Retail News CRM

Category: Automotive

Retail News Asia is committed to providing both local and global retailers with the latest Auto and Car news throughout the Asian market. This on a daily base.

  • Daimler Posts Forecast-Beating Results For Q3 2020 As Demand Rebounds

    Daimler Posts Forecast-Beating Results For Q3 2020 As Demand Rebounds

    Daimler shares surged 4.5 percent on Friday after the luxury carmaker posted forecast-beating third-quarter results, buoyed by a better-than-expected rebound in sales of luxury cars in September. European car registrations rose slightly in September, the first increase this year, industry data showed on Friday, suggesting a recovery in the auto sector in some European markets where coronavirus infections were lower. Swedish truckmaker AB Volvo also posted third-quarter core earnings well above forecasts thanks to a healthy jump in orders.

    Daimler’s third-quarter earnings before interest and tax reached 3.07 billion euros ($3.59 billion), it said late on Thursday, beating the 2.14 billion euro Refinitiv consensus.

    The Stuttgart-based company is due to publish further financial details on Oct. 23 and said it would publish updated guidance for the full year at that time.

    Analysts had expected premium carmakers to benefit from a rebound in demand and welcomed Daimler’s strong cash flow during the quarter.

    “Free cash flow beat is a solid surprise,” Philippe Houchois, an analyst at Jefferies, said in a note.

    Daimler said it expected the positive momentum to continue in the fourth quarter, assuming there are no further coronavirus lockdowns.

    The COVID-19 pandemic had led to a slump in sales, pushing the company to operate losses in the first and second quarters.

    To counter losses, Daimler’s Mercedes-Benz has stopped building sedans in the United States to focus on more profitable SUVs, combined its fuel cell development with Volvo Trucks, and halted an automated development alliance with BMW..

    Earlier this month, Daimler said it will cut fixed costs, capex, and research and development spending at Mercedes-Benz by more than 20% by 2025 as part of a strategy overhaul to take the brand further upmarket.

    The move will see Mercedes-Benz, currently, the world’s top-selling premium car brand, turn its back on a decades-old strategy of chasing sales volume to focus on the industry’s most profitable segments: limousines and sport-utility vehicles.

    Lees ook:

  • New-Generation Hyundai i20 Sketches Revealed

    New-Generation Hyundai i20 Sketches Revealed

    Hyundai Motor India Limited (HMIL) has revealed the design renderings of the new-generation Hyundai i20, which will be launched in India next month. This will be the third-generation model of the i20, with the current generation model having debuted in 2014. The new i20 is designed around the company’s theme of sensuous sportiness. Needless to say, the new-gen i20 gets a complete overhaul including a new design. The look of the car is bolder now and the stance is sportier too, with a sloping hood upfront. The cascading grille and the headlight cluster are completely new and add to the bold look. The rear too sees a complete change of design, with new boot lid and sharp looking taillights which form a ‘Z’.

    Hyundai says that the new i20 has been designed keeping four elements in mind which are proportion, architecture, design, technology. The cabin of the new i20 has been completely re-done. It is likely to be an all-black affair and get features like a digital instrument cluster, 10.25-inch touchscreen infotainment unit, flat-bottom steering with mounted controls, dual airbags, rear AC vents, charging sockets, Hyundai’s BlueLink connected car technology, and other more

    The new i20 is expected to get three engine options which include the 1.2-liter petrol, the 1.5-liter diesel and the 1.0-liter turbocharged petrol engines, similar to the ones found on other Hyundai cars. Transmission options will include both manual and automatic gearboxes. The car has already started making its way to Hyundai dealerships across the country and as we said earlier, we expect the new-generation i20 to be launched in November 2020. It will continue to go up against rivals such as the Maruti Suzuki Baleno, Tata Altroz, and the Volkswagen Polo.

    Lees ook:

  • Geely’s New EV Plant Will Build Premium Polestar Cars

    Geely’s New EV Plant Will Build Premium Polestar Cars

    An electric vehicle (EV) factory planned by the Chinese automaking group Geely will produce cars under the premium Polestar marque, two people with direct knowledge of the matter told Reuters on Monday. Zhejiang Geely Holding Group Co Ltd plans to build a plant with an annual manufacturing capacity of 30,000 premium EVs in the western city of Chongqing, run by a wholly-owned, newly registered company, showed documents on its website.

    Geely and Polestar declined to comment on the marque. The plan comes as foreign automakers including BMW AG and Tesla Inc expand EV production in the world’s biggest market, sourcing major EV components such as batteries locally and often exporting the end product.

    Hangzhou-based Geely is China’s most internationally known automaker. It owns Volvo Cars and Lotus, almost half of Proton and 9.7% of Daimler AG. Its Hong Kong-listed Geely Automobile Holdings Ltd is planning a Shanghai float.

    Through wholly-owned company Polestar, it builds low-volume Polestar 1 hybrid performance cars in the western city of Chengdu and Polestar 2 volume sedans in Taizhou in the east.

    It also plans to begin production of the Precept sedan, displayed at this year’s China auto show.

    Polestar aims to eventually offer bigger, more sporty vehicles at its showrooms, which currently span nine countries and whose number it plans to raise to 45 from 23 by year-end.

    Polestar Chief Executive Thomas Ingenlath told Reuters the firm is scouting markets in Asia-Pacific and the Middle East.

    Geely is also building a factory in China to make sport-utility vehicles under the Lotus marque, Reuters reported.

    Lees ook:

  • Royal Enfield Meteor 350 Launch Date Revealed

    Royal Enfield Meteor 350 Launch Date Revealed

    The Royal Enfield Meteor 350 finally has a launch date! It will be launched in India on November 6, 2020. It is going to be the most important launch for Royal Enfield after the 650 Twins. The Meteor range represents a new era for the company, as the bikes are built on a brand new platform and get an all-new engine too. The Royal Enfield Meteor 350 will be positioned as a global product and is likely to replace the Thunderbird 350. Leaked brochures and other documents suggest that Royal Enfield will offer the Meteor 350 in three variants, Fireball, Supernova, and Stellar.

    The main differences, cosmetically, seem to be the new instrument console set-up and the new split seat design, together with other changes in the rear fender, headlight, and taillight. The instrument console, certainly is the center point of the changes, with an asymmetrical design, and could possibly offer far more information than the rather rudimentary set-up on the Thunderbird 350X. Design cues are likely to include a tear-drop shaped fuel tank, bright colour options, LED daytime running lights, new alloys, and a split-seat.

    As mentioned earlier, the Meteor is likely to employ a new frame and a new engine. Spyshots reveal that the Meteor 350 uses a double-cradle chassis as opposed to a single downtube frame on the Thunderbird 350. Plus, the new 350 cc engine on the Meteor is likely to generate better power and torque figures than the 350 cc UCE (unit construction engine) but not so much that it overwhelms first time buyers. The leaked brochure suggests that the engine will pump out 20.2 bhp and 27 Nm of peak torque.

    Another set of spy shots suggest that the Meteor will get a secondary TFT color display, along with the main unit that comes with an analog speedometer and LED panel for trip meter and other essential information. The leaked images show that the new TFT display will have a turn-by-turn navigation feature, which in turn suggests that the new Meteor could also get Bluetooth connectivity, making it the first Royal Enfield motorcycle to get it.

    We expect the RE Meteor 350 to be priced between ₹ 1.5 lakh and ₹ 2 lakh and it will go up against the Benelli Imperiale 400, Jawa 300 and the newly launched Honda H’Ness CB350 and the latter has been solely launched by HMSI to go up against the Meteor 350.

  • Tesla’s Release Of New ‘Self-Driving’ Software Closely Watched By U.S. Regulator

    Tesla’s Release Of New ‘Self-Driving’ Software Closely Watched By U.S. Regulator

    The U.S. auto safety regulator said on Thursday it was closely watching Tesla Inc’s release of a software version intended to allow its cars to drive themselves, saying it stood ready to protect the public against safety risks. Tesla on Tuesday night released a beta, or test version, of what it calls a “Full Self Driving” software upgrade to an undisclosed number of “expert, careful” drivers. The release prompted online posts by excited recipients who shared video snippets of their car driving apparently autonomously on city streets at night.

    During a Tesla earnings call on Wednesday, Chief Executive Elon Musk said the latest upgrade was planned to be widely released by the end of this year, with the system becoming more robust as it collected more data.

    “NHTSA has been briefed on Tesla’s new feature, which represents an expansion of its existing driver assistance system. The agency will monitor the new technology closely and will not hesitate to take action to protect (the) public against unreasonable risks to safety,” the National Highway Traffic Safety Administration said in a statement.

    NHTSA in July said its special crash investigation team had “looked into 19 crashes involving Tesla vehicles where it was believed some form of advanced driver assistance system was engaged at the time of the incident.”

    Musk for years has promised self-driving for the company’s vehicles but missed several self-imposed deadlines.

    Researchers, regulators and insurance groups say true self-driving is still years away and more complex than companies anticipated several years ago. They have criticized Tesla’s promotion of its existing semi-automated Autopilot system as dangerously misleading.

    A consortium of self-driving technology companies, Partners for Automated Vehicle Education (PAVE), which includes Ford Motor Co, General Motors Co and Google’s self-driving unit Waymo, criticized Tesla’s approach.

    “Public road testing is a serious responsibility and using untrained consumers to validate beta-level software on public roads is dangerous and inconsistent with existing guidance and industry norms,” PAVE said in a Thursday statement.

    Autopilot and similar advanced driver assistance systems can provide steering, braking and acceleration support under limited circumstances, generally on highways.

    Tesla’s website describes the new software release as “Autosteer on City Streets,” saying the system requires active driver supervision and does not make the car autonomous.

    Tesla owners can purchase “Full Self Driving” for $8,000 in hopes of eventually receiving the upgrade. Musk said early Thursday the price would rise by $2,000 on Monday, but later in the day tweeted U.S. price hikes would be pushed to Thursday next week. Similar price increases will apply in other countries as the test version was released there, he added.

    On Twitter, Tesla owners receiving the test version posted videos of their experience, claiming the car “literally sees everything,” setting indicators on its own and navigating turns even without clear lane markings. https://bit.ly/3kpgvUu

    They also posted a picture of the software update release notes, which said the system “may do the wrong thing at the worst time,” urging drivers to keep their hands on the wheel and pay extra attention.

    Reuters could not reach Tesla for comment on NHTSA’s statement and to confirm the authenticity of the release note.

    Lees ook:

    Lees ook:

  • Tesla May Build A Battery Plant In Indonesia

    Tesla May Build A Battery Plant In Indonesia

    Tesla is reportedly planning to build a facility for making batteries in Indonesia a report by CNBC revealed. “Minister of Industry (Menperin) Agus Gumiwang confirmed about Tesla’s plan, he said that Tesla would later be directed to build a factory in Batang. Currently, the discussion process between Tesla and the government is still ongoing,” says the report.

    “I said you put the investment here today, we will give the reserves. So, if we always change from commodity base to downstream. So, we see production downstream. That will turn Indonesia into a great country into the global supply chain,” said Indonesia’s coordinating minister of maritime affairs and investment, Luhut Binsar Pandjaitan.
    Reportedly, this facility would come up in Batang. All this comes after Tesla CEO Elon Musk pleased with mining companies to increase their Nickel production. Tesla was already in talks with the Indonesian government for building a new venture for nickel as the South East Asian country has rich reserves of the mineral.

    Indonesia has banned exporting Nickel which could be one of the reasons why Tesla is now keeping to invest in the country. Tesla has already outlined its vision for scaling the production of its batteries to 200 GWh by 2023 and 3 TWh by 2030 and the only way it will achieve this ambitious target is by having a facility in Indonesia.

  • Daimler Chief Eyes China Growth As Trade Tensions Rise

    Daimler Chief Eyes China Growth As Trade Tensions Rise

    Daimler’s Chief Executive said China will remain Mercedes-Benz’s biggest growth market in the next decade and the German carmaker will adjust production locations to capture shifts in demand as global trade tensions continue to rise.

    The remarks by Ola Kaellenius come against a backdrop of increasingly strained relations between the United States, China and Europe after almost a decade of growth that has helped Mercedes to emerge as the world’s biggest-selling luxury car brand.

    “The situation has become much rougher, with a tendency toward rougher talks, right up to and including trade conflicts,” Kaellenius told the Frankfurt-based ICFW Journalists association late on Monday. “We need to look at our production footprint and where it makes sense, shift our production,” he said during the video call meeting.

    “Last year we sold around 700,000 passenger cars in China. The next biggest market is the U.S. with between 320,000 and 330,000 cars.”

    Thanks in large part to a strong rebound in demand from China, Daimler and German rival BMW both pre-released forecast-beating third-quarter results.

    “In the next 10 years we also expect the biggest growth in China,” Kallenius added, explaining that the luxury carmaker will follow the market.

    But with international trade tensions on the rise, the outlook for global sales remains uncertain.

    Britain’s Brexit negotiations could end without tariff-free trade with the European Union and serves as an example of how things can go wrong, the Swedish executive explained.

    If Britain and the European Union fail to clinch a deal, World Trade Organization (WTO) rules would apply, resulting in tariffs.

    “In the event of a so-called hard Brexit, we would not open factories, because this would not be worth it, given our sales numbers,” Kaellenius said, referring to sales in Britain. “We would have to learn to live with WTO rules.”

    Increasingly fragmented global markets make it harder to build cars at a profit because it reduces economies of scale in production, he said.

    Mercedes-Benz, for example, only builds its top-of-the-line S-Class model in Germany. With global sales of only 100,000 vehicles, it hardly makes business sense to build new production lines in the United States and China to build these cars locally, he said.

    However, tensions between the United States and the rest of the world are likely to remain, regardless of whether the Republicans or Democrats win the U.S. election next month.

    “What the two (presidential) candidates are saying is that they have an interest in improving the trade balance, and we need to be ready for that,” Kaellenius said.

    Lees ook:

    Lees ook:

  • Tesla Is Pushing New Software Update To Increase The Range The Model Y

    Tesla Is Pushing New Software Update To Increase The Range The Model Y

    Tesla has been relentlessly improving its cars and now a new software update that is coming to the relatively new Model Y will enhance the range of the vehicle. The software update numbered 2020.40.7 is behind these new efficiency improvements.

    “Your car’s range has increased with new software that improves the efficiency of the motors and the climate control systems,” Tesla said in the update release notes.

    It also notes that there is no impact on the efficiency of the HVAC system or the performance of the vehicle with these range enhancements. Fundamentally, there are no trade-offs.

    “Note: These changes do not impact acceleration or overall climate control performance,” Tesla added.

    As reported by Electrek, a Tesla Model Y owner noted the new software update accounted for a meager enhancement in range to something between 320 and 325 miles. Tesla officially has also enhanced the range of the Model Y from 316 miles to 325 miles.

    This is not the first time the company has done this as it recently increased the range of the Model 3 by 15 miles.

    Lees ook:

    Lees ook:

    Lees ook:

  • Tesla To Export China-made Model 3 vehicles to Europe

    Tesla To Export China-made Model 3 vehicles to Europe

    Tesla said on Monday it would start exporting China-made Model 3 cars to more than 10 European countries this month, joining a growing number of automakers using China as an export hub for electric vehicles.

    The U.S. carmaker, which started delivering vehicles made in its Shanghai factory in December, will export China-made cars this month to countries including Germany, France, Italy and Switzerland, it said in a statement.

    Elsewhere, German rival BMW is preparing to export its electric iX3 model, made at a joint venture plant in Shenyang, China, to Europe, while Daimler is shifting production of its Smart branded city cars to Hangzhou Bay.

    Tesla has been expanding in China even as tensions between Washington and Beijing have been escalating. The Shanghai factory, Tesla’s first car plant outside of the United States, aims to build 150,000 vehicles this year.

    “Support from Chinese government towards the industry, innovative local companies and customers embracing new technologies make China the best market for smart electric vehicles,” Tesla said, adding it would expand car production, charging and sales networks in China.

    The electric vehicle maker, which sold more than 11,000 Model 3 cars last month in China, the world’s biggest auto market, is also building new car manufacturing capacity in Shanghai to make its Model Y sport-utility vehicles.

    Reuters reported in September that Tesla was planning to export Model 3 vehicles made in China to Asian and European markets, citing people familiar with the matter.

    The export of the Model 3 to Europe comes as Tesla is in the process of building a German factory on the outskirts of Berlin and after the German government announced a subsidy of up to 9,000 euros for buyers of electric cars, including the Model 3.

    Lees ook:

  • Porsche Sells More Than 10,000 Units Of The Taycan EV Worldwide In 9 Months

    Porsche Sells More Than 10,000 Units Of The Taycan EV Worldwide In 9 Months

    We saw the production version of the Porsche Taycan at the 2019 Frankfurt Motorshow and the car was subsequently launched in select markets. Porsche’s first all-electric sports car has been well received across the globe as the company has sold a total of 10,944 units worldwide from January to September 2020. These numbers are staggering and show the inclination of buying an electric sports car. Now another statistic which shows this sharp rise in demand is the number of units sold by Porsche in the first half of 2020. Porsche sold a total of 4480 Taycans from January to June 2020, which goes to show that the remaining 6464 units were sold in just three months.

    While the sales of the Taycan could have taken off in the first half of the 2020, the coronavirus pandemic saw a markets and production come to a halt. With the opening up of several markets post lockdown, the pent-up demand for the Taycan seems to have kicked in and that’s why we see more cars being sold in the last 3 months.

    The Porsche Taycan is scheduled to hit the Indian shores as well very soon. We know that it’s good because we’ve driven the car and told you all about it. The Porsche Taycan sports two permanently excited synchronous electric motors that can churn out a maximum of 600 bhp and will a range of over 500 km thanks to its high voltage lithium-ion batteries. The electric car will get 800-volt chargers with fast charging capability, which can offer a 400 km range in 15 minutes of charge time. It can go from 0-100 kmph in under 3.5 seconds.

    Lees ook:

    Lees ook:

  • Uber Seeking Options Including Partial Sale For Uber Elevate

    Uber Seeking Options Including Partial Sale For Uber Elevate

    Uber Technologies Inc is seeking options for its Uber Elevate business, including strategic partnerships or a partial sale, Axios reported on Friday, citing multiple sources.

    The move reflects Chief Executive Officer Dara Khosrowshahi’s obsession with achieving profitability, the report added. Uber declined to comment on the report.

    Lees ook:

  • Auto sales rise to year high

    Auto sales rise to year high

    Auto sales climbed to 27,252 units in September, the highest monthly number this year, as Vietnam contained its second Covid-19 outbreak.

    It represented a 32 percent rise from August, when hundreds of new Covid-19 cases were diagnosed, according to a report by the Vietnam Automobile Manufacturers Association (VAMA).

    Passenger vehicles accounted for 75.7 percent of the sales, commercial vehicles for 23.5 percent, and special-purpose vehicles for the rest.

    However, sales in the first nine months fell 22 percent year-on-year to 179,155 units as social distancing was imposed in the second quarter due to the disease outbreak and incomes fell.

    Local brand Truong Hai Auto (Thaco) retained the top spot with a 34.6 percent share of the market through its sales fell 11 percent to 59,709 units.

    It was followed by Toyota with 41,109 units and Mitsubishi with 17,228 units, both representing double-digit declines too.

    Honda and Ford rounded off the top five.

    On June 28 the government cut first-time registration fees by half for locally made vehicles to foster sales amid the pandemic.

    The reduction will last through this year before returning to old levels on January 1, 2021.

    Auto sales had risen 11.7 percent to 322,322 units last year.

    Lees ook:

  • Rolls-Royce shuts Vietnam dealership

    Rolls-Royce shuts Vietnam dealership

    U.K. luxury car company Rolls-Royce has closed down its dealership in Vietnam and is looking for a new partner to replace it.

    The company said on Tuesday that the dealership, Regal Motor Cars in Hanoi, had not proven as effective as expected.

    However, servicing would remain unaffected for existing customers, with Regal continuing to provide it until the company appoints a new dealer.

    The dealership opened in 2014 with a showroom on Ly Thuong Kiet Street in downtown Hoan Kiem District, and a service center on Nguyen Van Linh Street, Long Bien District.

    But the focus was on servicing existing vehicles rather than selling large numbers immediately.

    There are several hundred Rolls-Royce cars currently in Vietnam, including its latest model, the Cullinan, which costs more than VND32 billion ($1.38 million) for the standard version.

    It is not known if the company is close to finding a new distributor.

    Rolls-Royce is a subsidiary of BMW, the German giant, though the two brands operate independently.

  • Honda To Introduce New 110 cc Motorcycle In India

    Honda To Introduce New 110 cc Motorcycle In India

    Honda Motorcycle and Scooter India (HMSI), one of India’s leading two-wheeler manufacturers, is getting ready to launch a new affordable motorcycle in the 110 cc category. Yadvinder Singh Guleria, Director, Sales and Marketing, HMSI, said that with the ongoing COVID-19 pandemic, a new customer has emerged who would like to shift from public transport to personal mobility. Keeping this new customer in mind, Honda Motorcycle and Scooter India is working on an affordable motorcycle which will cater to both urban and semi-urban geographies.

    “As we proceed towards Unlock 5.0, more and more people are focusing on personal mobility. Our market research shows there is a new customer who is not very comfortable at this stage of using public transport and would prefer an affordable two-wheeler. While we have launched the Hornet 2.0 and the H’Ness CB 350 in the premium segment, work is also on to introduce an affordable 110 cc motorcycle. At this stage, I can’t share a timeline on when we will introduce the product, but it will be introduced,” Guleria said during a one-on-one interaction.

    According to Guleria, almost 95 percent of Honda’s sales and distribution network is now operational. While September wholesale despatches of two-wheelers have been encouraging, he cautioned that the real picture of the industry will emerge from actual retail sales. At this point, he said, there’s still some pent-up demand for two-wheelers which is being met. Going forward, the festive season is expected to usher in some cheer to two-wheeler sales as well, but he cautioned that sustainable growth in the industry will depend on how the economy and the overall sentiment shape up in the months ahead.

    Lees ook:

  • Nissan Says China Sales Rose 5.1 Per Cent In September

    Nissan Says China Sales Rose 5.1 Per Cent In September

    Japanese automaker Nissan Motor said on Sunday its sales in China rose 5.1% in September from a year earlier, to 141,595 vehicles.

    China’s auto market, the world’s biggest, is a key focus for the embattled carmaker as it struggles to fix problems stemming from ousted leader Carlos Ghosn’s aggressive expansion drive.