Tag: Financial Results

Drover picks up £5.5M funding for its car subscription marketplace

Drover, a London-based startup that lets you take out a “car subscription” as an alternative to car ownership, has picked up £5.5 million in seed funding. The round was led by VC firms Cherry Ventures, Partech and BP Ventures (the venture arm of BP), and adds to an earlier £2 million ‘pre-seed’ investment from Version… Continue reading Drover picks up £5.5M funding for its car subscription marketplace

Link Motion and Irdeto collaborate to develop a connected vehicle platform

Link Motion  has reached an agreement with Irdeto to integrate its new smartphone-based secure vehicle access and safety solution, Keystone, into the Link Motion CarBrain platform. Automobile OEMs that implement Link Motion’s CarBrain will now provide consumers with the simplicity they expect to safely manage and operate today’s connected cars and autonomous vehicles, especially in new ride-sharing business… Continue reading Link Motion and Irdeto collaborate to develop a connected vehicle platform

Audi achieves robust performance in a challenging financial year 2017 and accelerates business transformation

The Audi Group increased its revenue and earnings under difficult conditions in 2017. For the first time, revenue surpassed the mark of €60 billion, thus more than doubling over the past eight years. With an operating profit of €5.1 billion before special items, the corresponding operating return on sales of 8.4 percent is within the… Continue reading Audi achieves robust performance in a challenging financial year 2017 and accelerates business transformation

Analyst: F-Series one reason to bet on Ford

Ford’s F-150 franchise might be worth more than the entire company, Adam Jonas said. (Photo: Ford) Ford Motor Co.’s F-150 franchise might be worth more than the entire company, according to Morgan Stanley equity analyst Adam Jonas. That’s one reason the Wall Street analyst on Wednesday raised his price target for the company from $10… Continue reading Analyst: F-Series one reason to bet on Ford

Press Release – Magna and Lyft Announce a Multi-Year Partnership to Develop and Manufacture Self-Driving Systems at Scale

Please click HERE for a PDF version of the release. Magna and Lyft will fund and develop self-driving systems Co-developed self-driving systems can be deployed on the Lyft network as well as for the entire automotive industry The partnership will benefit from data generated by the 5+ billion miles traveled per year on the Lyft… Continue reading Press Release – Magna and Lyft Announce a Multi-Year Partnership to Develop and Manufacture Self-Driving Systems at Scale

Ford Motor Company Issues Two N.A. Safety Recalls

DEARBORN, Mich., March 14, 2018 – Ford Motor Company is issuing two safety recalls in North America. Details are as follows: Select 2014-18 Ford Fusion and Lincoln MKZ vehicles for loose steering wheel bolts that could lead to a steering wheel detaching from steering column Ford is issuing a safety recall in North America for… Continue reading Ford Motor Company Issues Two N.A. Safety Recalls

Seat employees will receive a bonus of 700 euros after the “historical” results of 2017

Published 3/14/2018 11: 38: 26CET MARTORELL (BARCELONA), 14 Mar. (EUROPA PRESS) – The Spanish automotive firm Seat has announced that it will distribute an extra 700 euros to its employees, after closing the previous year with a historical operating profit of 191 million euros, a 24.8% increase. The parent company of Seat, the Volkswagen group,… Continue reading Seat employees will receive a bonus of 700 euros after the “historical” results of 2017

Successful financial year 2017: Volkswagen brand implements product and innovation offensive consistently

News Press Release News Brand Wolfsburg, 14 March 2018 Successful financial year 2017: Volkswagen brand implements product and innovation offensive consistently The Volkswagen brand can look back on a successful financial year in 2017. The brand sold 6.23 million vehicles and improved sales revenue to €80 billion. For the first time in five years, the… Continue reading Successful financial year 2017:
Volkswagen brand implements product and innovation offensive consistently

P2P car marketplace Shift pauses DC operations, lays off 10% of staff

After Beepi shut down its service and transferred its operations to stealth Fair.com, its closest competitor Shift is facing some downsizing, too — a measure of the challenges of the peer-to-peer car selling business model that both had been trying to establish. TechCrunch has learned and confirmed that Shift has laid off just under 10 percent of… Continue reading P2P car marketplace Shift pauses DC operations, lays off 10% of staff