Articles

BMW Takes Hit on Emissions Costs

BERLIN — Shares in BMW AG fell by as much as 6% on Tuesday after the luxury car maker warned that emissions- related costs, product recalls and fierce price competition amid global trade disputes would dampen profit this year.
 BMW said the main reason for the dimmer outlook was the cost of adjusting to new global rules for emissions testing to measure pollutants, greenhouse-gas emissions, and fuel economy.

Truckmakers stuck in slow lane on switch to electric

The Hanover truck and bus show feels deceptive. Everywhere one walks, electric and hybrid trucks and buses roam, giving the impression that new technology is on the ascendant.
But on the roads in the real world it is a different story, where diesel technology dominates. Of heavy-duty trucks sold in Europe so far this year, 97per cent are diesel; for camper vans, it is 100 per cent, according to data from Jato Dynamics.

Zetsche steps down early as Daimler plans ahead for 2020 restructuring

Dieter Zetsche, Daimler's chief executive, will step down next year as part of the German carmaker's response to upheaval in the sector, setting the stage for its2020restructuring. The parent of brands including Mercedes said yesterday that Mr Zetsche, who has led Daimler since 2006, would be replaced by Ola Kallenius, a board member who oversees research and development.

Research Chief to Be Next Daimler CEO

BERLIN—Mercedes-Benz owner Daimler AG said longtime Chief Executive Dieter Zetsche would stand down next year and be succeeded by its research-and-development chief, who has been leading the car maker's push into electric vehicles and self-driving cars.
 The appointment of Ola Källenius marks a changing of the guard at the German auto maker at a time when its sales have slowed and, like much of the car industry, it grapples with technology-driven changes and a fragile global economy.

Cadillac Heads Back to Detroit

General Motors Co. is moving its Cadillac headquarters back to Detroit, nearly four years after relocating the luxury brand's home base to New York City's SoHo neighborhood. Steve Carlisle, a longtime GM executive who took over Cadillac in April, confirmed the move, saying he wants the brand's leaders to be closer to GM's vehicle design and engineering hub in suburban Detroit, especially as GM prepares to roll out several new Cadillac models in coming years.

Luxury Icon and 007 Favorite Tunes Up for IPO

Aston Martin, the maker of the famed sports car favored by secret agent 007, was expected to announce as early as Wednesday plans for a stock-market listing later this year that would value the company at more than $6 billion, according to people familiar with the matter.
 The British sports-car brand intends to list about £1 billion ($1.29 billion) of shares on the London Stock Exchange, the people said.
 A listing of Aston Martin this year would be the first offering of a popular sports-car brand since Flat Chrysler Automobiles NV sold roughly 9% of Ferrari at an offering price of $52 a

Mexico's Role As Car Hub Faces Challenge

The Trump administration's new trade deal with Mexico is likely to force some auto makers to rethink their strategy for many Mexican-built models, threatening the country's role as a go-to producer of lower-priced small cars and sedans for the U.S. market.
 The U.S.-Mexico trade agreement comes nearly two decades after the North American Free Trade Agreement was established, resulting in a shift by many car makers to move production of less-lucrative models, particularly small cars and compact sedans, to Mexico to take advantage of the country's low labor rates.

Global Auto Sales Slow, Pressuring Profits

After nearly a decade of growth, new-vehicle sales in the world's largest auto markets are encountering their first sustained slowdown since the global financial crisis, putting pressure on profits as uncertainty around U.S. trade policies looms.
 China's once-booming car market is cooling, in part because of escalating trade tensions with the U.S. American demand for cars and trucks — long a bright spot for the global auto industry — has topped out, following a sevenyear growth streak that helped lift earnings for many car makers and auto-parts suppliers world-wide.

BMW Is Ready to Shift Into High Gear

BMWs are built for speed, yet the car maker's stock trades as if it is stuck in the slow lane. Between trade tensions, environmental concerns and technological change, car manufacturers have plenty to worry about. But if there is one company that takes problems in its stride, it is Munich-based Bayerische Motoren Werke.
 The Chinese tariffs will hit its profit by a little under €300 million ($340 million), but model launches should offset the shortfall. The company confirmed that its fullyear operating margin would fall within a longstanding target range of 8% to 10%. It has met or exceeded this target every quarter since 2009.

Tesla's Advisers Not Ready to Ride

Elon Musk again caught the financial world by surprise with an announcement on Twitter about his desire to take Tesla Inc. private, this time revealing a list of advisers before arrangements with all of them were completed. The electric-vehicle maker's chief executive said in a tweet late Monday that he was “excited to work with” as advisers investment bank Goldman Sachs Group Inc. and investment firm Silver Lake, bluechip names in the deals world.
 But on Tuesday, Mr. Musk and Goldman executives were still haggling about the terms of any engagement, according to people