(Reuters) – Lyft Inc posted a robust jump in revenue on Wednesday in its second-quarter results, helping the ride-hailing company to a better-than-expected loss as more riders used the service and price competition with rival Uber eased. FILE PHOTO: The Lyft Driver Hub is seen in Los Angeles, California, U.S., March 20, 2019. REUTERS/Lucy Nicholson/File… Continue reading Lyft raises forecast for 2019 as price war with Uber eases, ridership rises
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Auto parts supplier: 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 dehumanizing the Dax Group. Sales in the second quarter fell by one percent to 11.3 billion euros, adjusted EBIT by almost 25… Continue reading Auto parts supplier: Continental says goodbye to the combustion engine
Great Wall warns BMW joint venture faces uncertainties
BEIJING (Reuters) – China’s Great Wall Motor (601633.SS)(2333.HK) on Wednesday said that its joint venture with BMW (BMWG.DE) faced regulatory uncertainties as both companies pledged to proceed with plans for developing a low-cost electric car. FILE PHOTO: The BMW logo is seen on a car in Nice, France, April 8, 2019. REUTERS/Eric Gaillard/File Photo The… Continue reading Great Wall warns BMW joint venture faces uncertainties
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
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
Crisis of the German automotive industry: Schaeffler, Bosch, Aumann – German automotive suppliers in need
picture alliance / dpa Cylindrical roller bearings from Schaeffler: Not only Schaeffler is suffering from the radical change in the automotive industry. Bosch, Leoni, Conti, Aumann, Infineon and BASF are also preparing for difficult times Trade war, weak demand, farewell to internal combustion engine: The German auto industry is in its most difficult phase for… Continue reading Crisis of the German automotive industry: Schaeffler, Bosch, Aumann – German automotive suppliers in need
MADD Teams with Velodyne Lidar for a Second Year to Advance Understanding of Autonomous Vehicle Technology
July 30, 2019 Mothers Against Drunk Driving (MADD) is proud to partner for a second year with Silicon Valley-based Velodyne Lidar, Inc., a market leader of real-time 3D perception systems used in a variety of commercial applications, including autonomous vehicles. The partnership continues a public education effort across the country on the safety benefits of… Continue reading MADD Teams with Velodyne Lidar for a Second Year to Advance Understanding of Autonomous Vehicle Technology
‘Curbing car imports won’t kill competition’
Assemblers of 660-1,000cc cars are lucky in the sense that the market is now getting wide open for them to take advantage of shrinking used car imports.Iconic Suzuki Mehran (800cc) continued to sail smoothly in the presence of imported 660cc used cars like Daihatsu Mira, Daihatsu Move, Nissan Dayz, Nissan Moco, Suzuki Alto, Suzuki Hustler and commercial picks of Daihatsu, Suzuki and Nissan.Some analysts fear that controlling used car imports will strengthen the monopoly of local assemblers that jack up prices multiple times every year citing the exchange rate movement.
Trump hits China with more tariffs, says Xi moving too slowly on trade
By Andrea Shalal and Alexandra Alper WASHINGTON (Reuters) – U.S. President Donald Trump vowed to impose a 10% tariff on $300 billion of Chinese imports from Sept. 1, sharply raising the stakes in a bruising trade war with China and jolting global financial markets. The announcement on Thursday extends Trump’s trade tariffs to nearly all… Continue reading Trump hits China with more tariffs, says Xi moving too slowly on trade
‘Truck, truck and away’: Pickups drive GM’s profit beat
DETROIT (Reuters) – General Motors Co (GM.N) posted a better-than-expected net profit on Thursday as high-margin pickup trucks, SUVs and crossovers helped overcome slowing sales in the United States and China, and reiterated its full-year earnings forecast. FILE PHOTO: General Motors Co. displays the new Chevrolet 2020 Silverado HD pickup truck at the GM Flint… Continue reading ‘Truck, truck and away’: Pickups drive GM’s profit beat