| |
| AUTO |
Edmunds: Many car buyers make wrong turn on financing
August 20, 2017
The advantage of financing a car is that eventually you'll pay it off and enjoy debt-free car ownership. That's why buyers are willing to pay more per month to own than to lease. But many car owners have veered off course. A third of those who come to a dealership with a car to trade in owe more on it than it's worth: $5,143, on average. And so rather than reaching the promised land of car ownership, they wind up wandering in the desert"...
Swiss road agency bans new Porsche Cayenne registrations
August 18, 2017
Switzerland's road agency on Friday imposed a preliminary ban on new registrations of Porsche Cayenne cars equipped with manipulated diesel engine management software. The preliminary ban, imposed on Cayenne cars with three-litre diesel motors of emissions standard euro 6, does not affect cars already registered in Switzerland, the agency said. Sports car maker Porsche AG is owned by Volkswagen , which in 2015 admitted to systematic manipulation of engine management software to cheat emissions tests. Germany in late July announced a recall of affected Porsche Cayenne models after finding potentially illegal emissions controlling software in the vehicles. Germany must eventually follow other European countries in banning new diesel cars, Chancellor Angela Merkel has said, conceding for the first time that diesel's days are numbered in the wake of the emissions scandals. Her comments......
Uber's incoming CEO must fix culture: Nikesh Arora
August 17, 2017
Uber Technologies Inc's next chief executive officer will first need to tackle the ride-hailing giant's chaotic corporate culture, according to Nikesh Arora, former president of SoftBank Group Corp.
The ride-hailing company, which came under fire for a culture that some say failed to punish discrimination"...
Government invites global bids for 10,000 electric cars
August 16, 2017
State-owned Energy Efficiency Services Ltd (EESL) has invited global bids for 10,000 electric sedans that will run up to 150 km on a single charge, for use by government departments, taking a big step to achieve power minister Piyush Goyal’s dream of having only electric cars on Indian streets by 2030.
EESL, which has led government efforts to popularise"...
The Peninsula Classics Best of the Best Award for 2016 Awarded to 1954 Maserati A6GCS/53 Berlinetta by Pinin Farina
August 16, 2017
At a highly-anticipated private gathering during the famed Monterey Car Week, a 1954 Maserati A6GCS/53 Berlinetta by Pinin Farina, from the Monaco-based Destriero Collection, was named winner of the prestigious second-annual The Peninsula Classics Best of the Best Award. Only four Berlinetta-bodied sports cars from Pinin Farina were ever produced, and this exquisite model is considered to be the best preserved, as it is the only one that retains its original chassis and body. Custom ordered by the Roman dealer of the marque, the sports car is based on the very successful 2-liter racing car developed by the Maserati brothers. Its uncompromising sporting style is highly representative of the coachbuilding artistry of the 1950s, helping it win Best in Show at last year’s Concorso d’Eleganza Villa d’Este. Originally debuted at the 1954 Paris Motor show, the automobile was first......
New Honda Jazz global facelift unveiled
August 15, 2017
The new-look Honda Jazz has been revealed ahead of its scheduled global public debut at the 2017 Frankfurt Motor Show – beginning from September 14.
Exterior changes align the Jazz with the latest Honda family style, incorporating the ‘Solid Wing Face’ headlight signature and grille. The front bumper is sharply sculpted, with more aggressive contours around"...
Some divestments good for Tata group says Credit Suisse report
August 14, 2017
Certain divestments cannot be ruled out by the Tatas if they bring significant value to the companies and the group or prevent significant destruction of value says a latest Credit Suisse report. 'There are certain pockets of opportunities for the Tata group to realise value by divesting some of the value destroying businesses such as the European business of Tata Steel, Mundra of Tata Power and Tata Teleservices', the report says. Business as usual is not possible for Tata Teleservices for long given its weak market positioning a challenging environment for telecom operators and a high level of debt on its balance sheet. The street currently assigns a negative value to the Mundra Power project and hence if the company manages to forego the asset without any consideration, this could be value accretive though not easy to do, the report said. Tata Steel's turnaround strategy......
Tata Motors hits fresh 52-week low on poor Q1 show
August 10, 2017
Shares of auto major Tata Motors plummeted over 4 per cent in early trade and fresh 52-week low of Rs 396 despite the company reported 41.54 per cent rise in net profit to Rs 3,199.93 crore for the June quarter of the current fiscal, benefiting from one-time gain relating to changes made to JLR pension plans.
It had posted a consolidated net profit of Rs 2,260.4 crore in"...
Nissan to sell its electric battery business to Chinese firm GSR Capital
August 9, 2017
Nissan Motor Co said on Tuesday it has agreed to sell its electric battery business to Chinese investment firm GSR Capital for an undisclosed sum. The business to be sold to GSR includes battery plants in Tennessee, England and Japan, the Japanese automaker said in a statement. Nissan will first take full control of the business - Automotive Energy Supply Corp - by buying the combined 49 percent minority stake held by NEC Corp and its subsidiary NEC Energy Devices. NEC Corp said it has approved the sale of its stake. Including the NEC stake, GSR Capital has agreed to pay Nissan a total of $1 billion for the deal, according to a person with direct knowledge. A spokesman for Nissan could not be reached for comment. GSR, which has invested in clean technology and electric cars, is also looking to buy a substantial holding in Chile's Sociedad Quimica Y Minera (SQM), one of the world's......
Yamaha Motor Achieves Record First-half Earnings
August 8, 2017
Yamaha Motor Co., Ltd. (TOKYO:7272)(ISIN:JP3942800008) announced today that in the first half of its fiscal year ending December 31, 2017, consolidated net sales of 828.1 billion yen were up 6.4% from the previous year. The company achieved all-time highs in operating income of 82.2 billion yen (up 25.7%), ordinary income of 83.5 billion yen (up 51.1%), and net income for the period attributable to parent company shareholders of 60.8 billion yen (up 87.5%). In emerging markets, motorcycle sales rose and operating income was significantly higher thanks to sales of higher priced products and cost reductions due to the advancement of platform-based products. In developed markets, motorcycles, marine, industrial machinery & robot products and electrically power-assisted bicycles contributed to increased sales and income. Motorcycle net sales rose 6.6%, supported by brisk business in emerging......
|
|
|
|
|