Auto Sector

Tesla Motors beats Car-Sales Forecast for Q2

Tesla Motors beats Car-Sales Forecast for Q2

Tesla Motors has reported that it has beaten its car-sales prediction for the second consecutive quarter. The electric car-maker has witnessed a 52% rise in the second quarter of the year.

The shares of the company increased 4% amounting to $280.02. This year, Tesla has jumped 26%. In the second quarter, the company has sold 11,507 Model S sedans. In May, the company has predicted that it would be able to sell 10,000 to 11,000 of the cars, its only model, in the second quarter.

It is said that the output as well as deliveries will increase once the Model X sport utility vehicle will be introduced this quarter. Dan Dolev, a Jefferies LLC analyst, said that there are many expectations from the Model X and the company has to fulfill those expectations.

Strong Sales in First Six Months increase manufacturers’ confidence to have even Better Finish to Year

Strong Sales in First Six Months increase manufacturers’ confidence to have even

Things have been going smooth when it comes to auto industry. On Wednesday, automakers posted good US vehicle sales for June. They have even predicted that things will further improve as the year approaches its end.

Experts have affirmed that there are a number of factors driving up the sales of vehicles. To cite an example, low gasoline prices and interest rates have been boosting sales of sport utility vehicles.

“Auto sales continue to push higher and are slated to have one of the strongest years ever. Demand for SUVs and trucks continue to drive the market, which resulted in several top automakers posting higher sales”, said Mark Williams, an analyst for Kelley Blue Book.

Ford Invites its Customers to Rent their Vehicles

Ford to invite its customers to rent their vehicles

A total of 14,000 people in the US who made use of Ford Credit to purchase their cars will be invited for the pilot program. Ford Motor Credit will be collaborating with two car-sharing companies, Getaround in the US and easyCar Club in London.

As per Ford, over the next five years, it is looking forward to increase research on advanced safety technology, together with automatic braking for its vehicle range. According to the company, “As most vehicles are parked and out of use much of the time, this can help us gauge our customers’ desires to pick up extra cash and keep their vehicles in use”.

Goldman Sachs Group Inc. Flips Its Preference to Ford

Goldman Sachs Group Inc. Flips Its Preference to Ford

According to the experts at Goldman Sachs, it is high time to put brakes on General Motors and rev up the engines at Ford.

Goldman, in a research note on Tuesday after the close in New York said that Ford will benefit in this year’s second half from the redesigned F-150 pickups. The company is also showing improvement in China.

GM’s incentives on light trucks are climbing because of competition, and the Detroit-based company may miss its forecasts in China as that market weakens, according to the note.

It has been said that Goldman analysts Patrick Archambault and David Tamberrino raised Dearborn, Michigan-based Ford to buy from neutral and increased its 12-month price target for the shares to $19 from $18.

Ford Invites its Customers to Rent their Vehicles

Ford Invites its Customers to Rent their Vehicles

It is known that Ford’s main business is to sell cars, but it also operates a number of other services. Its app-based GoDrive service already allows Brits to rent a car on a pay-as-you-go basis. Now, the company is asking its US and UK customers to rent their own vehicles out to other people and offset the money against their car payments.

The company is inviting approximately 12,000 Londoners and a further 14,000 US customers from Berkeley, Oakland, San Francisco, Portland, Chicago and Washington D.C. to join its new scheme.

In the United Kingdom, the company has joined hands with easyCar Club, a sister company of budget airline easyJet, to provide on-demand cars for younger drivers.

Jaguar Land Rover researches on NASA tech to monitor brain waves of Drivers

Jaguar Land Rover researches on NASA tech to monitor brain waves of Drivers

According to UK car manufacturer Jaguar Land Rover, it is working on to find how the steering wheel and the car seat could be used to detect fickle levels of driver concentration in addition to their heart rate and breathing.

According to the company, sensors in the steering wheel could be employed for measuring a driver's brainwaves. It is known that human brains have a tendency to generate four or more distinct brainwaves at different frequencies. An on-board computer can assess if a driver is focused, sleepy, daydreaming, or distracted by detecting which type of brainwave is dominant.

Lyft to Pay $300,000 to Settle San-Francisco Case

Lyft to Pay $300,000 to Settle San-Francisco Case

Lyft, the San-Francisco based transportation network company, will be paying $300,000 to settle allegations that it violated state laws.

The state’s attorney general's office sued Lyft last summer for operating in the state without requiring its drivers to have commercial licenses or proper insurance.

As part of the settlement, Lyft has agreed to follow vehicle-for-hire laws in the state, Attorney General Eric Schneiderman's office said Thursday.

The company said in a statement that its drivers are ordinary people who agree to a background check and use their personal cars to pick up Lyft customers.

According to the state’s rule, Lyft cannot start providing services in that manner since the state requires the drivers to have a commercial license and insurance.

Porsche once again emerges as the best for Quality

Porsche once again emerges as the best for Quality

Porsche has once again turned to be the top brand for quality in the 2015 survey involving more than 84,000 car buyers. The survey was conducted in February and March by the J. D. Power consulting firm.

Kia and Jaguar were in second and third place respectively while Kia's sister brand Hyundai was at fourth. Infiniti rounded out the top five finishers in the survey.

The worst-performing brands were Fiat, Smart, Chrysler, Subaru and Jeep. According to John Humphreys, senior vice president of JD Power, the Korean brands have been improving quality for years. They are bringing consumers into the process as they design cars, especially with electronics.

Toyota Motor shareholders approve Controversial New Share Sale

Toyota Motor shareholders approve Controversial New Share Sale

A controversial share sale been defended by Toyota Motor, and critics have called the move a measure to tame shareholder activism. According to the world's biggest carmaker, 75% of shareholders had casted their votes in favor of the plan on Tuesday.

As per the plan, 500 million shares will be sold and they must be held for five years. Also, the shares will not be publicly traded.

GM to cut production at Orion plant

GM to cut production at Orion plant

It has been announced by General Motors that it is cutting down production of its Chevrolet Sonic and Buick Verano cars as demand in the US has fallen on the whole for smaller vehicles.

According to GM spokesman Bill Grotz, nearly two-thirds of GM's North American vehicle assembly plants will be closed during the summer months. Grotz said that earlier, for model year changeover, most plants used to shut down in early July, however now it is decided on the basis of specific vehicle lifecycle and market demand.

Tesla will not sell cars directly in Texas

Tesla will not sell cars directly in Texas

Tesla will not be able to sell its cars directly to the consumers in Texas. The company was selling cars directly in Texas, but now it has been stopped from doing so till 2017. The Texas State Legislature received two separate bills related to car sales in Texas. But the things did not work. Now, the voting could be conducted only after two years.

According to Diarmuid O'Connell, vice president of business development for Tesla, which is based in Palo Alto, California, "They are thwarting the will of the people. It doesn't even get a fair hearing -- much less a vote -- is to me very odd and disturbing".

GM to enable control by voice commands

GM to enable control by voice commands

General Motors Co. is going to enable owners of many Chevrolet models to use voice commands for controlling Apple and Android applications on smartphones.

On Wednesday, GM said that the program, which is going to start this summer, includes the redesigned 2016 Cruze small car that will make a debut in June.

Almost all of Chevy's 2016 vehicles will be able to use the brand's MyLink infotainment system for accessing Apple Inc.'s CarPlay. Six models will be set up to work with Google Inc.'s Android Auto.

GM to Pump in $1.2 billion in its Fort Wayne Facility

GM to Pump in $1.2 billion in its Fort Wayne Facility

Scaling new heights ever since its federal bailout in 2008, General Motors has added another feather to its cap. The company announced on Tuesday, that it would make an investment of $1.2 billion in its Fort Wayne, Indiana assembly plant.

General Motors Company, commonly known as GM, is an American multinational corporation headquartered in Detroit, Michigan, that designs, manufactures, markets and distributes vehicles and vehicle parts. Presently, GM produces vehicles in 37 countries under thirteen brands.

Elon Musk unveils home battery that stores electricity from renewable energy sources

Elon Musk unveils home battery that stores electricity from renewable energy

Tesla founder Elon Musk unveiled plan to power the world with a new design of home battery called the Powerwall.

The Tesla Powerwall produced at Tesla's new Nevada Gigafactory being represented as a breakthrough in ‘distributed energy’. Musk said that Tesla Energy would help reduce carbon footprint as consumers will be less dependent on the grid and can generate energy with their solar panels.

The battery would be available in ‘three or four months’ via various installation partners and cost around $3500.

The Tesla Powerwall can be used to charge up battery on solar panels or windmills during the day. It could also be used to run house overnight or provide backup power in the event of a regular grid power outage.

Over 100 people died due to Criminal Wrongdoing by GM

Over 100 people died due to Criminal Wrongdoing by GM

General Motors ignition switch case could lead to massive troubles for the automobile giant. New York Times reported on Friday that more than hundred people lost their lives due to criminal wrongdoing by vehicle manufacturing company General Motors (GM).

The finding by the United States Justice Department could put the Detroit headquartered GM on a path to pay a huge fine. Earlier, the company said that it was paying a huge amount to victims. In addition, the company also announced to replace more than 2 million ignition switches in the older version of the car.

Driverless Cars Get another Entrant - Uber Cabs

Driverless Cars Get another Entrant - Uber Cabs

Self-driving car efforts got yet another proponent with Uber’s test cars marked ‘Uber Advanced Technologies Center’ driving around the city, with Uber attempting to deploy a fleet of self-driving cars to eliminate the biggest cost: the actual drivers.

In a bid to offer economical and competitive prices, Uber is testing the autonomous car technology on the public roads of Pittsburgh, near its new research institute at Carnegie Mellon University, Center for Advanced Technologies (CAT).

Leap Transit announces to suspend its Services

Leap Transit announces to suspend its Services

According to reports, private bus company Leap Transit has announced to suspend its operations. Earlier, the company received a cease and desist order because it lacked in having proper permits.

On Tuesday, the company, a luxury private bus company in San Francisco which transports passengers from the Marina District to downtown and back again, announced that its operations will be suspended until about the end of the week. The company stated that that the decision has been taken after receiving the cease and desist order from the California Public Utilities Commission.

Air-Bag Recall expands to 34 million cars as Takata admits defects

Air-Bag Recall expands to 34 million cars as Takata admits defects

In the largest automotive recall in US history, it has been decided that car makers will fix faulty air bags in around 34 million vehicles after Japanese parts supplier Takata Corp. bowed to pressure from regulators on Tuesday.

The move has doubled the number of vehicles already targeted by the recall, which has aimed at repairing malfunctioning air-bag inflaters that can explode and send shrapnel flying into cars.

The recall is expected to be conducted by up to 11 auto makers, would be one of the largest actions for any industry. In the early 1980s, around 31 million bottles of Tylenol were recalled.

Driverless Cars to be a Reality This Summer

Driverless Cars to be a Reality This Summer

Technology takes a giant leap forward as the latest version of Google's self-driving car will debut on public roads this summer.

The two-seater driverless car needs no gas pedal or steering wheel and has to be recharged after every 80 miles. The car lacks air bags; it can't go more than 25 miles per hour and is not apt for a long ride. These cars have been assembled in suburban Detroit by Roush Industries and have the same array of radars, lasers and cameras as Google's Lexus SUVs.

Google informed that this prototype is the first vehicle built from scratch for the purpose of self-driving. It looks like a ‘Smart car’, with a shiny black bowler hat to hide its sensors, and it can drive, brake and recognize road hazards without human intervention.

Volvo to open First US Factory in South Carolina

Volvo to open First US Factory in South Carolina

Volvo has become the latest automobile major to place a bet on South Carolina by picking Berkeley County to locate a $500 million assembly plant, having close access to critical shipping ports.

The main aim of the Chinese-owned auto maker is to nearly double the global sales by 2020. Since taking control of Volvo in 2012, Chief Executive Håkan Samuelsson has repeatedly defended the auto maker's decision to continue selling cars in the US regardless of sales decline and red ink in the region.

Earlier this year, Daimler AG's Mercedes-Benz made an announcement of $500 million van factory near Charleston.

According to the SC Automotive Council, BMW AG has been operating a plant in Spartanburg, which buoys a South Carolina automotive industry, employing 46,000 people.




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