Finance

VW Touts Record Unit Sales, Revenue Gain

February 23, 2018 at 2:23 PM

Volkswagen Group reports its revenue in 2017 climbed 6% to €230.7 billion ($283.7 billion) as unit retail sales rose 4% to a record 10.74 million vehicles.

Business

Reports: Geely Buys 10% Stake in Daimler

February 23, 2018 at 1:32 PM

China’s Zhejiang Geely Holding Group has acquired a 9.7% stake in Daimler AG to make it the German carmaker’s largest single shareholder, according to media reports.

New Product

Nissan Mulls Performance Pickup Truck

February 23, 2018 at 11:55 AM

Nissan Motor Co. is considering an off-road performance version of its NP300 Navara midsize pickup truck to compete with Ford Motor Co.’s upcoming Ranger Raptor model. 

Business

GM Will Ask for Wage Freeze, Benefits Cuts at Korean Unit

February 23, 2018 at 11:12 AM

General Motors Co. will propose freezing worker wages and suspending benefits for some employees to lower costs at its struggling manufacturing unit in South Korea, according to Reuters.

Facilities

Toyota Plans Proving Ground with ‘Ring-like Test Track

February 23, 2018 at 11:01 AM

Toyota Motor Corp. is investing 300 billion yen ($2.8 billion) to build a research and development center in Japan that will focus on electrified and other “green” technologies.

Legal

Congress Ponders New VW Diesel Emissions Probe

February 23, 2018 at 10:39 AM

The U.S. Congress may launch a new investigation into Volkswagen AG’s diesel emission cheating scandal that will focus on executive involvement.

EV-Hybrid

UPS Touts Cost Parity of New Electric Trucks

February 23, 2018 at 10:13 AM

United Parcel Services of America Inc. is adding 50 electric vehicles to its delivery truck fleet that the company says are priced about the same as similar piston-powered trucks.

Business

BMW, Great Wall Aim to Make Mini EVs in China

February 23, 2018 at 8:56 AM

BMW AG has signed a letter of intent with Great Wall Motor Ltd. to form a joint venture that would produce all-electric Mini-badged small cars in China.

Tech

TDK Developing Wireless Charging System for EVs

February 23, 2018 at 2:45 AM

TDK Corp., the Japanese maker of magnets, sensors and electronics, is the latest company to jump into the fledgling market for wireless charging systems for electric vehicles.

Sales

CR: Hyundai’s Genesis Brand Outscores German, Japanese Rivals

February 23, 2018 at 2:24 AM

Hyundai Motor Corp.’s Genesis luxury brand outranked all others in this year’s Consumer Reports ratings of automotive brands sold in the U.S.

Legal

German Court Delays Ruling on Diesel Bans

February 23, 2018 at 1:20 AM

Germany’s highest administrative court in Leipzig says it won’t rule until Feb. 27 on an appeal to overturn temporary city bans on older diesels.

Production

GM Extends Car Production Cutback in Canada

February 23, 2018 at 12:30 AM

General Motors Co. is stretching out a current production cut at its car plant in Oshawa, Ont., by another nine weeks because of slumping demand, according to a Unifor union memo cited by Toronto’s Globe and Mail.