Oct. 21, 2014, 4:52 PM
- Daimler (OTCPK:DDAIF) has sold its 4% stake in Tesla (NASDAQ:TSLA), and terminated the share-price hedge it started in 2013. The sale will "result in a cash inflow of around $780 million" for the Mercedes parent.
- Daimler affirms it will continue sourcing the powertrain for its Mercedes B-Class Electric Drive from Tesla - development work is now complete - and keep cooperating on "current projects."
- Tesla's value has risen a bit since Daimler originally acquired a 9.1% stake back in '09.
- TSLA -1.3% AH.
Oct. 17, 2014, 7:40 AM
- Automobile registrations rose 6.4% to 1.235M vehicles in September, according to the European Automobile Manufacturers Association.
- A strong rate of growth was seen across European Union nations.
- The month included an extra selling day compared to a year ago.
- Sales growth by automaker: Volkswagen (OTCQX:VLKAY) +6.7%, Peugeot (OTCPK:PEUGY) +9.8%, Fiat (NYSE:FCAU) +6.1%, General Motors (NYSE:GM) -5.9, Renault (OTC:RNSDF) +10.7, Daimler (OTCPK:DDAIF) +5.2%, Toyota (NYSE:TM) +0.4%, Ford (NYSE:F) +6.7%, BMW (OTCPK:BAMXY) -1.0%, Nissan (OTCPK:NSANY) +16.9%, Hyundai (OTC:HYMLF) +6.3%, Mazda (OTCPK:MZDAY) +26.4%, Subaru (OTCPK:FUJHY) +8.5%, Jaguar Land Rover (NYSE:TTM) +3.9%.
Oct. 10, 2014, 8:27 AM
Oct. 8, 2014, 1:53 PM
- The EPA says the fuel economy of 2013 models sold in the U.S. averaged 24.1 mpg, up half a mpg from the prior year's model.
- The modest 2.1% improvement is below the pace called for by some environmental groups and just a fraction of what would be needed to keep pace with the government's target for a 54.5 average mpg for the 2016 model year.
- A higher mix of SUV and truck sales offset technology gains by automakers.
- Related stocks: GM, F, TM, OTCPK:FIATY, HMC, OTCPK:NSANY, TSLA, OTCQX:VLKAY, OTCPK:DDAIF, OTC:HYMLF, OTCPK:BAMXY, OTC:KIMTF, OTCPK:MMTOF, TTM, OTCPK:SZKMY, OTCPK:FUJHY, HMC, FCA.
Oct. 8, 2014, 9:17 AM| Comment!
Oct. 8, 2014, 7:50 AM
- Fiat (OTCPK:FIATY) CEO Sergio Marchionne thinks there is room in the industry for a merger to create an automaker bigger than Toyota.
- Marchionne might be the man for the job after helping guiding the acquisition of Chrysler from Daimler and pushing Fiat through a complicated transaction to create Fiat Chrysler Automotive (NYSEARCA:FCA).
- Morningstar analyst Richard Hilgert agrees that the auto industry may see more M&A activity due to the needed economies of scale to compete.
- Automaker stocks: GM, F, TM, OTCPK:FIATY, HMC, OTCPK:NSANY, TSLA, OTCQX:VLKAY, OTCPK:DDAIF, OTC:HYMLF, OTCPK:BAMXY, OTC:KIMTF, OTCPK:MMTOF, OTCPK:PEUGF, OTC:RNSDF, TTM, OTCPK:SZKMY.
Oct. 7, 2014, 7:11 AM| Comment!
Oct. 3, 2014, 2:37 PM
- A Daimler (OTCPK:DDAIF) plant in Alabama could see union representation very shortly, according to The Wall Street Journal.
- The UAW's effort in the South to unionize has pivoted toward a strategy of working with German unions.
- Southern politicians are expected to vigorously fight the UAW push.
- A news conference has been scheduled by the UAW for later today.
Oct. 3, 2014, 6:18 AM
- Daimler (OTCPK:DDAIF) and Renault-Nissan are extending their manufacturing alliance to include engines and gearboxes.
- "This relationship is in its fifth year. Progress has gone well beyond our initial expectations," says Renault-Nissan CEO Carlos Ghosn.
- Renault (OTC:RNSDF) will now supply Daimler with a 1.5 liter four cylinder diesel engine for use in its Mercedes-Benz C-Class. Mercedes in turn will supply its 2 liter four cylinder gasoline engine for use by Nissan's (OTCPK:NSANY) premium brand Infiniti.
- Nissan has also been granted a license to make Daimler's 9-speed automatic transmission for use in Infiniti vehicles.
Oct. 3, 2014, 4:21 AM
- In a note yesterday, BofA/ML listed the following Buy ideas:
- ABB (NYSE:ABB), CRH (NYSE:CRH), Gamesa (OTCPK:GCTAF, OTCPK:GCTAY), Hugo Boss (OTCPK:BOSSY, OTC:HUGPF), Imperial Tobacco (OTCPK:ITYBF, OTCQX:ITYBY)
- Firm also listed the following Underperform ideas:
- Daimler (OTCPK:DDAIF, OTCPK:DDAIY), Infineon (OTCPK:IFNNF, OTCQX:IFNNY)
Oct. 3, 2014, 4:07 AM
- Marking the climax of an eight-year investigation, seven current and former managers at Airbus (OTCPK:EADSY), and previous shareholders Lagardere (OTCPK:LGDDF) and Daimler (OTCPK:DDAIF), will stand trial in a French court today over insider trading claims when they sold shares in what was then EADS in 2006.
- Prosecutors are expected to argue that the execs and shareholders knew the full extent of industrial problems on the A380 and the likelihood of a costly redesign of the A350 when they sold their shares.
- The announcement of worsening delays on the A380 and a large profit warning wiped 26% from the EADS stock price on June 13, 2006, erasing €5.5B ($6.96B) of market value.
- OTCPK:EADSY -0.3% AH
Oct. 1, 2014, 1:31 PM
- Mercedes-Benz (OTCPK:DDAIF) unit sales +10.6% to 27,315.
- Sales growth by Mercedes class: C-Class -1.6% to 6,285; E-Class -13.5% to 4,883; S-Class +393% to 1,909; M-Class +8.8% to 3,460; GL-Class -8.3% to 2,154.
- Sprinter sales rose 2.6% to 2,208.
- Smart sales up 19.7% to 748.
- Pre-owned sales for Mercedes-Benz increased 30.1% to 8,648.
Sep. 26, 2014, 1:59 PM
- A forecast for strong growth in the luxury segment underpins the aggressive investments many foreign automakers are making in China.
- General Motors expects 10% of all cars sold in China will be a luxury model by the end of the decade.
- Luxury sales are up 15% YTD in the nation.
- Related stocks: OTCPK:DDAIF, OTCPK:BAMXY, OTCQX:VLKAY, GM, OTCPK:NSANY, TM, TTM, F.
Sep. 24, 2014, 10:47 AM
Sep. 18, 2014, 3:16 AM
- The Consumer Financial Protection Bureau has put forward a plan to begin supervising the finance units of major car companies, overseeing the 38 largest nonbank lenders in the automotive industry.
- Under the plan, the regulator will scrutinize whether nonbank car-loan providers are discriminating against minorities, using deceptive tactics in marketing loans and following debt-collection laws.
- The new plan would put the finance divisions of major automakers under federal supervision for the first time.
- Related tickers: GM, F, TM, OTCPK:FIATY, HMC, OTCPK:NSANY, TSLA, OTCQX:VLKAY, OTCPK:DDAIF, OTC:HYMLF, OTCPK:BAMXY, KMX
Sep. 17, 2014, 7:36 AM
- Automobile registrations increased 1.8% to 701K vehicles in August, according to the European Automobile Manufacturers Association.
- The rate of monthly growth is the slowest of the year.
- Sales declined slightly during the month in Germany, France, and Italy.
- Sales growth by automaker: Volkswagen (OTCQX:VLKAY) +9.4%, Peugeot (OTCPK:PEUGY) +1.9%, Fiat (OTCPK:FIATY) -2.8%, General Motors (NYSE:GM) -14.7%, Renault (OTC:RNSDF) -3.1%, Daimler (OTCPK:DDAIF) -5.3%, Toyota (NYSE:TM) -6.2%, Ford (NYSE:F) +17.4%, BMW (OTCPK:BAMXY) -1.4%, Fiat (OTCPK:FIATY) -2.8%, Nissan (OTCPK:NSANY) +1.6%, Hyundai (OTC:HYMLF) +2.0%.
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