Mercedes-Benz Group said its preliminary 2021 earnings beat guidance after rising vehicle prices helped the luxury automaker claw its way back from an autumn low point in the global chip crisis. The company said Friday that adjusted returns on sales at its cars and vans segment were 12.7 percent, exceeding guidance of 10 to 12
Month: February 2022
The Nissan Armada could ditch its V-8 engine in favor of a more fuel-efficient V-6 when it’s redesigned, according to a new report. Citing a dealer source, Automotive News (subscription required) reported on Tuesday that a redesigned Armada is due in late 2023 and will feature a twin-turbocharged V-6 as opposed to the current model’s
Ford Motor Company’s ambitious plans for electrification are not restricted to the core Ford brand; luxury arm Lincoln will get a lot of attention, too. The automaker prepares to introduce at least five new battery-powered Lincoln SUVs through 2026, according to a report from Reuters citing three people familiar with the plans. The unnamed sources said
9:46 AM ET Sebastian Vettel was surprised to hear Formula One has removed the pre-race ceremony which allowed drivers to take a knee before races, saying the gesture “was getting a bit too strong for the business side of things”. F1 launched the ‘We Race As One’ initiative in 2020 in solidarity with the anti-racism
Parallel parking is a fact of life in many cities, but unfortunately some people just can’t handle it. That’s clearly the case here as this driver struggles to park between a Cadillac CTS and a Toyota Prius C. While the video starts midway through, the driver inches backwards and slams on the brakes several times.
In this article GPI Demand for used cars remains strong even though the price of preowned vehicles has soared throughout the Covid pandemic, Group 1 Automotive CEO Earl Hesterberg told CNBC on Thursday. Hesterberg said on “The Exchange” that Group 1 has largely been able to raise sticker prices to offset higher acquisition costs because
Uber Technologies Inc. outlined its strategy for growth and new business opportunities during its first investor day as a public company, after teasing news on a global car-sharing network and improved algorithms to keep costs low. Uber on Thursday said it expects $5 billion of adjusted earnings by fiscal 2024, signaling that the ride-hailing giant’s
Mercedes-Benz introduced the A-Class sedan in the U.S. in 2019, hoping to lure millennial buyers to the more than century-old brand with a $30,000 entry-level model. It was supposed to be a key gateway to the brand for younger buyers. The A-Class “will do really, really well … for us,” then Mercedes-Benz USA CEO Dietmar
There’s a message behind Eugene Levy’s flowing hair, leather jacket and bravado in Nissan’s Super Bowl spot. The actor, known for his comedic roles, morphs into an action hero when he gets behind the wheel of the redesigned Z coupe and zooms past a new Nissan entry — the electric Ariya crossover — in the
Ford Motor Co. is looking at flying in some auto parts to a plant in Windsor, Ontario, that produces engines for popular models, an official representing the auto workers union said on Thursday, as automakers and other manufacturers seek alternatives for moving products caught up in Canadian trucking protests. Protesters have occupied key border crossings
By Joey Klender Posted on February 10, 2022 Tesla (NASDAQ:TSLA) revealed in a 13-G filing with the SEC that Vanguard Group, a passive fund manager based out of Malvern, Pennsylvania, has purchased additional shares of the electric automaker’s stock. The filing shows that Vanguard increased its holdings to 62,448,572 aggregate shares owned, making its total
10:20 AM ET Sebastian Vettel has defended FIA race director Michael Masi and said the Australian deserves to keep his job despite botching the finish of last year’s title-deciding Abu Dhabi Grand Prix. Masi implemented the rules incorrectly to force a one-lap sprint race in Abu Dhabi, which helped Max Verstappen overtake Lewis Hamilton to
Reuters Two of the world’s biggest carmakers, Ford and Toyota, say production is being disrupted by trucker protests in Canada. Plants have been forced to shut because car parts are being held up at two US border points blocked by truckers protesting against a vaccine mandate. Canada’s Transport Minister, Omar Alghabra, called it an illegal
In this article 9868-HK A Xpeng P7 car is on display at a Xpeng experience store on December 10, 2021 in Shanghai, China. Wang Gang | Visual China Group | Getty Images Chinese electric vehicle maker Xpeng plans to open its first self-operated store outside of China this week and deepen its retail network with
Uber Technologies Inc. plans to outline its strategy for growth and new business opportunities when it holds its first investor day as a public company on Thursday, after teasing news on a global car-sharing network and improved algorithms to keep costs low. Company executives during a fourth-quarter earnings call on Wednesday said they would provide
Valeo agreed to acquire Siemens’ stake in their 5-year-old electric-car components venture to bolster its position in the rapidly expanding EV market. Valeo will buy the 50 percent holding for 277 million euros ($317 million), the supplier said in a statement. The deal will raise the French company’s net debt by 741 million euros. The
Polestar, the Swedish premium EVvehicle startup backed by Volvo, will join the crowd of automakers pitching EVs during the Super Bowl. The brand, founded in 2017, will run a 30-second spot with a serious message that aims to counter the celebrity-filled, lighthearted Super Bowl spots put out by a spate of brands, including automakers. A
Nissan launched a redesigned Frontier for the 2022 model year, and the new mid-size pickup truck is not only a huge improvement on its predecessor, it also outshines some of the competition. As a result, the new Frontier is likely to appeal to more than just your average work truck buyer. Nissan is well aware
2:48 PM ET Associated Press The Red Bull Formula One team has secured a new title sponsorship worth around $500 million with technology firm Oracle, placing it among the most lucrative commercial deals in sports. The five-year deal is a lift to the team ahead of the season beginning next month when Max Verstappen will
In this article TSLA Transportation Secretary Pete Buttigieg on Wednesday recognized Tesla as a pioneer of electric vehicle manufacturing in the U.S. “We admire the range of American companies that have innovated, including Tesla, which did so much to make EVs possible in America,” Buttigieg said in an interview on CNBC’s “Squawk Box.” “Now it’s
When will consumers be able to own vehicles that allow them to be disengaged from the driving process and fully rely on automated systems to get them where they need to go? Some industry experts and consumers feel that concept is a “Jetsons”-style dream, while others believe it will be reality sooner rather than later.
BERLIN — Production at Tesla’s German factory will not start until mid-March at the earliest, local broadcaster RBB reported. Authorities are currently still reviewing the factory’s safety precautions, RBB reported, without citing any sources. A spokesperson for the state environment ministry said “we do not specify a concrete date,” but “we are in the final
Tesla‘s big sales surge in recent months made the EV maker look like a sure bet to overtake BMW to become the luxury segment leader for 2021. But according to newly released U.S. vehicle registration data from Experian, BMW managed to hang on to its crown for the year. Tesla came in at No. 2,
With spring on the horizon, you might be looking at ways to have a sustainable camping trip once the weather warms up. If so, then the Paxcess 60W solar panel should be folded up and with your camping gear come springtime. It packs 60W DC output at 18V as well as 18W USB-C and 24W
11:02 AM ET Red Bull has launched the car that Max Verstappen will use in his title defence this year. Images of the car and its new livery leaked on social media shortly before the official launch video was aired across various online platforms, including Red Bull Racing’s YouTube account. The Red Bull RB18 in
Road rage incidents are far too common, but one in Boston is raising eyebrows because it involved a police officer. According to the Suffolk County District Attorney’s Office, 37-year old Boston Police Officer Christopher Curtis pleaded guilty to a variety of charges following a road rage incident that occurred on March 1, 2019 while he
In this article BMW-DE Arnold Schwarzenegger and Salma Hayek Pinault star as the Greek gods Zeus and Hera for BMW’s new Super Bowl ad for the iX electric SUV. BMW Arnold Schwarzenegger and Salma Hayek Pinault star as Greek gods in a 60-second Super Bowl ad for BMW’s new iX electric vehicle. The ad features
Here are some of the technologies that are extending the life of the internal combustion engine by making it more efficient.Displacement on demand: Shuts down unneeded cylinders once a vehicle reaches highway speeds. Variable compression ratio: Enables an engine to run more efficiently based on speed and load. Nissan is the only manufacturer to offer
BERLIN — Volkswagen has implemented a quota system in its German retail network for its ID battery-electric cars amid the microchips crunch. VW has been forced to pause production of ID cars on some occasions at its plants in Zwickau and Dresden, Germany because of the global semiconductor shortage. Under the quota system, dealerships with
TOKYO — Lower incentives on American vehicles are helping Honda Motor Co. weather the global semiconductor shortage and COVID-19 pandemic, but the company says there may be some adjustments in store as inventories and supply return to more normal levels this year. In announcing quarterly financial results on Wednesday, the automaker cited the dialed-down spiff
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