|Bid||26.35 x 1400|
|Ask||26.36 x 1800|
|Day's Range||26.26 - 26.36|
|52 Week Range||24.43 - 31.04|
|Beta (3Y Monthly)||0.83|
|PE Ratio (TTM)||4.54|
|Forward Dividend & Yield||1.03 (3.89%)|
|1y Target Est||30.44|
Theresa May has signed off a £500m loan guarantee to Jaguar Land Rover to encourage the car company to build electric cars in the Midlands in one of her last big interventions before leaving Downing Street. The UK prime minister, who held a meeting of car manufacturers at Downing Street on Monday, said the loan would help Britain’s biggest carmaker sell a new generation of electric cars to help the country meet its environmental commitments. The funding package for JLR includes £500m from UK Export Finance as well as £125m from commercial lenders.
China is considering re-classifying petrol-electric hybrid vehicles so they get more favourable treatment than all-petrol or diesel counterparts under clean car rules, making it easier for automakers to meet environment quotas and offer more choice. Global hybrid leaders Toyota Motor Corp and Honda Motor Co Ltd would be among the biggest beneficiaries of such change, which could allow them to make more hybrids and less of the more costly all-electric vehicles, experts said, after reviewing the draft policy proposal published on Tuesday by the Ministry of Industry and Information Technology. China has some of the world's strictest rules regarding the production of greenhouse gas-emitting vehicles, as it battles unhealthy levels of air pollution in its crowded cities.
(Bloomberg) -- A long history of failed automotive mergers and tie-ups -- from Daimler-Chrysler, to GM-Fiat and BMW-Rover -- used to be reason to doubt that combinations or partnerships between big carmakers were a good idea.But as the world’s biggest manufacturers anticipate an age of increasingly electric, autonomous and shared vehicles, they’re increasingly becoming bedfellows.Volkswagen AG and Ford Motor Co. have scheduled a press conference in New York on Friday after months of talks about joining forces to develop self-driving and electric vehicles. Aligning with one another in the burgeoning fields would build on an existing partnership to work together on commercial vans and trucks.The expanding alliance between the world’s No. 1 and America’s No. 2 car companies is only the latest example of the auto industry giants joining forces to cope with the transformation sweeping their industry. The transition is going to be costly: Since 2010, more than $14 billion has been invested in autonomy and mobility technologies, according to BloombergNEF.“BMW and Daimler are pairing up and matching up on their autonomous-vehicle program, as are Toyota and Uber, and you’ve seen GM and Honda, and now VW and Ford,” said Mike Ramsey, an automotive consultant at Gartner Inc. “That leaves Hyundai and Kia hunting around desperately for partners. And then the remainder, like FCA and PSA.”Here’s a rundown of some of the most noteworthy tie-ups of the last few years among the world’s leading automakers:BMW-Daimler DealsBMW AG and Daimler AG vowed earlier this month to team up on developing cars capable of traversing highways without human intervention starting in 2024. While drivers will remain behind the wheel, the companies said their vehicles will be able to navigate highways and park on their own.The luxury-auto arch rivals also agreed to pour more than 1 billion euros ($1.1 billion) into the car-sharing and ride-hailing businesses they combined to form one joint venture earlier this year to compete with the likes of Uber Technologies Inc. and Lyft Inc.Fiat’s Renault FlirtationFiat Chrysler Automobiles NV -- already an Italian-American amalgam -- pursued a merger with Renault SA earlier this year, though the potential deal abruptly collapsed last month due to the French state’s intervention and concern about the implications for Renault’s existing alliance with Nissan Motor Co. and Mitsubishi Motors Corp.Still, it may be too soon to write off the idea. Renault and French Finance Minister Bruno Le Maire have said talks with Fiat Chrysler could resume once the Renault-Nissan alliance is on firmer footing. Fiat Chrysler Chairman John Elkann told Italian newspaper La Stampa this week called the attempt to merge with Renault an “act of courage.”BMW’s Other BlocsNearly two years before Fiat Chrysler’s merger proposal with Renault, the company entered a coalition led by BMW that’s creating an autonomous-vehicle platform slated to be launched in 2021. Other members of the collaboration include Intel Corp., Aptiv Plc, Continental AG and Magna International Inc.And that’s not all for BMW. Jaguar Land Rover announced in June it will team up with the German automaker to work on its fifth generation of electric-drive technology, which is set to roll out next year with an electric X3 crossover.Daimler Joining GeelyDaimler decided earlier this year to transform Smart, its struggling small-car division, into an all-electric brand rooted in China with the help of its largest shareholder, Zhejiang Geely Holding Group.The two groups also agreed last October to enter China’s ride-hailing and car-sharing business by forming a 50-50 venture. They plan to levereage models including the Mercedes-Benz S-Class and E-Class and the ultra-luxury brand Maybach to battle market leader Didi Chuxing.Honda Hitching RidesEven Honda Motor Co. has pivoted from the go-it-alone approach that it stuck to for decades. The Japanese automaker joined an existing venture between Toyota Motor Corp. and SoftBank Group Corp. earlier this year.Last fall, Honda committed to investing $2.75 billion in General Motors Co.’s Cruise self-driving unit. The two already were working together on electric-vehicle batteries and hydrogen fuel cell systems.Toyota’s Electric-Car CooperationToyota, whose battery-powered RAV4 partnership with Tesla Inc. ended up being a short-lived clash of polar-opposite business cultures, entered another electric-vehicle alliance in 2017 with Mazda Motor Corp.Months after announcing the Mazda pact, Toyota added Suzuki Motor Corp. to the mix, with the two saying they plan to bring electric vehicles to China and India beginning in 2020. And in June, Toyota added Subaru Corp. to its stable of EV partners.\--With assistance from Keith Naughton.To contact the reporter on this story: Kyle Lahucik in Southfield at firstname.lastname@example.orgTo contact the editor responsible for this story: Craig Trudell at email@example.comFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Owners of 2019 and 2020 Acura RDX vehicles today filed a class-action lawsuit against Honda alleging the automaker knowingly sold vehicles equipped with defective infotainment systems which it refuses to fix, according to Hagens Berman. The lawsuit filed in the U.S. District Court for the Central District of California states the defect renders many of the infotainment system features – including safety-related systems such as the backup camera – inoperable and frequently freezes or crashes entirely. The defect has manifested in the vehicles almost immediately after consumers leave the dealership in their new RDX, and owners have vocally taken to online forums and reported the defect to the National Highway Transportation Safety Administration (NHTSA).
The Trump administration has approved SoftBank’s $2.25 billion investment in General Motors’ (GM) self-driving unit, Cruise Automation.
The most American manufacturer might be Japanese, at least by one measure. Six Honda and Acura models cracked the top 10 of the annual Cars.com American-Made Index, which singles out the vehicles the site believes contribute the most to the U.S. economy. The rankings may be a surprise to those car shoppers who think impact is solely determined by where the company headquarters might be.
There's only one word that accurately describes the Honda e: adorable. The pop-out door handles. The compact wing mirrors that are actually tiny cameras. The simple, oval-shaped front that houses the Honda badge and two bright, circular headlamps.
Ford sales fell 4.1% in Q2 vs. a year earlier as the flagship F-series slowed. But Fiat Chrysler had its best June in 14 years. U.S. auto sales are seen cooling amid higher prices.
Australia’s S&P ASX 200 was the best-performing index in the Asia-Pacific region on July 3. The index gained 0.59% on the day to end near its 12-year high at 6,685.5.
The top model in the Cars.com annual American-Made Index is a longtime U.S. make that’s part of an international ownership team.
Aaron Paul and Kid Cudi tried. The studio attempt to bring Need for Speed to life was lukewarm, so a Russian videographer took a shot at the idea with this impressive digital short. Unearthed by Reddit user, AbuDab1, the clip is the work of Russia-based videographer @Chekunov_v.
Economic development leaders from throughout the Triad agree that improvements to an already strong transportation network remain an important asset to industrial development in the region. Robbie Perkins of NAI Piedmont Triad (part of NAI Earle Furman) moderated a panel discussion of leaders from throughout the Triad.
A product recall is the process of retrieving and replacing defective goods for consumers. When a company issues a recall, they absorb all the costs.
(Bloomberg) -- While Donald Trump has been pressing for tariffs on foreign-made cars and parts, it turns out the most American-made cars sold in the U.S. today are usually Japanese.The annual “American-Made Index” compiled by Cars.com found nine of the 15 most U.S.-sourced vehicles are manufactured by Honda Motor Co. and Toyota Motor Corp. The two Japanese automakers dominated the latest study thanks to the big number of popular vehicles they assemble in America and their high content of U.S.-made parts.“It’s not surprising that there’s a lot of vehicles here from Honda,” Kelsey Mays, senior editor of Cars.com, said in an interview. About two-thirds of Honda’s cars are assembled in the U.S., which is more than General Motors Co. and Fiat Chrysler Automobiles NV, Mays said. Toyota also sells mostly American-made vehicles in the U.S. market.The 2019 study, published Tuesday, takes into account many of the issues Trump has stumped about when it comes to the automotive trade. Cars.com examined assembly location, parts sourcing as determined by the American Automobile Labeling Act, factory employment relative to sales and sourcing of engines and transmissions. The five factors aren’t equally weighed and Mays declined to give details of the breakdown.Fiat Chrysler’s Jeep Cherokee SUV topped the list, and GM’s Chevrolet Corvette sports car placed fifth. But Japanese automakers dominated the ranking just as they did in 2018. The study, which debuted in 2006, was redesigned in 2017.While Japanese nameplates are among the most American-made, some American brand icons are not in the Top 10. One common misconception involves Ford Motor Co.’s F-150, America’s longtime best-selling vehicle: Some 71% of respondents believed it to be the most American vehicle on the road, but Cars.com said it actually ranked No. 13.Many U.S. consumers give preferential consideration to American-made vehicles, according to the survey. But nearly 50% of respondents said they were very or somewhat concerned about the impact of tariffs on their new car purchasing decisions.Cars.com hasn’t seen a massive relocation of production in a way that would influence its rankings despite the Trump administration’s imposition of tariffs on China and threats to do so on European and Japanese imports. Mays said Ford and GM have indicated “a few employment changes” because of the tariffs, but no automaker has significantly altered its assembly lines or supply chains in reaction to trade policy. Still, such changes could be coming -- and would likely raise costs for car buyers, he said.The White House delayed imposing tariffs on imported vehicles from the European Union, Japan and other nations on May 17 for 180 days. Earlier this month, the administration denied a GM request to exclude its Chinese-made Buick Envision from a 25% import duty.To contact the reporter on this story: Kyle Lahucik in Southfield at firstname.lastname@example.orgTo contact the editors responsible for this story: Chester Dawson at email@example.com, David WelchFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Typically when shopping for a new car, the song and dance at a dealership is pretty standard, including a salesperson riding shotgun on your test drive. The Oakland Press reports that police are on the hunt for a woman who took an all-new, gray 2019 Honda Accord on a test drive June 15 from Page Honda in Bloomfield Hills, Mich. After she disappeared into the day, the dealership reported it stolen. Presumably the dealership copied her driver's license and other identifying information, assuming it's genuine, of course.