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Tesla Shortens Its Name
2/1/2017Today Tesla Motors Inc. shortened its name to Tesla Inc. The change reflects the company’s broadened business scope after acquiring solar panel maker SolarCity Corp. in November.
VW Submits $1.2 Billion Settlement on V-6 Diesels in U.S.
2/1/2017Volkswagen AG has agreed to pay about $1.2 billion to U.S. customers whose Audi and VW vehicles were equipped with V-6 diesels that had been rigged to falsify emission tests.
Bosch Settles U.S. Diesel Cheating Claims
2/1/2017Robert Bosch GmbH has agreed to pay $328 million to resolve claims in the U.S. that it helped Volkswagen AG rig diesel engines to evade emission standards.
Porsche to Add High-Output Panamera Hybrid
2/1/2017Porsche AG is developing a more potent plug-in hybrid version of its Panamera sedan that will be sold alongside the second-generation Panamera 4 E-Hybrid currently being launched in global markets.
Mobility on Demand Market Could Top $275 Billion by 2025
2/1/2017Global sales for so-called mobility-on-demand (MoD) services are expected to grow nearly 20% per year to total about $276 billion by 2025, according to a new report by MarketsandMarkets.
Fourth-Quarter Earnings Jump 86% for Volvo Truck
2/1/2017Cost cutting and a 10% jump in truck orders helped AB Volvo hike its adjusted operating profit in October-December 24% to 5.7 billion kronor ($647 million).
Tesla Model S, BMW i3 EVs Fall Short in IIHS Crash Tests
2/1/2017Two all-electric sedans—the Tesla Model S and BMW i3—have failed to earn the Insurance Institute for Highway Safety’s “Top Safety Pick” rating.
Toyota Urges U.S. Dealers to Oppose Trump Border Tax
2/1/2017Toyota Motor Corp. has urged its retailers in the U.S. to tell their Congressional representatives that the Trump administration’s plan to impose a border tax on all imports will hike car prices.
Chao Confirmed to Head DOT
1/31/2017The U.S. Senate has confirmed Elaine Chao by a 93-6 margin the lead the Dept. of Transportation. Chao is a past deputy secretary for DOT and served as U.S. Secretary of Labor between 2001 and 2009.
Ally’s Earning Drop as Leases and Loans Shrink
1/31/2017Auto retail lending giant Ally Financial Inc. says its net income fell 6% to $248 million in October-December because of higher expenses and a greater provision for lending losses.