Fair Trade Commission investigators searched the Tokyo offices of BMW Japan on Sept. 11 over suspicions it set impossible sales targets for dealers and unfairly punished them when they failed to reach the goals.When dealers failed to achieve the targets, BMW Japan allegedly forced them to buy any unsold vehicles themselves.BMW Japan’s sales amounted to 285 billion yen ($2.6 billion) in 2018.
Author: World_Newz Mon
BMW Japan raided over improper sales quotas
The Fair Trade Commission raided BMW Japan Corp. on Wednesday for allegedly imposing unreasonable sales quotas on its distributors and making them buy vehicles when they missed the targets.The alleged unfair practice was apparently induced by fierce competition from Mercedes-Benz and other rivals in the imported vehicle market.Distributors registered BMW vehicles they purchased under their names and sold them in the used car market afterward.
Škoda to produce batteries for Volkswagen Group
Czech automaker Škoda is to start producing high-voltage traction batteries for Volkswagen plug-in hybrids at its main production facility in Mladá Boleslav.The battery packs will be used in the Škoda Superb iV, the automaker’s first hybrid vehicle, amongst other models.Production of the Superb iV is set to begin later this month at Škoda’s Kvasiny plant.
China’s iconic Hongqi launches concept models
CHANGCHUN, Sept. 11 (Xinhua) — Hongqi, a brand under China's leading automaker FAW Group, launched two new concept models — the S9, a supercar prototype with butterfly-doors, and the electric SUV E115.
Both of the models were unveiled at the ongoing Frankfurt Auto Show on Tuesday.
The S9 is the company's first super sports model, which boasts a maximum speed of 400 km/h and a 100-km acceleration within 1.9 seconds. It is equipped with a newly-developed V8T hybrid system with a maximum power of 1,400 horsepower.
E115 is Hongqi's smart electric SUV. The four-wheel-drive off-road vehicle with a single range of 600 km boasts an autopilot system and 0 to 100 km/h acceleration time in less than four seconds.
Hongqi, which means “Red Flag,” was established in 1958, and has been used as the vehicle for parades at national celebrations.
The company has sped up a market-oriented reform in recent years through diversifying its product mix. It now sells six models including two se..
A legend returns: The Land Rover Defender will be made in Slovakia
British carmaker Jaguar Land Rover (JLR) has introduced a new version of its iconic Defender.Although the new model can still be identified with its older versions, the Defender 90 model will provide six seats, while the 110 can be built as a five, six, or 5+2 seater.The Plug-in Hybrid electric cars will complement the Nitra-based production of Defenders next year.
Honda Cars India launches car leasing services in association with Orix
The leasing options are available for vehicles like Honda CR-V, Honda Civic and Honda City.The lease plan will offer benefits like comprehensive insurance plans, maintenance packages, tax management and curated rentals according to the requirement.Honda Cars India reported a 51.3 per cent decline in monthly domestic sales to 8,291 units in August 2019.
German automotive supplier Continental announces CO2-neutral production by 2040
BERLIN, Sept. 10 (Xinhua) — Continental is planning to be CO2-neutral “in all of its production processes” by 2040, Elmar Degenhardt, chief executive officer (CEO) of the second largest automotive supplier in Germany, announced at the international motor show IAA in Frankfurt on Tuesday.
In addition, Degenhart was optimistic that the automotive industry would be able to achieve CO2-neutrality “across the entire supply chain” by 2050.
The automotive industry would need to be CO2-neutral by 2050 “at the latest”, which would be “feasible if business and politics tackle it together”, noted Degenhart.
At the IAA, one of the largest automotive trade fairs in the world, Degenhart urged the German government to relieve the tax burden on Germany's automotive industry since “lower taxes and costs allow for higher investments and thus more innovations”.
In order to achieve carbon neutrality, Continental is aiming “in a first step” to solely use electricity from renewable energy sources in a..
Ford Cut to Junk as Moody’s Doubts Hackett’s Turnaround Bid
Ford Motor Co. was dealt a blow by Moody’s Investors Service, which cut the carmaker’s credit rating to junk on doubts that a turnaround plan by Chief Executive Officer Jim Hackett will generate earnings and cash quickly enough.
Tesla Permit Application Hints at Another Fremont Assembly Line
Tesla Inc. has applied for a permit from the city home to its lone assembly plant that hints the electric-car maker could be planning another assembly line.
Geely to take stake in flying taxi JV
Zhejiang Geely Holding Group will invest in German flying taxi company Volocopter, and set up a joint venture with the startup to launch air taxis in China, the company said on Monday.Since its foundation in 2011, Volocopter has built three generations of Volocopter aircraft, two of which received licenses for manned and unmanned flight with a total funding of 35 million euros.After the Series C funding round, Geely will become a minority investor in Volocopter, next to existing strategic investors like Daimler AG. More sourcesGeely to take stake in flying taxi JV (China Daily (Europe): Sep 10, 2019 at 12:00 AM)