Monster cartel charge puts brakes on BMW earnings
German high-end carmaker BMW on Tuesday reported a plunge in profits in the first quarter as it booked a 1.4-billion-euro ($1.6 billion) charge related to an EU cartel probe.
German high-end carmaker BMW on Tuesday reported a plunge in profits in the first quarter as it booked a 1.4-billion-euro ($1.6 billion) charge related to an EU cartel probe.
Automotive
May 7, 2019
0
8
US authorities have opened a criminal probe into Ford's emissions certification process, the automaker said Friday.
Automotive
Apr 26, 2019
0
3
German automaker BMW said Wednesday that profits in 2019 would be "well below" last year's and that it planned to cut 12 billion euros ($13.6 billion) in costs by the end of 2022 to offset spending on new technology.
Business
Mar 20, 2019
0
10
The next generation of Porsche's popular SUV, the Macan, will be completely electric, company officials announced recently.
Energy & Green Tech
Feb 28, 2019
0
8
That holiday trip over the river and through the woods to grandmother's house could turn into nice little gift for automakers as they increasingly collect oodles and oodles of data about the driver.
Automotive
Dec 22, 2018
25
160
A scale model of a flying drone-car drove and hovered across an Amsterdam exhibition hall Tuesday, providing a glimpse of what could be the future of urban mobility.
Engineering
Nov 27, 2018
1
3
In a renovated old cash register factory in suburban Detroit, 300 engineers are toiling away on an all-electric pickup truck and an SUV that they hope can take on Tesla.
Business
Nov 26, 2018
0
6
Volkswagen intends to invest 44 billion euros ($50 billion) in the electric and autonomous car technologies expected to reshape the industry—and said it would make battery-powered vehicles more accessible to mass-market ...
Automotive
Nov 16, 2018
3
5
Japan's Honda Motor said Tuesday it was raising annual forecasts after first-half profits rose over 19 percent on brisk sales of motorcycles in Asia.
Automotive
Oct 30, 2018
0
5
European Union officials are pushing ahead with tougher car emissions standards aimed at fighting global warming—but which auto industry representatives said could hurt a major source of manufacturing jobs.
Automotive
Oct 10, 2018
0
5
The automotive industry designs, develops, manufactures, markets, and sells the world's motor vehicles. In 2008, more than 70 million motor vehicles, including cars and commercial vehicles were produced worldwide.
In 2007, a total of 71.9 million new automobiles were sold worldwide: 22.9 million in Europe, 21.4 million in Asia-Pacific, 19.4 million in USA and Canada, 4.4 million in Latin America, 2.4 million in the Middle East and 1.4 million in Africa. The markets in North America and Japan were stagnant, while those in South America and Asia grew strongly. Of the major markets, Russia, Brazil, India and China saw the most rapid growth.
About 250 million vehicles are in use in the United States. Around the world, there were about 806 million cars and light trucks on the road in 2007; they burn over 260 billion gallons of gasoline and diesel fuel yearly. The numbers are increasing rapidly, especially in China and India. In the opinion of some, urban transport systems based around the car have proved unsustainable, consuming excessive energy, affecting the health of populations, and delivering a declining level of service despite increasing investments. Many of these negative impacts fall disproportionately on those social groups who are also least likely to own and drive cars. The sustainable transport movement focuses on solutions to these problems.
In 2008, with rapidly rising oil prices, industries such as the automotive industry, are experiencing a combination of pricing pressures from raw material costs and changes in consumer buying habits. The industry is also facing increasing external competition from the public transport sector, as consumers re-evaluate their private vehicle usage. Roughly half of the US's fifty one light vehicle plants are projected to permanently close in the coming years with the loss of another 200,000 jobs in the sector, on top of the 560,000 jobs lost this decade. As a result, in 2009, China became the largest automobile market in the world.
This text uses material from Wikipedia, licensed under CC BY-SA