Thu, Jul. 9, 4:10 AM
- With rival offers unraveling, Germany's big car makers have reached a stand-off with Nokia (NYSE:NOK) in their joint bid to buy the latter's maps business HERE, Reuters reports.
- BMW (OTCPK:BAMXY), Daimler (OTCPK:DDAIY) and Volkswagen (OTCQX:VLKAY) are feeling less pressure to pay a high price for HERE, amid signs that rival bidders such as Uber (Pending:UBER) have dropped out of the race.
- Analysts estimate the value of the mapping unit at €2B-€4B.
- Previously: Bloomberg: Nokia wants to sell HERE to German automakers for ~$4B (Jun. 18 2015)
Fri, Jun. 26, 11:37 AM
- Jaguar Land Rover (NYSE:TTM) won't develop a true self-driving car, according to R&D chief Wolfgang Epple.
- Epple says delivering human cargo from point A to point B isn't a goal of the luxury brand.
- The stance from JLR is different than the vision of Mercedes-Benz (OTCPK:DDAIF) CEO Dieter Zetsche who sees autonomous cars becoming "exclusive cocoons" on wheels driven by digital chauffeurs.
- The fine line between the self-driving concept and cars with advanced autonomous features pivots on decision-making.
Fri, Jun. 19, 11:26 AM
- The EPA and NHTSA have published a new set of rules covering fuel efficiency on medium and heavy duty vehicles built for the model year 2018 and beyond.
- The agencies forecast the program will cut greenhouse gas emissions by 1B metric tons and lower fuel costs by $170B for the lifetime of the vehicles manufactured under the program.
- Though the release of tighter emission rules has been widely anticipated, perhaps a bigger surprise this week was the strong statement made by Pope Francis on the global need to address climate control.
- The number of companies that could ultimately be impacted by the proposed changes if they are enacted spread across various sectors.
- Joint EPA/NHTSA proposal (.pdf)
- Encyclical letter from Pope Francis (.pdf)
- Related stocks: KNX, PTSI, ODFL, JBHT, R, SWFT, CNW, GM, F, OTCPK:DDAIF, NAV, OTCPK:VOLVY, CMI, PCAR, FDX, UPS, HTZ, TM,
Fri, Jun. 19, 10:09 AM
- The EPA is expected to announce a new set of rules today covering medium and heavy trucks built in the model year 2019.
- The administration aims to improve fuel efficiency with larger-sized trucks accounting for 20% of all emissions in the transportation sector off a mark of 4% of vehicles on the road.
- The new rules could also cover light-duty pickup trucks, buses, and delivery vehicles.
- Related stocks: KNX, PTSI, ODFL, JBHT, R, SWFT, CNW, GM, F, OTCPK:DDAIF, NAV, OTCPK:VOLVY, CMI, PCAR.
Tue, Jun. 16, 8:19 AM
- Daimler (OTCPK:DDAIF) car registrations +11.5% to 70,053 units in May, according to the European Automobile Manufacturers Association.
- Overall EU registrations +1.3% Y/Y to 1,109,893 units in May with demand strong in Poland, Czech Republic, Italy, and Spain.
- Daimler market share: 6.1% vs. 5.5% a year ago.
- Daimler YTD registrations +13.8%.
- Results include the Mercedes and Smart brands.
- EAMA release (.pdf)
Tue, Jun. 16, 7:19 AM
- Germany is expected to make a decision by the end of the year if it will provide major incentives for the electric vehicle industry to reach a goal of one million EVs on German roads by the end of the decade.
- The nation faces some pressure from an European Union mandate to help automakers cut vehicle fleet emissions to 95 grams/km by 2021.
- "Germany will have no choice but to offer further support (for EVs) although we've already done some things," noted Chancellor Angela Merkel at an EV conference.
- Related stocks: OTCPK:BAMXY, OTCPK:DDAIF, TSLA, OTCQX:VLKAY.
Tue, Jun. 2, 2:11 PM
- Mercedes-Benz (OTCPK:DDAIF) unit sales +12.2% to 33,189 units.
- Sales growth by Mercedes class: C-Class +40% to 7,413; E-Class -36% to 3,942; S-Class -11.6% to 1,922; M-Class -2.3% to 3,991; GL-Class -0.2% to 2,322.
- Sprinter sales up 23.3% to 2,769 units.
- Smart sales increased 21.5% to 837.
- YTD Mercedes-Benz sales for all three brands +9.0% to 150,868 units.
Fri, May 29, 12:58 PM
- Daimler (OTCPK:DDAIF) announces it will advance its stationary energy storage business in a partnership with one of its subsidiaries and utility firm EnBW Energie Baden-Wuerttemberg.
- New energy storage systems designed for business or home use will be sold under the Mercedes-Benz brand name.
- Daimler sold its stake in Tesla Motors last year in advance of a deeper push into lithium-ion battery production.
Thu, May 21, 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.
Tue, May 19, 1:36 PM
- Aston Martin CEO Andy Palmer said Alabama is an obvious choice for the company to build a plant for crossover SUV production.
- Part-owner Daimler (OTCPK:DDAIF) already builds Mercedes-Benz vehicles in the state.
- The Aston Martin DBX is expected to debut in 2019 in the U.S. and China.
- A final decision on the U.S. plant is expected by the end of the year.
Tue, May 19, 7:51 AM
- Daimler (OTCPK:DDAIF) European car registrations +7.8% to 67,911 units in April, according to the European Automobile Manufacturers Association.
- Overall EU registrations +6.9% Y/Y in April, led by a strong month in Germany, the U.K., and Italy. YTD registrations +8.2%.
- Daimler market share: 5.6% vs. 5.6% a year ago.
- Daimler YTD registrations +14.4%.
- Results include the Mercedes and Smart brands.
- EAMA release (.pdf)
Sat, May 9, 10:55 AM
- Toyota (NYSE:TM) and Mazda (OTCPK:MZDAY) are discussing expanding their existing partnership into fuel cell development, according to Reuters.
- Mazda was toying with building its own fuel cell vehicle before deciding to team up with Toyota.
- Toyota is a leader in the burgeoning hydrogen FCV industry and is sharing some of its patents for free in an effort to see infrastructure build-out expand in key nations.
- Battle lines are still being drawn over the direction of next-gen vehicles with Japanese automakers (OTCPK:NSANY, TM, HMC, OTCPK:MZDAY, OTCPK:SZKMY, OTCPK:FUJHY, OTCPK:MMTOF) and Hyundai (OTC:HYMLF) more heavily exploring hydrogen fuel cells - while the Detroit Big Three (GM, F, FCAU) and Tesla Motors (NASDAQ:TSLA) have a sharper focus on battery-powered electric vehicles.
- German automakers (OTCQX:VLKAY, OTCPK:DDAIF, OTCPK:BAMXY) are seen hedging their bets a bit with the group supporting efforts to build out a hydrogen charging network in Germany and selling electric vehicle (PHEV, BEV, hybrids) models at the same time.
- Some analysts think politicians may have the final say. The 2016 U.S. presidential election and the success of Japanese Prime Minister Shinzo Abe are key factors.
- Previously: Millennials have the steering wheel now (Jan. 31)
- Previously: Academic study sees future for clean and cheap hydrogen fuel (April 6)
- Previously: Toyota Mirai coming to U.S. in October (May 6)
- Previously: 500K the talk in electric vehicle industry (May 8)
Thu, May 7, 1:03 PM
- Freightliner (OTCPK:DDAIF) introduced the first self-driving truck that has been approved legally to operate on roads.
- The State of Nevada designated the model with the same NHTSA Level 3 rating it gave to Google's autonomous car.
- The Level 3 distinction means a human driver must be able to take control of the vehicle if there is a software problem.
- The legal ramifications of landing a Level 4 license (no human intervention) are still being worked out.
- Previously: Self-driving cars vs. the law (March 20)
Thu, May 7, 6:55 AM
Fri, May 1, 1:24 PM
- Mercedes-Benz (OTCPK:DDAIF) unit sales +10.6% to 32,432 units.
- Sales growth by Mercedes class: C-Class +30% to 6,665; E-Class -43% to 3,466; S-Class +5.9% to 2,021; M-Class +29.1% to 4,945; GL-Class -2.6% to 2,195.
- Sprinter sales up 15.5% to 2,764 units.
- Smart sales dropped 54% to 480.
- YTD Mercedes-Benz sales across all three brands +8.2% to 117,860 units.
Thu, Apr. 30, 11:08 AM
- A 25-page thesis from Fiat Chrysler Automobiles titled "Confessions of Capital Junkie" presents the case that automakers need to consider consolidating through mergers.
- The automobile industry is set up for failure unless costs from R&D and regulatory changes can be shared on a larger scale, according to the company.
- "Capital consumption rate by OEMs is unacceptable—it is duplicative, does not deliver real value to consumers and is pure economic waste," reads the presentation.
- There's even a slide with a quote from Alice in Wonderland to hammer home the automaker's main points on the need for M&A.
- Today, Ford CEO Mark Fields told CNBC the company isn't looking for a merger within the auto space. Similar comments have been made by execs with General Motors, Nissan, and Toyota in the recent past.
- FCA's industry analysis (.pdf)
- Automaker stocks: GM, F, TM, HMC, TSLA, OTCQX:VLKAY, OTCPK:DDAIF, OTC:HYMLF, OTCPK:BAMXY, OTCPK:MMTOF, TTM, OTCPK:SZKMY, OTCPK:FUJHY, OTCPK:GELYF, FCAU, OTCPK:NSANY, OTCPK:DDAIF, OTCPK:MZDAY, TSLA.
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