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There’s happy faces inside the Renaissance Center today.
General Motors saw its first-quarter pretax profit rise 28 percent, despite continuing trouble in foreign markets, Automotive News has reported.
A net income of $1.95 billion means investors will reap $32.66 a share, a 1.5 percent increase. Revenue was up four percent in the first quarter, at $37.27 billion. Read More >
Jaguar’s design chief just broke the hearts of that tiny, tiny group of enthusiasts who were holding out for a new Jaguar wagon.
Ian Callum threw an ice cold pot of tea onto speculation that the British automaker would offer a wagon version of one of its new sedans, telling a group of auto journos in London that they were done with estate cars, Automotive News Europe has reported.
The reason for this has a lot to do with why Callum and the journalists were in the same room. The event concerned the 2017 Jaguar F-Pace, the automaker’s first crossover SUV. Read More >
When you’re in conversation with a self-described urbanist, it’s usually impossible to avoid numerous references to Amsterdam, that progressive utopia of bikes, tulips, marijuana-smoking tourists, and more bikes.
Well, expect to hear about it even more, now that Dutch parliament has passed a Dutch Labor Party motion to ban the sale of internal combustion vehicles in that country after 2025, according to Auto Express. The bill, which requires senate approval to become the law of the land, would see existing gas and diesel vehicles grandfathered, and the sale of new ones banned. Read More >
Despite sharing the comfort of a corporate umbrella, it seems that two standoffish German luxury makes are now pushing the beds together.
According to the German publication Autobild (via Autoguide), Audi is tapping Porsche’s expertise to develop a new performance vehicle, designed to occupy the vast gap between the TT and R8 supercar. Read More >
Executives at Mini are busy mulling what to introduce next, and it’s increasingly looking like that model will have a trunk.
Unlike a car modeled after a young man wearing a backward ballcap, a sedan is a logical addition to the brand’s future lineup, and comments made to Autocar by Ralph Mahler, vice-president of product development, make it clear there’s a serious business case for a three-box Mini.
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That’s the sound of a sad trombone playing.
Dodgy offshore tax havens get a lot of press lately, but what about mass movements of capital to friendlier shores that hide in plain sight? The New York Times has a heartbreaking story today of young Chinese adults in Vancouver, Canada who just can’t figure out what to do with all that cash their fathers earned.
They do know one thing it’s good for: obscene quantities of ultra-high-end cars.
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Sergio Marchionne, wearer of many hats, appears poised to don yet another cappello.
Following the departure of former Ferrari chairman Luca di Montezemolo, who high-tailed it in 2014 due to clashes with Marchionne over company strategy, Bloomberg is reporting that current Ferrari CEO Amedeo Felisa is planning to retire after the nomination of a new board of directors, expected sometime this week.
Felisa does plan to stay as a board member, but this change will leave the role of CEO vacant … and we all know how much Sergio loves to be the Big Boss of Things. Read More >
Volkswagen CEO Matthias Müller is expected to cave to shareholder and labor pressure today and ask that his management board agree to trim their bonuses by 30 percent, insider sources have told Reuters.
Will it satisfy dealers and vehicle owners stuck with depreciated rolling stock? Not. Bloody. Likely.
The request, if it comes to pass, comes after workers unions and the state of Lower Saxony (Volkswagen’s home and its second-largest shareholder) protested the idea of senior management receiving full compensation while the diesel emissions scandal continues to rage.
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The Italian coachbuilding industry took a massive hit during the latest global recession. Storied marques such as Bertone disappeared into the ether under the crushing pressures of debt and a shifting automotive industry that had become more self-sufficient.
Now, some eight years after the beginning of the recession, the Italian coachbuilding industry is making a fantastic comeback — albeit, at a cost.
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The Napleton Automotive Group of Illinois tread a well-worn path to its lawyers yesterday, this time filing a suit against Volkswagen for damaging its business model.
Three Volkswagen dealerships owned by Napelton filed the suit, which seeks class-action status, alleging the automaker’s diesel emissions scandal amounts to “criminal racketeering,” Automotive News has reported.
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