Just two months ago, the auto industry was bracing for disaster. As the coronavirus spread, automakers shut down plants, and car sales plunged. But the industry is starting to breathe a little easier. Factories are churning out trucks and sport utility vehicles, with many of the plants nearly back to production levels that prevailed before… Continue reading As Sales Rise, Automakers Ramp Up Production
Author: New York Times Online News
Honda Hackers May Have Used Tools Favored by Countries
A computer virus hit the Japanese automaker Honda this week, disrupting its internal computer networks, forcing it to shut factories across the globe and leaving employees cut off from email or internal servers. While Honda has declined to name the attackers or the tools they used, cybersecurity analysts said that the attack appears to have… Continue reading Honda Hackers May Have Used Tools Favored by Countries
Uber Buys Postmates for $2.65 Billion
SAN FRANCISCO — Uber has agreed to acquire the food delivery start-up Postmates for $2.65 billion as it aims to expand its presence in on-demand food delivery while its core ride-hailing business struggles. The companies announced the all-stock deal on Monday morning. Uber will combine Postmates with its own food delivery subsidiary, Uber Eats, which… Continue reading Uber Buys Postmates for $2.65 Billion
Renault and Nissan Unveil Plan to Patch Tattered Alliance
TOKYO — Nissan and Renault, the quarrelsome main partners in the world’s largest automaking alliance, announced a plan on Wednesday to try to reset their troubled relationship as they seek to survive the coronavirus’s devastating impact on the car industry. The plan seeks to more clearly delineate each company’s turf so they can better absorb… Continue reading Renault and Nissan Unveil Plan to Patch Tattered Alliance
Hertz, Car Rental Pioneer, Files for Bankruptcy Protection
Hertz, which started with a fleet of a dozen Ford Model T’s a century ago and became one of the world’s largest car rental companies, filed for bankruptcy protection on Friday after falling victim to its mountain of debt. The coronavirus pandemic has devastated Hertz by grounding business travelers and tourists, making it impossible for… Continue reading Hertz, Car Rental Pioneer, Files for Bankruptcy Protection
Big Rigs Begin to Trade Diesel for Electric Motors
CHINO, Calif. — The turning radius took some getting used to. So did the gigantic steering wheel. But the electric version of the Freightliner Cascadia big rig was otherwise easy to drive, as I navigated the warehouse parking lot, dodging delivery trucks for Amazon and J.B. Hunt. Being 80 feet long, it didn’t quite offer… Continue reading Big Rigs Begin to Trade Diesel for Electric Motors
G.M. Lays Out Ambitions for Electric-Vehicle Lineup to Rival Tesla
WARREN, Mich. — Over the last three months, Tesla’s stock price has more than doubled, adding tens of billions of dollars in market value, as investors have concluded that the company is poised to lead the auto industry’s transition to battery-powered vehicles. Now General Motors is trying to make the case that it isn’t far… Continue reading G.M. Lays Out Ambitions for Electric-Vehicle Lineup to Rival Tesla
BMW Is Under S.E.C. Investigation
BMW Group, the German car manufacturer, faces an investigation in the United States by the Securities and Exchange Commission, the company said Monday. The inquiry is focusing on the company’s sales practices, and the commission contacted BMW within the last month, said a person briefed on the matter but not authorized to speak publicly about… Continue reading BMW Is Under S.E.C. Investigation
Fiat Chrysler Manager Faces U.S. Fraud Charges on Diesel Emissions
A senior manager at Fiat Chrysler Automobiles has been charged with conspiring to rig diesel-emissions tests on the automaker’s vehicles, according to a grand jury indictment unsealed on Tuesday. The charges come months after the company agreed to a costly legal settlement of lawsuits over the deception. Federal prosecutors are charging Emanuele Palma, a manager… Continue reading Fiat Chrysler Manager Faces U.S. Fraud Charges on Diesel Emissions
Uber Posts $5.2 Billion Loss and Slowest Ever Growth Rate
SAN FRANCISCO — Uber set two dubious quarterly records on Thursday as it reported its results: its largest-ever loss, exceeding $5 billion, and its slowest-ever revenue growth. The double whammy immediately renewed questions about the prospects for the company, the world’s biggest ride-hailing business. Uber has been dogged by concerns about sluggish sales and whether… Continue reading Uber Posts $5.2 Billion Loss and Slowest Ever Growth Rate