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
Tag: Financial Results
Could General Motors launch its own Airbnb for cars?
A smartphone displaying the Maven app, a GM car-sharing service is shown in Ann Arbor in April 2016. (Photo: Paul Sancya, AP) Airbnb for cars? Bloomberg reports that General Motors is planning something similar through its Maven car-sharing platform. The news service, citing unnamed sources, said GM will launch a pilot project this summer. “GM vehicle… Continue reading Could General Motors launch its own Airbnb for cars?
GM may test a carsharing program this summer
Rebecca Cook / Reuters GM’s Maven is basically the equivalent of a car rental service; for a fee, users can borrow a loaded GM vehicle for up to 28 days at a time. Now, it appears that GM may be looking to expand the service. According to Bloomberg, GM will operate pilot program this summer… Continue reading GM may test a carsharing program this summer
BorgWarner’s Latest Eco-Launch™ Stop/start Technology Delivers Quick, Smooth Restarts for Ford FWD Vehicles
AUBURN HILLS, Mich., March 13, 2018 /PRNewswire/ — BorgWarner, a global leader in clean and efficient technology solutions for combustion, hybrid and electric vehicles, helps Ford deliver greater vehicle efficiency with its Eco-Launch™ stop/start solenoid valve and hydraulic accumulator. Engineered to deliver fast, smooth launches during engine restarts, the award-winning solution is available on the… Continue reading BorgWarner’s Latest Eco-Launch™ Stop/start Technology Delivers Quick, Smooth Restarts for Ford FWD Vehicles
Audi profit-sharing bonus increases to €4,770
Audi is ensuring that its employees participate in the company’s success: A skilled worker at AUDI AG will receive a profit-sharing bonus of €4,770 for the 2017 financial year. The amount for this group of employees last year was €3,150. The company will pay out the bonuses to the eligible employees in Germany paid according… Continue reading Audi profit-sharing bonus increases to €4,770
Grab and Chubb sign partnership to provide innovative in-app insurance solutions throughout Southeast Asia
SINGAPORE, March 13, 2018 /PRNewswire/ — Grab, the leading on-demand transportation and fintech platform in Southeast Asia, has announced a partnership with Chubb, the world’s largest publicly traded property and casualty insurance company, to offer insurance solutions for Grab’s driver-partners. Using the Grab app, drivers will be able to select different insurance options to protect their… Continue reading Grab and Chubb sign partnership to provide innovative in-app insurance solutions throughout Southeast Asia
Dongfeng Peugeot-Citroen sales stall on brand confusion
Following a series of management reshuffles and a slow start in the world’s largest market, Dongfeng Peugeot-Citroen Automobile’s sales in China barely made it past the half-way mark of their 2017 target, resulting in substantial losses for the joint venture carmaker. Dongfeng Peugeot-Citroen saw a loss of 30 billion euros ($36.94 billion) last year, despite… Continue reading Dongfeng Peugeot-Citroen sales stall on brand confusion
Lyft says it passed $1 billion in GAAP revenue in 2017
Ride hailing company Lyft says it booked over $1 billion in GAAP revenue for 2018, and showed revenue growth of 168% in Q4 versus the prior year’s quarter. That growth is nearly 3 times as fast as Uber, which saw a 61% increase in revenue in Q4 vs a year ago. It’s also claiming 10… Continue reading Lyft says it passed $1 billion in GAAP revenue in 2017
Lyft says its revenue is growing nearly 3x faster than Uber’s
Lyft made a lot of progress in 2017, helped by strong market expansion within the U.S., and riding some very bad news from its primary rival Uber. That’s helped it grow revenue to over $1 billion as measured by GAAP standards for its fiscal 2017, with a particularly strong Q4 during which its revenue outpaced… Continue reading Lyft says its revenue is growing nearly 3x faster than Uber’s
UPDATE 3-Britain’s Melrose raises GKN bid to $11.2 bln in final offer
LONDON (Reuters) – Melrose Industries (MRON.L) increased its hostile offer for GKN (GKN.L) by around 10 percent to 8.1 billion pounds ($11.2 billion), trying to win over investors after the British engineering firm struck a rival deal of its own last week. GKN’s board unanimously rejected the new bid on Monday saying it continued to… Continue reading UPDATE 3-Britain’s Melrose raises GKN bid to $11.2 bln in final offer