General Motors “exploited” its dealers in the closure of the Holden brand in Australia, a Senate inquiry has been told. The Australia Automotive Dealer Association told the inquiry on Monday that in the months leading up to the closure announcement in February, GM had recklessly allowed dealers to continue with costly upgrades to their facilities.… Continue reading General Motors ‘exploited’ Holden dealers in Australia, inquiry told
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Elon Musk: Tesla Cybertruck Created With Zero Market Research, Could Flop
The Tesla Cybertruck reveal was one of those events that broke the internet. It gained so much notoriety so quickly that it has to be acknowledged as being the star of one of the most memorable automotive unveiling venues of recent years. However, its success seems to have been a mere fluke, since we’ve now… Continue reading Elon Musk: Tesla Cybertruck Created With Zero Market Research, Could Flop
EV maker Lordstown Motors to go public by merging with blank check firm
(Reuters) – Lordstown Motors has agreed to go public through a merger with blank-check company DiamondPeak Holdings in a deal that values the electric pickup truck start-up at pro forma equity value of $1.6 billion, the companies said on Monday. The combined company will be called Lordstown Motors Corp following the closure of the deal… Continue reading EV maker Lordstown Motors to go public by merging with blank check firm
China gathers $12.7b for first green investment fund
An investor group led by China’s Ministry of Finance, Ministry of Ecology and Environment and the city of Shanghai has raised 88 billion yuan ($12.7 billion) for the country’s first dedicated environmental fund. The three parties are leading a group of 26 investors – most of them state-owned entities – to commit capital to the… Continue reading China gathers $12.7b for first green investment fund
German Manager Magazin: Electric Mobility: Poland is planning its own electric car brand, cars will be ready for series production from 2023000001
At the end of December 2019, Turkish President Recep Tayyip Erdoğan (66) took an extra dose of pathos on a stage: A “sixty-year-old dream” is now coming true, he explained when presenting two prototypes the first own electric cars in his country. With his dream of his own “people” –Electric car Erdoğan is not alone:… Continue reading German Manager Magazin: Electric Mobility: Poland is planning its own electric car brand, cars will be ready for series production from 2023000001
German Manager Magazin: “We are ready to push our limits” 000001
The car maker Volkswagen want despite the Corona virus-Pandemic still make an operating profit with the VW brand this year. “We continue to be financially robust and are aiming for a positive operating result for the year as a whole,” said Brand Finance Director Alexander Seitz (58) on Friday. “We are ready to push ourselves… Continue reading German Manager Magazin: “We are ready to push our limits” 000001
German Manager Magazin: Car manufacturers give more discounts – highest discounts on electric cars000003
On the German Car market prices drop for end users. According to the regular discount study conducted by the Duisburg CAR Institute, dealers and manufacturers tweaked all available screws for discounts in July. The lower VAT had a particular impact on the internet offer prices of 30 popular models, which were on average 22.5 percent… Continue reading German Manager Magazin: Car manufacturers give more discounts – highest discounts on electric cars000003
German Manager Magazin: Audi AG: Markus Duesmann000002’s comeback plan
The long shutdown of auto factories and car dealers and the slump in customer demand haveAudilet it slide deep into the red. The VW subsidiary sold 22 percent fewer cars worldwide in the first half of the year, sales fell 29 percent to only 20.5 billion euros and the operating loss was 750 million euros.… Continue reading German Manager Magazin: Audi AG: Markus Duesmann000002’s comeback plan
German Manager Magazin: MAN rips VW subsidiary Traton into the red 0000 001
The Volkswagen commercial vehicle holding company Traton cannot rule out a loss for the full year due to customers’ reluctance to buy. It is new Traton boss Matthias Gründler (54) is confident of a certain recovery in the second half of the year. “As our business has slowly stabilized after the sharp slump in April,… Continue reading German Manager Magazin: MAN rips VW subsidiary Traton into the red 0000 001
German Manager Magazin: Automobile industry Quarterly figures: How well (or badly) automakers are coping with the corona crisis000003
For weeks, car factories stood still, car dealerships were orphaned, traffic offices closed: The Coronavirus pandemicSo much has been clear since the lockdowns in Europe and the USA would hit the automotive industry hard. Now a number of major automakers have released their second quarter figures, which ran from early April to late June. Now… Continue reading German Manager Magazin: Automobile industry Quarterly figures: How well (or badly) automakers are coping with the corona crisis000003