By Nick Carey DETROIT, – When Avis Budget Group Inc reports its results on Wednesday, executives under pressure from restive shareholders will likely point to the potential for profits from managing fleets of vehicles for ride services and robo-taxi companies. Avis, however, won’t be alone in chasing revenue from the same ride service companies that… Continue reading Avis steers into crowded field for managing ride services fleets
Author: Economic Times of India Online News
Toyota design chief sees future without mass-market cars
NAGOYA: As sharing services change car use and ownership, Toyota Motor Corp’s new design chief believes that vehicles will shift towards either generic boxes on wheels for everyday use or ultra-luxury cars, wiping out the need for mass-market models. Simon Humphries, responsible for design at the automaker’s Toyota and Lexus brands, said that fleets of… Continue reading Toyota design chief sees future without mass-market cars
BMW to build car assembly plant in Russia’s Kaliningrad region
BMW was previously considering building the plant in other regions of Russia. Moscow: German carmaker BMW has decided to build a car assembly plant in the Kaliningrad region, a Russian exclave on the Baltic Sea, Russian Industry Minister Denis Manturov said in an interview with business daily Vedomosti. The project will be part of a… Continue reading BMW to build car assembly plant in Russia’s Kaliningrad region
Daimler warns of supply chain risk from switch to electric cars
Daimler said spending on research and development would increase slightly in 2018 after spending 8.7 billion euros in 2017, a rise of 15 percent. FRANKFURT, – Daimler AG, owner of the Mercedes-Benz brand, warned that a fall in demand for diesel cars and a switch to electric vehicles could force it to prop up its… Continue reading Daimler warns of supply chain risk from switch to electric cars
Mitsubishi Motors Q3 profit jumps 19 fold to $865 mn
As part of the alliance that includes Nissan and Renault, Mitsubishi Motors is also targeting cost-savings of more than 100 billion yen over the next three years due to development and procurement efficiencies. TOKYO: Mitsubishi Motors Corp on Monday said its operating profit more than doubled during the third quarter as higher sales in Asia… Continue reading Mitsubishi Motors Q3 profit jumps 19 fold to $865 mn
Australia new vehicle sales make strong start in Jan
The Australian Federal Chamber of Automotive Industries’ VFACTS report showed 88,551 new vehicles were sold in January, up a healthy 4.3 per cent on the same month of last year.
Volkswagen offers two-step wage increase in German pay talks
The German carmaker has proposed a 30-month wage contract for about 120,000 staff, with the two-step salary increase starting in May, it said in a written statement published after talks with the IG Metall labour union.
German industrial workers to start 24-hour walkouts on Tuesday
The union has also asked for workers to be given the right to reduce their weekly hours to 28 from 35 to care for children, elderly or sick relatives, and return to full time after two years. DUESSELDORF/MUNICH: German industrial workers will start a fresh wave of walkouts at metals and engineering companies across the… Continue reading German industrial workers to start 24-hour walkouts on Tuesday
Chennai ideally paced, but needs better airport, says Daimler CEO
“I like this city. It has treated me very well,” Marc Llistosella said. “With a population of more than seven million people, Chennai is a pretty big city. But the pace of life is much better than it makes you feel the city is smaller,” hesaid. CHENNAI: Having first come to India in 2006 and… Continue reading Chennai ideally paced, but needs better airport, says Daimler CEO
Electric vehicles maker Tesla denies further Model 3 production issues
The problems included Tesla needing to make some batteries by hand and borrowing scores of employees from one of its suppliers to help with manual assembly, CNBC had said. New Delhi: Tesla is on track to achieve its production targets for the Model 3, the electric car-maker said on Thursday, squashing a report of further… Continue reading Electric vehicles maker Tesla denies further Model 3 production issues