Mon, Jun. 6, 6:02 PM
- Daimler (OTCPK:DDAIF, OTCPK:DDAIY) says it will lay off more than 1,200 workers at three plants in the U.S. and one in Mexico, the second such cut this year in response to falling demand for commercial trucks.
- The automaker says most of the jobs eliminated will be in North Carolina, with 600 workers to be cut loose by July 1 at its Mount Holly plant and 200 workers in Gastonia; the cuts amount to ~41% and 15%, respectively, at the plants.
- Also, 170 workers will be laid off from the Portland, Ore., plant, as well as 270 workers at Santiago, Mexico.
Mon, Apr. 25, 4:03 AM
- Major car manufacturers have given mixed signals about their prospects in China amid the country's cooling economy.
- Toyota (NYSE:TM) is not certain it will reach its goal of selling 2M cars by 2025, while Ford (NYSE:F) CEO Mark Field said there is "nothing that we're ready to talk about" in terms of further expansion. Volkswagen (OTCPK:VLKAF) is a bit behind in some of its plans to invest €22B ($24.7B) in China over five years.
- Still, Honda (NYSE:HMC) is looking for sales to increase to 1.07M vehicles in 2016 from the 1.01M that the company and its joint-venture partners sold in 2015.
- Fiat Chrysler (NYSE:FCAU) is aiming for "significant double-digit growth" for jeep sales, although it warns about overall pricing pressure.
- Mercedes-Benz (OTCPK:DDAIF) expects vehicle sales to moderate during the rest of 2016 after jumping 39% on year in Q1.
Fri, Apr. 22, 4:51 AM
- Daimler (OTCPK:DDAIF) shares are down 6% in Frankfurt after Q1 results were overshadowed by news that the German automaker was reviewing its emissions certification process at the prompting of the U.S. Justice Department.
- CFO Bodo Uebber said the company was cooperating, but declined to comment further.
- Daimler's net profit fell 32% to €1.4B in the three months to end-march as currency headwinds overpowered strong Mercedes sales in China.
- Previously: Daimler AG reports strongest unit sales in a quarter (Apr. 22 2016)
Fri, Apr. 22, 4:03 AM
- Daimler AG (OTCPK:DDAIF): Q1 EPS of €1.26 misses by €0.20.
- Revenue of €35B (+2.2% Y/Y) misses by €790M.
- Unit Sales: Daimler Group 683,885 (+7% Y/Y), Mercedes-Benz cars 496, 756 (+8% Y/Y), Daimler Trucks 105,664 (-6% Y/Y), Mercedes-Benz Vans 76,647 (+20% Y/Y), Daimler Buses 4,818 (-15% Y/Y)
- Press Release
Thu, Apr. 21, 6:52 PM
- Daimler (OTCPK:DDAIF) says it's conducting an internal investigation into its exhaust emissions certification, at the request of the Justice Dept.
- The company says it's cooperating fully with authorities and says its experience with federal authorities shows a "conservative communication" supports constructive dialogue.
- Regarding class action suits over its emissions: They're "considered to be without merit and Daimler will defend itself against them with all available legal means."
- Now read Strong Growth Rates For Undervalued Daimler »
Mon, Apr. 11, 4:31 AM
- An experiment in which self-driving trucks crossed Europe has paved the way for adoption of the technology ahead of a crucial meeting of EU transport ministers this week.
- Six European truck companies - Volvo (OTCPK:VOLVF), Scania (OTC:SVKBF), Daimler (OTCPK:DDAIF), Iveco, DAF and MAN - took part in the project, in which they drove in connected convoys along highways.
- The technique, known as "platooning," permits trucks to communicate via wireless technology, allowing them to brake and accelerate together.
Wed, Apr. 6, 4:16 AM
- It has been confirmed that Microsoft (NASDAQ:MSFT) and Amazon (NASDAQ:AMZN) are in talks with Germany's premium carmakers about taking minority stakes in their HERE digital mapping service.
- BMW (OTCPK:BAMXY), Daimler (OTCPK:DDAIY) and Audi (OTCPK:AUDVF) agreed last year to pay €2.5B ($2.8B) for the Nokia business to build a platform for self-driving cars connected to the Internet.
- "We need a cloud provider to handle the huge amounts of data created by HERE and its users," said Thomas Weber, a Daimler board member.
- Previously: Amazon in talks to take stake in HERE (Apr. 01 2016)
Fri, Apr. 1, 4:20 AM
- Amazon (NASDAQ:AMZN) is in talks with BMW (OTCPK:BAMXY), Daimler (OTCPK:DDAIY) and Audi (OTCPK:AUDVF) about taking a stake in their high-definition digital mapping company HERE.
- Last August, the consortium of German automakers agreed to pay €2.5B ($2.8B) to buy Nokia's mapping business as part of plans to develop self-driving vehicles.
- However, they need to ensure that maps can cope with live updates on traffic and road conditions collected from thousands of cars. That's likely where Amazon's cloud computing services comes into the picture.
Mon, Feb. 29, 3:43 AM
- The EPA is requesting information from Mercedes-Benz (OTCPK:DDAIF) following a lawsuit that claimed the luxury automaker made false representations of its BlueTEC vehicles, which were marketed as "the world's cleanest and most advanced diesels."
- A spokesman for Daimler said they are fully cooperating with the request for information, and that Mercedes-Benz cars conform with all rules and norms.
- Previously: Daimler's also under emissions pressure (Feb. 19 2016)
Fri, Feb. 19, 4:15 AM
- An owner of a Mercedes BlueTEC diesel car filed a class-action lawsuit on Thursday, accusing the carmaker of knowingly programming its Clean Diesel vehicles to emit illegally high levels of NOx at levels 65x higher than those permitted by the EPA when operating in temperatures below 50 degrees Fahrenheit.
- Daimler (OTCPK:DDAIF) said the carmaker would examine the levels and defend itself against the suit.
- Previously: When were emissions problems first discovered at VW? (Feb. 19 2016)
Tue, Feb. 16, 7:49 AM| Tue, Feb. 16, 7:49 AM
Dec. 4, 2015, 8:58 AM
- Nokia (NYSE:NOK) has completed the sale of its HERE mapping business to a consortium of German carmakers, including BMW (OTCPK:BAMXY), Daimler (OTCPK:DDAIY) and Audi (OTCPK:AUDVF).
- The transaction valued HERE at an enterprise value of €2.8B, subject to certain purchase price adjustments.
- Based on the current estimates of such adjustments, Nokia received net proceeds from the transaction of approximately €2.55B at closing.
- Previously: Nokia sells HERE maps unit for $3.07B (Aug. 03 2015)
Nov. 18, 2015, 5:16 AM
- Ford (NYSE:F) is set to unveil the latest version of its luxury car the Lincoln MKZ at the Los Angeles Auto Show later today.
- The 2017 MKZ features a new grille design, a three-liter turbo-charged engine, 400 horsepower vs 300 HP on the current model, and an all-wheel drive system.
- Ford has also installed a new interior look and will offer optional crash-avoidance technology and a feature that will automatically slow and accelerate the car in traffic.
- The MKZ competes with GM's (NYSE:GM) Cadillac ATS, BMW's (OTCPK:BAMXF) 3-series, Daimler's (OTCPK:DDAIF) Mercedes-Benz C-Class and Audi's (OTCQX:VLKAF) A4 in the $36,000-$50,000 price category.
Sep. 23, 2015, 6:56 PM
- Volkswagen's (OTCPK:VLKAF, OTCQX:VLKAY) diesel emissions scandal may threaten the future of diesel-powered vehicles, along with their clean air and fuel economy reputation, possibly accentuating “a secular, long-term shift from diesel to gasoline."
- Max Warburton, an automotive analyst at Bernstein Research, is blunt about whether the scandal means the end of diesel: “Yes, it probably does,” he says.
- Volkswagen’s headache "is only the latest setback for diesel... Popular, and hence political, opinion is leaning away from diesel, and compliance costs [are] rising," says Exane BNP's Stuart Pearson.
- Meanwhile, gasoline engines have over the years become smaller, more powerful and with lower emissions.
- Though diesel cars are fairly rare in the U.S., they are mainstream in Europe, with cheap fuel as the major selling point; in 2014, diesel motors powered 40% of passenger cars on the road in Europe, and diesel cars comprised 53% of all new car sales in the region in 2014.
- Relevant tickers: FCAU, OTCPK:PEUGF, OTCPK:DDAIF, OTCPK:DDAIY, OTC:RNSDF, OTCPK:CTTAY, OTCPK:VLEEF
Sep. 16, 2015, 2:15 AM
- Automakers are continuing to reposition themselves for the advent of driverless cars as competition heats up to develop a fully autonomous vehicle.
- Google named industry veteran John Krafcik CEO of its self-driving car project on Monday, and other carmakers are snapping up software experts to refocus their products and business models.
- New developments: BMW (OTCPK:BAMXY) is testing a driveless taxi/car-sharing project, while Mercedes-Benz (OTCPK:DDAIF) is considering a similar limousine service.
Sep. 15, 2015, 6:35 PM
- Porsche and Mercedes-Benz are planning electric cars to take on Tesla (NASDAQ:TSLA), as luxury brands begin to see TSLA as serious competition.
- Volkswagen's (OTCQX:VLKAY, OTCPK:VLKAF) Porsche division has unveiled a prototype four-seat sedan sports car, powered by electric batteries similar to those used by TSLA, that not only charges in 15 minutes but also accelerates faster than the 911.
- Porsche’s electric car, which is due to reach the market within five years, will be "better than a Tesla," Matthias Mueller, head of the Volkswagen unit, tells Bloomberg.
- Also, Daimler's (OTCPK:DDAIF, OTCPK:DDAIY) Mercedes division is ready to release an electric car within the next few years, according to a report from Auto News, which cites a Daimler board member in charge of Mercedes’ car development; the car reportedly would go 250-310 miles between charges.
The Daimler Group is one of the biggest producers of premium cars and the world's biggest manufacturer of commercial vehicles.
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Industry: Auto Manufacturers - Major
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