Not wanting to be left out of the mobility party, Toyota and Volkswagen recently invested in two ride-sharing companies, becoming the latest automakers to sink cash into the sharing economy.
Toyota invested a rumored $100 million in the ubiquitous ride-sharing company Uber, while Volkswagen, which has to meter out its dough carefully (thanks to a pesky little scandal), dropped $300 million on Uber’s taxi-hailing rival Gett. (Read More…)
Automotive News reports the program could bring as much as $850 million to $1 billion USD “in incremental profit” for the brand’s dealership network over the next four to five years, according to president Johan de Nysschen:
If we want to have a strong brand, we need to have a strong franchise. To do that, it means the dealers are profitable and that they’re able to invest in the business and to build the customer experience.
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Though Fiat Chrysler Automobiles CEO Sergio Marchionne’s five-year plan announced this week may be ambitious, analysts are raising questions about how the plan will be funded — and how much will be needed — if it is to be successful, let alone live up to Marchionne’s vision.
After a two-year break in expansion mandated by Hyundai Motor Company Chairman Chung Mong-koo in order to avoid quality issues experienced by Toyota during their aggressive growing spurt in the 2000s, Hyundai and Kia are both looking through feasibilities studies to determine where to invest in expanding their manufacturing footprint.
Audi’s bio-fuel initiative is expanding into France through an investment by the automaker to Global Bioenergies, whose bio-isooctane could be the replacement for petroleum gasoline when the time comes to make the switch.
With plans to give the world more of their wonders, such as the XL1, Twin Up! and Jetta, through 2018, Volkswagen has opted to shield their product spending from cost-cutting.