Category: Newswire

Alabama-built Hyundai Santa Cruz pickup in the works

Hyundai has confirmed plans for an Alabama-built pickup called the Santa Cruz.Along with its sleek styling, the Santa Cruz concept featured an extended cab with rear-hinged half-doors and a unique extendable bed that gave it the carrying capacity of a midsize pickup.Hyundai has not confirmed either feature or the final styling for the production vehicle.

German carmaker Daimler presents new business strategy for coming years

BERLIN, Nov. 14 (Xinhua) — The German car manufacturer Daimler on Thursday presented a new sustainable business strategy with a “clear commitment” to CO2-neutral mobility as well as cost-cutting measures.
According to Daimler, global regulatory CO2 targets would require ongoing high investment. The growing range of plug-in hybrids and all-electric vehicles was leading to cost increases that would have a negative impact on the return on sales of Mercedes-Benz cars.
In Daimler's core business alone, Mercedes-Benz Cars, the car manufacturer planned to save more than 1 billion euros (1.1 billion U.S. dollars) in personnel costs by the end of 2022. To this end, Daimler was seeking to cut jobs both in management and in non-production areas such as logistics and accounting.
According to Daimler, it would be in close contact with its employee representatives “in order to make the measures as acceptable as possible.”
With the business strategy, Daimler was also seeking to improve its free..

Daimler takes “reality check” on robotaxis

* Daimler says robotaxi tech proving difficult to perfect
* Benefits of such vehicles unclear
* CEO says to “rightsize” spend level on robotaxis
* Commercial vehicles may be more suited for assisted driving tech (Adds details)
FRANKFURT, Nov 14 (Reuters) – Daimler has taken a “reality check” on self-driving “robotaxis”, acknowledging that making them safe is proving harder than first thought amid questions over their future earnings potential.
Chief Executive Ola Kaellenius told journalists on Thursday Daimler would “rightsize” its spending level on robotaxis and that self-driving technology would more likely be applied to commercial vehicles for freight companies on long haul routes.
Carmakers raced to develop self-driving vehicles after Google presented a prototype car in 2012, leading Daimler to develop an autonomous Mercedes.
The idea of fleets of robotaxis picking up and ferrying customers around cities gained traction, driven by the stellar growth of ride services such as Uber an..

The Ferrari Roma is for rich people who are afraid of Ferraris

Ferrari’s new car is pretty sweet.The two-plus-two-seat two-door features a sleek, clean style that appears aimed at competing against luxurious grand touring sports cars like those from Aston Martin.It is powered by a 612 hp twin-turbocharged V8 that’s good for 0-62 mph acceleration in 3.4 seconds and a top speed over 199 mph.

Ferrari N.V.: Completion of the second tranche of the disclosed multi-year share repurchase program and announcement of the third tranche

Maranello (Italy), 14 November 2019 – Ferrari N.V. (NYSE/MTA: RACE) (“Ferrari” or the “Company”) announces that under the multi-year common share repurchase program announced on 28 December 2018 (the “Program”), the Company has purchased additional common shares in respect of the second tranche of the Program – reported in aggregate form, on a daily basis… Continue reading Ferrari N.V.: Completion of the second tranche of the disclosed multi-year share repurchase program and announcement of the third tranche

Daimler cuts costs and sets course for the future

Daimler today presented a new sustainable business strategy at its Capital Market Day. With a clear commitment to CO2-neutral mobility, the company is setting its course for a successful future. “We are positioning the company for the transformation with a clear strategy for the future. The expenditure needed to achieve the CO2 targets require comprehensive… Continue reading Daimler cuts costs and sets course for the future

Avtovaz begins selling Lada Granta cars of local assembly in Egypt

MOSCOW, November 13. /TASS/. Avtovaz launched sales of cars of the new Lada Granta family of local assembly in Egypt, the company said on Wednesday.
Sales started on November 12 in Cairo. Cars are manufactured at the Al Amal factory.
Managing Director of Lada Export Max Missana said that with the release of a new model Avtovaz expects to strengthen the brand's position in Egypt.
It was reported earlier that Avtovaz sales on the Russian market increased by 1.5% year-on-year to 295,437 cars in January – October 2019. “295,437 Lada cars and light commercial vehicles were sold in Russia as of the end of 10 months 2019, up 1.5% against the like period of 2018,” the company said.
Car sales in October declined by 5.5%, the carmaker reports. 30,240 Lada cars were sold.
The market share of Lada in the segment of cars and light commercial market is about 21% as of the end of 10 months 2019, according to the company's estimate.
Avtovaz is the largest producer of cars in Russia. The Avto..