Category: News Site

Analysis: Continental says goodbye to the combustion engine

Continental employees The supplier is investing more in e-mobility. (Photo: Bloomberg) Dusseldorf Less turnover, less profit and rising debt – Continental has already experienced better times. The worldwide decline in automobile production is dying DaxCorporation the balance sheet. Sales in the second quarter fell by one percent to 11.3 billion euros, adjusted EBIT by almost… Continue reading Analysis: Continental says goodbye to the combustion engine

Joint venture: Approval for joint venture of BMW and Great Wall uncertain

BMW logo In a joint factory in China, the E-Mini will be produced by BMW and e-cars from Great Wall. (Photo: AFP) Hong Kong The construction of a joint work of BMW with the Chinese manufacturer Great Wall for electric cars in China encounters obstacles. It is uncertain whether the joint venture will receive regulatory… Continue reading Joint venture: Approval for joint venture of BMW and Great Wall uncertain

PSA shares spike on report Dongfeng exploring options for stake

FILE PHOTO: A PSA Group logo is seen behind a car displayed during French carmaker’s news conference as they announce the company’s 2018 results at their headquarters in Rueil-Malmaison, near Paris, France, February 26, 2019. REUTERS/Christian Hartmann MILAN (Reuters) – Shares in PSA Group (PEUP.PA) briefly rose as much as 6.6% on Wednesday and trading… Continue reading PSA shares spike on report Dongfeng exploring options for stake

Tesla considers raising prices in China from September: sources

FILE PHOTO: People visit a Tesla booth during the media day for the Shanghai auto show in Shanghai, China April 16, 2019. REUTERS/Aly Song BEIJING (Reuters) – U.S. electric vehicle maker Tesla Inc is considering lifting its prices in China from September amid yuan-related uncertainty, two people familiar with the matter said. The people declined… Continue reading Tesla considers raising prices in China from September: sources

Enterprise Ordered to Pay Over $6M in Race Discrimination Case

Linthicum-based Enterprise RAC Company of Baltimore had a federal contract for rentals worth more than $10,000. Photo via Depositphotos. Enterprise’s subsidiary in Baltimore has been ordered by a federal judge to pay over $6.6 million in back wages and benefits to more than 2,300 black applicants who were rejected by the federal contractor’s management trainee program. According… Continue reading Enterprise Ordered to Pay Over $6M in Race Discrimination Case

Hertz Increases Q2 Revenue 5%

Net income attributable to Hertz Global was $38 million compared to a loss of $63 million. Photo via Atomic Taco/Flickr.​ For the second quarter 2019, Hertz reported a total revenue of $2.5 billion, a 5% increase versus the second quarter 2018. Net income attributable to Hertz Global was $38 million compared to a loss of $63 million. Adjusted net income for… Continue reading Hertz Increases Q2 Revenue 5%

Carwiz Enters Asian Market

Tourists from Asian counties mostly visit Zagreb, Zadar, Split, and Dubrovnik with the intention of visiting destinations such as Plitvice lakes and Krka falls. Photo via Carwiz.  Croatian rent-a-car brand Carwiz has recognized  the importance of connecting with the Asian market by concluding a contract of collaboration with a South Korean partner, Dongbo Air Service — one… Continue reading Carwiz Enters Asian Market