Cars

Federal judge throws out GM's racketeering lawsuit against Fiat Chrysler

Auto Blog News Feed - 10 hours 12 min ago

Filed under: ,,,,

A federal judge on Wednesday threw out a racketeering lawsuit General Motors Co had filed against smaller rival Fiat Chrysler Automobiles NV , saying the No. 1 U.S. automaker's alleged injuries were not caused by FCA's alleged violations. GM officials said in statement they "strongly disagree" with the order by U.S. District Court Judge Paul Borman, whom the automaker had sought to have removed from the case, and would appeal. "There is more than enough evidence from th

Continue reading Federal judge throws out GM's racketeering lawsuit against Fiat Chrysler

Federal judge throws out GM's racketeering lawsuit against Fiat Chrysler originally appeared on Autoblog on Wed, 8 Jul 2020 19:59:00 EDT. Please see our terms for use of feeds.

Permalink |  Email this |  Comments
Categories: Cars

Elon Musk approaches $1.8 billion bonanza

Auto Blog News Feed - 10 hours 18 min ago

Filed under: ,,

Fueled by stronger-than-expected car deliveries, shares of Tesla have surged over 40% in the past seven sessions, elevating the company's market capitalization to $259 billion. More important for Musk's personal finances, Tesla's six-month average market capitalization has reached a record $138 billion. Hitting a six-month average market capitalization of $150 billion would trigger the vesting of the second of 12 tranches of options granted to the billionaire to buy Tesla stock as part of his

Continue reading Elon Musk approaches $1.8 billion bonanza

Elon Musk approaches $1.8 billion bonanza originally appeared on Autoblog on Wed, 8 Jul 2020 19:53:00 EDT. Please see our terms for use of feeds.

Permalink |  Email this |  Comments
Categories: Cars

China's passenger car sales fall 6.5% in June

Auto Blog News Feed - Wed, 07/08/2020 - 13:45

Filed under:

China's passenger car sales in June fell 6.5% year on year to 1.68 million units, the China Passenger Car Association (CPCA) said on Wednesday. Retail sales were in line with expectations and signalled a continuing recovery in the passenger car market, the association said during an online briefing. Luxury automakers' sales outpaced the overall market, CPCA Secretary-General Cui Dongshu said.

Continue reading China's passenger car sales fall 6.5% in June

China's passenger car sales fall 6.5% in June originally appeared on Autoblog on Wed, 8 Jul 2020 08:45:00 EDT. Please see our terms for use of feeds.

Permalink |  Email this |  Comments
Categories: Cars

Daimler to deepen cost cuts after expected quarterly loss

Auto Blog News Feed - Wed, 07/08/2020 - 13:10

Filed under: ,

Daimler will deepen cost cuts because of an expected second-quarter operating loss and despite some signs of a recovery in demand for luxury cars, the chief executive said on Wednesday. Daimler said sales of its Mercedes-Benz brand dropped almost 19% to about 870,000 cars in the first half, although the brand achieved its best second quarter sales so far in China. Despite the rebound in China, the business losses racked up in recent months would not be recovered by the end of the year, demandi

Continue reading Daimler to deepen cost cuts after expected quarterly loss

Daimler to deepen cost cuts after expected quarterly loss originally appeared on Autoblog on Wed, 8 Jul 2020 08:10:00 EDT. Please see our terms for use of feeds.

Permalink |  Email this |  Comments
Categories: Cars

Pages