Category: Automotive

The all-new BMW 1 Series – Additional pictures.

Do you need help? Please contact our support team from 9 to 17 CET via support.pressclub@bmwgroup.com. PressClub Global · Article. Wed Jul 17 00:01:00 CEST 2019 Press Release Please find attached on location pictures of the International Media Launch of the all-new BMW 1 Series. Please find attached on location pictures of the International Media… Continue reading The all-new BMW 1 Series – Additional pictures.

As Volkswagen Ends Beetle Production, a Final Photo Farewell to the Beloved ‘Bug’ – Fortune

The Volkswagen Beetle has finally completed its road trip. After 80 years of production in Germany, Belgium, Venezuela, South Africa, and about a dozen other countries, the last ‘Bug’ rolled off the factory line in Puebla, Mexico this week. The car’s journey to the Puebla Automotive Museum marked the final pit-stop for a vehicle that’s… Continue reading As Volkswagen Ends Beetle Production, a Final Photo Farewell to the Beloved ‘Bug’ – Fortune

Uber launches in Hamburg, now live in six German cities

FILE PHOTO: Screens display the Uber Technologies Inc. logo on the floor of the New York Stock Exchange (NYSE) during the company’s IPO in New York, U.S., May 10, 2019. REUTERS/Andrew Kelly/File Photo FRANKFURT (Reuters) – Uber said on Wednesday it was launching ride-hailing services in Germany’s second city, Hamburg, as it seeks to achieve… Continue reading Uber launches in Hamburg, now live in six German cities

Fiat Chrysler falls 4% after Goldman initiates at sell, citing North American growth struggles

2019 Ram 1500 pickup truck of the Fiat Chrysler Automobiles (FCA) is displayed at the North American International Auto Show (NAIAS) on January 15, 2018 in Detroit, Michigan.The Asahi Shimbun | Getty ImagesAutomaker Fiat Chrysler's stock fell more than 4% Tuesday after Goldman Sachs initiated the company's stock at a sell rating, citing growth concerns in North America and challenges in Europe for its opinion.
The investment bank set a price target of 11.50 euros ($12.90) giving the company a 7% downside.
“North America accounts for a disproportionate percentage of FCA's earnings. Additionally, it was the principal driver of FCA's earnings improvement over the last five-year business plan. However, we do not forecast the company's earnings in North America growing through its next five-year (2018-22) plan,” said Goldman analyst George Galliers, in a research note.
North American sales accounted for 93% of the company's adjusted earnings before interest and tax in 2018.
In the European market, the automaker is struggling with old products that need to be refreshed. Galliers said the company's average product age is 7.4 years, which is a cause for concern given the time it will take to update the portfolio. The Dodge Challenger, for example, hasn't been fully redesigned since 2008 and the Chrysler 300 since 2011. Fiat Chrysler plans to redesign both in 2021.
Analysts said the company would make for an attractive acquisition, but the recent U.S. designation that automotive research and development is critical to national security, complicates things for the Italian-American automaker. Galliers added that major marquee brands like Jeep were “too integral” to sell off.
Fiat Chrysler could also face EU emission penalties of up to 746 million euros ($837 million) if they fail to meet the European Union's 2021 emissions targets, though Galliers expects Fiat Chrysler will avoid the fine since the cost is “too punitive.”
Despite the downbeat expectations, Galliers said the company's brands and its heritage has appeal, and strong European sales could help offset some of its troubles.
The car maker will report its next earnings on July 31. Analysts estimate Fiat Chrysler will earn 84 cents a share in the third quarter.
Fiat Chrysler's stock has lost 30% of its value since last year.
VIDEO9:2409:24Why Italian classic Fiat is failing in the U.S.Autos

One of Uber’s flying taxi partners just raised a $25 million Series A round

Uber Air, the transportation company’s upcoming flying taxi service, needs vehicle partners in order to make it a reality. Karem Aircraft, which Uber partnered with last year, has just raised a $25 million Series A round for its new air taxi spin-off. The round was led by Korean industrial conglomerate Hanwha Systems. “Karem’s technology for… Continue reading One of Uber’s flying taxi partners just raised a $25 million Series A round

Voyant Photonics raises $4.3M to fit lidar on the head of a pin

Lidar is a critical method by which robots and autonomous vehicles sense the world around them, but the lasers and sensors generally take up a considerable amount of space. Not so with Voyant Photonics, which has created a lidar system that you really could conceivably balance on the head of a pin. Before getting into… Continue reading Voyant Photonics raises $4.3M to fit lidar on the head of a pin

Honda is bringing electric cars to the US, with modular platform allowing bigger vehicles

Honda is releasing its first electric car that was built to be electric from the ground up this year, but it is only for the European market. Now the Japanese automaker says that it is coming to the US with electric cars through a new platform that allows bigger vehicles. But it may take some… Continue reading Honda is bringing electric cars to the US, with modular platform allowing bigger vehicles

The Car Sales Company sells used cars online

The Car Sales Company, based in Bury, Lancashire, has adopted Gforces’ NetDirector® Auto-e platform to carry out used car transactions online. Working with motor finance firm MotoNovo, it has extended the service to include online finance applications with instant approval. The independent dealer holds, 250 used vehicles in stock and sells 2,000 cars annually. Owner… Continue reading The Car Sales Company sells used cars online