Automobile

BLOOMBERG  Audi’s new boss faces a number of pressing issues to fix the premium brand, after years of missteps left Volkswagen AG’s cash cow with a stale model lineup and behind in the shift to electric cars. Gernot Döllner, a 54-year-old VW veteran who wrote his dissertation on speeding up product development, has little time to waste to ensure the ...

BLOOMBERG  Honda Motor Co forecast profit for the current fiscal year that slightly exceeded analyst projections thanks to a recovery in automobile production, drops in some material prices and robust sales of motorcycles in India and Southeast Asia. The Japanese automaker also said in a statement that it plans to buy back as much as $1.5 billion yen of its ...

BLOOMBERG  Tesla Inc’s electric vehicles (EV) took the top four spots on this year’s Cars.com Inc list of the most-American-made cars, the second time in as many years all of the EV-maker’s models ranked in the top ten. Tesla’s Model Y SUV, Model 3 sedan, Model X SUV and Model S sedan ranked in spots one through four, according to ...

BLOOMBERG  Renault’s electric-vehicle (EV) venture is set to be profitable as soon as 2025 with the company readying the Ampere unit for an initial public offering (IPO). The French carmaker also expects to break even on free cash flow by then before raising results to a double-digit operating profit margin by the end of the decade, Renault said. Chief Executive ...

BLOOMBERG Nikola Corp is cutting 270 jobs as the maker of electric big rigs seeks to reduce costs and preserve cash. The move will affect 150 employees supporting European operations and another 120 workers based mostly at sites in Arizona and California, the company said in a statement. Nikola expects to save $50 million annually through the staff reduction, while ...

BLOOMBERG  Toyota Motor Corp posted its biggest two-day gain in three years, fuelled by an aggressive messaging campaign around the Japanese carmaker’s electric-vehicle strategy, a drama-free shareholders’ meeting and a broader global stock rally. Shares in the world’s largest carmaker are up 12%, their biggest jump since March of 2020, with the reappointment of Chairman Akio Toyoda adding to the ...

BLOOMBERG The clouds are finally parting for Tesla Inc investors who stuck with the electric-vehicle maker through a rough ride. A rush of good news for the company and the return of bullish market conviction have put the stock on pace to more than double this year. The Elon Musk-led EV company has added more than $194 billion to its ...

BLOOMBERG  Automakers moving into an electric future are locked in a battle with broadcasters concerned about the potential loss of an aged and fading technology: AM radio. Major carmakers, including Tesla Inc and BMW AG, are omitting AM tuners from electric vehicles, citing electromagnetic interference with the frequencies used by the century-old broadcasting service. AM radio is particularly susceptible to ...

BLOOMBERG General Motors (GM) Co and Stellantis NV paid a combined $363 million in civil penalties for failing to meet US fuel efficiency standards dating back to the Trump administration, according to filings with federal regulators. Stellantis paid more than $123 million in January for missing the mark with its 2018 model year lineup and in excess of $112 million ...

BLOOMBERG  Vietnam’s electric-car maker VinFast recalled all 999 of its initial sport utility vehicles shipped to the US over malfunctioning software that can lead the main screen to go blank. The company can begin delivering an over-the-air software update on Thursday that fixes the issue, according to its defect notice posted to the US National Highway Traffic Safety Administration’s (NHTSA) ...