Porsche has taken down payments from 30,000 consumers in Europe for its Taycan, the luxury automaker’s first fully electric model, CEO Oliver Blume informed Germany’s Handelsblatt newspaper. These consumers have made down payments of 2,500 euros each and 10,000 of them have already booked an order to purchase a Taycan, Blume said, adding that this […]
Japan’s markets watchdog recommends $22 million fine for Nissan
Japan’s markets watchdog stated on Tuesday that it has recommended that Nissan Motor should be fined about 2.4 billion yen ($22 million) concerning the underreporting of former chairman Carlos Ghosn’s compensation. The fine would concern the four financial years from April 2014 to March 2018, markets watchdog the Securities and Exchange Surveillance Commission (SESC) stated. […]
Ford expects its full-year 2019 loss from China to be halved
U.S. automaker Ford Motor stated on Monday it expects its full-year 2019 loss, before interest and taxes, from China to be almost halved from 2018. For 2020, the company expects to further slash down its China losses, before interest and taxes, by almost half that of what it expects to post for 2019. Ford states […]
Honda CEO seizes the wheel as quality crisis hits profits
At a two-day gathering for Honda’s providers in March, CEO Takahiro Hachigo sounded the alarm. At the Hotel Higashinihon located in Utsunomiya, Hachigo informed them that the Japanese automaker was dealing with a crisis after a string of costly recalls and other quality blunders and it required to plot a new course, according to two […]
Volkswagen charged with violating vehicle emission standards in Canada
Volkswagen AG on Monday was charged with importing almost 128,000 vehicles into Canada by contradicting the country’s environmental legislation, a Canadian government agency stated. The German automaker was charged with 60 counts for the violation of the Canadian Environmental Protection Act by importing vehicles that did not conform to prescribed emission standards, Environment and Climate […]
Tesla Model 3 on Autopilot crashes into police car on highway
A Tesla Model 3 was engaged in Autopilot when it rear-ended a parked police car in Connecticut during the weekend, the Stamford Advocate initially reported on Saturday. The driver informed police that he was looking at his dog in the backseat when his Tesla Model 3 rear-ended a cruiser, then continued to also strike a disabled vehicle. Tesla […]
Nokia suspends legal action against Daimler in the hope of mediation
Nokia has suspended legal action against Daimler in the hope that mediation will fix their dispute over technology licensing fees. The decision drew a positive response from the German automaker, which reiterated that the two firms had differing legal views on the dispute. Nokia’s pursuit of charges from Daimler has thrown a spotlight on the […]
Some facts to know about Cash for Clunkers in detail
The Cash for Clunkers was a program initiated by Obama in 2009. It was an auto-in-trade program with the help of which you can easily trade your old car for a new one. There are some facts that you need to know Cash for Clunkers to be more clear on the concept. What does a […]
MG Motor reveals its first electric car in India
MG Motor India, a part of China’s SAIC Motor Corporation, has revealed its electric SUV model ZS. This is MG’s second product in India following the Hector SUV. The vehicle will come with a 44.5 kWh battery, providing a range of around 340 km on a single charge. The ZS has a sky roof and […]
Hyundai’s $1.8 billion deal with Daewoo faces EU probe
World No. 1 shipbuilding group Hyundai Heavy Industries Holdings’ $1.8 billion merger with competitor shipbuilder Daewoo will deal with a full-scale investigation in Europe because of severe EU antitrust concerns, two people knowledgeable with the matter stated on Monday. Hyundai in January declared the deal to form the world’s biggest shipbuilder with a 21 percent […]
Person offered $200 in compensation as car engulfed after Walmart oil change
Joshua Nesbitt went in for an oil change and saw his car destroyed by fire. The incident took place at a Walmart in College Park and the store is declining to pay for the damage. Channel 2’s Justin Gray interviewed Nesbitt who stated that the car’s engine burned up. But he said all Walmart is […]
Used Car Retailer Vroom Raises $254 Million
New York-based online used-car retailer and e-commerce company Vroom has raised a $254 million funding round, the company stated Friday. The round was led by Durable Capital Partners with contribution from PICO Venture Partners. Vroom was established in 2013 by Israeli-born Elie Wurtman and Allon Bloch. When Vroom started up in 2013, it was initially […]
Man arrested for terrorizing auto dealership employee
A man was arrested for Felony Terrorizing after threatening a worker at a Grand Forks car dealership. The victim states the man was wielding a knife. Once the police officers arrived the man identified as 31-year-old Paris Shannon fled on foot. Police investigated for about a half-hour and found Shannon in an apartment building not […]
Electric car battery prices fell 13% in 2019
Although electric cars haven’t gained enough popularity in this decade as some had expected, enough indicators are pointing to the 2020s as the time when EVs will see that market fever pitch. From 2010 to 2019, lithium-ion battery prices have dropped from $1,100 per kilowatt-hour to $156/kwh—an 87% cut. From 2018 to 2019 alone, that […]
Porsche attracts Tesla owners with electric Taycan sports car
Porsche is experiencing a good amount of interest from Tesla owners for its new all-electric Taycan sports car, the head of the automaker’s North American operations stated. Klaus Zellmer, president, and CEO Porsche Cars North America has stated that out of “thousands” of potential U.S. consumers who have shown “sincere interest” in the sports car, Tesla owners […]
