Increased costs and numerous special effects have the automotive supplier Continental pushed surprisingly deep into the red. The bottom line is that the Dax group reported a loss of 251 million euros for the second quarter on Tuesday, after a profit of 545 million a year ago. Analysts had expected a profit for the quarter.… Continue reading German Manager Magazin: Continental: Automotive supplier is driving deep into the red – “The current headwind is hurricane-like”001964
Author: Manager Magazin (German)
German Manager Magazin: China’s car market: growth in July, more e-car sales expected001963
With 1.84 million vehicles, China’s car dealers sold a little less than in the previous month, but a good fifth more than in July 2021, according to data published in Beijing on Tuesday by the industry association PCA. Electric vehicles accounted for more than a quarter of sales, at 486,000. The PCA is therefore now… Continue reading German Manager Magazin: China’s car market: growth in July, more e-car sales expected001963
German Manager Magazin: Porsche SE: Volkswagen Holding increases its half-year profit thanks to VW001962
The VW parent company Porsche Automobil Holding SE (PSE) also earned more in the first half thanks to rising profits at Volkswagen. After taxes, the result was 3.24 billion euros, as the Dax group announced on Monday in Stuttgart. That is around 31 percent more than in the same period last year. For the year… Continue reading German Manager Magazin: Porsche SE: Volkswagen Holding increases its half-year profit thanks to VW001962
German Manager Magazin: Baidu: Tech company allowed to use robotic taxis without safety drivers in China001961
The Chinese technology giant Baidu was the first company in the People’s Republic to receive the green light to operate fully autonomous robotic taxis on public roads. The licenses are effective immediately in the two Chinese metropolises of Chongqing and Wuhan Googlecompetitor announced on Monday. Robotaxis could now operate there without additional safety drivers. This… Continue reading German Manager Magazin: Baidu: Tech company allowed to use robotic taxis without safety drivers in China001961
German Manager Magazine: Tesla: California authorities sue car manufacturer001960
The Californian vehicle authority DMV accuses the electric car manufacturer Teslato deceive consumers about the autopilot system in their vehicles. As first reported by the “Los Angeles Times”, the authority has therefore filed a lawsuit against the company of tech billionaire Elon Musk. According to the report, Tesla made statements in its advertising that were… Continue reading German Manager Magazine: Tesla: California authorities sue car manufacturer001960
German Manager Magazin: Elon Musk: Tesla boss accuses Twitter of fraud in the takeover dispute, counterclaim published001958
The of Elon Musk canceled takeover of the short message service Twitter developed, not entirely unexpectedly, into a legal mud fight. After all, it’s about $44 billion that the Tesla boss had contractually promised for the takeover, but now no longer wants to pay. Twitter then sued the billionaire and Musk filed a countersuit last… Continue reading German Manager Magazin: Elon Musk: Tesla boss accuses Twitter of fraud in the takeover dispute, counterclaim published001958
German Manager Magazin: Tesla: Annual General Meeting votes for stock split001957
Tesla’s shareholders have approved the US electric car maker’s second stock split in around two years. In the campaign, each existing share is to be converted into three new ones. This makes the share certificates cheaper and more accessible for small investors. Tesla announced the plan in March and said in June that the split… Continue reading German Manager Magazin: Tesla: Annual General Meeting votes for stock split001957
German Manager Magazin: Court: Management remuneration for VW works councils inadmissible 001957
In a sensational criminal case last year, the Braunschweig regional court acquitted four VW HR managers of allegations of breach of trust – but the German judiciary continues to be concerned with the often lavish payment of high works councils. The chamber responsible at the time made it clear that senior staff representatives are generally… Continue reading German Manager Magazin: Court: Management remuneration for VW works councils inadmissible 001957
German Manager Magazin: Lucid Motors again lowers the production targets for its model Lucid Air hardly ever gets “the best electric car in the world” on the road001956
“We have the best car in the world. Now we have to get production going.” When Peter Rawlinson opened Europe’s first Lucid store in Munich in May, he was still optimistic that he wouldn’t end up in “production hell”. After presenting the half-year figures of the electric car manufacturer, it is clear: Lucid Motors is… Continue reading German Manager Magazin: Lucid Motors again lowers the production targets for its model Lucid Air hardly ever gets “the best electric car in the world” on the road001956
German Manager Magazin: Cazoo: Online car dealer questions the future in Germany001954
The online used car dealer Cazoo has been in Germany for just nine months. After selling tens of thousands of cars in the home market of Great Britain, the company around CEO Alex Chesterman (52) also started with some noise in this country, wanting to be the “Amazon for used cars”. In order to become… Continue reading German Manager Magazin: Cazoo: Online car dealer questions the future in Germany001954