- Porsche to pay 535 million euro fine over diesel affair – Reuters: German prosecutors have imposed a fine of 535 million euros ($598.99 million) on German luxury carmaker Porsche AG for neglecting supervisory obligations linked to diesel emissions cheating, they said in a statement on Tuesday.
- VW Porsche Unit Accepts $599 Million Fine in German Diesel Probe – Bloomberg: Volkswagen AG’s Porsche unit settled with Stuttgart prosecutors, agreeing to pay 535 million euros ($599 million) to end a probe into misconduct related to the …
- BorgWarner to take 20 percent stake in battery packs supplier Romeo Power – Reuters: BorgWarner Inc said on Tuesday it would take a 20 percent … auto parts maker looks to expand its products portfolio for electric vehicles.
- Consumers apply the brakes to UK new car sales – Guardian: Analysts blame Brexit uncertainty as April data shows 10% fewer private sales than last year.
- Lyft has been a train wreck of a stock. Now it’s about to report its first big earnings loss – CNBC: Lyft shares are down 30% since its trade debut, and now the rideshare firm is preparing for another first: earnings as a public company. While its path to profits is still a long one, it will need to show investors revenue growth and cost-cutting.
- Ford, Vauxhall lose in UK market down 4% in April – Automotive News: UK new-car registrations fell 4.1 percent to 161,064 in April, dragged down by weak demand from consumers worried about the future of diesel …
- Strike by Uber and Lyft drivers Wednesday has potential to disrupt travel for thousands – Washington Post: Riders should anticipate surge pricing and longer wait times due to a … As the ride-hailing services have expanded, they also have become critical for …
- Uber issues its IPO this week. Tomorrow its drivers are threatening a worldwide strike. – Washington Post: London Mayor Sadiq Khan supported levying an additional fee on ride-hailing drivers to reduce air pollution, although the move is being challenged in …
- Ferrari sticks to FY targets after first quarter core profit up 14 percent – Reuters: Italian luxury carmaker Ferrari confirmed its full-year targets after core earnings rose 14 in the first quarter, driven by a strong performance of its Portofino model.
- Billionaire Jokes ‘I Have No Money’ as He Sells Art, Lends Stock – Bloomberg: … into everything from Basquiat paintings to a Hermès-upholstered private jet and a down payment for a ride on Elon Musk’s rocket around the moon.
- How GM suppliers are coping with Oshawa plant ending production – Automotive News: Some suppliers began diversifying a decade ago, right after GM`s bankruptcy. Product mixes help suppliers better withstand plant closures and consolidation by automakers.
- Western European car sales fell 1 percent in April: LMC – Reuters: Western European car sales fell 1 percent in April, according to industry data published on Tuesday, as the unresolved terms of …
- New Volkswagen ID: new images of electric hatch leak – Autocar: Volkswagen will introduce its first purpose-built electric car early next year; prototypes show design is closely linked to the concept Fresh images of the all-electric Volkswagen ID hatch, showing the car in a bold camouflage livery, have leaked…
- VW is said to revive push to separate peripheral units, report says – Automotive News: Volkswagen is renewing efforts to sell minority stakes in non-core operations to streamline its business and focus on the main passenger-car brands, Bloomberg reported.
- Auto lobby tries to steer Colorado clear of California ZEV rules – Automotive News: The Alliance of Automobile Manufacturers met with Colorado Gov. Jared Polis on April 15 in a bid to convince him that voluntary efforts to boost electric vehicles make more sense.
- Kia details UK prices and specifications for updated Niro – Autocar: Always-connected Hybrid and PHEV crossovers gain uprated active safety systems from e-Niro Revised versions of the Kia Niro hybrid and plug-in hybrid (PHEV) are now on sale in the UK, priced from £24,590. Four trim levels are available, each powered…
- Uber Drivers to Strike Before IPO – New York Times: [Want to get New York Today by email? Here’s the sign-up.] It’s Tuesday. Hold on to your wallets. The Amazon Go store opening today in Lower …
- Tesla Plans to Sell Owners Cheaper Car Insurance – WSJ: The electric-car maker is creating its own branded insurance program, a move Tesla believes will enable it to offer a lower-cost product to drivers.
- Uber Says No Kids-These Other Car Services Say Yes – WSJ: A new set of niche ride-hailing services are looking to relieve overworked parents who can’t always drive their children from activity to activity.
- BMW CEO rules out taking Daimler stake as part of deeper alliance – Reuters: BMW’s Chief Executive Harald Krueger on Tuesday said there are no plans for the Bavarian carmaker to take a stake in rival Daimler as the two carmakers continue talks on how to deepen cooperation in the area of autonomous vehicles.
- New Mercedes-Benz GLS: UK pricing and specifications revealed – Autocar: New BMW X7 rival, with focus on space, refinement and comfort, to cost from £73,995 The new Mercedes-Benz GLS luxury SUV is now available to order in the UK, costing from £73,995. Revealed at the New York motor show, the GLS has been completely…
- New Ford Focus ST priced from under £30,000 in UK – Autocar: Most powerful Focus ST yet gets clever, driver-focused tech and a sportier edge The new Ford Focus ST will be available from £29,495 in the UK, with first customer deliveries due to begin next month. Sources say that the entry-level variant will be…
- European shares flat as deal boost fails to offset trade worries – Reuters: European shares flitted between slight gains and losses amid a flurry of deal … Tariff-exposed auto sector fell for the second session.
- Adecco struggles to find professional staff in the United States – Reuters: Adecco Group Chief Executive Alain Dehaze expects ongoing problems in the automotive sector to dampen demand for temporary workers in Germany while the staffing company is struggling to find enough qualified staff in the United States.
- UK new car registrations fall 4.1 percent in April: SMMT – Reuters: British new car registrations fell 4.1 percent year-on-year last month, dragged down by weak demand from consumers, according to industry data on Tuesday.
- Trump’s China trade war escalation is bad news for German automakers – Automotive News: President Donald Trump’s threat to raise tariffs on Chinese imports to the U.S. to 25 percent from 10 percent will cause aftershocks for Germany’s …
- BMW`s Auto Business Posts Loss Following Antitrust Charge – WSJ: BMW said its core automotive business swung to a loss on a $1.6 billion charge against potential fines from a European antitrust probe and rising costs to …
- BMW quarterly profit tumbles 78 percent, hit by 1.4 billion euro legal provision – Reuters: BMW’s first-quarter operating profit fell 78 percent to 589 million euros, despite higher deliveries of luxury vehicles, as the carmaker felt the effects of higher investment spending and a 1.4 billion euro ($1.6 bln) legal provision.
- Indonesia’s motorbikes catch second wind as car sales lag – Nikkei: The notion that as income levels rise, transportation in Southeast Asian countries inevitably shifts from two wheels to four seems to.
- ‘They treat us like crap’: Uber drivers feel poor and powerless on eve of IPO – Guardian: They charge wages have been cut ahead of the IPO and that the bonuses offered to long-term drivers by Uber and Lyft, its main rival, are inadequate.
- Investments, legal charge put brakes on BMW – Reuters: .comFRANKFURT (Reuters) – BMW’s first-quarter operating profit fell 78 percent to 589 million euros, despite higher deliveries of luxury vehicles, as the carmaker felt …
- BMW Q1 profit falls 78 pct hit by 1.4 bln eur legal provision, expenses – Reuters: BMW’s first quarter operating profit fell 78 percent to 589 million euros, despite higher deliveries of luxury vehicles, …
- BMW Quarterly Profit Slumps on $1.6 Billion Antitrust Provision – Bloomberg: BMW AG’s first-quarter profit slumped after car sales in key markets slowed and the manufacturer revised a provision for a potential fine for alleged collusion to …
- James Ruppert: how to take advantage of depreciation – Autocar: A tidy Jag XJ with 100,000 miles will cost around £4500 A sharp drop in value is good news for used car buyers. Here’s what’s hot and what’s not I had to look at some stats the other day and it seems that electric cars outperform diesel and petrol…
- INSIGHT-As IPO looms, Uber clings to hard-knuckled tactics in pursuit of growth – Reuters: Uber co-founder and former CEO Travis Kalanick used to tell investors he liked to keep his company teetering between order and chaos.
- As IPO looms, Uber clings to hard-knuckled tactics in pursuit of growth – Reuters: And it has successfully lobbied state legislatures to pass laws preempting local ride-hailing regulations, much to the frustration of officials in some …
- China EV Startup Is Said to Seek $500 Million in Fundraising – Bloomberg: Chinese electric-car startup Byton is close to clinching funding from investors led by state-owned China FAW Group Co., as it prepares to begin sales in the …
- Mazda3 bets on engine, tech upgrades to regain traction – Automotive News: Mazda is counting on fuel-saving mild hybrid powertrains and upgraded safety features on its new Mazda3 to give it a lift in Europe’s key compact segment, …
- Armed Robbery of Johannesburg Bankers Spurs Security-Guard Boom – Bloomberg: In a city that’s no stranger to crime, the snarl-ups made bank workers sitting ducks as thieves struck one car after the next, stealing whatever they can …
- Elon Musk Confirms He Bought $25 Million in Tesla Stock Last Week – Barrons: Tesla CEO Elon Musk confirmed in a regulatory filing late Monday that he purchased $25 million of his company’s stock in a public offering last week.
- How PSA’s David aims to transfer her Peugeot successes to DS – Automotive News: As a product director at Peugeot, Marion David managed the development of the 3008 and 5008 crossovers, which have become big hits for the …
- Senators Pushing Legislation to Protect EV Battery Minerals – Detroit Bureau: A group of U.S. Senators are banding together to help the growth of electric vehicle sales in the United States, but it’s not the group you’re thinking of.
- Japan’s Toyota Tsusho, JERA to sell Canada’s Goreway power station for $289 mln – Reuters: * Japan’s Toyota Tsusho Corp and JERA said on Tuesday they would sell their shares in the Goreway thermal power station in Ontrario, Canada to Capital Power Corp for a total of about 32 billion yen ($289 million).
- BMW sticks to plans to export from China despite tariffs – Nikkei:
- Big 3`s challenges on rise in China – Detroitnews: GM, Ford and Fiat Chrysler are facing an uphill battle as technology proliferates the Asian market and President Donald Trump ups the ante on tariffs.
- Mexico Readies Rollout of Tax Deal With Technology Platforms – Bloomberg: … Uber Technologies Inc. in which the platform will withhold taxes from partners who gain income from both its ride-hailing and food delivery services.
- Trump’s threatened China tariffs deepen GOP rift over trade – Washington Post: … to warn Trump away from a new round of tariffs on foreign cars and auto parts, as well as lifting existing levies on steel and aluminum products made …
