|Bid||63.69 x 0|
|Ask||63.73 x 0|
|Day's Range||63.43 - 64.06|
|52 Week Range||61.14 - 86.74|
|Beta (3Y Monthly)||0.96|
|PE Ratio (TTM)||5.88|
|Earnings Date||Aug 1, 2019|
|Forward Dividend & Yield||3.50 (5.64%)|
|1y Target Est||93.69|
(Bloomberg) -- Automakers won control over a choice swath of wireless spectrum 20 years ago on the promise of delivering safety innovations to vehicles.Now, after failing to deliver widespread breakthroughs, they’re at risk of losing those frequencies to Comcast Corp. and other cable companies that say they can use them to offer robust Wi-Fi links to subscribers.The years-long struggle between the industries is nearing an inflection point, with Federal Communications Commission Chairman Ajit Pai signaling he may consider new uses for the airwaves. Pai could announce as early as Tuesday that he’ll schedule a vote to re-examine the allocation at the commission’s meeting next month.“The spectrum, for 22 years, has not reached its highest valued use, and that’s part of the reason why I think it’s important to have an open conversation,” Pai said at a Senate hearing last week. “I’m not saying what the answer should be, I’m simply saying let’s ask the questions that would enable us to have an informed conversation.”That conversation has already kicked off a flurry of activity by stakeholders. A team at Ford Motor Co. gave Pai a ride in a specially outfitted F-150 pickup truck earlier this month. The idea was to demonstrate the technology that could, for example, warn of a scooter’s approach or judge when it’s safe to enter an intersection.“Grateful to Ford for showing us a glimpse of the future,” Pai said in a tweet after his parking-lot spin. “It’s important to have an open conversation about the future of this band” of airwaves.Ford and other carmakers including BMW AG and Toyota Motor Corp., don’t want to lose the rights they gained in 1999 from the FCC for a system designed to link cars, roadside beacons and traffic lights into a seamless wireless communication web to avoid collisions and heed speed limits.Yet after nearly two decades, deployments have been few. An Obama administration proposal to mandate the technology in new cars has been left to languish under the deregulatory agenda pursued by President Donald Trump. General Motors Co. introduced the first factory-equipped model, a Cadillac sedan, just two years ago. And in April, Toyota scrapped plans to equip its cars with the systems starting in 2021.Now even automakers are moving away the original system, and see greater promise in a newer method based on cellular radios -- the system in the F-150 that Ford showed off for the FCC’s Pai. Ford plans to begin equipping all of its U.S. vehicles with the systems starting in 2022.That is an issue for carmakers as the 1999 allocation of airwaves by the FCC locked them into the system envisioned then. They need new rules to use a cellular system, which is backed by several companies including Ford, Audi AG and gear maker Qualcomm Inc.Ford, in a statement, said it is “critical” for the FCC to allow the newer, cellular-based method to use the airwaves because it will become the dominant technology to connect vehicles, infrastructure and pedestrians.Cable providers have pounced, characterizing the currently mandated system as fostering “two decades of stagnation.”They’ve called for ending carmakers’ exclusive rights to the frequencies at 5.9 GHz and allocating all or most of the band to the Wi-Fi systems that carry web traffic for most cable customers.Some consumer groups agree. They include the Consumer Federation of America, the American Library Association, Public Knowledge and the Open Technology Institute at New America.“The best outcome for consumers is to move vehicle safety signaling to a different set of frequencies and allow next generation Wi-Fi to use 5.9 GHz,” Michael Calabrese, director of the Wireless Future Project at the Open Technology Institute, said in an email.Pai controls the FCC’s agenda, and his impatience ushers in a moment of promise -- and peril.“We could maintain the status quo” but “I am quite skeptical that this is a good idea,” Pai said in a speech last month to a gathering that celebrated the Wi-Fi signals used for connections in hotel lobbies, coffee shops and homes.Pai said it would take a formal rulemaking to allow greater Wi-Fi use of the swath, or to let automakers exploit the band for the cellular safety system.Skepticism has arisen within the Trump administration. Transportation Secretary Elaine Chao telephoned Pai to urge the FCC not to use its June meeting to commence its consideration of the airwaves, according to one official briefed on the matter who spoke on condition of anonymity because the conversation wasn’t public.While Transportation Department officials haven’t advanced the previous administration’s proposed mandate, they want autos to hold onto the airwaves.“Preserving the spectrum for transportation safety, which can save lives, is probably more important than slightly faster Wi-Fi,” Derek Kan, the Transportation Department’s undersecretary for policy, said in an interview June 3.To contact the reporters on this story: Todd Shields in Washington at firstname.lastname@example.org;Ryan Beene in Washington at email@example.comTo contact the editors responsible for this story: Jon Morgan at firstname.lastname@example.org, Elizabeth Wasserman, John HarneyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
In a letter to California Governor Gavin Newsom signed by 17 major automakers including General Motors Co, Toyota Motor Corp and Volkswagen AG, the companies urged a compromise "midway" between the Obama era standards that require annual decreases of about 5% in emissions and the Trump administration's proposal that would freeze vehicle emissions requirements at 2020 levels through 2026. The automakers are making a last-ditch appeal to try to revive talks in order to avoid years of uncertainty over what rules they will face.
BMW sees no reason to change its plans for Mexico in the wake of U.S. threats to slap duties on Mexican imports, a board member of the German carmaker said on Thursday, adding the company sells cars globally despite tariffs placed by most countries on imported vehicles. The automaker also foresees no immediate change to its investment plans for North America, said Oliver Zipse, BMW board member in charge of production. Zipse was in the central Mexican city of San Luis Potosi for the inauguration of a $1 billion BMW plant.
Moody's Investors Service has assigned provisional ratings of (P) Aaa (sf) to the 2019-1 senior notes to be issued by BMW Canada Auto Trust (BMWCAT 2019-1). The rated notes are collateralized by a pool of closed-end retail automobile lease contracts and related new BMW motor vehicles. All leases were originated by BMW dealers, in accordance with underwriting standards of BMW Canada Inc. (BMW Canada).
BMW will maintain its investment plans for the North American region despite threats by U.S. President Donald Trump to impose tariffs on Mexican exports to the United States, a board member of the German carmaker said on Thursday. BMW also sees no reason to change the firm's plans for Mexico at the moment, said Oliver Zipse, BMW board member in charge of production. Zipse was in the central Mexican city of San Luis Potosi for the inauguration of a new BMW plant.
BMW spent about $1 billion on the plant, set in the vast arid plains of San Luis Potosi in north-central Mexico. The timing comes just days after President Trump threatened to impose a 5% tariff on all goods imported from Mexico on June 10, unless that country takes unspecified steps to stop illegal migration from Central America.
A JLR spokesperson would not comment on specific details about the plans whenasked if Jaguar will stick with the architecture it created for its first all-electric vehicle, the I-Pace
Jaguar Land Rover, owned by India’s Tata Motors Ltd., will cooperate on BMW’s fifth generation of electric drive technology, the companies said in a statement on Wednesday. It forms the backbone of a BMW electric model offensive set to start next year with the introduction of an electric X3 sports utility vehicle.
Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Sonic Automotive, Inc. New York, May 31, 2019 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Sonic Automotive, Inc. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.
Does the May share price for Bayerische Motoren Werke Aktiengesellschaft (FRA:BMW) reflect what it's really worth...
Germany will extend for another year a bonus scheme to encourage people to buy electric cars, Die Welt newspaper reported on Thursday, another sign of Berlin's eagerness to support a sector in which it lags U.S. and Asian rivals. The newspaper said the cash-for-clunkers bonus, first introduced as a stimulus measure after the post-2008 economic slowdown6, would be extended until 2020, with buyers getting up to 4,000 euros ($4,455) cashback on some kinds of electric cars. The bonus scheme currently being extended, specifically targeting electric vehicles, was introduced for three years in 2016.
Developers of a multi-rotor hover craft billed as the first flying vehicle to be powered by hydrogen fuel cells unveiled a full-scale model on Wednesday in Southern California, in a show-and-tell that raised some eyebrows but never left the ground. A mockup of the futuristic aircraft, dubbed "Skai" by its inventors, was put on exhibit for investors, the news media and other invited guests outside the BMW Group's Designworks studio in Newbury Park, a suburb north of Los Angeles. Engineering and avionics for the drone-like vehicle were developed by Alaka'i Technologies, a privately held company based in Massachusetts but named for a tropical forest in Hawaii ranked as one of the wettest spots on Earth.
FRANKFURT/DETROIT, May 29 (Reuters) - Fiat Chrysler Automobiles NV and Renault SA promise huge savings from a mega-merger, but such combinations face tall odds because of the industry’s long product cycles and problems translating deal blueprints into real world success, industry veterans told Reuters. Renault and Nissan Motor Co, which have been in an alliance since 1999 designed to share vehicle components, have only managed to use common vehicle platforms in 35% of Nissan's products despite an original target of 70%, according to Morgan Stanley.
Audi is also mulling an end to the $170,000 R8 sports car as Volkswagen’s biggest profit generator focuses resources on the rollout of 20 fully-electric cars by 2025. Sales of electrified vehicles, which include hybrids, are set to account for 40% of deliveries by then, Audi said Thursday at its annual shareholders meeting in Neckarsulm, Germany. “We’re shedding old baggage,” Chief Financial Officer Alexander Seitz said.
Germany's export-oriented car industry will not see a significant recovery from its current slowdown, the chief economist of Germany's Ifo institute said on Thursday. Germany's export dynamic is very weak, Klaus Wohlrabe said as the institute's business climate index, a key indicator of the economic sentiment in Europe's biggest economy, fell more than expected in May.
Bidding farewell to the company he led for more than a decade, Daimler AG Chief Executive Officer Dieter Zetsche urged sweeping cost cuts to prepare the carmaker for unprecedented industry upheaval. “Everything is under scrutiny,” Zetsche said Wednesday at the annual shareholder meeting in Berlin, citing costs, investments and the Mercedes-Benz maker’s product range. The walrus-mustached Zetsche, 66, and Chief Financial Officer Bodo Uebber, 59, who is also leaving, turned Daimler from an industrial conglomerate that included holdings in aviation into a company focused on upscale passenger cars and commercial vehicles.
BMW, like other carmakers, is making a costly transition to electric cars and new business models and is confronting deep-pocketed tech competitors encroaching with mobility trends like ride hailing. After leading the luxury competition for a decade, BMW’s momentum petered out in 2016 and the carmaker has since struggled to regain the top spot with cautious model redesigns.
The report looks at how this fleet will transform transportation as China’s 421,000 electric buses join those millions of personal EVs. As the expanding electric fleet drives electricity demand up, it will also erode demand for millions of barrels of oil. BloombergNEF tracks more than $100 billion in investment between just four automakers — Volkswagen AG, Hyundai Kia Automotive Group, Chongqing Changan Automobile Co Ltd. and Daimler AG — with VW alone planning more than $50 billion.