FILE PHOTO: Fiat Chrysler Automobiles (FCA) CEO Mike Manley arrives at the memorial service held in honor of former CEO Sergio Marchionne in Turin, Italy, September 14, 2018. REUTERS/Massimo Pinca/File Photo DETROIT (Reuters) – Fiat Chrysler Automobiles NV (FCA) has set an annual compensation target for Chief Executive Officer Mike Manley consisting of pay, cash… Continue reading FCA sets $14 million annual target compensation for CEO Manley: filing
Category: Automotive
Magna Announces Fourth Quarter and 2018 Results and Raises Quarterly Cash Dividend by 11%
Fourth Quarter 2018 HighlightsRecord fourth quarter sales of $10.1 billion up 5% from the fourth quarter of 2017Cash from operations of $1.6 billionReturned $585 million to shareholders through share repurchases and dividendsRaised quarterly cash dividend by 11% to $0.365 per shareFull Year 2018 HighlightsRecord sales of $40.8 billion, up 12% from 2017Record diluted earnings per… Continue reading Magna Announces Fourth Quarter and 2018 Results and Raises Quarterly Cash Dividend by 11%
Introducing an Open Standard for Autonomous Vehicle Visualizations
Introducing an Open Standard for Autonomous Vehicle Visualizations UberATGBlockedUnblockFollowFollowing Feb 22 By: Xiaoji Chen, Joseph Lisee, Tim Wojtaszek, and Abhishek Gupta Understanding what autonomous vehicles perceive as they navigate urban environments is essential to developing safe and reliable autonomous systems. Just as we have standards for street signs and traffic infrastructure to help human drivers,… Continue reading Introducing an Open Standard for Autonomous Vehicle Visualizations
Lured by generous exit packages, Didi employees scramble to be fired
Feb 22, 2019 1 min read Following the reports of lay-offs and heavy losses, ride-hailing company Didi is rumored to be offering downsized employees large paychecks, sparking a scramble to be fired. Tencent Tech (in Chinese) cited anonymous employees as saying the package is N+2, which equals to the amount of an employee’s annual income… Continue reading Lured by generous exit packages, Didi employees scramble to be fired
Sales increase, deliveries increase: VW increases profits and dividends
AP Volkswagen AG: Profit 2018 has risen Europe’s largest carmaker Volkswagen has the win in 2018 despite charges Diesel crisis and exhaust scandal increased. The operating result before special items climbed to 17.1 billion euros, as the Wolfsburg announced on Friday after a Supervisory Board meeting. In the previous year had 17.0 billion book. Analysts… Continue reading Sales increase, deliveries increase: VW increases profits and dividends
Defeat device as a “material defect”: BGH strengthens in the diesel scandal rights of VW customers
DPA In the exhaust gas scandal makes the BGH concerned VW customers hope Diesel drivers are waiting for a landmark verdict on their claims in the exhaust gas scandal. It is true that a hearing has now burst at the BGH at short notice. This time, however, the judges did not allow themselves to be… Continue reading Defeat device as a “material defect”: BGH strengthens in the diesel scandal rights of VW customers
Joint mobility company “Share Now”: “Growth is imperative” – Daimler’s alliance with BMW
AFP Together against Uber, Google and Co: BMW boss Harald Krüger and Daimler CEO Dieter Zetsche (r.) In Berlin In the hip Berlin location, there are modern wire furniture, concrete walls and sushi burritos. The automobiles of Daimler and BMW, Dieter Zetsche and Harald Krüger, despite their start-up flair, prefer to wear traditional-blue suits. In… Continue reading Joint mobility company “Share Now”: “Growth is imperative” – Daimler’s alliance with BMW
Car2go and Drive Now will become “ShareNow” in the future: Daimler and BMW are investing one billion in shared mobility service
PR BMW and Daimler have already merged their services Car2Go and DriveNow. Now they are investing one billion euros in the joint mobility service “ShareNow” based in Berlin The car companies Daimler Show stock market chart and BMW Show stock market chart want to invest more than one billion euros in their common mobility services.… Continue reading Car2go and Drive Now will become “ShareNow” in the future: Daimler and BMW are investing one billion in shared mobility service
Aston Martin Says 003 Hypercar Will Compete With LaFerrari And Senna – Carscoops
Aston Martin chief executive Andy Palmer has revealed that the upcoming 003 hypercar will have roughly the same amount as power as the LaFerrari. The automaker dropped a somewhat-revealing teaser image of the ‘Son of Valkyrie’ hypercar a few days ago, but didn’t offer up many details. Fortunately, Palmer did reveal some titbits to Auto… Continue reading Aston Martin Says 003 Hypercar Will Compete With LaFerrari And Senna – Carscoops
Ford is investigating possible problems with fuel economy, emissions tests
Bill Pugliano | Getty Images
Workers build a truck as it goes through the assembly line at the Ford Kentucky Truck Plant in Louisville, Kentucky.
Ford Motor said on Thursday it has hired outside experts to investigate its vehicle fuel economy and testing procedures after employees raised concerns, and did not know whether it would have to correct data provided to regulators or consumers.
The issues involving Ford's testing processes do not involve the use of so-called defeat devices — hardware and software designed deliberately to deceive government emissions tests, Kimberly Pittel, Ford's group vice president for sustainability, environment and safety engineering, told Reuters.
The automaker since last fall has been investigating concerns raised by employees that incorrect calculations were used to translate test results into the mileage and emissions data submitted to regulators, Pittel said.
Ford said it was evaluating changes to the process it uses to develop fuel economy and emissions figures, “including engineering, technical and governance components.”
Ford shares dipped slightly in after-hours trading following the disclosure.
Ford has hired the law firm Sidley Austin to lead an independent investigation into possible discrepancies in calculations used to produce emissions and fuel economy figures, Pittel said. The company is using an independent laboratory to conduct testing.
U.S. and California regulators have been cracking down on automakers for emissions cheating following revelations in 2015 that German automaker Volkswagen had used defeat devices to make models equipped with diesel engines appear to comply with emissions standards when they emitted far more pollution than allowed in real-world driving.
“We have voluntarily shared this information” with the U.S. Environmental Protection Agency and the California Air Resources Board, Pittel said. Ford notified the agencies this week, she said.
The EPA said in a statement on Thursday that information from Ford's investigation is “too incomplete for EPA to reach any conclusions. We take the potential issues seriously and are following up with the company to fully understand the circumstances behind this disclosure.”
The investigation has started with testing of the 2019 Ranger pickup truck, and the company expects data back next week, Pittel said.
She said it was not clear what impact the review will have on advertised mileage or fuel economy data submitted to regulators, nor is it clear how many vehicles could be affected if Ford is required to revise the data.
“We cannot predict the outcome, and cannot provide assurance that it will not have a material adverse effect on us,” Ford told investors in a regulatory filing Thursday.
“We are going to go where the investigation takes us,” Pittel said.
Ford has been embarrassed in the past by errors in fuel economy claims. In 2013, the automaker cut by seven miles per gallon the claimed fuel economy for its C-Max hybrid model following complaints that real-world mileage did not match the claimed fuel economy. In 2014, Ford lowered fuel economy ratings for six other models and offered compensation to customers.
F
—