A more efficient division of labor and increased Group synergies – as part of the reorganization of competencies within the Volkswagen Group, today’s Audi Annual General Meeting will also vote on a so-called squeeze-out under stock corporation law. This will result in the transfer all the Audi shares of the remaining shareholders to Volkswagen AG,… Continue reading @VW Group: Audi Annual General Meeting votes on squeeze-out
Tag: Ford
Mexico’s Alfa to spin off rest of Nemak stake, shares surge
MEXICO CITY (Reuters) – Mexico’s Alfa (ALFAA.MX) said on Friday it plans to spin off the entirety of its remaining 75% stake in auto parts business Nemak (NEMAKA.MX), sending Alfa’s shares surging 17% on the prospect that the conglomerate could shrug off the struggling unit. FILE PHOTO: The logo of Nemak, a Mexico-based holding company… Continue reading Mexico’s Alfa to spin off rest of Nemak stake, shares surge
Ford will defer some quarterly payments on U.S. Energy Department loan
FILE PHOTO: The corporate logo of Ford is seen at Brussels Motor Show, Belgium January 9, 2020. REUTERS/Francois Lenoir (Reuters) – Ford Motor Co (F.N) said on Friday it had won approval to defer some quarterly payments due on its U.S. Energy Department retooling loan, but added it will repay the loan on time by… Continue reading Ford will defer some quarterly payments on U.S. Energy Department loan
Fiat Chrysler limits COVID losses, sees much better second half
MILAN (Reuters) – A small profit in North America helped Fiat Chrysler Automobiles (FCA) to limit losses from the COVID-19 crisis in its second quarter, and the automaker forecast a “much, much better second half” ahead of its planned 2021 merger with France’s PSA Group. FILE PHOTO: A Fiat Chrysler Automobiles (FCA) sign is seen… Continue reading Fiat Chrysler limits COVID losses, sees much better second half
North America helps Fiat Chrysler to limit COVID losses
MILAN/DETROIT (Reuters) – Italian-American automaker Fiat Chrysler Automobiles (FCA) posted a smaller-than-expected operating loss in the second quarter, as a small profit in North America helped to limit the damage wrought by the COVID-19 pandemic. FILE PHOTO: A Fiat Chrysler Automobiles (FCA) sign is seen at the U.S. headquarters in Auburn Hills, Michigan, U.S. May… Continue reading North America helps Fiat Chrysler to limit COVID losses
Mazda braces for record annual operating loss as car sales slump
FILE PHOTO: The logo of Mazda Motor Corp. is displayed at the company’s news conference venue in Tokyo, Japan May 11, 2018. REUTERS/Kim Kyung-Hoon TOKYO (Reuters) – Mazda Motor Corp (7261.T) forecast a record annual operating loss on Friday as the Japanese automaker continues to be pummelled by falling vehicle sales due to the COVID-19… Continue reading Mazda braces for record annual operating loss as car sales slump
Ford Bronco reservations surpass 150,000
The reception to Bronco 2021 — Ford’s flagship series of 4×4 vehicles that were revealed earlier this month — surpassed expectations of the company’s most optimistic initial projections, CEO Jim Hackett said in an earnings call Thursday. More than 150,000 customers have plunked down $100 to reserve a spot to order one of the vehicles,… Continue reading Ford Bronco reservations surpass 150,000
Self-driving startup Argo AI hits $7.5 billion valuation
Autonomous vehicle technology startup Argo AI is valued at $7.5 billion, just a little more than three years after the company burst on the scene with a $1 billion investment from Ford. The official valuation was confirmed Thursday nearly two months after VW Group finalized its $2.6 billion investment in Argo AI. Under that deal,… Continue reading Self-driving startup Argo AI hits $7.5 billion valuation
Ford’s surprise: $1.9 billion earnings loss is good news
CLOSE A look at the very first year of the Ford Bronco in this 1966 commercial ‘A Breed Apart.’ Detroit Free Press Ford Motor Co. executives have warned for weeks that their second-quarter earnings report would be an epic disappointment for a company that emerged from 2019 weaker than expected financially, despite a healthy year for the industry. Then the… Continue reading Ford’s surprise: $1.9 billion earnings loss is good news
Experts: These are the safest, most reliable used cars for under $20K
CLOSE Popular sedan’s looks, materials improve; voice recognition, controls don’t. Jennifer Stockburger, a mother of two children, worries about the safety of her 16-year-old son who just started driving with a learner’s permit. “Yikes,” she said. “When you’ve got a young driver, it’s worrisome enough because you’ve got this struggle. They have a higher propensity… Continue reading Experts: These are the safest, most reliable used cars for under $20K