Ford Motor incoming CEO Jim Farley said on Tuesday he wants to expand the automaker’s operations into relevant technology fields, including software, fleet management, and electric vehicle charging. “These are new growth initiatives that could create a lot of value for the company,” Farley informed Reuters, after the automaker announced that he will succeed Jim […]
Ferrari’s orders accelerate after coronavirus hit to full-year outlook
Ferrari has trimmed its full-year earnings forecast on Monday following the decline in second-quarter income of about 60% because of the impact of the coronavirus crisis but said orders were “very strong,” sending the luxury automaker’s shares increased almost 4%. Chief Executive Louis Camilleri informed analysts that last quarter’s order book was up double digits […]
General Motors asks judge to reinstate racketeering case against Fiat
General Motors on Monday asked a U.S. federal judge to reinstate a racketeering lawsuit against Fiat Chrysler Automobiles (FCA), saying it has new details on foreign accounts used in an alleged bribery scheme involving its smaller competitor and union leaders. In its filing to U.S. District Judge Paul Borman, GM says the scheme, which it […]
U.S. auto sales recovery continues as Toyota posts lowest decline this year
U.S. new vehicle sales in July continued to show indications of recovery from the coronavirus pandemic, as Toyota Motor on Monday published its lowest sales reduction since the coronavirus crisis damaged the sector in mid-March. The Japanese automaker informed that its sales in July fell 19% versus the same month in 2019, to 169,484 units. […]
Volkswagen South Africa boss Schaefer named chairman of Skoda
Volkswagen’s Czech automaker Skoda Auto named VW’s South Africa boss Thomas Schaefer as its new chairman on Monday as part of a broader shake-up at the automaker. Schaefer is taking the position of Bernhard Maier, who left the Czech automaker last month after almost five years during which he led the 125-year-old Skoda to record […]
Maruti Suzuki sees increase in first-time buyers and additional purchase
The percentage of first-time buyers and additional vehicle buying have boosted in the midst of the coronavirus crisis as customers prefer personal mobility over public transport, a senior official of Maruti Suzuki India said. The company also believes that while auto sales have increased in July, the outlook for the festive season will depend on how the coronavirus […]
Automotive lighting market to reach $28.77 billion by 2026
Increasing concerns about vehicle safety and stringent government regulations have spurred technical innovations across the automotive lighting market. Additionally, the increasing population and rising consumer buying power throughout the developing world are expected to deliver lucrative opportunities in this space, according to a recent report. The global automotive lighting market size was valued at $18 billion in 2018 […]
Amelia car show raises money for the Cincinnati firefighter who rescued people
A Cincinnati firefighter was honored on Saturday as hundreds of cars were present in his honor and to help his family. Daryl Gordon died five years ago when he was trying to rescue people from a burning apartment building in Madisonville. After some years of Gordon’s death, Carl Whalen organized car shows to honor the men […]
Ford to defer some quarterly payments on U.S. Energy Department loan
Ford Motor said on Friday it had won approval to defer some quarterly payments due on its U.S. Energy Department retooling loan but also said that it will repay the loan on time by June 2022. In September 2009, Ford was granted a $5.9 billion low-cost government loan, an important source of liquidity following the […]
Police identify Two Died After Car Goes Into Housatonic River, Seymour
Cops have identified the two people who died after their vehicle ended up in the Housatonic River in Seymour, Connecticut, on Friday afternoon. Connie Crowell, 54, and her son, John Crowell, 22, were pronounced dead at the scene. Connie and John were from Monroe, police noted. The incident took place at Roosevelt Drive. Connie and […]
Skoda’s first-half deliveries decline 31%, sees steady markets ahead
Skoda Auto sees signs of recovery following first-half deliveries saw a 31% decline amid coronavirus lockdown measures, the Czech automaker owned by Volkswagen stated on Friday. The automaker, a bellwether for the Czech economy which contracted by a record 10.7% year-on-year in the second quarter, stated it expected worldwide markets to stabilize gradually as long […]
Volkswagen asks U.S. appeals court to reconsider ruling on emissions updates
German automaker Volkswagen owned U.S. subsidiary on Thursday asked the Ninth Circuit U.S. Court of Appeals to reconsider a ruling which stated that two counties could seek financial penalties for excess diesel emissions that might cost the automaker billions of dollars. The 3-0 ruling in June said Utah’s Salt Lake County and Florida’s Hillsborough County […]
Ford posts profit but expects loss this year
Ford Motor on Thursday said it expects a full-year loss but also said that it should have enough cash on hand throughout the rest of this year, even if global demand drops further or the coronavirus crisis results in more shutdowns of vehicle assembly plants. The automaker also said that on July 27 it repaid […]
Computing is the new horsepower, says Audi CEO
Automakers that once competed mostly over the power of their engines are now striving over a much less tangible sort of power as they race to develop automated automobiles – computing. New Audi CEO Markus Duesmann is assembling a team of about 200 engineers in parent company Volkswagen Group for developing a new computer-driven vehicle […]
Former Nissan executive Greg Kelly to stand trial from September 15
The trial of Nissan Motor’s former executive Greg Kelly, who is charged with conspiring to under-report the earnings of its former chairman Carlos Ghosn, has been set to start on September 15, public broadcaster NHK said on Thursday. Former Nissan CEO Hiroto Saikawa will be one of those who will appear at the hearing at […]
