Tag: Manufacturing

Continental and NVIDIA Partner to Enable Worldwide Production of Artificial Intelligence for Self-Driving Cars

Continental CEO Dr. Degenhart: “Together with NVIDIA, we will deliver the complete AI self-driving solution from the cloud to the car.” The partnership will create a sensing, planning and acting supercomputer on wheels 2021 introduction for Continental self-driving vehicle systems based on NVIDIA DRIVE AI Car computer and Continental sensors Auburn Hills, Mich., February 5,… Continue reading Continental and NVIDIA Partner to Enable Worldwide Production of Artificial Intelligence for Self-Driving Cars

Nissan will invest 7.65 billion euros in China

BEIJING (Reuters) – Nissan Motor plans to invest 60 billion yuan (7.65 billion euros) in China over the next five years with its local partner, with the goal of moving to the top three main players in the world’s largest car market. For a long time confined to the background in China, Nissan and Dongfeng… Continue reading Nissan will invest 7.65 billion euros in China

UK new car registrations decline in January

UK new car market declines in January – down -6.3%, as 163,615 cars leave showrooms. Demand for petrol and alternatively fuelled vehicles rises, but fails to offset fall in new diesel registrations. SUVs only vehicle segment to show growth, with 6.6% uplift leading to record market share. The UK new car market declined in the… Continue reading UK new car registrations decline in January

Tesla Model 3 Slammed By Engineering Firm For Manufacturing Flaws– “Like A Kia In The 90s”

Tesla’s Model 3 received some extremely harsh criticism from a Detroit engineering firm that takes automobiles apart and reviews them. CEO of the company, Sandy Munro, says that the new mass-market electric vehicle has so many production flaws that it’s “like a Kia in the 90s.” “I don’t understand how it got to this point.… Continue reading Tesla Model 3 Slammed By Engineering Firm For Manufacturing Flaws– “Like A Kia In The 90s”

Asset finance market records seventh consecutive year of growth

9 February 2018
New figures released today by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) grew by 5% in 2017 – the seventh consecutive year of growth. New business in December 2017 increased by 4% compared with the same month in 2016.
The plant and machinery finance and commercial vehicle finance sectors reported new business up in 2017 by 12% and 1% respectively, compared with 2016, while new finance for business equipment was up by 7% over the same period.
Commenting on the figures, Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said:
“The asset finance industry reported a record level of new business of almost £32 billion in 2017, despite challenging economic conditions and subdued business investment growth.
“The latest figures also reveal that asset finance is a vital source of funding for SMEs when investing in business equipment and machinery. Of the total asset finance new business in 2017, £18.6 billion went to SMEs – 12% higher than in 2016.”
Dec 2017
% change on prev. year
3 months to Dec
2017
% change on prev. year
12 months to Dec
2017
% change on prev. year
Total FLA asset finance (£m)
2,632
+4
7,861
+5
31,769
+5
Total excluding high value (£m)
2,483
-1
7,695
+5
30,752
+6
Data Extracts:
By asset:
Plant and machinery finance (£m)
512
+1
1,515
+5
6,617
+12
Commercial vehicle finance (£m)
572
-14
1,934
-1
7,480
+1
IT equipment finance (£m)
293
+19
726
+14
2,285
+2
Business equipment finance (£m)
227
+6
624
+6
2,581
+7
Car finance (£m)
629
-2
2,243
+4
9,531
+5
Aircraft, ships and rolling stock finance (£m)
36
-41
60
-50
549
+20
By channel:
Direct finance (£m)
1,153
-7
3,746
0
15,477
+4
Broker-introduced finance (£m)
579
+24
1,620
+21
5,839
+14
Sales finance (£m)
752
-8
2,329
+4
9,436
+7
By product:
Finance leasing (£m)
403
+1
1,022
+5
3,809
+6
Operating leasing (£m)
511
-12
1,624
-4
6,755
0
Lease/Hire purchase (£m)
1,225
+1
4,162
+5
16,924
+8
Other finance (£m)
493
+45
1,053
+19
4,281
+5
Note to editors:
In 2017, FLA members provided £128 billion of new finance to UK businesses and households. £32 billion of finance was provided to businesses and the public sector. FLA members financed more than a third of UK investment in machinery, equipment and purchased software in the UK in 2017.For media enquiries, please contact the FLA press office on 020 7420 9656.

New CLS line starts at Sindelfingen

Site manager of the Sindelfingen plant Michael Bauer (left) and Ergun Lümali, chairman of the Sindelfingen Works Council (right) Germany – Mercedes-Benz has started production of its latest CLS model at the Sindelfingen plant. The CLS will share the same assembly line as the E-Class sedan and T-models, with the AMG CLS 53 4MATIC+ also… Continue reading New CLS line starts at Sindelfingen

Skoda starts building new paintshop

Czech Republic – The facility at Mladá Boleslav is being developed at a cost of €214.5m ($253.8m) and will have capacity for 600 vehicle bodies per day, bringing the onsite total to 2,700 units including the existing paintshop. Operations are due to begin by mid-2019. In its announcement, Skoda said the new paintshop would be… Continue reading Skoda starts building new paintshop

Audi to build electric SUVs at Ingolstadt

Germany – The model allocation was announced by CEO Rupert Stadler alongside confirmation of job security for all Audi AG employees until 2025. In total, the ‘Audi. Future’ agreement will see the OEM produce 20 electrified models by 2025, including more than ten pure electric vehicles (EVs). “Building up manufacturing capacity for electric cars in… Continue reading Audi to build electric SUVs at Ingolstadt