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A second Volkswagen employee has pled guilty in US court over Dieselgate – The Verge

The second Volkswagen Group employee to be arrested in the US for his involvement in the company’s emissions cheating scandal has pled guilty in US District Court in Detroit this morning, according to Reuters. Oliver Schmidt, who was arrested back in January, faces up to seven years in prison and fines between $40,000 to $400,000 after pleading guilty to two separate charges: conspiracy to defraud the US government, and violating…

Posted: Friday, August 04, 2017

Volkswagen executive pleads guilty in US emissions cheating scandal – CNBC

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Posted: Friday, August 04, 2017

Brexit uncertainty blamed as UK car sales fall for fourth month – The Guardian

New car sales in the UK have fallen for the fourth month running, as Brexit uncertainty weighs on demand and buyers shun diesel cars in greater numbers. Sales fell 9.3% in July to 161,997 new cars as consumers and businesses grew increasingly reluctant to commit to major spending decisions. “The fall in consumer and business confidence is having a knock-on effect on demand in the new car market and the…

Posted: Friday, August 04, 2017

Toyota and Mazda join forces on electric vehicles. Is this the end of … – Washington Post

  An electric car recharges at the University of Maryland at College Park. (Sarah L. Voisin/The Washington Post) This post has been updated European moves to mark the end of the road for diesel and gas-powered cars are putting pressure on carmakers to not get left behind in the shift towards electric vehicles, analysts said. In a further sign of those pressures, Toyota Motor Corp and Mazda Motor Corp on…

Posted: Friday, August 04, 2017

Volkswagen brand CEO says Tesla has abilities Volkswagen lacks – Reuters

FRANKFURT (Reuters) – Volkswagen (VOWG_p.DE) the world’s largest carmaker by sales, is looking to loss-making startup Tesla (TSLA.O) for inspiration on how to improve its core business, the VW brand’s chief executive Herbert Diess said in an interview published on VW’s website. Asked who VW’s main competitors are, Diess told an internal company publication: “In the old world it is Toyota, Hyundai, and the French carmakers. In the new world…

Posted: Friday, August 04, 2017

Buying its own cars went disastrously wrong for Uber in Singapore – Quartz

Would you be more willing to hail an Uber if the car were owned by Uber rather than a stranger? You might assume a company would be more diligent about vehicle safety checks than an individual, after all. But as the latest scandal shows, that’s not necessarily the case. In Singapore, the ride-hailing company for years purchased vehicles from unauthorized suppliers with lax safety standards, including thousands of cars with…

Posted: Friday, August 04, 2017

Uber knowingly rented out faulty cars, WSJ says; firm says it’s fixed the problem – Reuters

SINGAPORE (Reuters) – Uber Technologies Inc knowingly rented its drivers defective cars at risk of catching fire, the Wall Street Journal reported on Friday, and the ride-hailing firm said it moved to fix the problem after one of the vehicles suffered a fire. The Journal cited internal emails and documents showing Uber’s Singapore unit bought more than 1,000 Vezel sport-utility vehicles that maker Honda Motor Co Ltd had recalled due…

Posted: Friday, August 04, 2017

BMW records sector-leading margins as sales remain strong – Financial Times

BMW records sector-leading margins as sales remain strong

Posted: Thursday, August 03, 2017

BMW profits rise nearly 10% on record sales – Financial Times

BMW profits rise nearly 10% on record sales

Posted: Thursday, August 03, 2017

BMW profit up 13%, helped by Chinese demand – MarketWatch

Luxury car maker BMW AG (BMW.XE) said Thursday its earnings and sales rose in the second quarter, helped by demand in China. Net profit after minorities in the April-through-June period was 2.19 billion euros ($2.59 billion), up 13% from EUR1.94 billion a year earlier. Earnings before interest and taxes rose 7.5% to EUR2.93 billion, beating expectations for EUR2.87 billion. Revenue grew 3.1% to EUR25.8 billion. In the automotive segment, BMW’s…

Posted: Thursday, August 03, 2017

Lakewood dealing with increase of people stealing guns from cars – 9NEWS.com

Gun (Photo: ThinkStock) (Photo: Stefano Garau, Stefano Garau) Investigators with Lakewood Police say they’re concerned about a growing crime: people stealing guns from cars. Since May, more than 20 guns were stolen from private owners in Lakewood, says Agent Lindsay Jones with Lakewood Police. That’s something the department has not seen in years. “In a couple incidents, multiple firearms were stolen so there’s 23 guns at least, still out there,”…

Posted: Thursday, August 03, 2017

SpaceX helped Tesla with a huge headache in its cars – TechCrunch

Tesla reported its second-quarter earnings today, which means a bunch of Wall Street analysts jumped on the phone to probe the ever-quotable Elon Musk — including, believe it or not, about SpaceX. To be sure, it wasn’t specifically about space or flight — it was whether some of the innovations happening at SpaceX can be applied to Tesla. Musk runs both companies, which means it’s not out of the realm…

Posted: Thursday, August 03, 2017

German Automakers to Give 5 Million Diesel Cars New Software – U.S. News & World Report

Posted: Thursday, August 03, 2017

Car Sales Are Falling. This Is Why | Fortune.com – Fortune

It’s been a tough few months in Detroit. After seven years of gangbuster sales, the U.S. auto market is skidding badly. The American car and truck segment is remarkably easy to get a handle on, but a look at some of its indicators may induce some head-scratching. For the past 20 years, the number of licensed drivers has ticked up by about 2 million a year (Uber and Lyft have…

Posted: Thursday, August 03, 2017

Tesla has moved 47000 cars so far this year – The Verge

On the heels of the Model 3 launch last week, Tesla says it is still growing sales of its Model S and Model X amid a soft luxury car market. But boasts of growth don’t make up for the amount of cash the company has burned through to get Model 3 launched by its end of the year target. The automaker issued its latest quarterly earnings report Wednesday, claiming 22,026…

Posted: Thursday, August 03, 2017

U.S. car sales fall sharply in July – USA Today – USA TODAY

x Embed x Share CLOSE Ally Financial CEO Jeffrey Brown has some advice for car buyers. Time Dodge Ram pickup trucks are on display on the lot at Landmark Dodge Chrysler Jeep Ram in Morrow, Ga.(Photo: John Bazemore, AP) Buyers can expect sweeter deals on small and mid-size cars as automakers try to clear out excess inventory amid declining sales, even as larger vehicles continue to sell well. For shoppers, it’s…

Posted: Thursday, August 03, 2017

Exclusive: NY regulator subpoenas Wells Fargo over unwanted auto insurance – Reuters

NEW YORK (Reuters) – New York state’s banking and insurance regulator issued subpoenas on Tuesday to two Wells Fargo & Co units after the bank said it had sold auto insurance to hundreds of thousands of customers who did not need it. The New York Department of Financial Services (NYDFS) is demanding Wells’ loan contracts with New York borrowers, its financing agreements with auto dealers, and agreements between Wells units…

Posted: Wednesday, August 02, 2017

The Real Reason Car Sales Are Falling – Fortune

It’s been a tough few months in Detroit. After seven years of gangbuster sales, the U.S. auto market is skidding badly. The American car and truck segment is remarkably easy to get a handle on, but a look at some of its indicators may induce some head-scratching. For the past 20 years, the number of licensed drivers has ticked up by about 2 million a year (Uber and Lyft have…

Posted: Wednesday, August 02, 2017

German automakers agree to update software of 5 million diesel cars to cut emissions – CNBC

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Posted: Wednesday, August 02, 2017

Volkswagen Asks US Judge to Toss Wyoming Environmental Lawsuit – New York Times

Volkswagen has settled with Wyoming and most other states over consumer claims for more than $600 million but not over environmental matters. Federal law allows California and states that adopt its emissions rules to enforce vehicle rules. Volkswagen has settled environmental claims with most of those states. Newsletter Sign Up Continue reading the main story Thank you for subscribing. An error has occurred. Please try again later. You are already…

Posted: Wednesday, August 02, 2017