Daimler confirms 2018 group EBIT outlook
Daimler stated a proposed deal to combine its mobility services company with that of competitor BMW will not close in 2018, forcing the automaker to reduce the outlook for its financial services division. Daimler stated the delay means it will not be able to book valuation and revenue gains this year, causing the financial services
- Published in Daimler
Auto supplier Bosch anticipates car market stagnating in next year
German auto supplier Bosch expects worldwide car production in 2019 to stagnate at this year’s level, the head of its core auto parts unit stated on Thursday, mentioning a cool-down in China and reduced demand for diesel cars in Europe. “Next year will be subdued. But we do not expect a downturn,” stated Rolf Bulander,
- Published in Press Releases
General Motors CEO will keep “open mind” on future of plants
General Motors CEO Mary Barra on Wednesday vowed to keep an “open mind” regarding the future of an Ohio plant that will lose vehicle production, but cautioned the automaker has excess capacity and did not mention the company was reconsidering the plan. Barra came under pressure from Ohio’s two U.S. senators and other lawmakers who
- Published in General Motors
Volkswagen seeks 6-billion-euro cost and efficiency gains by 2023
Volkswagen’s core brand will seek cost and efficiency gains of nearly 6 billion euros ($6.8 bln) in order to raise the core brand’s operating margin to 6 percent by 2023, German daily Handelsblatt noted, mentioning company sources. Volkswagen has stated it seeks to achieve an operating return on sales of no less than 6 percent
- Published in Volkswagen
Volkswagen may use Ford’s plants in U.S. for building cars
Volkswagen’s chief executive stated on Tuesday following a meeting at the White House that the German automaker was making an alliance with Ford Motor and might use the U.S. automaker’s capacity to build cars. VW CEO Herbert Diess stated the company was further “considering building a second car plant” in the United States, adding, “We
- Published in Ford, Volkswagen
Nissan panel puts off selection of successor to Carlos Ghosn
A Nissan Motor panel on Tuesday failed to nominate a successor to Carlos Ghosn as chairman following his arrest and dismissal for alleged financial misconduct in November, a source knowledgeable with the situation informed Reuters. Ghosn could remain in detention until the end of this year as Tokyo prosecutors prepare to rearrest him on a
- Published in Nissan
White House presses German automakers to boost U.S. investments
President Donald Trump pressed senior executives of top German automakers to boost their investments in the United States as the White House thinks about imposing new tariffs on European-made vehicles. German automakers stated after the meeting they informed Trump they planned to increase U.S. investments, but cautioned they would not be able to do so
- Published in BMW, Daimler, Volkswagen
Waymo brings self-driving taxi service in Arizona for paying consumers
Alphabet’s Waymo on Wednesday unveiled a major development in its expensive, decade-long quest for autonomous transportation: self-driving taxis that generate fares. With little fanfare, the company has started charging passengers to use its driverless vehicles in a approximately 100-mile (160 km) zone in four Phoenix suburbs – Chandler, Tempe, Mesa and Gilbert – where tested
- Published in Google
Last generation of combustion engines to be launched in 2026, says Volkswagen
Volkswagen‘s strategy chief stated on Tuesday the German automaker’s core brand is going to develop its final generation of vehicles utilizing combustion engine technology in 2026. Volkswagen made a strategy shift toward battery-driven vehicles following diesel-emissions cheating scandal in 2015, which forced the automaker to pay over 27 billion euros in fines. “In the year
- Published in Volkswagen
Do You Know These 5 Technical Terms Related to Your Car Insurance?
Before buying a car insurance you must be familiar with the technical terms related to its insurance. After understanding them thoroughly you can buy it from any leading car insurance firm more easily. An informed decision is anytime better than impulsive or ignorant one. A car policy is an investment of both your money and
- Published in Car Insurance
Timing of auto tariffs depends on talks, says US Commerce Secretary
U.S. Commerce Secretary Wilbur Ross stated that potential tariffs on automakers are aimed at encouraging companies to make more cars and other vehicles in the United States and the timing regarding any duties would depend on the success of continued negotiations. “It’s a very, very important component of the European situation,” Ross informed CNBC in
- Published in American
Daimler raises possibility of increasing stake in BAIC Motor
Daimler AG has boosted the prospect of increasing its stake in a joint venture with Chinese partner BAIC Motor, Bloomberg reported on Tuesday, mentioning people knowledgeable with the matter. Daimler has shown an interest in raising its holding in the JV to no less than 65 percent from 49 percent, as per the report. The
General Motors moves to challenge rivals in U.S. commercial fleet sales
General Motors is strengthening its competition with rival Ford Motor’s lead in sales to U.S. commercial fleets to prop up profit targets amid slowing consumer demand, according to executives at the No. 1 U.S. automaker. GM is counting on new medium-duty Silverados – equipped as tow trucks, utility bucket trucks and delivery trucks – to
- Published in Ford, General Motors
Nissan board members fails to nominate chairman to succeed Carlos Ghosn
Nissan Motor’s external board members failed on Tuesday to nominate a successor to Carlos Ghosn as chairman of the automaker following his arrest and dismissal for alleged financial misconduct, Kyodo News noted. The Japanese news agency did not mention its sources in reporting that the three members of the nine-member board had delayed the decision
- Published in Nissan
Audi to spend 14 billion euros in e-mobility and self-driving cars
Volkswagen’s premium auto brand Audi stated on Tuesday it would spend 14 billion euros ($15.9 billion) through 2023 in electric mobility, digitalization and self-driving. Overall, the company’s projected expenditure for the upcoming five years amounts to 40 billion euros, the company stated. It also prepares restructuring measures that will generate 1 billion in revenues uplift
- Published in Audi