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  • Mercedes-Benz plant starts production of the new GLA

    Mercedes-Benz plant starts production of the new GLA

    German car manufacturer Mercedes-Benz has commenced the production of its compact SUV Mercedes-Benz GLA at its Rastatt plant in Germany.

    “The ramp-up of the GLA is further proof of the diversity, competitiveness and efficiency of our production operations at the Rastatt plant. Within a very short space of time, our team mastered another ramp-up in ongoing series-production, while the location operates at full capacity and the preparations for the next generation of compact cars are running at full steam”, says Thomas Geier, Location Manager Mercedes-Benz Rastatt plant.

    The new GLA enters its current model year with an expanded range of engines and a visual upgrade of the interior and exterior design as well as updated equipment variants. Mercedes-Benz GLA made its global debut in 2013 and has been an important product in the company’s product portfolio.

    Mercedes-Benz Rastatt plant in Germany is the biggest employer in the region, with a workforce of around 6.500 employees. Within the global Mercedes-Benz production network, the Rastatt plant is the lead plant for the production of compact cars worldwide. The A-Class, B-Class and B-Class Electric Drive, as well as the compact SUV GLA are manufactured at the location.

    In 2016, more than 300,000 vehicles rolled off its production lines.

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  • Volkswagen and Tata agree to explore cooperation in India

    Volkswagen and Tata agree to explore cooperation in India

    Volkswagen has signed an agreement with Tata Motors to explore cooperation in India, company sources close to the matter said, as the German carmaker tries once again to conquer emerging markets.

    After months of talks, the carmakers have signed a memorandum of understanding (MoU) to deepen exchanges about technology, components and platforms, and analyze overlaps that could come from cooperation, one of three company sources said.

    VW, already the biggest carmaker by sales in China, is embracing electric cars and looking for new markets as it battles to recover from its diesel emissions scandal.

    A previous VW attempt to expand in emerging markets through an alliance with Suzuki Motor Corp. (7269.T) collapsed in 2015 after a fierce dispute.

    Winning emerging market share is an obvious goal for global automakers, but has yet to prove significantly profitable, except perhaps for budget-car champion Renault.

    “Covering entry-level segments will be crucial for major carmakers’ long-term growth plans,” said Ferdinand Dudenhoeffer, head of the Center of Automotive Research at the University of Duisburg-Essen.

    “A successful budget car can be a feeder to the rest of the brand,” said Dudenhoeffer, a former sales director of PSA Group’s Germany operations.

    VW’s efforts to make inroads in low-cost markets include China, the world’s biggest auto market, where it has scrapped a pre-dieselgate program and redrawn the plans for a budget car, company sources said. VW has pared costs for its MQB mass-market platform, sources told Reuters at the Geneva auto show.

    The vehicles will likely be introduced in 2019-2020 and may cost in the area of 8,000 euros to 10,000 euros ($8,500 to $10,500), sources said. VW had repeatedly failed in previous years to hit cost targets for a budget car priced between 6,000-8,000 euros.

    An announcement on budget models for China could be made at the Shanghai auto show next month, they said.

    VW views the budget car project as essential to protect its market-leading position in China against aspiring local manufacturers.

    “They’re offering relatively high quality at very aggressive prices,” VW brand chief Herbert Diess told Reuters in Geneva. “This is a concern for us.”

    VW is also working on a budget car for Latin America and has revamped its MQB architecture in a way that allows for greater savings on the models, sources said in Geneva.

    “We will continue to work on the budget car and we will offer good solutions here in the foreseeable future,” Chief Executive Matthias Mueller told Reuters in Geneva, without elaborating.

    In India, the owner of British luxury carmaker Jaguar Land Rover is restructuring its car business to cut its platforms to two from six to boost production efficiencies and adjust more quickly to market trends.

    “We confirm that we are in talks with VW for a potential alliance but an announcement will be made at an appropriate time,” a spokesman for Tata said.

    With a very low vehicle penetration rate, India, the world’s second most populous country, is a big attraction for Western carmakers as they search for growth.

    A spokesman for VW said it was discussing ways to expand its product portfolio with tailor-made solutions in India with both its car brands and potential partners.

    Light vehicle sales in India are expected to more than double to 7.1 million cars by 2025 from 3.4 million last year, according to IHS Markit.

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  • Gemalto to power China’s first internet car

    Gemalto to power China’s first internet car

    Gemalto is working with Banma Technologies, a new joint venture between Alibaba Group and SAIC Motor, to help produce China’s first internet car the Roewe RX5.

    The RX5 leverages Gemalto’s machine identification module (MIM) — securing cellular M2M connections for industrial applications — and features advanced telematics such as Bluetooth virtual car key, locationing of the vehicle, voice-command-enabled remote control of in-car functions, and real-time road condition alerts, etc.

    The MIM is compliant with the GSMA standards and supports remote provisioning of any operator’s profile.

    “The Roewe RX5, empowered by Alibaba’s YunOS operating system, is the first mass produced internet car. It’s a breakthrough embodying years of research and technological innovation,” said Alex Shi, CEO of Banma. “It is a product that demands the most secure and reliable end-to-end connectivity.”

    Suzanne Tong-Li, president of Greater China and Korea at Gemalto, said connected cars mark the beginning of digital transformation across the automotive industry, paving the way for autonomous vehicles in the near future.

    “Our expertise and global experience, combined with tried-and-tested secure connectivity solutions, put us in a sweet spot to help car manufacturers create smarter and more connected vehicles,” said Tong-Li.

    The Chinese car market is currently the largest and fastest-growing in the world. In 2015, foreign and domestic car makers sold a total of 21.1 million passenger cars, up by 7.3% compared to 2014.

    For 2016, the local connected car market is expected to generate a substantial revenue of $7.7 million.

    With an estimated compound annual growth rate of 45%, this market is potentially worth up to $33.9 million by 2020. Moreover, connected car penetration in China is projected to triple from 4.8% to 18.1% over the same period.

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  • Sale of cars down despite price drop

    Sale of cars down despite price drop

    Members of the Vietnam Automobile Manufacturers’ Association (VAMA) sold more than 17,600 cars in February, down 13 per cent from the previous month.

    The prices of many types of cars were adjusted in the market in recent months. This is the second month this year that the association has witnessed a drop in sales, although its members continuously reduced prices of their products.

    At the end of last month, prices of seven types of cars were adjusted, including imported and locally-assembled ones.

    Honda Vietnam decreased its price by VND80 million for Accord, which was imported from Thailand. Meanwhile, Toyota Motor Vietnam (TMV) announced new prices for Yaris models G and E, with a drop of VND47 million (US$2,057) and VND44 million, respectively. The imported Land Cruiser Prado TX-L and Land Cruiser VX also saw a revision in prices at nearly VND2.17 billion and VND3.65 billion, down VND264 million and VND70 million each.

    Honda Vietnam and TMV were followed by other automakers.

    Domestic automaker Thaco reduced the prices of Kia and Mazda models by between VND20 million and VND140 million each.

    A report from the People’s Committee in central Quang Nam Province showed that vehicles witnessed the highest inventory volume in the province, which was nearly 49 per cent higher than the previous month and almost triple compared with the same period last year.

    This was partly due to the increase in demand for vehicles before the Tet (Lunar New Year) holiday, which declined after the holiday. In addition, people were still waiting for prices to reduce further, especially once the import tax on vehicles from ASEAN countries dropped to zero per cent by January 1, 2018, according to the committee.

    While the consumption of locally-assembled cars was showing a declining trend, the volume of imported cars had sharply increased.

    According to the estimate of the General Statistics Office (GSO), Viet Nam imported some 9,000 complete built up units in February, worth $153 million, up 29 per cent in volume in comparison with the previous month but sticking to the same value.

    On average, each imported car in February was $17,000 — $4,850 lower than January – which meant almost all imported cars were less expensive.

    During the Government’s February meeting session, Prime Minister Nguyen Xuan Phuc reminded relevant ministries about the rapid increase of imported vehicles in the first two months of this year, which was due to the impact of the expected import tax decline in 2018.

    He said this was a warning to relevant ministries and sectors to strengthen management to create harmony between import and local auto manufacturing.

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  • Toyota sees Europe sales up 5 pct this year as hybrids push pays off

    Toyota sees Europe sales up 5 pct this year as hybrids push pays off

    Toyota Motor expects to increase its European sales by 5 percent this year to 975,000 vehicles and maintain its market share of around 5 percent, buoyed by the popularity of hybrids, its regional head said on Monday.

    Speaking ahead of the Geneva auto show, Johan van Zyl said sales of hybrid vehicles in Europe rose 40 percent last year and made up 32 percent of all sales in the region. For Toyota, Europe counts 56 countries, including Israel, Russia and Turkey.

    “We are on our way of achieving our target of having 50 percent of our mix in hybrids by 2020,” he told journalists.

    The executive said the outlook for Europe was clouded by upcoming elections, Britain’s pending exit from the European Union and persistent difficulties in the Russian and Turkish markets.

    He expects industry-wide sales in Europe to rise 1 percent this year. He said any increase in the western part of the region would likely be absorbed by some weakness in Britain, and expects some recovery in Russia.

    Van Zyl said PSA’s announcement on Monday that it would buy Opel from General Motors Co, creating Europe’s second biggest carmaker after Volkswagen AG, would not affect its own strategy.

    “We have no intention at the moment to alter any of our plans with regards to how we’re going to compete in the industry, we’ve got a very clear strategy,” he said, adding that Toyota would keep focusing on the A, B and C segments, keeping hybrids as its differentiator.

    “We are not a volume chaser, we want to create a sustainable, growing business in Europe,” he added.

    Van Zyl said Toyota was fully committed to its operations in the UK regardless of how the negotiations around Brexit pan out, but added that the carmaker was seeking to make the business more efficient.

    “The prudent approach is always to prepare yourself for the worst-case scenario. If we prepare for that and it’s better, then we are OK,” he said.

    He declined to comment on future production plans there other than saying Toyota “will produce vehicles in the UK”.

    Didier Leroy, Toyota’s executive vice president, added that a next-generation fuel cell car the group is developing with BMW will be ready in three to five years, while a separate project to develop a sports car with the German carmaker was ongoing.

    “The project has been globally approved, that means clearly that we will do it,” he said, but declined to give a timeline for when it would be produced.

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  • Volkswagen to unveil self-driving car as part of post-dieselgate shift

    Volkswagen to unveil self-driving car as part of post-dieselgate shift

    Volkswagen will show off a fully self-driving car at the Geneva auto show, as part of the German carmaker’s drive to be at the forefront of new technologies in the wake of its diesel emissions scandal.

    Europe’s biggest carmaker has said it will invest billions of euros in electric cars, ride-hailing and automated driving, and launch over 30 electric models by 2025 as it battles to recover from its emissions test cheating.

    The self-driving concept car called Sedric – a so-called Level 5 vehicle capable of fully automated operation – is a precursor for more such models from the Volkswagen (VW) group in years to come, Chief Executive Matthias Mueller said on Monday on the eve of car executives’ annual gathering in Geneva.

    VW is hiring top specialists and plans to spend several billions of euros on automated driving alone, Mueller said, without being more specific.

    Sedric can carry 4 passengers and could be used for ride-sharing fleets as well as for individual consumers, VW said.

    Internet giant Google was a forerunner in self-driving technology with its 2015 prototype vehicle, but has since been challenged by companies ranging from Uber to Apple, as well as traditional carmakers.

    Manufacturers and their suppliers are working on different technology suites – including cameras, radar and laser imaging technology lidar – to enable vehicles to drive themselves, but it will take years for these vehicles to come to market.

    Mercedes-Benz unveiled its fully autonomous F 015 luxury concept two years ago. But Toyota has said it does not expect to see Level 5 cars in widespread use for another 10-15 years, while Ford does not plan to offer such vehicles for consumers until 2025 or later.

  • Peugeot poised to buy GM’s Opel, creating a car giant

    Peugeot poised to buy GM’s Opel, creating a car giant

    France’s PSA Group is set to announce a deal to buy Opel from General Motors (GM.N) on Monday after striking an agreement with the U.S. carmaker and winning the blessing of its board for the acquisition.

    The maker of Peugeot, Citroen and DS cars said on Saturday it would hold an early Monday press conference with GM, at which the transaction is expected to be presented after Reuters reported that a deal had been struck between the two automakers.

    By acquiring Opel, the French group will leapfrog rival Renault (RENA.PA) to become Europe’s second-ranked carmaker after Volkswagen (VOWG_p.DE) by market share. Between them, PSA and GM Europe recorded 71.6 billion euros ($76 billion) in revenue and 4.3 million vehicle deliveries last year.

    The tie-up was approved on Friday by the PSA supervisory board, on which the French government, Peugeot family and China’s Dongfeng (0489.HK) are represented as shareholders, one source with knowledge of the matter said.

    Spokespeople for PSA and Opel declined further comment.

    The two carmakers, which already share some production in an existing European alliance, confirmed last month they were negotiating an outright acquisition of Opel and its British Vauxhall brand by Paris-based PSA, sparking widespread concern over possible job cuts.

    In their jointly issued invitation to a Paris press conference at 0815 GMT on Monday, PSA and GM gave no indication of its subject. Separate briefings for the German press and Opel unions are expected to be held the same day.

    Sources close to the talks had reported progress on Thursday after the carmakers narrowed differences on a near-$10 billion Opel pension deficit and other issues. GM’s European arm recently posted a 16th consecutive year of losses.

    The negotiations had encountered problems over GM demands that a PSA-owned Opel be barred from competing against its own Chevrolet lineup in markets including China, they said.

    But the “non-compete” issues were finally resolved as GM agreed to inject “substantially more” into the pensions than the $1 billion to $2 billion it had initially offered, another person said. The sources declined to give further details. Detroit-based GM, which came close to selling Opel to Magna (MG.TO) in 2009, has faced investor pressure to offload its struggling European arm and focus on raising profitability rather than chase the global sales crown currently held by VW.

    After fending off 2015 merger overtures by Fiat Chrysler with support from her board, GM Chief Executive Mary Barra agreed to target a 20 percent minimum return on invested capital and pay out more cash to shareholders.

    For PSA, the Opel deal caps a stellar two-year recovery under cost-cutting CEO Carlos Tavares, who said on Feb. 23 he would apply the same methods to Opel if the deal went through. PSA averted bankruptcy by selling 14 percent stakes to France and Dongfeng in 2014, to match a diluted Peugeot family holding.

    The acquisition offered an “opportunity to create a European car champion” and quickly exceed 5 million annual vehicle sales, Tavares told analysts as he presented full-year earnings. PSA also expects savings of up to 2 billion euros ($2.1 billion) from the tie-up, sources have said.

    Tavares also told his board that PSA would redevelop the Opel lineup with its own technologies to achieve rapid savings, according to people with knowledge of the matter.

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  • Ford exploring 3D printing of one-piece auto parts

    Ford exploring 3D printing of one-piece auto parts

    US based car manufacturer Ford Motor Company is exploring how large-scale one-piece auto parts, like spoilers, could be printed for prototyping and future production vehicles, as the first automaker to pilot the Stratasys Infinite Build 3D printer.

    Capable of printing automotive parts of practically any shape or length, the Stratasys Infinite Build system could be a breakthrough for vehicle manufacturing claims the company. It will provide more efficient and affordable way to create tooling, prototype parts and components for low-volume vehicles such as Ford Performance products, as well as personalized car parts.

    The new 3D printer system is housed at Ford Research and Innovation Center in Dearborn.

    “With Infinite Build technology, we can print large tools, fixtures and components, making us more nimble in design iterations,” said Ellen Lee, Ford technical leader, additive manufacturing research. “We’re excited to have early access to Stratasys’ new technology to help steer development of large-scale printing for automotive applications and requirements.”

    Wider adoption of 3D printing has been driven by recent technology advances, new areas of application and government support, according to Global Industry Analysts.

    By 2020, the global market for this emerging technology is expected to reach $9.6 billion, the organization reports. As 3D printing becomes increasingly efficient and affordable, companies are employing it for manufacturing applications in everything from aerospace to education to medicine.

    3D printing could bring immense benefits for automotive production, including the ability to produce lighter-weight parts that could lead to greater fuel efficiency. A 3D-printed spoiler, for instance, may weigh less than half its cast metal counterpart.

    The technology is more cost efficient for production of low-volume parts for prototypes and specialized race car components. Additionally, Ford could use 3D printing to make larger tooling and fixtures, along with personalized components.

    How it works
    With 3D printing, specifications for a part are transferred from the computer-aided design program to the printer’s computer, which analyzes the design. The device then goes to work, printing one layer of material at a time, then gradually stacking layers into a finished 3D object.

    When the system detects the raw material or supply material canister is empty, a robotic arm automatically replaces it with a full canister. This allows the printer to operate unattended for hours – days, even.

    Using traditional methods to develop, say, a new intake manifold, an engineer would create a computer model of the part, then have to wait months for prototype tooling to be produced. With 3D printing technology, Ford can print the intake manifold in a couple of days, at a significant cost reduction.

    3D printing is not yet fast enough for high-volume manufacturing, but it is more cost efficient for low-volume production. Additionally, minus the constraints of mass-production processes, 3D-printed parts can be designed to function more efficiently.

  • Mazda to recall 460,000 cars globally for diesel engine defects

    Mazda to recall 460,000 cars globally for diesel engine defects

    Japan’s Mazda Motor Corp said on Thursday it was recalling about 460,000 CX-5, Mazda3 and Mazda6 cars globally to fix multiple defects in their diesel engines, including a problem that could lead to engines stalling.

    The cars subject to the recalls were produced between Feb. 13, 2012 and Feb. 2 this year. No injury or fire has been reported from the defect, Mazda said.

    Of the total, 170,000 cars were sold in Japan and the remainder overseas.Japan’s Mazda Motor Corp said on Thursday it was recalling about 460,000 CX-5, Mazda3 and Mazda6 cars globally to fix multiple defects in their diesel engines, including a problem that could lead to engines stalling.

    The cars subject to the recalls were produced between Feb. 13, 2012 and Feb. 2 this year. No injury or fire has been reported from the defect, Mazda said.
    Of the total, 170,000 cars were sold in Japan and the remainder overseas.

  • BMW plans more purchasing with Daimler

    BMW plans more purchasing with Daimler

    BMW plans to expand its cooperation with Daimler in purchasing components, the carmaker’s new head of purchasing said in an interview with Frankfurter Allgemeine Zeitung.

    “It’s not been fully exploited; there are regular talks and we are discussing jointly purchasing more components,” Markus Duesmann was quoted as saying in an advance copy of the interview, due to be published on Friday.

    He did not give details of the plans or the possible savings that were being targeted.

    Daimler and BMW first started cooperating on purchasing of parts that aren’t crucial to their brand identity in 2008, such as tyres and seat frames.

    Duesmann also said BMW would have to alter its procurement to buy more software in the next few years to meet the trend for electric cars and autonomous driving. BMW could envisage using other battery suppliers too, he added.

    “We are in talks with all the major manufacturers and will make a decision for each model generation,” he said.

    BMW currently gets its batteries from Samsung.

  • Honda hits one-million unit production milestone in Indonesia

    Honda hits one-million unit production milestone in Indonesia

    PT Honda Prospect Motor (HPM) has crossed the one million-unit automobile production milestone in Indonesia, 14 years after it began manufacturing operations in the country.

    HPM began local automobile production in February 2003 with the Honda Stream at its factory located in Karawang, West Java, Indonesia. The Karawang Factory, built on an area of 512,500 square metres, has with a production capacity of 80,000 units. The second factory was inaugurated in January 2014 with a production capacity of 120,000 units, augmenting total production capacity to 200,000 units per year.

    Honda rides demand curve
    Over the years, the Japanese carmaker has seen demand grow for its products. In 2003, the company sold around 22,000 units. Since then, sales have risen considerably and Honda recorded 200,000 unit sales in 2016 with a 19% market share in the country. Currently, HPM produces seven models at its two factories, which include the Mobilio, BR-V, HR-V, Jazz, Brio RS, Brio Satya and CR-V.

    Indonesia is the best-performing global market for Honda. Sales reached an all-time record of 190,229 units, accounting for 44% of the carmaker’s overall 2016 ASEAN sales. The company attributes the sales increase of 14% over 2015 to its existing model line-up including the HR-V, Brio Satya and Mobilio, along with contribution from the newly-introduced BR-V.

    The Karawang Factory currently plays an important role in Honda’s global automobile component export worldwide. Its export destinations include neighbouring ASEAN countries such as Thailand, Malaysia, the Philippines, Vietnam, other Asian countries such as India and Pakistan, as well as Latin American countries, including Mexico, Brazil, and Argentina.

    HPM also delivers component parts to Japan. In 2016, Honda’s component export from Indonesia significantly grew and increased the number of containers exported from 5,600 in 2015 to more than 7,700 containers. In 2017, HPM plans to increase the export quantity to nearly 10,000 containers.

    Honda further strengthened its production operations with the opening of its stamping factory, which produces automobile component parts such as side panels, roof panels and floor panels. The factory began its operation in May 2016. The factory has implemented advanced production technology, including automatic continuous process and robotic system and has the production capacity of up to 2 million pieces component parts per year for both domestic sales and export.

    In September 2016, HPM made an additional 228 billion rupiah investment and started operation of its new factory for crankshafts. Honda employed advanced and environmentally friendly technology and adopted high-precision machines at this new factory to produce maximum of 240,000 crankshafts per year. This crankshaft factory meets regulations enforced by the Indonesian government for Low Cost Green Car (LCGC) models. Currently, HPM has achieved up to 87% local content in its products.

    Seiji Kuraishi, executive vice-president of Honda Motor Co, said, “It is a great achievement to arrive at this milestone in just 14 years and follows in Honda Motor Company’s 100 millionth unit of cumulative automobile production worldwide in September last year. Honda sales in Indonesia were ranked in fourth position for Honda globally, behind only US, China and Japan. Indonesia has always been and always will be an important market for Honda. We will continue to dedicate ourselves to doing business in Indonesia and the expansion of automobile production capacities with new factories is a testament to that commitment.”

    – See more at: https://www.autocarpro.in/news-international/honda-hits-million-unit-production-milestone-indonesia-23812#sthash.kzip7tzI.dpuf

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  • Maven Ventures backed Embark unveils its self-driving truck technology

    Maven Ventures backed Embark unveils its self-driving truck technology

    Self-driving technology for commercial trucking Embark has unveiled its self-driving truck technology to the public. The company—which gained approval by the State of Nevada earlier this year to begin testing its truck on public roads—has created a technology that allows trucks to drive from exit to exit on the freeway without any human input.

    Embark’s truck uses a combination of radars, cameras and depth sensors known as LiDARs to perceive the world around it.

    “Analyzing terabyte upon terabyte of real-world data, Embark’s DNNs have learned how to see through glare, fog and darkness on their own,” said Alex Rodrigues, CEO and Co-founder of Embark. “We’ve programmed them with a set of rules to help safely navigate most situations, how to safely learn from the unexpected, and how to apply that experience to new situations going forward.”

    “Spending weeks on the highway is tough on you,” said Owner-Operator Jeff Scorsur. “If I could still get the job done while driving in my own city and sleeping in my own bed, that would make my family very happy,” he said.

    According to Rodrigues, the idea for Embark came after blowing a tire on the interstate and waiting four hours for the tow truck to arrive.

    “Every single 18-wheeler that drove past had a sign on the back ‘Drivers Wanted’. It was so clear there was a shortage of drivers,” he said. “The numbers back that up. The American Transportation Research Institute estimates there is currently a shortage of 100,000 truck drivers in the industry, which is poised to only get worse as baby boomer drivers – the bulk of the industry’s workforce – retire over the next decade. Embark’s goal is to increase productivity per driver and prevent the shortage from becoming a crisis.”

    The team is backed by a multi-million dollar investment led by Maven Ventures. Maven’s previous investment in self-driving technology, Cruise Automation, sold to General Motors for $1 billion last year. Embark plans to quadruple its engineering team within the next year and aggressively expand its testing fleet to show their technology is ready for the nation’s highways.

    “We are committed to proving beyond a shadow of a doubt that this technology is safe and reliable,” said Rodrigues. “That means performing extensive tests and working with our partners in the government to get it—and the market—ready.”

  • Volvo Cars’ New XC60 SUV Will Automatically Steer You Out Of Trouble

    Volvo Cars’ New XC60 SUV Will Automatically Steer You Out Of Trouble

    Volvo Cars, the premium car maker, has announced that the new XC60 SUV – which will be revealed at the Geneva Motor Show – will feature three new advanced driver assistance features aimed at keeping the driver out of trouble.

    The new safety features are designed to provide the driver with automatic steering assistance or support – when required – to help avoid potential collisions. Volvo believes that these new features will make the new XC60 one of the safest cars on the road.

    “We have been working with collision avoidance systems for many years and we can see how effective they are. In Sweden alone we have seen a decline of around 45 per cent* in rear-end frontal crashes thanks to our collision warning with autobrake system. With the XC60 we are determined to take the next step in reducing avoidable collisions with the addition of steering support and assistance systems,” said Malin Ekholm, Senior Director, Volvo Cars’ Safety Centre.

    City Safety has been updated in the XC60 to include steering support, which engages when automatic braking alone would not help avoid a potential collision. In such circumstances, the car will provide steering assistance to avoid the obstacle ahead. City Safety helps to avoid collisions with vehicles, pedestrians and large animals. Steering support is active between 50-100 km/h.

    Volvo Cars has also added a system called Oncoming Lane Mitigation, which helps drivers to avoid collisions with vehicles in an oncoming lane.

    The system works by alerting a driver who has unwittingly wandered out of a driving lane by providing automatic steering assistance, guiding them back into their own lane and out of the path of any oncoming vehicle. This system is active between 60-140 km/h.

    “All three of these new features represent clear steps in our work towards fully autonomous cars,” added Malin Ekholm.

    Volvo Cars’ optional Blind Spot Information System, which alerts drivers to the presence of vehicles in their blind spot, has also received an update to include steer assist functionality that helps to avoid potential collisions with vehicles in a blind spot by steering the car back into its own lane and away from danger.

    “We have all of the benefits of the safety technology we introduced in our larger 90 Series cars in the new XC60. This is fully in-line with our strategic approach to develop automotive safety systems based on real-life, real-road safety. Our vision is that no one will be killed or seriously injured in a new Volvo car by the year 2020,” added Malin Ekholm.

    The XC60 will deliver a host of high-end safety systems, just like its larger 90 Series siblings, including Large Animal Detection, Run-off Road Mitigation and the semi-autonomous driver support and convenience system Pilot Assist as an option.

  • Tesla says Model 3 on track for volume production by September

    Tesla says Model 3 on track for volume production by September

    Tesla Inc said on Wednesday its mass-market Model 3 sedan was on track for volume production by September, encouraging investors who see the electric vehicle as the avenue to profitability for the young company.

    But the carmaker’s operations continued to burn through cash, and Chief Executive Elon Musk told analysts on a conference call that he may ask Wall Street for more.

    “According to our financial plan, no capital needs to be raised for the Model 3 but we get very close to the edge,” Musk told investors on a conference call. Tesla plans an additional $2 billion to $2.5 billion in capital expenses before the Model 3 launch and has $3.4 billion cash on hand.

    “We’re considering a number of options but I think it probably makes sense to raise capital to reduce risk,” Musk said.

    Musk said Chief Financial Officer Jason Wheeler, in his role for just over a year, would leave in April to work in public policy. He will be replaced by former Tesla CFO Deepak Ahuja, who was popular with investors.

    Tesla, whose shares rose as much as 3 percent after the bell before settling up around 1.6 percent to $277.90, beat analysts’ expectations for revenue. Its adjusted loss missed the consensus target calculated by Thomson Reuters I/B/E/S, although there was an unusually large range of estimates due to confusion over accounting for the acquisition of solar installer SolarCity.

    Ivan Feinseth, director of research at Tigress Financial Partners, said Tesla “delivered the results the market has been expecting” that drove the stock from a year low of $167.84 last February to a year high of $287.39 last week.

    By late spring or early summer, Feinseth estimated, Tesla will likely raise more money, noting that today’s highs could make it sooner rather than later.

    “You have to feed the ducks while they’re quacking. If they came to the market now they would be well received,” he said.

    Up to Wednesday’s close, Tesla’s stock had risen 53.9 percent in the last 12 months.

    Many investors and suppliers have predicted Model 3 volume production would be delayed until 2018, but Tesla said it would produce over 5,000 Model 3s per week “at some point in the fourth quarter”, and 10,000 vehicles per week “at some point in 2018”.

    Musk reiterated that Tesla still planned to deliver 500,000 cars in 2018 and 1 million vehicles by 2020.

    Tesla did not give its usual full-year delivery estimate, but said it expected to deliver 47,000 to 50,000 Model S and Model X vehicles combined in the first half of 2017.

    The company did not give a Model 3 target for this year and declined to update a previous disclosure made last April that 373,000 advance reservations had been taken for the car.

    “We’re still in great shape,” said Wheeler, when asked about early demand for the car.

    The public might not see the final version of the Model 3 until as late as July, when limited production begins, Musk said.

    Capital expenditures doubled in the fourth quarter to $521.6 million, as Tesla invests in its Fremont, California factory and its Gigafactory battery plant in Nevada.

    Cash rose by $309 million to $3.39 billion, which includes funds raised from a share sale last year.

    SolarCity installed more than 20 percent less solar in the quarter, as it focuses on profitability and cash over growth. Solar generation deployed fell to 201 MW in the fourth quarter from 253 MW a year earlier.

    Tesla’s net loss attributable to common shareholders narrowed to $121.3 million, or 78 cents per share, for the fourth quarter ended Dec. 31 from $320.4 million, or $2.44 per share, a year earlier.

    The adjusted loss of 69 cents per share compared with the analyst consensus of a 43-cent loss, according to Thomson Reuters I/B/E/S.

    Revenue rose 88 percent to $2.28 billion, topping Wall Street’s target of $2.18 billion.

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  • Porsche, Audi lift VW to record underlying profit

    Porsche, Audi lift VW to record underlying profit

    Record Audi and Porsche sales helped Volkswagen (VOWG_p.DE) swing to a record underlying profit in 2016, although a bigger than expected charge from the diesel emissions scandal meant it missed estimates for its operating profit.

    Sales of the German carmaker’s luxury brands lifted underlying operating profit before special items 14 percent to 14.6 billion euros ($15.5 billion) in 2016, after the company reported its biggest ever loss in 2015.

    VW forecast broadly stable earnings this year.

    Underlying profit was broadly in line with forecasts for the world’s biggest car manufacturer by volume sales, which hiked its dividend more than expected after group sales rose to new highs, with an 8.1 percent jump in fourth quarter deliveries.

    Volkswagen (VW) is struggling with the fallout from its admission 17 months ago that it rigged U.S. diesel emissions tests, a scandal that some analysts have estimated may cost it more than $30 billion in fines, compensation and vehicle refits.

    VW has since embraced a costly shift to more electric vehicles and last year eclipsed Toyota (7203.T) as the world’s top-selling carmaker with record deliveries of 10.3 million.

    ONE-OFF CHARGES

    Although group sales fell 4 percent in January on the back of national holidays and a tax hike on small-engine cars in China, its biggest market, VW forecast an underlying operating margin of between 6 and 7 percent for 2017, compared with the 6.7 percent it achieved last year.

    But the damage from the emissions cheating affair took its toll, with VW booking bigger-than-expected one-off charges of 7.5 billion euros in 2016, of which 6.4 billion were related to the emissions-test rigging scandal. Analysts had on average forecast the cost would be 4.2 billion euros in total.

    Including those charges, VW made a 2016 operating profit of 7.1 billion euros, missing a consensus forecast of 10.5 billion euros but a big swing from a loss of 4.1 billion euros in 2015.

    VW’s Chief Executive Matthias Mueller said the carmaker was now well set for the years ahead.

    “As the figures show, Volkswagen is very solidly positioned in both operational and financial terms. This makes us optimistic about the future,” he said in VW’s results statement.

    The return to profit at group level may help calm tensions in Wolfsburg where labour bosses and VW’s brand management have been sparring over its ability to tackle the high cost base of VW’s German plants, which what analysts and investors say will be key to a further recovery.

    VW said it would propose a dividend of 2.06 euros per preferred share, more than the 1.86 euros expected by analysts on average, and 2.00 euros per ordinary share for 2016.

    That is up from 0.17 euros and 0.11 euros respectively a year earlier, when VW had to cut the dividend because of the cost of the diesel emissions cheating.