Auto News 5

Articles 16 May, 2017

Hertz lost almost twice as much as expected in the CEO's first quarter at the helm as rental prices tumbled and the company's fleet took a hit from falling used-car values.

Troubled Mitsubishi Motors Corporation (MMC) has reported that its fiscal year 2016 (year ended March 31, 2017) result was a net loss of 198.5 billion yen, compared to prior year's profit of 72.6 billion yen.

Valeo, which recently posted strong first quarter financial results, is targeting the Chinese auto sector for future growth.

As pressures to improve air quality intensify, it is becoming harder for automakers to find new, affordable ways to improve fuel economy through established measures such as engine downsizing. Not yet high on the industry agenda but of growing importance, sustainability in fast-growing new markets must also be addressed. Continuing QUBE/just-auto's series of interviews, we spoke to Dr Oliver Taylor about a new approach to engine lubrication that could address both issues. Dr Taylor is chief engineer with Nexcel, an innovation business within BP's Castrol subsidiary.

In cooperation with sales partner Fahrzeug-Werke LUEG AG, Mercedes-Benz Van Sales Germany is starting an innovative and completely new operator programme at the parking area connected to the recently inaugurated Amazon Logistics Distribution Centre in Bochum.

Gestamp has has recorded first quarter net profit up 33% to EUR55m (US$60m) with revenues rising 16.1% to EUR2.1bn (US$2.3bn).

Zwickau-Mosel has been named by Volkswagen as the production location for not only its I.D. electric car but three other EVs. All will use the MEB architecture.

To lure more young talent straight out of school, Detroit is giving itself a full-on Silicon Valley makeover. Detroit remains a tough sell, given the Valley's $1 million signing bonuses and fat equity stakes in promising startups.

Guangzhou Automobile Group (GAC Group), the parent company of GAC Motor, has begun construction of a large industrial park for electric and intelligent vehicles as part of its efforts to boost its electric vehicle business.

Daimler has joined other German firms in talks to form a European company to store personal data securely so customers can make purchases online from different outlets without punching in their details each time.

Investment advisory firm Hermes has urged VW Group shareholders not to clear the automaker's management and supervisory boards from responsibility for actions taken in 2016, citing VW's failure to resolve long-standing corporate governance and...

The Chinese car market fell back by 1.4% in the month of April according to data released by the China Passenger Car Association.

A co-founder of Denmark's Saxo Bank has agreed to sell his 26 percent stake in the company to a subsidiary of Chinese automaker Geely Holding, marking the group's first foray into financial services.

Tata Motors' UK luxury vehicle unit Jaguar Land Rover, has reported April retail sales down 2.3% year on year to 40,385 although the year to date (YTD) tally rose 9.9% to 219,894 cars in the first four months of 2017.

New vehicle sales in Vietnam declined further in April, by 7.1% to 21,343 units from 22,977 units a year earlier, according to member data released by the Vietnam Automotive Manufacturers Association (VAMA).

Pirelli's Russian operation says it is exporting more than importing as the 'Made in Russia' drive gathers momentum and as companies look to take advantage of incentives generated by The Kremlin to stimulate the auto sector.

Continental appointed Enno Tang, who runs the German supplier's chassis and safety business in China, as president of the company's China operations. Tang replaces Ralf Cramer, will leave the company after his contract expires in August.

News 9 May, 2017

Land Rover's Range Rover Evoque celebrates 600,000 unit milestone with special edition model

The parent company of Chinese automaker Zhejiang Geely, which owns Sweden's Volvo Cars, plans to acquire a stake of up to 30% in privately-owned Danish investment banking group Saxo Bank.