Munich. The BMW Group confirms that the Munich public prosecutor has opened an investigation regarding a software update which has been mistakenly allocated to around 11,400 BMW 750d and BMW M550d vehicles. On 20 March, employees of the prosecutor’s office searched two BMW Group locations in connection with the investigation. As previously communicated, in the… Continue reading BMW Group statement concerning the ongoing investigation by the public prosecutor’s office Munich
Tag: Financial Results
Group 1 Announces Market Conditions and Costs Associated with Strategic Initiatives Will Negatively Impact First Quarter Results
HOUSTON, March 19, 2018 /PRNewswire/ — Group 1 Automotive, Inc. (NYSE: GPI), (“Group 1” or the “Company”), an international, Fortune 500 automotive retailer, today announced that first quarter earnings will be negatively affected by weak market conditions, including pressure on used car margins, as well as costs associated with a series of long-term, strategic investments designed… Continue reading Group 1 Announces Market Conditions and Costs Associated with Strategic Initiatives Will Negatively Impact First Quarter Results
Volkswagen dealer in turmoil: “The depreciation of diesel endangers existences”
All articles and backgrounds 03/19/2018 Volkswagen dealers in turmoil “The depreciation of diesel endangers existences” DPA Volkswagen logo at a dealer in Hannover The Volkswagen Group navigates surprisingly successfully through the exhaust gas scandal. The worst was probably over, emphasize top managers. Less confident, meanwhile, the VW dealer. They fear that a major item in… Continue reading Volkswagen dealer in turmoil: “The depreciation of diesel endangers existences”
BMW Group publishes Sustainable Value Report 2017: “For us, sustainability means future viability.”
Munich . The BMW Group made significant progress in shaping sustainable mobility in 2017. For the first time, the company sold more than 100,000 electrified vehicles in a single year. Although the percentage of diesel vehicles in Europe decreased, fleet consumption was further reduced – to an average of 122 grams per kilometre. As part… Continue reading BMW Group publishes Sustainable Value Report 2017: “For us, sustainability means future viability.”
Hyundai Motor America and SiriusXM Agree To Five-Year Extension
NEW YORK, March 19, 2018 /PRNewswire/ — SiriusXM and Hyundai Motor America announced today an agreement that extends the ongoing relationship between the two companies for five more years. Customers buying Hyundai and Genesis brand vehicles will continue to get a three-month introductory SiriusXM All Access subscription – SiriusXM’s most expansive programming package which includes access to… Continue reading Hyundai Motor America and SiriusXM Agree To Five-Year Extension
Balance sheet: million-risk for VW financial division due to losses in diesel cars
“Crisis made changes possible that were previously unthinkable” The business of VolkswagenGroup with auto financing and leasing contracts is still hardly burdened by the diesel scandal. As the VWSubsidiary Financial Services announced on Monday, the operating result rose again last year to a record level and reached 2.46 (previous year: 2.1) billion euros. However, the… Continue reading Balance sheet: million-risk for VW financial division due to losses in diesel cars
Dana Incorporated Increases Guidance for Full Year 2018
MAUMEE, Ohio, March 19, 2018 /PRNewswire/ — Dana Incorporated (NYSE: DAN) announced it is raising its 2018 full-year guidance. Strengthening end-market demand, most notably in off-highway and commercial vehicle, combined with benefits from currency translation are driving an additional 4 percent increase in expected sales growth in 2018 compared with the company’s prior full-year target. Due… Continue reading Dana Incorporated Increases Guidance for Full Year 2018
Dana Incorporated Confirms Plans for Secondary Listing of New Company on London Stock Exchange
MAUMEE, Ohio, March 19, 2018 /PRNewswire/ — Dana Incorporated (NYSE: DAN) has undertaken a series of productive meetings with U.K.-based shareholders of GKN PLC (LON: GKN). During those meetings, Dana outlined the compelling rationale for its proposed combination with GKN Driveline. Dana received direct feedback from GKN shareholders that they would like to hold stock in… Continue reading Dana Incorporated Confirms Plans for Secondary Listing of New Company on London Stock Exchange
Battery giant buys stake in lithium firm
A technician checks equipment on an assembly line of Contemporary Amperex Technology in Ningde, Fujian province.[Photo/Xinhua] Move to help secure supplies of key raw material, increase production capacity Contemporary Amperex Technology Co Ltd, China’s leading automotive battery maker, has purchased a more than 90 percent stake in a lithium company based in Canada, in a… Continue reading Battery giant buys stake in lithium firm
Mission E: The Tesla Hunter will be expensive for Porsche
Competition for the Tesla Model X At the Geneva Motor Show, Porsche CEO Oliver Blume shows the Porsche Mission E Cross Turismo. An electric SUV designed to challenge Tesla. (Photo: AP) Sports car manufacturer Porsche is burdened with high investments in electromobility. For the current year is the most profitable brand of the VWGroup carefully.… Continue reading Mission E: The Tesla Hunter will be expensive for Porsche