Category: News Site

Used car values up 4.7% at auction in November says BCA

Average used car values surged during November 2019, rising by £453 (4.7%) during the month to reach £10,101, the third highest figure on record. BCA reported a that the year-on-year headline figure was up by £235, equivalent to a 2.4% increase in average values despite both average age and mileage rising – a result reflecting… Continue reading Used car values up 4.7% at auction in November says BCA

Volkswagen ID.3 Has Encountered ‘Massive Software Problems’

Rumors: Volkswagen produces ID.3 with incomplete software and stores the cars until the update is ready. German media reports of worrying “massive software problems” that Volkswagen is having with the Volkswagen ID.3, which has been produced on a limited scale in the ramp-up phase since November 4. The nature of the issue is not described, but… Continue reading Volkswagen ID.3 Has Encountered ‘Massive Software Problems’

Indian automaker Mahindra unveils top management reshuffle

MUMBAI (NewsRise) — Mahindra and Mahindra unveiled a top-level management reshuffle, aimed at grooming the next level of leadership that will have its task cut out: steer the company out of one of the worst-ever downturns gripping the Indian automobile market. Pawan Goenka, who is currently the managing director, has been given the additional responsibility… Continue reading Indian automaker Mahindra unveils top management reshuffle

Renault’s Senard: Nissan capital change is ‘last thing on my mind’

PARIS — French automaker Renault agrees with Nissan Motor to preserve the capital structure between the two companies for the time being, said Renault Chairman Jean-Dominique Senard, who stressed that capital changes are “the last thing on my mind.” In an interview with the Nikkei Asian Review, Senard said he wants to converge Renault’s technologies… Continue reading Renault’s Senard: Nissan capital change is ‘last thing on my mind’

Uber’s plan to launch an air taxi service in 2023 just got a boost from a secretive startup

Uber’s ambitious plans to launch an urban air taxi service just got a lift from a secretive, well-financed startup. The ride-hailing company said it would join forces with Joby Aviation, a California-based aerospace company that has been working on electric aviation for over a decade. Joby is the first company to commit to Uber’s aggressive… Continue reading Uber’s plan to launch an air taxi service in 2023 just got a boost from a secretive startup

FCA sticks to investment plan for Italy, no redundancies: unions

FILE PHOTO: A Fiat Chrysler Automobiles (FCA) sign is seen at the U.S. headquarters in Auburn Hills, Michigan, U.S. May 25, 2018. REUTERS/Rebecca Cook/File Photo TURIN, Italy (Reuters) – Fiat Chrysler (FCHA.MI) will stick to its 5 billion euro ($5.5 billion) 2020 investment plan for Italy, union officials said on Friday, adding that the group… Continue reading FCA sticks to investment plan for Italy, no redundancies: unions

Marshall buys Volvo Derby from Vertu Motors

Marshall Motor Holdings has today completed the takeover of the Derby Volvo franchise from Vertu Motors. It has relocated the business from Sir Frank Whittle Road to Stadium View at Derby’s Pride Park, in a side previously occupied by a Land Rover business before it was relocated by Inchcape. In a statement for customers, Marshall said: “Don’t worry –… Continue reading Marshall buys Volvo Derby from Vertu Motors

Mitsubishi and NTT to buy 30% of mapping company Here

Mitsubishi and NTT to buy 30% of self-driving mapping company Here Read M&A insights you won’t find elsewhere Exclusive scoops Smart data to help spot risk and opportunity Analysis of broader trends in M&A Lex, our agenda-setting business commentary (Premium only) Due Diligence, an exclusive M&A newsletter (Premium only) Choose your subscription Trial Not sure… Continue reading Mitsubishi and NTT to buy 30% of mapping company Here

FCA union says keeping plants open doesn’t mean guaranteeing jobs

FILE PHOTO: A Fiat Chrysler Automobiles (FCA) sign is seen at the U.S. headquarters in Auburn Hills, Michigan, U.S., May 25, 2018. REUTERS/Rebecca Cook/File Photo TURIN, Italy (Reuters) – The head of the one of the main union groups at Fiat Chrysler said on Friday a pledge by the Italian-American carmaker and France’s PSA not… Continue reading FCA union says keeping plants open doesn’t mean guaranteeing jobs