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BMW profit rises more than expected on new 5-Series sedan – News & Observer

Thursday, August 03, 2017

German luxury automaker BMW says net profit rose 14 percent in the second quarter as earnings were boosted by the new version of the 5-Series sedan. Profit rose to 2.21 billion euros ($2.60 billion) in the April-June period from 1.95 billion euros a year earlier. The profit figure beat analyst expectations for 2.01 billion euros as compiled by financial information provider FactSet. Revenues rose 7.4 percent to 49.2 billion euros….

Audi A4 delivers driver satisfaction – Chicago Sun-Times

Thursday, August 03, 2017

Some drivers consider sport sedans the epitome of automotive excellence. Though generally more expensive than mid-size and some entry-level cars, sport sedans deliver outstanding performance, handling, and braking — satisfaction of the sort that prompts owners to go for a drive for the pure pleasure of it. Such is the case with the tested 2017 Audi A4 2.0T Quattro S tronic. That’s a nomenclature mouthful, but it aptly describes the…

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

Thursday, August 03, 2017

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…

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

Thursday, August 03, 2017

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,”…

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

Thursday, August 03, 2017

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…

Wells Fargo Gets New York Subpoenas Over Auto Insurance Scandal – Bloomberg

Wednesday, August 02, 2017

Wells Fargo & Co., the bank struggling with multiple consumer scandals, was sent subpoenas by two New York regulators over practices in its auto lending unit. Attorney General Eric Schneiderman has issued subpoenas relating to the unnecessary sales of collateral protection insurance, according to a person briefed on the matter, who asked not to be identified because the information wasn’t public. The New York Department of Financial Services also sent…

Auto Sales Contract as Demand Stalls for Trucks and SUVs – New York Times

Wednesday, August 02, 2017

“We know car sales have been down, but the truck part of the market has been stronger, so this is worth watching, to see if it’s a new trend,” said Jessica Caldwell, an analyst at Edmunds.com, a car-information website. “If trucks fall again in August, this could be something to worry about.” An acceleration in the auto-sales slowdown could have important political and economic effects. The auto industry is the…

Auto sales slide again in July – CNNMoney

Wednesday, August 02, 2017

July was another tough month for U.S. automakers. Ford (F)‘s sales dropped 7.5% last month compared to 2016, while Fiat Chrysler (FCAU) posted a 10% decline and General Motors (GM) reported a 15% decrease. U.S. vehicle sales have trailed behind 2016 levels every month this year, but it’s a tough comparison since last year’s car sales hit record highs. If the declines continue, this will be the first year since…

Liverpool defeat hosts Bayern Munich at Audi Cup, face Atletico Madrid next – ESPN FC

Wednesday, August 02, 2017

Paul Mariner feels Liverpool are still quite a few signings away from challenging for the Premier League title. Liverpool maintained their unbeaten preseason record with an impressive 3-0 victory over Bayern Munich at the Allianz Arena in the Audi Cup on Tuesday. First-half goals from Sadio Mane and Mohamed Salah staked Liverpool to a lead, before Daniel Sturridge added a third late on, though he was withdrawn almost immediately after…

Big Three auto sales fall hard in July – Markets Insider

Wednesday, August 02, 2017

Flickr/AllieKF The slump in US auto sales extended into July with the so-called Big Three carmakers reporting declines that were worse than expected. Here’s the scoreboard of year-on-year sales: GM: -15% (-8% expected) Ford: -7.4% (-5.5% expected) Fiat Chrysler: -10.5% (-6.1% expected) Toyota: +3.6% (-3.8% expected) Porsche North America: +0.6% Mitsubishi North America: +1.7% Subaru: +7% BMW: +14.8% Mercedes Benz: -9.2% A recovery in new car sales has pushed down…

Audi to cut gas and diesel R&D in order to fund electric car development with ~$12 billion, report says – Electrek

Tuesday, August 01, 2017

Following the emission test cheating scandal and now allegations that the German automakers created a cartel to deploy their strategy to fake their emission cutting effort, the country’s industry is in a crisis. A likely winner to come on top of this disastrous situation is the electric car segment. German automakers have been investing in the technology in an attempt to distance themselves from diesel. In the latest example of…

Audi to cut gas and diesel R&D in order to fund electric car development with ~$12 billion, report says – Electrek

Monday, July 31, 2017

Following the emission test cheating scandal and now allegations that the German automakers created a cartel to deploy their strategy to fake their emission cutting effort, the country’s industry is in a crisis. A likely winner to come on top of this disastrous situation is the electric car segment. German automakers have been investing in the technology in an attempt to distance themselves from diesel. In the latest example of…

2019 Audi A8 Promises Tidal Wave of Technology – Forbes

Monday, July 31, 2017

Imagine this scenario. Your car is about to have an unavoidable accident and its radar sensors know it’s coming. A computer instantly tells the car’s active suspension system to raise the body by three inches on the side of the impending impact. The result; the crash forces are directed into the floor structure, the strongest part of the car’s body shell, and serious injury or worse is potentially averted. Audi…

It’s absolute fantasy to think we can move to all electric cars without fossil fuels – Telegraph.co.uk

Sunday, July 30, 2017

To the few of us who have long been trying to follow the Government’s woefully unreported plans for Britain’s energy future, the news of the switch in 2040 to electric cars was hardly a surprise. But the full implications of this drive to phase out virtually all use of fossil fuels in the coming decades have not yet begun to sink in. And there are many more shocks to come….

Tesla’s Musk hands over first Model 3 electric cars to early buyers – Reuters

Saturday, July 29, 2017

FREMONT, Calif. (Reuters) – Tesla Chief Executive Officer Elon Musk said on Friday the Model 3 had over half a million advance reservations as he handed over the first 30 to employee buyers, setting the stage for the biggest test yet of the company’s strategy to become a profitable, mass market electric car maker. Outside Tesla’s Fremont, California factory, Musk showed off the $35,000 base vehicle with a range of…

Electric Cars Will Make Britain Poorer – Where’s The Tax Money Going To Come From? – Forbes

Saturday, July 29, 2017

We have a useful reminder that electric cars aren’t going to be quite the economic saviour some seem to think. For the current system of fossil fuel use adds near £30 billion a year to the government’s tax collections. Electric cars are only even potentially cheaper than fossil fuel powered if the power is untaxed, or at least untaxed at these levels. All of which means that if the fleet…

Wells Fargo charged 570000 customers for auto insurance they didn’t need – Washington Post

Saturday, July 29, 2017

(Saul Loeb/AFP via Getty Images) Wells Fargo acknowledged Friday that for six years about 570,000 of its customers were charged for auto insurance they didn’t need, potentially driving some to default on their loan and have their cars repossessed. The San Francisco bank said it would start refunding about $80 million, or about $140 each, to customers next month. The revelation quickly sparked a backlash from lawmakers still angry after Wells Fargo admitted…

How Tesla changed the auto industry forever – The Verge

Saturday, July 29, 2017

With the release of Tesla’s Model 3 tonight to the first 30 customers (really just Tesla employees, according to multiple reports), it’s easy to lose sight of how far this young automaker has come — and how much impact it’s had on the rest of the industry. Most of the commentary around the Model 3 is focused on the stakes for Tesla, and many are parsing over every tweet by…