Bugatti unveils €11m supercar to mark 110th anniversary March 5, 2019 Luxury car brand Bugatti has unveiled a €11m (£9.5m) supercar, but will not name the wealthy mystery buyer. La Voiture Noire, which was created for the French firm’s 110th anniversary, was snapped up by an unnamed Bugatti fan and is thought to be the most expensive new car of all time. The one-off supercar, unveiled [...]
Carmaker Porsche facing German tax investigation March 3, 2019 Luxury carmaker Porsche is facing an investigation over alleged tax debts. The sportscar manufacturer said on Sunday that it was cooperating with German prosecutors in relation to its tax treatment treatment of employees taking early retirement and benefits given to former executives. The benefits are reported to include parties, private plane trips and chauffeur services. [...]
IBM’s Watson supercomputer to solve the mobility problem in tie-up with Volkswagen’s SEAT February 26, 2019 IBM and Volkswagen's Spanish unit SEAT have unveiled a standalone app that hopes to predict what mode of transport and route is best for urban users through artificial intelligence (AI). The app, called Mobility Advisor, will utilise the power of IBM's Watson supercomputer to present commuters with the best way to navigate cities, whether that's [...]
Germany’s top court cancels Volkswagen dieselgate hearing February 22, 2019 Germany’s top court has cancelled a much-anticipated hearing over Volkswagen’s diesel emissions scandal, just days before it was set to place. The Federal Court of Justice cancelled a planned hearing for 27 February after the plaintiff withdrew their complaint against the manufacturer. But in a rare move it still gave its opinion, knocking down the firm's [...]
Autotech M&A deal value falls to five-year low in second half of 2018 February 20, 2019 Merger and acquisition value in the automotive technology sector hit a five year low in the second half of 2018 as car manufacturers struggled with dwindling demand in China and a global crackdown on emissions. A total of 100 M&A deals were completed in the second half of last year, including Renault, Ford and Volkswagen’s [...]
Volkswagen invests £750m in electric battery manufacturing ahead of e-vehicle mass production January 25, 2019 Volkswagen is to start making electric car batteries and charging points, as it readies itself to mass produce electric vehicles in the coming years. The German car maker said today it will invest $870m (£754m) by 2020 in developing parts for electric cars, adding its batteries operation would make new battery cells as well as [...]
Ford profits hit by tariffs as US car maker records losses in every region except North America January 24, 2019 Ford, the second biggest car maker in the US, recorded losses in every global region except North America in 2018, according to its full-year results. The company, which is in the midst of a major global restructuring drive, is to implement cost-reduction plans and job losses in Europe, looking to shake up its South American [...]
European car sales down for fourth straight month as emissions testing continues applying skids to market January 16, 2019 A fall in Chinese demand and tougher emissions testing continued to put the brakes on European car sales in December, which dropped for the fourth month in a row. New car registrations dropped 8.4 per cent last month, said the European Automobile Manufacturers Association (EAMA), following an eight per cent drop last month. Read more: Off [...]
World Federation of Advertisers sets up digital media taskforce to tackle fraud January 14, 2019 The World Federation of Advertisers (WFA) has created a global taskforce to tackle the growing problem of ad fraud and improve data transparency. The WFA today said it has assembled a team of top marketing executives tasked with addressing the key challenges facing digital media. Read more: Brexit, ad fraud and #MeToo – what does the [...]
Volkswagen deliveries fall year-on-year in December January 11, 2019 Volkswagen deliveries fell by 9 per cent year-on-year in December, the car maker revealed today. Worldwide deliveries to customers shrunk to 540,600 cars from 594,200 in December 2017. However, overall deliveries were up by 0.2 per cent to 6.24m last year – hitting a new record – the group said. The ongoing trade war with the [...]