Electric vehicles cost less than half that of gasoline, according to a study about fuel costs published on Thursday by the University of Michigan. The average cost to operate an electric vehicle in the United States is $ 485 per year, while the average for a gasoline vehicle is 1,117, according to the study by… Continue reading Driving an electric car costs half as much as gasoline
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Auto1 says no need for IPO after Softbank invests
By Nadine Schimroszik BERLIN, – German used-car dealing platform Auto1 said a 460 million euro ($561 million) financial infusion from Japan’s Softbank meant it was under no pressure to launch an initial public offering to fund its pan-European growth plans. Softbank, through its Vision Fund, will make around half of its investment via new shares,… Continue reading Auto1 says no need for IPO after Softbank invests
Fiat Chrysler’s Marchionne: The Future of Cars Will Be Electric and Commoditized
Sergio Marchionne, one of the longest-serving CEOs in the auto industry, has a stark warning: Carmakers have less than a decade to reinvent themselves or risk being commoditized amid a seismic shift in how vehicles are powered, driven and purchased. Developing technologies like electrification, self-driving software and ride-sharing will alter consumers’ car-buying decisions within six… Continue reading Fiat Chrysler’s Marchionne: The Future of Cars Will Be Electric and Commoditized
Billions for Auto1: Berlin start-up in the world’s top – how Auto1 works
01/15/2018 Billions valuation for Auto1 “And then came grandma” By Claus Gorgs Kai Müller for manager magazin From zero to 2.9 billion: Hakan Koç (l.) And Christian Bertermann manage one of the most valuable start-ups worldwide The Berlin start-up has become Europe’s largest used car dealer in only five years. The investment by Softbank billionaire… Continue reading Billions for Auto1: Berlin start-up in the world’s top – how Auto1 works
Snows Group buys Portfield in Chichester
Snows Group has hit the acquisition trail buying Portfield in Chichester,which represents Citroën, Mazda and Peugeot (pictured) brands in the city. A Toyota franchise dealership is also being developed for the site. The deal also includes Portfield Part Exchange Centre Bognor Regis, which will become Snows’10th specialist used car outlet under the banner Too Good… Continue reading Snows Group buys Portfield in Chichester
UPDATE 1-Auto1 says no need for IPO after Softbank invests
BERLIN (Reuters) – German used-car dealing platform Auto1 said a 460 million euro ($561 million) financial infusion from Japan’s Softbank meant it was under no pressure to launch an initial public offering to fund its pan-European growth plans. Softbank, through its Vision Fund, will make around half of its investment via new shares, valuing Auto1… Continue reading UPDATE 1-Auto1 says no need for IPO after Softbank invests
Softbank invests €460M in Germany’s Auto1 car dealer platform
Softbank’s Vision Fund has made another investment: The Japanese conglomerate has agreed to invest €460M in Berlin-based online car dealer Auto1. Auto1 confirmed the investment in a press release put out today, saying the deal values the company at €2.9BN. Around half of the investment is being made through the issue of new shares, it added. The… Continue reading Softbank invests €460M in Germany’s Auto1 car dealer platform
Renault: record sales thanks to Lada and Asia
It is not only in France that Renault has a good year 2017. Internationally, the sales of the French manufacturer have also the wind in the back with an increase, all regions, of 8.5%, to 3.76 million vehicles sold. Asia-Pacific and Eurasia The brand at Losange is boosted by two sectors in particular: first Asia-Pacific,… Continue reading Renault: record sales thanks to Lada and Asia
Adapt or Die Is Marchionne’s Stark Farewell Message to Carmakers
Sergio Marchionne, one of the longest-serving CEOs in the automotive industry, has a blunt warning: Carmakers have less than a decade to reinvent themselves or risk being commoditized amid a seismic shift in how vehicles are powered, driven and purchased. Developing technologies like electrification, self-driving software and ride-sharing will alter consumers’ car-buying decisions within six… Continue reading Adapt or Die Is Marchionne’s Stark Farewell Message to Carmakers
Lookers invests £12m in Volvo and Jaguar dealerships in Glasgow
Lookers has invested £12m in new Volvo and Jaguar dealerships in Glasgow. Its subsidiary Taggarts is relocating the Jaguar and Volvo businesses from Maryhill Road, Glasgow and Windmillhill Street, Motherwell to new dealerships at Hillington Park. The new Taggarts Jaguar Glasgow dealership includes a 29,000 ft showroom split over two floors, with capacity for over… Continue reading Lookers invests £12m in Volvo and Jaguar dealerships in Glasgow