Nissan Motor has estimated the shut down of its plants in Barcelona could cost up to around 1.5 billion euros ($1.7 billion), a union source informed Reuters on Monday. The cost of the shut down is at the heart of a debate in Spain over the move, with the Spanish government saying it would be […]
General Motors and Ford condemn George Floyd death, racism
General Motors and Ford Motor condemned racial inequality in the United States after the death of George Floyd, an unarmed black man, allegedly at the hands of police in Minneapolis last week. In a letter to workers, GM CEO Mary Barra wrote she was “impatient and disgusted” after the death of Floyd and emphasized the […]
Renault finalizes 5 billion euro state-backed loan
Renault finalized a 5 billion euro ($5.60 billion) loan on Wednesday from with the French government, boosting the automaker’s finances following the coronavirus crisis which has damaged the auto industry. Renault said that the credit facility carried a guarantee from the French state – which holds a 15% stake in Renault – of up to […]
Volkswagen closes $2.6 billion investment in Argo AI
Volkswagen has closed its $2.6 billion investment in self-driving startup Argo AI, who is based on Pittsburgh. The automaker disclosed in a blog post on Tuesday. Argo, established in 2016 by Bryan Salesky and Peter Rander, is now jointly controlled by Volkswagen and Ford Motor, which made an initial investment in Argo after it was […]
U.S. court declines to shield Volkswagen in diesel scandal lawsuits
A U.S. appeals court ruled on Monday that German automaker Volkswagen AG cannot escape possible financial penalties from two counties in Florida and Utah that may amount to a “staggering” extra liability arising from the automaker’s diesel emissions scandal. The unanimous ruling made by a three-judge panel of the 9th U.S. Circuit Court of Appeals, […]
Indian automakers offer teaser loans as RBI softens stance
Maruti Suzuki, Hyundai and Mercedes Benz are providing Indian auto buyers “teaser loans”, a move that sources stated came after softening of the central bank’s stance because of a coronavirus-induced economic slump. Although the Reserve Bank of India (RBI) never prohibited teaser loans, which provide low interest rates for a limited period before jumping, its […]
Volvo Cars sales in May declined only 2.5 percent in the US
Volvo Cars USA reports 9,519 cars sold in May 2020, making it a strong month-over-month result, dropping only 2.5 percent. Overall year-to-date sales declined 18.2 percent Sales were down just 2.5 percent, and the number reflects a strong result from the automaker’s business Coronavirus restart plan, swift activation of digital tools to support consumers, and […]
Get Rid of Derelict Vehicles with Car Removal Companies
When you have a car that you can no longer drive, thoughts about what to do with it cross your mind. Should you let it just sit there, take it to a landfill, or abandon it somewhere? All these options are not appropriate. For starters it takes up important space in your home. Also, it […]
BYD to provide electric vehicle batteries to Ford
Chinese electric automaker BYD will provide electric vehicle batteries to U.S. automaker Ford Motor, a document on the website of the Ministry of Industry and Information Technology revealed on Monday. Ford’s China venture with Changan Automobile is looking for government approval to construct a plug-in hybrid model geared up with BYD’s batteries, according to the […]
Opel to include PSA model to Ruesselsheim production
German automaker Opel is preparing to start manufacturing a compact car for French parent PSA at its main Ruesselsheim plant from mid-2021 onwards, German business daily Handelsblatt reported, and mentioned company sources for their information. The car will be based on PSA’s EMP2 vehicle platform, the paper reported, saying the move could be officially declared […]
Hyundai sales in May fall sharply year-on-year due to COVID-19
South Korea’s Hyundai Motors stated on Monday its provisional May sales dropped 39% year-on-year to 217,510 vehicles worldwide, as the coronavirus outbreak continued to damage demand in key markets. Sales however increased 30% from 167,693 vehicles in April. Its domestic sales increased 5% year-on-year, led by popular models such as the Grandeur sedan and new models […]
F1 driver shake-up signals a changing of the guard in 2021
The Formula 1 season has yet to begin but already attention has turned to 2021 following the announcement that Sebastian Vettel will not be renewing his contract with Ferrari. A breakdown in contract negotiations has led to Ferrari securing the services of Carlos Sainz as a replacement for 2021. In turn, McLaren have announced that […]
Volkswagen ready to resume Mexico operations on June 15
The Mexican unit of Germany’s Volkswagen AG stated on Monday the automaker was ready to resume operations in the states of Puebla and Guanajuato on June 15 after activity was idled in late March because of the spread of the coronavirus pandemic. The government and automakers had enforced shutdowns of factories to control the spread […]
Mercedes cars damaged as rioters vandalize showroom in Oakland
Several vehicles inside a Mercedes-Benz showroom in California’s Oakland were vandalized and damaged when rioters broke in during clashes over the death of George Floyd. Riots and demonstrations have spread to numerous cities in the United States after a cop was caught on tape with his knee on the neck of a man later identified […]
Renault says they have no plans to close Maubeuge plant
French automaker Renault has no plans to shut down its Maubeuge plant in northern France, Chairman Jean-Dominique Senard stated on Sunday, two days after the automaker announced 15,000 job cuts worldwide as part of a major restructuring. The recovery plan, which would remove 4,600 jobs in France, aims to consolidate the Maubeuge site’s vehicle production […]
