Volkswagen rides out impact of new pollution regulations on car sales

Volkswagen brand logo

Volkswagen posted forecast-beating third quarter profit, weathering a storm of less car sales, more spending and new pollution regulations which dented earnings at competitors Daimler and BMW. Automakers throughout the world are having hard time to lift investment spending on electric and self-driving vehicles while shouldering heavy investments to rebuild combustion engines to meet more […]

KKR’s Calsonic purchases parts firm Magneti Marelli for $7.1 billion

magneti marelli

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 […]

Daimler’s operating profit to fall due to crackdown on diesel

Daimler

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 […]

Half of Volkswagen models in Germany not compliant with latest pollution standard

Volkswagen logo

German automaker Volkswagen stated only half of its VW branded passenger car models in Germany are compliant with the latest pollution standard, due to a much stricter emissions testing regime. Cars in the European Union must adhere to the new Worldwide Harmonised Light Vehicle Test Procedure (WLTP) from September, however Volkswagen has only gained regulatory […]

Experts believe Fiat Chrysler’s emissions not as huge as Volkswagen

Fiat Chrysler Automobiles FCA

Any prospective fines Fiat Chrysler Automobiles (FCA) might need to pay to settle a U.S. civil lawsuit over diesel emissions will unlikely top $1 billion, experts stated, including the case appeared less severe than at bigger competing Volkswagen. The United States government submitted a civil lawsuit on Tuesday accusing FCA of unlawfully utilizing software to […]