Mini prepares for no-deal Brexit by moving plant shutdown

September 18, 2018 15:35 CET

LONDON — BMW will move the annual maintenance shutdown period for its British Mini plant in Oxford to just after the UK is due to leave the European Union in April, in case there is no Brexit deal.

Automakers generally close their factories over the summer for a few weeks to allow for retooling and repair work as many staff take vacation and sales are at their lowest ebb in the year.

“We have scheduled next year’s annual maintenance period at Mini Continue reading “Mini prepares for no-deal Brexit by moving plant shutdown”

Ferrari CEO cuts profit goal inherited from Marchionne

September 18, 2018 14:48 CET

MILAN — Ferrari cut its long-term profit goal, a month after new CEO Louis Camilleri called the targets of previous management “aspirational.”

Ferrari now expects earnings before interest, tax, depreciation and amortization to be in a range of 1.8 billion to 2 billion euros in 2022, down from the old target of 2 billion euros set by his predecessor Sergio Marchionne, he told investors. The stock fell as much as 3.7 percent in Milan trading before recovering Continue reading “Ferrari CEO cuts profit goal inherited from Marchionne”

Ferrari’s plan through 2022 includes 15 new models, more hybrids, retail price growth

September 18, 2018 14:49 CET

MILAN — Ferrari plans to launch 15 new models by 2022, and the company expects the average retail price for its vehicles to increase “significantly.”

However, Ferrari’s new CEO tempered some of predecessor Sergio Marchionne’s most ambitious goals, softening a key profit target while delaying a long-awaited hybrid SUV by a couple of years.

Ferrari now expects earnings before interest, tax, depreciation and amortization to be in a range of 1.8 billion ($2.1 Continue reading “Ferrari’s plan through 2022 includes 15 new models, more hybrids, retail price growth”

VW, BMW, Daimler face EU probe over collusion on emissions tech

September 18, 2018 11:37 CET

BRUSSELS — The European Commission has opened a formal investigation into whether German automakers BMW, Daimler and Volkswagen Group colluded to avoid competition in developing clean emissions technology.

The Commission, which oversees competition policy in the European Union, said in a statement it was looking into whether the automakers agreed not to compete with each other on developing and rolling out systems to reduce harmful emissions from gasoline Continue reading “VW, BMW, Daimler face EU probe over collusion on emissions tech”

New Audi A6 2018 review

We hit British roads in the all-new Audi A6 to see if it’s got what it takes to be an executive championVerdict4.5Audi has raised its game with this A6; quality, technology, comfort, refinement and performance have all taken a leap forward. It’s a practical and premium car that’s beautifully built, but it’s business as usual when it comes to the driving, because the newcomer isn’t as engaging as a BMW 5 Series. However, company car buyers might prioritise the A6’s strengths ahead of Continue reading “New Audi A6 2018 review”

New Lamborghini Aventador SVJ 2018 review

We get behind the wheel of the new 760bhp Lamborghini Aventador SVJVerdict4It’s testament to Lamborghini’s advanced technology that it has sharpened the venerable Aventador into a machine capable of trading lap times with the fastest cars on sale. That it has achieved this, yet retained the unique flair and character of a true Italian supercar, is reason for car enthusiasts everywhere to rejoice.

The new Aventador SVJ is nothing less than the most potent and advanced car Lamborghini has Continue reading “New Lamborghini Aventador SVJ 2018 review”

Audi e-tron, Lucid investment, and electric-car sharing programs: Today’s Car News

2019 Audi e-tron quattro, in European trim, at San Francisco launch event

The Audi e-tron makes its formal debut as the brand’s first mass-market electric car. Lucid Motors secures funding to build a factory for its car. Electric-car car-sharing programs are poised to expand in the U.S. And we ask if readers would sign up for VW’s electric-car subscription plan in a new Twitter poll. All of this and more on Green Car Reports.

The Audi e-tron debuted with an estimated 250-mile range and a Continue reading “Audi e-tron, Lucid investment, and electric-car sharing programs: Today’s Car News”

Would you buy into a Volkswagen electric-car subscription plan? Take our Twitter poll

Left to right: Volkswagen ID, ID Buzz and ID Crozz concepts

Volkswagen announced in July that it will launch an all-electric car sharing plan in the U.S. in 2020.

Called “WE,” the program is likely to serve as a marketing program for the company’s new line of electric cars, the hatchback ID, and the ID Crozz crossover SUV.

The ID is slated to go into production at the end of 2019, followed by the ID Crozz in 2020—just in time for the U.S. debut of the WE car-sharing service. Continue reading “Would you buy into a Volkswagen electric-car subscription plan? Take our Twitter poll”

Electric car-sharing programs expanding in U.S.

2017 Chevrolet Bolt EV electric car in Maven car-sharing fleet, Los Angeles [photo: Dan MacMedan fo

Electric cars and car sharing go naturally together. Both aim to clean up the environment by reducing gasoline consumption.

With lower maintenance, electric cars are also easier to maintain for fleets than gas cars. Combined with gas cars, car-sharing fleets can also provide a backup for electric-car owners who want occasional access to a larger gas car for vacations or road trips. Continue reading “Electric car-sharing programs expanding in U.S.”

Saudi investment fund takes $1 billion stake in Lucid Motors

Lucid AIr

Lucid Motors announced yesterday that it will receive a $1 billion investment from the Saudi Arabian public investment fund.

Lucid is a Silicon Valley-based electric car builder working on a direct competitor to the Tesla Model S.

In August, Tesla chief executive Elon Musk suggested that he had held talks with the same Saudi investment fund about taking Tesla private. Such a deal would have required significantly more than $1 billion from the Saudi fund.

DON’T MISS: Continue reading “Saudi investment fund takes $1 billion stake in Lucid Motors”