October 20, 2020

    Daily Auto News, Luxury Cars, Photos, Prices, Spy Shots, Videos, Incidents and more
    Tesla Inc logo

    Tesla shares increase 13% as strong deliveries drive profit optimism

    Shares of Tesla Inc increased 13% to a record high on Monday, extending their rally to more than 40% in five sessions after analysts raised their price targets on the electric automaker following its strong quarterly deliveries. The day’s jump has boosted Tesla’s stock market value by $30 billion, eclipsing the entire value of Ford […]

    Tesla
    American Airlines

    American Airlines seeks $3.5 billion in new financing to improve liquidity

    American Airlines Group Inc stated on Sunday it prepares to secure US$3.5 billion in new financing, to improve the airline’s liquidity as it deals with travel restrictions led by the coronavirus crisis. The company prepares to raise $1.5 billion by selling shares and convertible senior notes due 2025, the airline stated. Furthermore, the airline said […]

    Aviation
    Peugeot e-208 GT

    Fiat Chrysler turns down General Motors lawsuit, sees Peugeot deal by year-end

    Fiat Chrysler Automobiles NV on Thursday turned down a lawsuit from General Motors and stated it was sure about reaching a binding merger deal with Peugeot owner PSA Group by the end of 2019 to create the world’s fourth-largest automaker. General Motors submitted the lawsuit in the United States on Wednesday, accusing FCA of having […]

    Chrysler , General Motors
    Volkswagen brand logo

    Volkswagen could sell smaller trucks stake if markets are shaken by Brexit

    Volkswagen could sell a smaller stake in its Traton trucks department than expected if markets are shaken by Brexit, two sources knowledgeable with the matter informed Reuters on Monday. The automaker has stated it could list up to 25 percent of Traton in a deal expected to raise 5-6 billion euros ($5.7-$6.8 billion) and become […]

    Volkswagen
    Photos of Ford Eco sport

    JP Morgan and Ford cancel plans to attend Saudi investor event

    JP Morgan & Chase Chief Executive Jamie Dimon and Ford Motor Chairman Bill Ford dropped plans to attend a Saudi investor conference, the companies stated on Sunday, the recent such high-profile announcements following the disappearance of Saudi journalist Jamal Khashoggi. The cancellations could increase pressure on other U.S. companies such as Goldman Sachs Group Inc, […]

    Ford
    Volkswagen logo

    Volkswagen is about to hire four banks for truck unit IPO

    Volkswagen is near to hiring Citigroup, Deutsche Bank, Goldman Sachs and JP Morgan to assist with the possible stock market listing of its truck unit Traton, two people knowledgeable with the matter informed Reuters on Monday. Volkswagen stated last month that Traton should by year-end be in shape for a possible stock market listing, which […]

    Volkswagen
    Elmar Degenhart CEO of Continental AG

    Continental AG hires JP Morgan for possible break-up

    Continental AG has hired JP Morgan to recommend on a possible break-up, sources informed Reuters, as the car parts maker rearranges for a market focused on electric and self-driving automobiles. The U.S. investment bank has been mandated by the Hanover-based part and tyre maker to deal with strategic alternatives, consisting of a separation of its […]

    Press Releases

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