Germany’s automotive sector could drop as much as 12% over “three bad trading days,” if the US President Donald Trump imposes tariffs on European automakers, one analyst informed CNBC. Trump has until Friday midnight (Washington time) to decide if he should impose duties on auto imports. This would possibly damage Germany, the EU’s traditional growth engine, since […]
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$340M rental car facility opens at Kahului Airport
Considered as the largest single public works project on Maui and the first of its kind in the state, the Kahului Airport Consolidated Rent-A-Car facility was celebrated by state leaders Tuesday. The new $340 million, multilevel CONRAC includes all significant rental car companies in one place and connects passengers with the airport through electric tram. […]
Volvo Cars is slashing several hundred jobs
Volvo Cars is cutting several hundred jobs according to Swedish radio, which cited sources for the information. The automaker, whose amount of workers has more than doubled during the past decade to about 43,000, confirmed it was revisiting staff and other costs to make sure its business had the “right skills”. “As a growing company, […]
VW to use Traton proceeds to internationalize truck business, says CEO
German automaker Volkswagen will use proceeds of an initial public offering of its Traton trucks unit to spend in the “internationalization” of the division, CEO Herbert Diess stated on Tuesday. Volkswagen on Monday stated it would press ahead with a listing of Traton prior to the 2019 summer break and would spend nearly 1 billion […]
Volvo Offers Post-Crash Guidance to Traumatized Owners via ‘Advisor’ App
To be honest, it is quite satisfying to see Volvo, the famous Swedish automaker, actually caring about its customers by striving to ensure their complete safety on the roads. Human life is a single-tracked essence, after all, and it is a shame to see it so easily wasted on roadside crashes and accidents. According to […]
Warning signs you need a tire replacement
Tires could possibly be the least complicated, yet critical elements of your vehicle, and keeping them in great condition is necessary for a safe drive. However, over time, these can deal with different types of issues, and sometimes, they will signal you in less obvious ways that they need a replacement. The performance of these […]
Judge questions SEC on delay in filing Volkswagen civil suit
A federal judge on Friday asked the U.S. Securities and Exchange Commission on the timing of its civil suit submitted in March alleging Volkswagen AG of defrauding investors and demanded the agency describe its rationale. Volkswagen was caught using illegal software to evade U.S. pollution tests in 2015, causing a global backlash against diesel vehicles […]
Error in JPMorgan loan to General Motors settles for $231 million
Lenders and hundreds of investors agreed to pay $231 million to put an end to their decade-long legal battle over a clerical error in a $1.5 billion loan to General Motors which was administered by JPMorgan Chase, according to court documents. The settlement payment will be an advantage to the unsecured creditors of General Motors’ […]
VW wins worker support for restructuring with $1.1 billion battery plan
Volkswagen workers supported a restructuring of Volkswagen on Tuesday after CEO Herbert Diess vowed to spend 1 billion euros ($1.1 billion) on a new battery cell production plant close to its headquarters in Lower Saxony. Diess requires the support of Volkswagen’s powerful unions as he tries to slim down and simplify the German company, that […]
Nissan revenues slide fuels Renault deal pressure
Renault is slowly pushing for a change of Nissan leadership as a beginning to merger talks, sources at both companies stated, after the Japanese automaker warned of additional slide in earnings following the Carlos Ghosn scandal. Jean-Dominique Senard, who took the place of Ghosn as Renault chairman in January, sees Nissan boss Hiroto Saikawa as […]
Peugeot says it can consider potential tie-ups after JLR report
PSA Group stated on Thursday it was ready to think about potential tie-ups, after the French automaker’s shares briefly increased on a report that it was in advanced discussions with Tata Motors to acquire UK-based Jaguar Land Rover (JLR). The Peugeot maker refused to discuss a report by British news agency The Press Association that […]
Ford prepares to take medical transport venture
Ford Motor prepares to broaden its GoRide medical transportation service to 40 cities in the US over the next four years, placing their projects into Ohio and Florida this year and other major states by 2020, the company stated on Tuesday. The automaker has been testing various methods to grow beyond its conventional business of […]
Turkey’s auto production almost 490,000 in first quarter
A total of 489,429 vehicles were produced across Turkish automotive industry production lines in the first four months of this year, the Automotive Manufacturers Association (OSD) reported on May 11. The nation’s auto production- consisting of automobiles, commercial vehicles, and tractors- dropped 13% year-on-year in the January-April period. The association stated automobile production in Turkey also declined 14% to […]
Tesla electric car catches fire in Hong Kong parking lot
A Tesla Inc electric car caught fire in a parking lot located in a Hong Kong shopping mall, the Apple Daily newspaper reported on Tuesday. No one was injured in the accident, and the cause was not immediately known. The electric car burst into flames 30 minutes after it was parked in the city’s San […]
Renault diesel emissions allegations upheld by court study
A French investigation into alleged emissions cheating by Renault is a step nearer to possible court action, Le Monde reported on Monday, following a technical report that confirmed that some of its diesel engines were set to emit more pollutants outside official test conditions. After Volkswagen’s 2015 admission that it had cheated engine software with […]
