(Adds GM comment, details from filing, CEO and CFO comments on Cruise from earnings call, background, byline) By Ben Klayman DETROIT, Feb 6 (Reuters) – The head of General Motors Co’s Cruise self-driving car unit stands to make more than $179 million over the next decade if the technology subsidiary experiences a change in ownership… Continue reading UPDATE 1-GM Cruise chief could earn $179 mln in long-term incentives
Author: Ritters US Newsfeed
Daimler cuts dividend as downturn, R&D costs hit Mercedes
STUTTGART (Reuters) – Daimler cut its dividend on Wednesday after fourth-quarter operating profit plunged by 22 percent, hit by trade wars, rising costs for developing electric cars and an industry downturn that has dented even the most profitable carmakers. Daimler said the return on sales at Mercedes-Benz cars fell to 7.3 percent in the fourth… Continue reading Daimler cuts dividend as downturn, R&D costs hit Mercedes
Volvo to recall 167,000 cars due to possible tailgate fault
FILE PHOTO – The 2018 Volvo XC60 is displayed at the 2017 New York International Auto Show in New York City, U.S. April 12, 2017. REUTERS/Lucas Jackson STOCKHOLM (Reuters) – Volvo Cars said on Wednesday it would recall 167,000 of its XC60 model vehicles due to a possible fault with the electric tailgate mechanism. A… Continue reading Volvo to recall 167,000 cars due to possible tailgate fault
Daimler, Geely in talks to expand cooperation into a “bigger dimension”
STUTTGART, Germany, Feb 6 (Reuters) – Daimler Chief Executive Dieter Zetsche on Wednesday said the carmaker is in talks about deepening its cooperation with China’s Geely , even as German politicians draw up measures to protect German industry from foreign rivals. In October last year Daimler said it was setting up a ride-hailing joint venture… Continue reading Daimler, Geely in talks to expand cooperation into a “bigger dimension”
China sales buoy Toyota’s profit, but U.S. weakness persists
TOKYO (Reuters) – Toyota Motor Corp’s quarterly profit edged up as demand for its bread-and-butter car models from cost-conscious Chinese buyers helped offset bleak North American sales, although the firm’s shares slipped as it cut its annual net income outlook. FILE PHOTO: The Toyota logo is seen on the bonnet of a newly launched Camry… Continue reading China sales buoy Toyota’s profit, but U.S. weakness persists
Daimler cuts dividend as fourth-quarter Mercedes earnings take tariff hit
STUTTGART (Reuters) – Daimler cut its dividend as fourth-quarter operating profit fell 22 percent as trade wars and rising costs for developing electric and self-driving cars hit profits at Mercedes-Benz cars, the company said on Wednesday. Daimler AG CEO Dieter Zetsche, CFO Bodo Uebber, Martin Daum, head of Daimler’s truck and bus division and Joerg… Continue reading Daimler cuts dividend as fourth-quarter Mercedes earnings take tariff hit
UPDATE 2-Tesla cuts Model 3 price for second time this year
FILE PHOTO: Rows of new Tesla Model 3 electric vehicles are seen in Richmond, California. REUTERS/Stephen Lam/File Photo (Reuters) – Tesla Inc said on Wednesday it was lowering the price of its Model 3 sedan by $1,100, after the electric carmaker ended its costly customer referral program. The second price cut this year brings down… Continue reading UPDATE 2-Tesla cuts Model 3 price for second time this year
Bet everything on electric: Inside Volkswagen’s radical strategy shift
WOLFSBURG, Germany (Reuters) – If Volkswagen realizes its ambition of becoming the global leader in electric cars, it will be thanks to a radical and risky bet born out of the biggest calamity in its history. FILE PHOTO: An autonomous Volkswagen I.D. Crozz concept vehicle is shown at the Los Angeles Auto Show in Los… Continue reading Bet everything on electric: Inside Volkswagen’s radical strategy shift
Toyota’s third-quarter operating profit edges up as Asia sales rise
TOKYO (Reuters) – Toyota Motor Corp’s quarterly operating profit edged up as continued increase in sales in Asia, including China, offset lower sales in North America, its biggest market. FILE PHOTO: The Toyota logo is seen on the bonnet of a newly launched Camry Hybrid electric vehicle at a hotel in New Delhi, India, January… Continue reading Toyota’s third-quarter operating profit edges up as Asia sales rise
UPDATE 1-Fiat Chrysler recalls 882,000 pickup trucks for steering, pedal issues
FILE PHOTO: A Fiat Chrysler Automobiles (FCA) sign is seen at the U.S. headquarters in Auburn Hills, Michigan, U.S. May 25, 2018. REUTERS/Rebecca Cook/File Photo WASHINGTON (Reuters) – Fiat Chrysler Automobiles NV said on Tuesday it would recall 882,000 pickup trucks worldwide in two new recalls to address steering and pedal issues. The Italian-American automaker… Continue reading UPDATE 1-Fiat Chrysler recalls 882,000 pickup trucks for steering, pedal issues