(Reuters) – Tesla Inc (TSLA.O) denied on Thursday that refunds of bookings of its Model 3 sedan were now outpacing reservations, responding to a report earlier in the day by a Wall Street brokerage citing channel checks on the electric carmaker. FILE PHOTO: A Tesla Model 3 sedan, its first car aimed at the mass… Continue reading Tesla says Model 3 refunds not outpacing deposits
Author: Ritters US Newsfeed
Fiat Chrysler kicks off Magneti Marelli spin-off
MILAN (Reuters) – Fiat Chrysler (FCA) (FCHA.MI) has kicked off its planned spin-off of parts maker Magneti Marelli which will be registered in the Netherlands and listed on the Milan stock exchange, a document outlining initial plans and seen by Reuters showed. Fiat Chrysler Automobiles (FCA) U.S. headquarters is seen in Auburn Hills, Michigan, U.S.… Continue reading Fiat Chrysler kicks off Magneti Marelli spin-off
Car share operators jump in as Paris Autolib scheme withers
PARIS (Reuters) – A string of private car-share operators are revving up business in Paris as the pioneering city-run Autolib scheme comes to an end and city authorities promote car sharing over private ownership. A woman rides a bike-sharing service Ofo bicycle during a presentation of new alternative urban mobility options at Paris city hall,… Continue reading Car share operators jump in as Paris Autolib scheme withers
VW CEO Diess pushes for margin improvements: Manager Magazin
FRANKFURT (Reuters) – Volkswagen Group’s (VOWG_p.DE) new chief executive Herbert Diess is pushing for faster margin improvements at its main Porsche, Audi and VW brands, German monthly Manager Magazin said. Audi head of the board Herbert Diess arrives to the company’s annual shareholders meeting in Ingolstadt, Germany May 9, 2018. REUTERS/Michael Dalder – UP1EE590M99V0 Diess… Continue reading VW CEO Diess pushes for margin improvements: Manager Magazin
Audi CEO Stadler presses for release from German custody
FRANKFURT (Reuters) – Audi’s (NSUG.DE) suspended Chief Executive Rupert Stadler has appealed to a court to be released from custody after spending the past month in jail, the Munich prosecutor’s office said on Thursday. FILE PHOTO: Rupert Stadler, CEO and Chairman of the Board of Management of Audi, attends the “AI for Good” Global Summit… Continue reading Audi CEO Stadler presses for release from German custody
Volvo juggling XC60 production to avoid U.S. tariffs – CEO
PARIS, July 19 (Reuters) – Volvo Cars (IPO-VOLVO.ST) is shifting XC60 SUV production for the U.S. market to Europe from China to avoid Washington’s new tariffs on Chinese imports, the Swedish carmaker said. Volvo, owned by China’s Geely, currently builds the compact XC60 in Sweden for European customers and in China for other markets including… Continue reading Volvo juggling XC60 production to avoid U.S. tariffs – CEO
Asahi Kasei to buy U.S. Sage Automotive for $1.06 bln
TOKYO (Reuters) – Japan’s Asahi Kasei Corp (3407.T) said on Thursday it would buy U.S. car interior maker Sage Automotive Interiors for $1.06 bln, including debt. Asahi Kasei said the acquisition is aimed at strengthening its position in the car interior market. It said it would disclose the impact of the acquisition on its earnings… Continue reading Asahi Kasei to buy U.S. Sage Automotive for $1.06 bln
UPDATE 1-Germany forces 1,050 Tesla owners to forgo electric car bonus
FRANKFURT (Reuters) – Germany has said 1,050 owners of the Tesla Model S must forgo a 2,000 euro electric car subsidy because the value of their vehicles surpasses an eligibility threshold. FILE PHOTO: The Tesla logo is seen at the entrance to Tesla Motors’ new showroom in Manhattan’s Meatpacking District in New York City, U.S.,… Continue reading UPDATE 1-Germany forces 1,050 Tesla owners to forgo electric car bonus
UPDATE 2-Continental AG restructures, prepares Powertrain for 2019 IPO
FRANKFURT (Reuters) – German auto supplier Continental (CONG.DE) on Wednesday said it will list its Powertrain unit as early as mid-2019 as part of a broader restructuring in response to far-reaching shifts in the auto industry towards electric and self-driving technologies. FILE PHOTO: Flags of German tyre company Continental are seen before the annual news… Continue reading UPDATE 2-Continental AG restructures, prepares Powertrain for 2019 IPO
Tesla Model 3 is most profitable electric car -consultant
DETROIT (Reuters) – The Tesla Inc Model 3 sedan is the most profitable electric car in the automotive industry, according to the head of a top automotive consultant. FILE PHOTO: The front hood logo on a 2018 Tesla Model 3 electric vehicle is shown in this photo illustration taken in Cardiff, California, U.S., June 1,… Continue reading Tesla Model 3 is most profitable electric car -consultant