Ford in Spain to stop car production for nine days following low demand
U.S. automaker Ford Motors will stop car production in its plant in Almussafes located in eastern Spain for nine days during November because of lower demand for its vehicles, a spokesman stated on Tuesday. Engine production would also be stopped for 13 days next month, he stated. Part of the Spanish production of automaker’s engines
- Published in Ford
KKR’s Calsonic purchases parts firm Magneti Marelli for $7.1 billion
Japan’s Calsonic Kansei, owned by U.S. private equity firm KKR, has is set to purchase Fiat Chrysler’s Magneti Marelli for 6.2 billion euros ($7.1 billion) to establish the seventh-largest independent car parts supplier. The first big deal by FCA’s newly-appointed CEO Mike Manley, who took over in July following the sudden death of long-time CEO
Uber plans to go all-electric in London in 2025
Uber plans for each of their car on its taxi app in London to be wholly electric in 2025 and will include a clean air fee to each trip from early next year, its boss informed reporters in London on Tuesday. CEO Dara Khosrowshahi, who pulled out of a Saudi conference following the murder of
- Published in Uber
Ford sees higher metal costs, hopes trade issues to be resolved
Ford Motor is observing higher steel and aluminum costs driven by trade tariffs bite into revenue, but is hopeful the United States and China can prevent more tensions that could make things more expensive, a top Ford executive stated on Monday. The United States stated in March it would enforce a 25 percent tariff on
- Published in Ford
Audi’s electric SUV delayed for four weeks due to software bug
Audi’s first electric sport utility vehicle (SUV) will hit showrooms four weeks after the planned date due to a software development issue, a representative for the German luxury car brand stated on Sunday. The spokesman stated Audi’s e-tron midsize SUV has been delayed because the automaker needs new regulatory clearance for a piece of software
- Published in Audi
Daimler’s operating profit to fall due to crackdown on diesel
Daimler stated its operating profit would decrease by over 10 percent this year, its second earnings warning since June, putting blame on “government proceedings and measures in various regions” as a crackdown on diesel emissions takes a toll. Daimler cautioned investors it expected its full-year earnings prior interest and tax to be “significantly below” 2017’s
- Published in Daimler
Ford CEO seeks to rally dealers as shares drops to new low
With Ford Motor’s stock at almost a nine-year low and the company squeezed by tariffs and trade tensions, CEO Jim Hackett sought to revive confidence among dealers gathered in Las Vegas this week, days ahead of declaring the automaker’s third-quarter results. In closed-door meetings with members of Ford’s national dealer network, Hackett and other top
- Published in Ford
SAIC Volkswagen starts building $2.5 billion China plant
Volkswagen’s China venture with SAIC Motor has started constructing a $2.5 billion new energy vehicle (NEV) plant in Shanghai, that will make automaker’s luxury Audi brand cars, a potential first for the venture. The new plant is a major step for Audi to diversify production of its cars in the world’s largest auto market from
- Published in Volkswagen
Porsche expects to repeat record auto sales this year
Volkswagen’s Porsche brand does not require a stock market listing to fund growth, Chief Executive Oliver Blume stated, adding he is sure the maker of the iconic 911 sportscar can repeat 2017’s record sales in 2018. Porsche sold 196,562 vehicles in the first nine months of the year, with Europe presenting a 9 percent increase
- Published in Porsche
U.S. investigates 54,400 Ford trucks over tailgate complaints
The National Highway Traffic Safety Administration (NHTSA) stated Thursday it had started a preliminary investigation into 54,400 Ford Motor pickup trucks after getting five complaints that tailgates had unexpectedly opened when the vehicles were in motion. The agency stated the investigation was investigating the issue in 2017 model year F-250 and F-350 Super Duty pickup
- Published in Ford
Volkswagen will offer buyer incentive to scrap older diesels
Volkswagen on Thursday stated it will offer trade-in incentives and a bonus for scrapping older diesel automobiles in Germany, in a move to stave off driving restrictions in polluted cities. The automaker will offer an incentive for consumers who agree to scrap diesel vehicles geared up with older euro 1 to euro 4 engines, the
- Published in Volkswagen
Tesla secures Shanghai plot for $2 billion to build Gigafactory
Tesla Inc has signed a deal with the Shanghai government for an 860,000 square meter plot of land to construct its first overseas Gigafactory, the automaker stated in a Chinese social media post. The land agreement marks a major step toward the company and its CEO Elon Musk making cars regionally in China for the
- Published in Tesla
U.S. Senate panel wants to question Hyundai, Kia over engine fires
The Senate Commerce Committee’s Republican chairman and ranking Democrat stated on Wednesday they had asked top U.S. executives at Hyundai Motor and Kia Motors to testify at a November 14 hearing on reports of engine fires associating vehicles from these two automakers. The call to testify comes after safety advocates raised issues about fires in
- Published in Hyundai
Geely dispels rumors about political ties with Chinese President
Chinese automaker Geely Automobile Holdings has been subjected to speculation about its political ties. The automaker has moved to dispel a widely held belief its chairman’s wife was related to Xi Jinping, who is the President of China. The automaker, which owns a stake in Daimler and the firm that makes London black cabs, disclosed
- Published in Asian
Volkswagen, Fiat Chrysler and Renault lead emissions-driven European sales decline
Volkswagen Group, Fiat Chrysler and Renault led a 23.4 percent European car sales reduction in September, the major regional industry body stated on Wednesday, as automakers still suffer from the introduction of stricter new emissions tests. Registrations dropped to 1.12 million cars in European Union and European Free Trade Association (EFTA) countries earlier month from
- Published in Chrysler, Renault, Volkswagen