A spokesman for Volkswagen on Thursday rejected a media report that said the automaker planned to fully cover the costs of diesel hardware retrofits, which would come in at 3,000 euros ($3,373.30) every vehicle. The spokesman stated the report on manager magazin’s website was false, and that Volkswagen had not made such an offer. He
Ford Motor stated it will join the rising micro-mobility movement with the acquisition of 2-year-old Spin, an electric scooter rental firm from San Francisco. Ford is one of the first to enter the sector. The automaker will invest about $200 million in Spin. The purchase price is lowered by investments in Lime and Bird, the
Mazda Motor on Thursday stated it planned to recall around 640,000 vehicles worldwide to resolve issues including a problem with the valve springs used in its diesel engines. The Japanese automaker stated it would recall around 230,000 vehicles at home and an estimated of 410,000 units in overseas markets, except the United States, where Mazda
When renting a luxury car like a Bentley, Mercedes Benz AMG series, Lamborghini or any other vehicle in that category, you will have to dig deep into your pockets but for a good reason. Well established business people, celebrities, politicians and some vacationers prefer to use luxury cars from reputable rental companies for many reasons.
The European Union’s competition authority stated on Wednesday it had accepted the plan of German automakers Daimler and BMW to combine their car-sharing businesses, subject to conditions. Under the deal, which consists car-sharing units Car2Go and DriveNow along with ride-hailing, parking and charging services, Daimler and BMW will both hold 50 percent stakes in a
National Highway Traffic Safety Administration (NHTSA) stated it was investigating if General Motors should recall another 1.7 million sport utility vehicles because of an issue with windshield wiper failures. GM, the largest U.S. automaker, had earlier recalled 367,800 2013 GMC Terrain and Chevrolet Equinox SUVs in the United States in August 2016 to address the
BMW will deepen cost cuts following higher development expenses added to a 27 percent fall in third-quarter operating profit, falling short of expert expectations as currency effects also took a toll. Investments to make electric and self-driving vehicles, along with spending to boost production of new X5, X7 and 8-series luxury models weighed on revenues
The National Highway Traffic Safety Administration is ending an investigation into almost 50,000 Ford Motor Explorer Police Interceptor vehicles regarding the reports of sudden brake failures, it stated on Tuesday, without seeking a recall. The investigation, started in April 2015, was prompted by reported incidents of front brake hose failure in 2015 Ford Explorer Police
European automakers BMW and Volvo prepare to experiment with steel contracts to be introduced by the London Metal Exchange early 2019, a move which could ultimately modify the way the industry hedges and prices contracts, industry sources stated. The LME is introducing three hot rolled coil (HRC) steel futures expanding in Europe, North America and
Ford Motor made a profit in India for the first time in ten years in the last fiscal year, indicating that a strategy conceived two years earlier by the U.S. automaker for one of the world’s most competitive car markets is beginning to show some success. Under an initiative named the Emerging Market Operating Model
Volkswagen on Tuesday stated the operating return on sales at its main VW passenger car brand would come in at the lower end of its 4 to 5 percent target range for 2018. Volkswagen mentioned the prices of preparing its passenger vehicles for tougher emissions rules, higher distribution expenses and upfront investments.
With a strategy of loading up its renovated Ram 1500 full-size trucks with new functions – ranging from 12-inch touch screens on the dashboard to big battery packs and electric motors to help adjust speed and gears and conserve fuel – the automaker is investing on a sustained surge in demand. Thus Chief Executive Mike
Volkswagen CEO Herbert Diess will outline a 10-year plan on November 16 to cut research expenses by collaborating with competitors, a step which would sideline Audi as the group’s leading development center. The chief executive will outline his plan at a meeting of the automaker’s supervisory board, two sources informed Reuters. It will explore possible
U.S. semiconductor provider Broadcom has made a patent claim for over $1 billion against Volkswagen and is threatening to look forward to a judicial ban on the production of several car models, German magazine Der Spiegel stated on Friday. A Volkswagen spokesman on Friday informed Reuters that a legal action had been filed by Broadcom
BMW is enlarging its car-sharing service DriveNow into five other London boroughs as the automaker overcomes some of the barriers to run across the city where firms need to strike agreements with independent local authorities. Daimler axed its car2go operation from London in 2014 after it proved more tougher than anticipated to coordinate between 33