General Motors Co. is making a big claim about its future electric cars: The automaker will be able to sell them at “very average transaction prices” and be profitable, GM President Mark Reuss said in a presentation Wednesday.
Author: World_Newz Mon
France hopes “door not closed” on FCA/Renault deal – French budget minister
PARIS, June 6 (Reuters) – French budget minister Gerald Darmanin said he hoped the door had “not closed” on the possibility of a merger between Fiat Chrysler (FCA) and Renault and added France would be happy to re-examine any new proposal from Fiat.
“Talks could resume at some time in the future,” Darmanin told FranceInfo radio on Thursday.
Earlier on Thursday, Fiat Chrysler said it had abandoned its $35 billion merger offer for Renault, blaming French politics for scuttling what would have been a landmark deal to create the world's third-biggest automaker.
Chinese Auto Group Asks Government to Unleash Stimulus to Spur Car Sales
An influential Chinese auto-industry trade group has asked authorities to unleash stimulus measures to counter the sector’s worst slump in a generation.
China fines Changan Ford for vertical monopoly agreements
BEIJING/CHONGQING, June 5 (Xinhua) — China's State Administration for Market Regulation announced Wednesday that it has imposed a fine of 162.8 million yuan (about 23.6 million U.S. dollars) on automaker Changan Ford Automobile Co., Ltd for implementing vertical monopoly agreements.
Since 2013, Changan Ford has restricted the minimum vehicle resale prices for downstream dealers in Chongqing municipality, violating China's anti-monopoly law, the administration said in a statement.
The company's practices deprived the downstream dealers of pricing autonomy, excluded and restricted the competition within the brand and in effect weakened the competition among brands, the statement said.
“[Such practices] damaged the fair competition in the relevant market and the legitimate interests of consumers,” it added.
Thus, the administration imposed the fine that equals to 4 percent of the company's 2018 sales in Chongqing in accordance with the anti-monopoly law.
The authority..
Russian carmaker Avtotor plans to increase car production by 20% yoy in 2019
KALININGRAD, June 5. /TASS/. Russian automobile holding Avtotor plans to increase production of cars by 20% year-on-year in 2019, the company’s founder Vladimir Shcherbakov told reporters on Wednesday.
“Last year we produced slightly more than 203,000 cars. This year, we expect to produce about 245,000 [cars], this is exactly 20% [up year-on-year],” he said.
Shcherbakov added that this year the holding plans to invest 100 mln euros in automobile production. According to him, these funds are part of total investment worth 12 bln rubles (164 mln euros) for 10 years stipulated by a special investment contract Avtotor intends to conclude before July 1.
The Avtotor holding was founded in 1994 in Kaliningrad, Russia’s westernmost region. The plant started production in 1997. It produces cars under BMW, KIA and Hyundai brands. In 21 years the company produced more than 2 mln cars.
Special investment contract is a new mechanism to support foreign and domestic car manufacturers. Its key a..
Volvo’s ‘World First’ Bicycle-Helmet-Versus-Car Test Flags Helmet Safety Flaws
Volvo and POC’s “world first” testing of a bicycle helmet impacting a car suggests that current testing protocols are not tough enough.
Lucky Motors to assemble Peugeot cars
Pakistan is set to get its first European car following the signing of an expression of interest (EoI) and a memorandum of understanding (MoU)between Lucky Motors Ltd (LML) and Groupe PSA of France in mid-May.Under the EoI and MoU, LML will assemble, manufacture, market, distribute and sell PSA passenger cars and light commercial vehicles in Pakistan.The group has planned to assemble PSA vehicles at Lucky Motors automobile manufacturing facility at Bin Qasim Industrial Park.
Lead a Major Automaker for 3 Years and You’re an Industry Elder
When Dieter Zetsche was replaced as chief executive of Daimler last week, it underlined yet another momentous change in the automotive industry’s executive ranks.After bottoming out during the last recession, the auto industry mounted a furious recovery only to quickly face deeper (and deeply expensive) questions: how to manage the shift to electric vehicles as the world confronts climate change and how to prepare for a time when cars might drive themselves.
The 986 hp Ferrari SF90 Stradale hybrid is the company’s most powerful car ever
Ferrari’s newest model is a plug-in hybrid aimed at burnishing the company’s environmental image.One of the electric motors is fitted between the engine and the 8-speed automatic transmission that drives the rear wheels, while each front wheel gets its own electric motor.The function is meant to be used in city centers, or anytime the driver wants to keep a low profile.
Ferrari SF90 Stradale revealed: a fabulous hybrid supercar packed with technical firsts
Ferrari has revealed its first series-production hybrid supercar, the SF90 Stradale, at an event at its base in Italy that is also home to the Scuderia Ferrari racing team.As you might expect, it looks fabulous, but first the figures, as this is a special car even for Ferrari.The top speed of more than 211mph is pretty much par for the course for a supercar of the modern era.