VW – Page 3412 – I wish I had more to offer

SEC defends pace of Volkswagen suit after emissions scandal

WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission (SEC) on Monday defended the pace of its investigation into Volkswagen AG (VOWG_p.DE) after a judge asked why the agency waited two years after a global scandal related to vehicle emissions to sue the automaker. FILE PHOTO: The logo of Volkswagen is seen in front of… Continue reading SEC defends pace of Volkswagen suit after emissions scandal

Tesla proved it can hit production targets. Now investors want to see profits

Workers assemble cars on the line at Tesla's factory in Fremont.David Butow | Corbis News | Getty ImagesTesla CEO Elon Musk proved to analysts Tuesday that he can hit his lofty production and delivery targets, but now investors want to know if he can do the same with profits.
The company's second-quarter production and delivery numbers, released late Tuesday, eased investors' concerns about demand for its electric cars and SUVs with the company delivering a record 95,200 vehicles in the last quarter. Tesla's stock shot up by as much as 8% in after-market trading Tuesday and was up by about 5% Wednesday afternoon.
“While there were a good amount of 'leaked' emails and reports prophesizing a potential 'record quarter' for deliveries, we had not spoken to any investors that expected deliveries to be this high,” Morgan Stanley analyst Adam Jonas said in a research note.
The results mark “a turning point for the Tesla story,” Gene Munster, an analyst Loup Ventures, said in an interview on CNBC. “The key takeaway here is there is an undeniable truth that is starting to happen, and that is that demand of EVs is starting to go up.”
VIDEO6:2706:27Tesla reported 2nd-quarter numbers—Here's what 6 experts say to watchTrading NationInvestors want to know whether the quarter's performance is repeatable, especially after losing several key production executives ahead of the announcement. They also want to see whether Tesla sacrificed profit margins in its efforts to ramp up production.
“Tesla may/is likely to overproduce in a quarter or two this year, and investors will have no sense if the excess production ended up entirely in inventory, or is legitimately destined for customers,” analysts at Bernstein research wrote in a note to investors Wednesday.
The company delivered 77,750 of its best-selling Model 3 sedan, beating analysts' estimates by 3,650, according to data compiled by FactSet.
Dan Ives, an analyst at Wedbush Securities, called the Model 3 results the “linchpin of the Tesla growth story for the coming years.”
To be sure, Tesla's buyers lost part of a key tax credit that subsidized the cost of the electric cars and the company cut prices on several models throughout the quarter to boost demand. The federal tax credit for Tesla's cars was cut from $7,750 last year to just $1,875 on Monday. Musk even took to Twitter to remind people to take advantage before the credit shrank. That's something that could “weigh on profitability” when the company reports its earnings in a few weeks, analysts said.
“The Q2 delivery beat does not change our cautious view on Q2 earnings,” UBS analyst Colin Langan said in a note to investors. “Price reductions, the wider availability of cheaper versions of the Model 3, and the phase out of the US EV tax credit ($1,875) helped Q2 deliveries. The price cuts will likely result in margin pressure.”
The company is also facing increased competition in the high-end electric sports car market as automakers from Ford to Jaguar invest billions of dollars to develop their own electric lineups. It's something analysts at Goldman Sachs pointed to as they saw Tesla's competitive lead beginning to wane in the face of other EV launches. Volkswagen and Mercedes-Benz began taking orders in May for new battery-electric vehicles with plans to roll out more models in the coming years. Jaguar's I-Pace all-electric SUV swept industry awards at the New York Auto Show in April.
The report however, gave some analysts reason for optimism.
“After what's been, in my opinion, the darkest chapter in the company's history, finally some good news for Tesla going into a holiday weekend,” Ives said.

Warning light flashing for Slovakia’s auto industry – Automotive News Europe

Slovakia is not the only central European country facing such challenges. Fellow European Union members the Czech Republic, home to Volkswagen’s Skoda brand, and Hungary, where both BMW and Daimler have plants, rely heavily on investment from foreign automakers. A brewing global trade war is a particular concern for such countries, given their high reliance… Continue reading Warning light flashing for Slovakia’s auto industry – Automotive News Europe

Genesis Wants A FCEV, SUVs And BEVs To Chase Tesla

The idea is to hitch a hike on the concept that electric is luxurious. In the past, Rolls-Royce built its reputation on luxury with amazing finish and silent running – hence the phantasmagorical names of its cars. Tesla has done pretty much the same in the premium segment, but added technology and safety to the… Continue reading Genesis Wants A FCEV, SUVs And BEVs To Chase Tesla

Dodge Believes Its Performance Cars Will Have An Electric Future

Hopefully, Dodge follows through since electric is really the only way to go in the future. Tesla has proven that electric cars can provide exhilarating performance. Moreover, EVs like the Chevrolet Bolt, BMW i3, Audi e-tron, and Jaguar I-Pace provide plenty of instant torque and commendable overall driving dynamics, not to mention the ars from… Continue reading Dodge Believes Its Performance Cars Will Have An Electric Future

CORRECTED-(OFFICIAL)-E-scooters put Swedish start-up on road to positive cashflow

STOCKHOLM (Reuters) – Growing numbers of young people whizzing around Europe’s big cities on electric scooters may represent a nightmare for some pedestrians and motorists, but for Swedish sharing start-up VOI they offer a path to positive cashflow. Electric scooters from Swedish startup VOI and Belin-based Tier sit parked side-by-side in Stockholm, Sweden July 7,… Continue reading CORRECTED-(OFFICIAL)-E-scooters put Swedish start-up on road to positive cashflow

Audi sees record half-year sales in China

CHANGCHUN, July 8 (Xinhua) — The Sino-German auto joint venture FAW-Volkswagen said a record 311,871 Audi vehicles were sold in China in the first half of 2019, up 2.1 percent year-on-year.
Among domestically made models, sales of the A6L registered a total 46,281 units from January to June, while the average monthly sales of the A4L exceeded 14,000 units.
Imported cars also maintained high growth rates. A total of 1,957 units of Audi Sport were sold in June, a month-on-month increase of 116 percent.
The company said Audi will roll out new models such as e-tron and Q8 in the second half of the year, and strengthen cooperation with Baidu, Tencent and Alibaba on fields including automatic driving.

Startups at the speed of light: Lidar CEOs put their industry in perspective

As autonomous cars and robots loom over the landscapes of cities and jobs alike, the technologies that empower them are forming sub-industries of their own. One of those is lidar, which has become an indispensable tool to autonomy, spawning dozens of companies and attracting hundreds of millions in venture funding. But like all industries built… Continue reading Startups at the speed of light: Lidar CEOs put their industry in perspective

Charged mood

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Tag: VW