Dec. 9, 2015, 9:53 AM
- The NHTSA proposes adding new safety categories to its ratings systems with an aim to accelerate technology innovation and integration.
- Safety features such as forward collision warnings, blind-spot alerts, lane departure information, and rear cameras would be part of the ratings system under the changes.
- The push from the regulator could help some auto suppliers such as Delphi Automotive (DLPH +1.4%) and Mobileye (MBLY +2.5%), notes the WSJ.
- Autoliv (ALV +2.1%), WABCO Holdings (WBC +1.5%), Borg Warner (BWA +1.3%), and Meritor (MTOR +1.3%) are all ahead of market averages in early action today, perhaps due to the NHTSA strategy reveal.
- Related auto stocks GM, F, TM, HMC, OTCPK:NSANY, OTCQX:VLKAY, OTCPK:DDAIF, OTCPK:BAMXY, TSLA, TTM, OTC:HYMLF.
- NHTSA press release
Oct. 21, 2015, 10:20 AM
- Automobile stocks are largely higher after General Motors (NYSE:GM) reports record profit for Q3.
- GM is leading the pack with a 4% gain - while Daimler (OTCPK:DDAIF +2.6%), Honda (HMC +2.5%), Toyota (TM +1.7%), Nissan (OTCPK:NSANY +1.6%), Ford (F +0.9%), and BMW (OTCPK:BAMXY +1%) are all ahead of market indexes. Even Volkswagen (OTCQX:VLKAY) is clawing itself back with a 2.1% increase.
- The two laggards are Fiat Chrysler Automobiles FCAU which is down 2.9% and Tesla Motors (TSLA -0.8%). Fiat was hit with a negative EU tax ruling and has the Ferrari (NYSE:RACE) IPO stealing some of its thunder, while Tesla Motors is still stinging from a Consumer Reports jab yesterday.
Sep. 28, 2015, 9:56 AM
- European automobile stocks and some associated suppliers are under pressure as the news over the weekend on the Volkswagen scandal wasn't encouraging - including word German prosecutors are probing the actions of high-level VW execs.
- There are fears in the sector over heightened regulatory oversight on emissions standards.
- Previously: Audi says 2.1M vehicles impacted by emissions scandal (Sep. 28 2015)
- Previously: Volkswagen -35% in two-day drubbing after cheating scandal (Sep. 22 2015)
- Decliners: Volkswagen (OTCQX:VLKAY) -7.0%, Tata Motors (NYSE:TTM) -5.1%, Daimler (OTCPK:DDAIF) -3.0%, BMW (OTCPK:BAMXY) -2.8%, Peugeot (OTCPK:PEUGF) -4.8%, Renault (OTCPK:RNLSY, OTC:RNSDF) -4.7%, Fiat Chrysler Automobiles (NYSE:FCAU) -3.5%, Navistar (NYSE:NAV) -2.2%, Autoliv (NYSE:ALV) -1.7%, Toyota (NYSE:TM) -1.5%,
Jul. 21, 2015, 11:32 AM
- The WSJ and Germany's Manager Magazin report Nokia (NOK -0.7%) has reached a deal with a consortium featuring Daimler (OTCPK:DDAIY), BMW (OTCPK:BAMXY), and Audi (OTCPK:AUDVF) to sell its HERE mapping/navigation software unit for about €2.5B ($2.72B).
- The deal will reportedly be finalized by month's end, with the automakers subsequently running HERE, the top player in the automotive navigation software space, as an open platform. The reported sale price is less than the ~$4B Nokia was believed to be seeking.
- With HERE having 2014 revenue of €969M (+6% Y/Y), Nokia appears to be selling the unit for roughly 2.6x trailing sales. Bloomberg reported overnight Nokia and the automakers were close to a deal.
- Update: More details from the WSJ. Sources state the automakers "intend to purchase all of Nokia Here and then invite other global auto makers to take stakes in the company."
- Update 2: Reuters reports a deal worth between €2.5B-€3B is close, while adding the issue of patent ownership still needs to be worked out. The automakers want full ownership of Nokia's mapping patents; Nokia wants to keep control of some of the patents related to "how mobile devices connect to networks."
May 21, 2015, 1:38 PM
- Reuters reports Mercedes (OTCPK:DDAIF), BMW (OTCPK:BAMXY), and Audi (OTCPK:AUDVF) are partnering with P-E firm General Atlantic to bid for Nokia's (NOK +3.2%) HERE mapping/navigation software unit. Like Bloomberg on Monday, Reuters states HERE could fetch up to $4B.
- One source states General Atlantic would likely take a 30% stake; another states the automakers are each willing to contribute up to $780M towards a bid.
- The automakers, also mentioned in past M&A reports about HERE, have reportedly "made an indicative offer for an undisclosed amount." However, they're waiting for Nokia to respond before deciding whether to up their bid.
- Both Reuters and Bloomberg have reported Baidu, Uber, and P-E firm Apax Partners have launched a separate bid, and that a consortium consisting of Tencent, NavInfo, and Swedish P-E firm EQT Partners has also shown interest.
- Nokia has rallied to its highest levels since late April, when shares plunged in response to the company's Q1 results. All-stock merger partner Alcatel-Lucent (ALU +2.8%) is also higher.
Nov. 28, 2014, 11:05 AM
- Automobile stocks are higher as a group after oil prices slide.
- General Motors (NYSE:GM) is up 2.3% and Toyota is 1.1% higher, while shares of Ford (NYSE:F) are just poking out a modest 0.1% gain.
- There's some concerns that Ford's big bet on aluminum loses some of its relevance if gas prices shoot lower.
- Daimler (OTCPK:DDAIF) and BMW (OTCPK:BAMXY) are both beating broad market averages with +1% gains.
- EV automaker Tesla Motors (NASDAQ:TSLA) is down 2.1% on the day.
Sep. 19, 2012, 2:30 PM
In the zero-sum game of auto sales, General Motors (GM +1.5%) and German automakers such as BMW (BAMXY.PK) and Volkswagen (VLKAY.PK) could benefit from the wave of anti-Japan protests across China, while Honda (HMC +1.9%), Toyota (TM +1.0%), and Nissan (NSANY.OB) suffer a loss of market share. The trio of Japanese automakers already reported attacks on dealerships and have cut production in the region.| Sep. 19, 2012, 2:30 PM | 2 Comments
May 7, 2012, 8:38 AM
General Motors (GM) increased sales in China 11.7% Y/Y in April, driven by strong results from microvan joint ventures with a pair of Chinese automakers. Cadillac sales showed disappointing results, falling 19.7% even as rivals BMW (BAMXY.PK) and Volkswagen's Audi (VLKAY.PK) saw healthy sales gains for their premium lines. Shares of GM -1.1% premarket.| May 7, 2012, 8:38 AM