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Business News - part 7

Cooper Tire Developing Tire Using Domestic Rubber

Cooper Tire Developing Tire Using Domestic Rubber

BUSINESS

Cooper Tire and Rubber Co. is developing a tire that uses 100% domestic rubber.

The company demonstrated a tire made of a Southwestern desert shrub, the guayule plant. A usable tire will be completed in 2017, the company said.

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Ford Taurus May Be Nearing End of North American Run

Ford Taurus May Be Nearing End of North American Run

BUSINESS

  • Taurus supply to dealerships is small
  • Fusion more popular with buyers
  • Ford files patent for autonomous car seating

Ford Motor Co. may be getting ready to discontinue the Taurus for the third time in North America, analysts speculate.

Dealerships are receiving a very small volume of the model.

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Audi Electric SUV to Begin Production in 2018

Audi Electric SUV to Begin Production in 2018

BUSINESS

  • SUV will compete with Tesla
  • Range expected to be more than 300 miles
  • Audi has released product specifications

German luxury automaker Audi AG, a division of Volkswagen, plans to begin production of an electric sports utility vehicle in 2018.

The SUV, the Audi e-tron Quattro, will appear as a concept car at the Frankfort Auto Show Sept. 15.

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German Auto Part Company Buys U.S. Supplier for $513 million

German Auto Part Company Buys U.S. Supplier for $513 million

BUSINESS

German auto parts manufacturer Mann + Hummel has agreed to purchase American auto parts manufacturer Affinia, increasing its annual sales by $1 billion as it enters the U.S. filteration market.

Terms of the deal will not be released, Mann + Hummel said, but according to a regulatory filing the purchase price was $513.1 million plus $822 million in debt.

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Study: Auto Safety Plays Big Role in Customers’ Decision Making

Study: Auto Safety Plays Big Role in Customers’ Decision Making

BUSINESS

Customers are increasing equating safety with satisfaction, according to the annual J.D. Power Automotive Performance, Execution and Layout (APEAL) study.

The study examines how satisfied new-car owners are with their vehicles. It ranks both brands and individual models across 77 categories.

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Cadillac Sets Goal of 500,000 Vehicles Sold Annually by 2020

Cadillac Sets Goal of 500,000 Vehicles Sold Annually by 2020

BUSINESS

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.

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UK to Test Electric Roadway

UK to Test Electric Roadway

BUSINESS

  • 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.

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Chinese Auto Sales Fall to Lowest Level Since 2014

Chinese Auto Sales Fall to Lowest Level Since 2014

BUSINESS

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%.

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Tesla Losing Money with Every Vehicle Sold

Tesla Losing Money with Every Vehicle Sold

BUSINESS

  • 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.

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Researchers Hack Tesla Model S

Researchers Hack Tesla Model S

BUSINESS

  • 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.

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