Category: News Type

Waylands Automotive acquires Johnsons Cars’ Volvo Oxford dealership

Waylands Automotive has acquired Johnsons Cars’ Volvo Oxford car dealership to extend it operations to four sites – all with the Swedish premium brand. Waylands completed the acquisition of the Botley Road franchised site on October 5 and is set to realise plans to move the facility to a new 17-car showroom just a short… Continue reading Waylands Automotive acquires Johnsons Cars’ Volvo Oxford dealership

Wholesale Values Stabilizing at Start of October

In the truck segment, full-size vans experienced a strong week, as values for vehicles in that segment improved 0.25% over the previous week. Alternatively, full-size luxury crossovers/SUVs had the week’s weakest showing, as values for the segment fell 0.61% over last week. Photo courtesy of Black Book.  While luxury vehicles continue to struggle, overall vehicle… Continue reading Wholesale Values Stabilizing at Start of October

Flipkart’s Sachin Bansal looks to invest $100m in Ola – Report

October 11, 2018 Months after his exit from e-commerce major Flipkart, co-founder Sachin Bansal is planning to invest up to $100 million in Indian ride-hailing firm Ola, said a report in The Economic Times quoting sources. It was recently also reported that South African internet conglomerate Naspers LLC was in talks to invest in ANI… Continue reading Flipkart’s Sachin Bansal looks to invest $100m in Ola – Report

Tesla gave employees new confidentiality agreements after internal emails were leaked to the media: Report (TSLA)

Tesla drafted new confidentiality agreements after the contents of internal emails from CEO Elon Musk to employees were included in 2016 articles by Bloomberg and CNN, Bloomberg reports. According to the publication, Tesla legal vice president Jonathan Chang testified on Wednesday in a National Labor Relations Board (NLRB) hearing that the automaker’s general counsel told… Continue reading Tesla gave employees new confidentiality agreements after internal emails were leaked to the media: Report (TSLA)

Mazda Announces G-Vectoring Control Plusto Improve Vehicle Handling

2018/10/11 Products and Technology Available first in the updated Mazda CX-5, for which pre-orders start today HIROSHIMA, Japan—Mazda Motor Corporation has developed G-Vectoring Control Plus, the second new-generation vehicle dynamics control technology in the SKYACTIV-Vehicle Dynamics series.1 GVC Plus will be rolled out to all Mazda models, with the updated Mazda CX-5 – pre-orders for… Continue reading Mazda Announces G-Vectoring Control Plusto Improve Vehicle Handling

James Murdoch tipped to lead Tesla board?

James Murdoch could become the next head of Tesla’s board of directors. He is “the favourite” to replace Elon Musk, who currently serves as both board chairman and chief executive, the Financial Times has reported. However, Mr Musk said on Twitter that the FT report was “incorrect” without providing any further detail. Mr Musk agreed… Continue reading James Murdoch tipped to lead Tesla board?

Paris Will Resume Service Of 1,000 Autolib Charging Stations

3 H BY MARK KANE Autolib’s charging infrastructure is to be partially resumed This summer, Europe’s largest electric car sharing system, Autolib in Paris, was terminated including both – Bluecars and the charging infrastructure. According to latest news some 1,000 out of 6,200 charging points (single-phase, ≈3 kW) will be reopened on December 1, 2018,… Continue reading Paris Will Resume Service Of 1,000 Autolib Charging Stations

Ferrari stock target raised by nearly 40 percent as SocGen says firm now has a better plan

CNBC

Ferrari's renewed focus on high-end clients is a “game changer” for its valuation said Societe Generale on Wednesday, as the French bank raised its price target for the stock by almost 40 percent.

Italy's most famous supercar maker first listed on the New York Stock exchange in October 2015 with an Initial Public Offering (IPO) price of $52. At Tuesday's close the stock was worth $128.95.

After long questioning the stock's value, the bank said they have now changed their mind, upping their price target for the luxury car manufacturer of $130 from $94 and shifting their recommendation from “Sell” to “Hold”.

“The facts have changed and so we have changed our mind on Ferrari,” read the note penned by equity analyst Stephen Reitman.

What's ahead for Ferrari under Louis Camilleri
11:36 AM ET Mon, 23 July 2018 | 01:52

Reitman argued that Ferrari's initial plan to reach its 2022 sales target by turning to the SUV market would be difficult because of widespread competition. He added that any “dash for growth” could risk damaging the brand's exclusivity.

That strategy was put in place by former CEO Sergio Marchionne who died in July this year following surgery. His successor, Louis Camilleri, updated markets in September with a new earnings target range for 2022 of between 1.8 and 2 billion euros ($2.1 -2.3bn).

That represented a slight pull back from Marchionne's 2-billion-euro figure, but Reitman said that while the target numbers were largely unaltered, the company strategy has now changed.

“The new mid-term plan broadly repeats the key financial objectives laid out in February, but the way Ferrari plans to achieve them appears to have fundamentally altered,” he said.

Ferrari unveiled two new car models on September 18 2018. They are titled the Monza SP1 and Monza SP2.

The analyst said Ferrari has doubled-down on high end customers after it debuted two brand new road cars, the Ferrari Monza SP1 and SP2 last month.

Ferrari have said that the latest models are part of a limited series called “Icona.” The name has been chosen to reference the firms famous racing cars of the 1950's. The cars will retail at a starting price of 1.6 million euros.

Ferrari said the limited edition would run to a maximum of 499 cars but that there will be further model releases as part of the Icona range.

On plans for an SUV release, Ferrari have now pushed back the release date by two years to 2022. Reitman described the change of strategy as a “game-changer” for the firm.

Societe Generale added that Ferrrai's fundamentals ought now to be valued somewhere between the weighted average of the European luxury goods sector and the French high fashion luxury goods manufacturer, Hermes.