent in early trade on Friday, as investors and analysts …
- Daimler Q1 hurt by China slowdown, raw material costs – Reuters: Daimler’s first-quarter operating profit fell 16 percent despite a 718 million euros one-off gain, it said on Friday, as a …
- Renault sticks to 2019 goals despite overseas sales slump – Reuters: Renault clung to full-year targets on Friday as it posted a 4.8 percent drop in first-quarter revenue amid a decline in overseas sales and business with its alliance …
- Suzuki cuts full-year profit forecast on vehicle recall – Reuters: Suzuki Motor Corp on Friday cut its forecast for full-year operating profit by 7.4 percent as the Japanese compact car manufacturer expects to take a hit from a …
- Renault presses ahead with Nissan merger proposal despite rejection – Nikkei: The French government will hold 7% of a merged Nissan Motor and Renault, under a holding company structure to be proposed.
- Renault Confirms Targets as European Sales Cushion Slowdown – Bloomberg: Renault SA reiterated its goals for 2019 even as first-quarter sales slumped following the automaker’s decision to stop selling cars in Iran last year.
- Renault hit by Iran withdrawal as quarterly sales drop 5 per cent – FT: Renault reported a decline in revenue and unit sales in the first quarter after withdrawing from Iran, weakness in some emerging markets and currency …
- Falling Mercedes Sales Hits Daimler – Bloomberg: Daimler First Quarter Ebit Meets Estimates; Daimler inked a deal last month to fold its troubled Smart mini-car marque into a joint venture with its …
- Daimler Q1 weighed by China slowdown – Reuters: Daimler said its first-quarter operating profit fell 16 percent, weighed down by a 4 percent drop in sales of Mercedes-Benz cars, higher raw material costs and …
- Russia’s Yandex says it’s learning lessons from Lyft for its own ride-hailing IPO – CNBC: Russian tech giant Yandex is still planning an initial public offering for its ride-hailing business, and it’s not been deterred by Lyft’s struggling stock, according to a top exec.
- New McLaren GT car to be “more differentiated” than 570GT – Autocar: McLaren boss claims new Grand Tourer will be more of a bespoke model, and details the firm’s hybrid and electric plans McLaren will launch a new “rule-breaking” grand tourer in May with more of a bespoke look and feel than the 570GT, according to the…
- RPT-UPDATE 2-Uber to kick off investor road show with IPO terms on Friday – Reuters: Ride-hailing company Uber Technologies Inc will unveil terms for its initial public offering on Friday, telling investors it will seek to be valued at between $80 billion and $90 billion, according to people familiar with the matter.
- PayPal to invest $500 million in Uber: Refinitiv IFR – Reuters: Online payments company PayPal Holdings Inc plans to invest $500 million in Uber Technologies Inc as the ride-hailing firm readies to unveil terms for its initial public offering on Friday, Refinitiv IFR reported.
- Ford Earnings Slide – But Still Exceed Expectations – Detroit Bureau: Ford Motor Co. saw first-quarter earnings slide by more than a third during the first quarter – but the number still managed to handily exceed Wall Street’s …
- Citron’s Left says he is no longer long or short on Tesla – Reuters: Citron Research Founder Andrew Left is no longer long or short on Tesla Inc, he said in an emailed statement on Thursday.
- Mopar will celebrate Hemi Day with 1,000-horsepower ‘Hellephant’ engine – Freep: FCA’s Mopar brand is launching preorders of its 1,000-horsepower “Hellephant” 426 Supercharged Crate Hemi.
- Prominent Short-Seller Gives Up on Being a Tesla Bull – Bloomberg: Tesla Inc.’s Chief Executive Officer Elon Musk has been in a legal dispute over how he posts news about his electric-car company. On Thursday, Musk …
- Japan resists US pressure on FX in trade talks ahead of Abe-Trump summit – Reuters: Japan is resisting increasing U.S. … the United States – much of it from auto exports – and wants a two-way deal to …
- Sri Lankans urged to avoid mosques, churches amid fears of more attacks – Reuters: Muslims in Sri Lanka were urged to pray at home on Friday and not attend mosques or churches after the State Intelligence Services warned of possible car bomb attacks, amid fears of retaliatory violence for the Easter Sunday bombings.
- Toyota is building a Japanese Nürburgring – Autocar:
- Finley: How the Waymo plant ended up in Detroit – Detroitnews: Detroit’s landing of a Waymo driverless car plant is billed as a victory by the Motor City over Silicon Valley. But the real competition for the Google …
- Porsche to bring back the 928? – Autocar:
- Elon Musk, SEC Standoff Over Tweets Continues – WSJ: Elon Musk and the Securities and Exchange Commission want more time to work out their dispute over whether the Tesla Inc. TSLA -4.26% chief …
- NASA safety panel urges patience with SpaceX mishap probe – CBS News: SpaceX is still in the process of collecting and analyzing recorded data, high-speed imagery and recovered hardware in the wake of a catastrophic …
- Japan economy minister says forex wasn’t a topic at US trade talks: Jiji – Reuters: Japanese Economy Minister Toshimitsu Motegi said on … there was no demand from the United States regarding auto import restrictions, …
- Musk, SEC Ask for More Time to Settle Fight Over Tweets – Bloomberg: The SEC said Musk violated that agreement when he tweeted in February that Tesla would make about half a million cars in 2019. He corrected that a …
- Tesla’s Elon Musk, SEC again ask for more time to reach deal over CEO’s Twitter use – Reuters: Tesla Inc Chief Executive Elon Musk and the U.S. Securities and Exchange Commission on Thursday sought a second delay and requested to provide the court another joint submission on or before April 30, indicating whether they have reached an agreement…
- Uber Lowers Its Valuation Target – WSJ: Uber Technologies Inc. ratcheted down its target valuation to a range of about $80 billion to $90 billion for its initial public offering, according to people …
- Uber, Didi slam Mexico City’s new rules on ride-hailing, including cash ban – Reuters: Uber, Didi Chuxing and other ride-hailing firms on Thursday criticized a host of new regulations of the sector in Mexico’s capital city, which include a ban on cash fares that could exclude many potential customers who lack bank accounts.
