Business News - part 7
BUSINESS August 13, 2015 | 2:03 PM
- Ranked sixth luxury brand in the U.S.
- Cadillac president says changes need to be made
- Cadillac seeks autonomy from General Motors
General Motor Co.’s luxury brand Cadillac has set the goal of selling 500,000 vehicles worldwide annually by 2020, brand president Johan de Nysschen said.
For 2018, the goal is 350,000 sales and in 2019 400,000.Read more »
BUSINESS August 12, 2015 | 1:26 PM
- Road would charge electric vehicles on the move
- Recharging stations to be installed regardless of test outcome
- Officials say road will have economic benefits
The United Kingdom soon will test an electric roadway that recharges electric and hybrid vehicles equipped with wireless technology while they move.
The test follows a feasibility study conducted by Highways England.Read more »
BUSINESS August 11, 2015 | 2:00 PM
- Several factors contribute to decline
- Chinese economy as a whole is contracting
- Chinese automakers giving buyers incentives
China’s auto market, the largest in the world, has shrunk to its smallest size since February 2014 as customers are buying fewer automobiles.
In July, according to the China Passenger Car Association, deliveries dropped 2.5% to 1.3 million vehicles. The China Association of Automobile Manufacturers (CAAM) reports sales fell 6.6%.Read more »
BUSINESS August 10, 2015 | 4:40 PM
- Report says each car costs company $3,800
- Model X still behind schedule
- CEO confident Tesla will reach production goals
Tesla Motors is losing $3,794 on every Model S sedan it sells, despite $5 billion in U.S. government subsidies, according to a report by Reuters.
To date, Tesla has received $126 million in California subsidies and $1.3 billion from Nevada.Read more »
BUSINESS August 6, 2015 | 2:22 PM
- A laptop needed to compromise system
- Tesla hires expert to work on security
- Tesla revises forecast for deliveries
Researchers have hacked another vehicle, this time the all-electric Tesla Model S.
Researchers Kevin Mahaffey and Marc Rogers were able to gain access to the car by the vehicle’s entertainment system using a laptop.Read more »
BUSINESS August 5, 2015 | 1:32 PM
- The better the economy, the more people drive
- Company to increase premiums
- Crashes can affect drivers’ premiums for several years
The largest publicly traded auto insurer in the United States, Allstate Corp., reported a disappointing second quarter, as net income fell to $355 million.
Shares fell 12%, the largest one day drop since May 2009. For the year, stock values have fallen 13%.Read more »
BUSINESS August 4, 2015 | 1:25 PM
- Sales for most automakers boosted by trucks, SUVs
- Larger vehicles call into question fuel economy
- Luxury-car sales increase
Automakers reported strong July sales in the U.S. boosted by sales of trucks and sport utility vehicles.
Sales were the strongest since before the recession, rising 5% to 1.5 million, according to AutoData Corp., and putting the industry on track to surpass 17 million vehicles in 2015.Read more »
BUSINESS August 3, 2015 | 2:24 PM
- Service first step in connected cars technology
- Partnership keeps technology away from competitors
- Rival TomTom may also sell at some point
Finnish technology company Nokia Oyj has agreed to sell its HERE mapping service to German luxury automakers BMW Group, Daimler AG and Audi AG for $3.07 billion.
Mapping services are needed for autonomous cars, allowing them to calculate routes. The service also is used by transportation companies and smartphone navigation.Read more »
BUSINESS July 30, 2015 | 2:19 PM
- Sensor to collect data for analysis
- Data may one day be incorporated in Google Maps
- Study releases low-pollution cars
Tech giant Google Inc. and environmental sensor network startup Aclima has partnered to equip Google Street View cars with sensors to measure air pollution.
Google’s cars use GPS, lasers and cameras to collect data for Google Maps. Three have been equipped with Aclima’s sensors.Read more »
BUSINESS July 29, 2015 | 1:49 PM
- Tire shipments grew 3.3% in North America from 2014
- Strong dollar reduce profits
- Sales outside North America were weak
Goodyear Tire & Rubber Co, the largest U.S. tire manufacturer by sales, beat analysts’ expectations in the second quarter despite an unfavorable currency exchange rate.
Globally, Goodyear sold 40.8 million tires, a 1% increase, but global revenue decreased 10% to $4.17 billion. Analysts had forecasted $4.13 billionRead more »