Tag: Financial Results

Tesla hits Model 3 production goals, plans to churn out 6,000 weekly by end of August

VCG | Getty Images A Tesla Model 3 car is on display during the Auto China 2018 at China International Exhibition Center on April 25, 2018 in Beijing, China.  Tesla said in a second quarter earnings update on Wednesday that it has repeatedly produced 5,000 Model 3 electric sedans in a week. Previously, the company… Continue reading Tesla hits Model 3 production goals, plans to churn out
6,000 weekly by end of August

Volkswagen says new emission tests pose biggest threat

Sean Gallup/2017 Getty Images Sean Gallup/2017 Getty Images Related content LONDON (CNNMoney) – Global trade tensions have put automakers under pressure. But Volkswagen says new emission tests in Europe pose the biggest threat to its business. “We cannot rest on our laurels because great challenges lie ahead of us in the coming quarters — especially… Continue reading Volkswagen says new emission tests pose biggest threat

Elon Musk trolls billionaire betting against Tesla: ‘Will send Einhorn a box of short shorts’

Alberto E. Rodriguez | Getty Images Elon Musk, co-founder and chief executive officer of Tesla Inc. David Einhorn’s hedge fund Greenlight Capital said the firm’s bet against Tesla shares “was our second biggest loser” in the most recent quarter. The billionaire also said in the Greenlight letter he was “happy that his Model S lease… Continue reading Elon Musk trolls billionaire betting against Tesla: ‘Will
send Einhorn a box of short shorts’

VW CEO says anti-pollution rules may hit profits, car sales

FRANKFURT (Reuters) – Volkswagen Group’s (VOWG_p.DE) Chief Executive Herbert Diess warned that new anti-pollution tests pose a risk to the carmaker’s profit targets. VW has warned that production of up to 250,000 cars will be delayed as it struggles to adapt its vehicles to a new anti-pollution test, the Worldwide Harmonized Light Duty Vehicles Test… Continue reading VW CEO says anti-pollution rules may hit profits, car sales

UPDATE 1-Ferrari confirms guidance as new CEO takes the wheel

MILAN (Reuters) – Ferrari (RACE.MI) reported a 7 percent rise in second-quarter adjusted core earnings and confirmed its outlook for the year as a new boss takes charge at the Italian supercar maker following the death of Sergio Marchionne. FILE PHOTO: The Ferrari Insignia is seen at the back of a Ferrari Testarossa during a… Continue reading UPDATE 1-Ferrari confirms guidance as new CEO takes the wheel

Volkswagen mulls own production of battery cells in Europe

WOLFSBURG, Germany (Reuters) – Volkswagen (VOWG_p.DE) is eyeing producing its own solid state battery cells, with possible serial production from 2024 or 2025, its chief executive said on Wednesday. A Volkswagen logo is pictured during the Volkswagen Group’s annual general meeting in Berlin, Germany, May 3, 2018. REUTERS/Axel Schmidt “We must not make ourselves dependent… Continue reading Volkswagen mulls own production of battery cells in Europe

Second charge mortgage repossessions fall in Q2 2018

15 August 2018
New figures released today by the Finance & Leasing Association (FLA) show that the number of second charge mortgage repossessions in Q2 2018 was 38, 2.6% lower than in the same quarter in 2017.
The annual rate of second charge mortgage repossessions (as a percentage of average outstanding agreements) in the twelve months to June 2018 was 0.09%.
Commenting on the figures, Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said:
“The latest figures show that the number of second charge mortgage repossessions remained low in the second quarter, and market expectations are for this to continue in the second half of 2018.
“If a customer is concerned about meeting payments they should speak to their lender as soon as possible to find a solution.”
FLA Possessions
Table 1: The number of actual properties taken into possession by FLA second charge mortgage providers1
Time period
Number of possessions
in the quarter
% change on the same quarter in the
previous year
Annual total
% change on the previous year
2008 Total
2009 Total
2010 Total
2011 Total
2012 Total
2013 Total
Q1 2014
Q2 2014
Q3 2014
Q4 2014
Q1 2015
Q2 2015
Q3 2015
Q4 2015
Q1 2016
Q2 2016
Q3 2016
Q4 2016
Q1 2017
Q2 2017
Q3 2017
Q4 2017
Q1 2018
Q2 2018
128
133
107
79
72
67
56
33
34
40
31
39
25
39
34
38
46
38
-43.4%
-27.3%
-25.7%
-35.8%
-43.8%
-49.6%
-47.7%
-58.2%
-52.8%
-40.3%
-44.6%
18.2%
-26.5%
-2.5%
9.7%
-2.6%
84.0%
-2.6%
1,612
1,467
864
827
6282
676
447
228
144
136
-9.0%
-41.1%
-4.3%
-24.1%2
7.6%2
-33.9%
-49.0%
-36.8%
-4.9%
Possession proceedings arising from FLA members’ second charge mortgage books, which have led to actual possession by the second mortgage provider.There were changes to the sample in Q1 2012 and Q1 2013 due to changes in FLA membership.Note to editors:
FLA members in the consumer finance sector include banks, credit card providers, store card providers, second-charge mortgage lenders, motor finance providers, personal loan and instalment credit providers.In 2017, FLA members provided £128 billion of new finance to UK businesses and households. £96 billion of this was in the form of consumer credit, representing over a third of total new consumer credit written in the UK in 2017.For media enquiries, please contact the FLA press office on 020 7420 9656.

Uber Kills Self-Driving Truck Division, Clearing the Road for Tesla

BYE, BYE AUTONOMOUS SEMI. Just under two years ago, Uber bought Otto, a startup focused on developing self-driving trucks. Now, Uber is bidding adieu to its plans for autonomous shipping, at least for the time being. On Monday, the company revealed in a statement that it’s closing its self-driving truck division. Uber’s self-driving trucks were seen on… Continue reading Uber Kills Self-Driving Truck Division, Clearing the Road for Tesla

UPDATE 1-Honda hikes annual profit view, posts surprise Q1 rise on N.America sales

* Sees annual operating profit 710 bln yen, prior view 700 bln yen * Cuts global group vehicle sales f’cast from previous view * Expects to sell record 5.29 mln vehicles, prior view 5.38 mln (Recasts, adds details on results) TOKYO, July 31 (Reuters) – Honda Motor Co raised its full-year forecast operating profit forecast… Continue reading UPDATE 1-Honda hikes annual profit view, posts surprise Q1 rise on N.America sales