Volkswagen share prices dropped 23 per cent in just one stock trade day after it was found to be cheating emissions tests. The company could face a fine from the EPA of up to US$18 billion. It’s understood Volkswagen’s US arm purposely installed a defeat tool and software on various […]
Industry
Australian vehicle sales for August 2015 – MX-5 off to great start
VFACTS has released the national vehicle sales figures for Australia for August 2015, and so far this year the stats show locals have bought 3.2 per cent more vehicles compared with the same eight-month period in 2014. Once again SUVs are the flavour of the month, with SUV sales jumping […]
Widow of BMW saviour Johanna Quandt dies at 89
Johanna Quandt, the third wife and one-time secretary of Herbert Quandt, died last Monday at her home in Bad Homburg, Germany. She was 89 years old. No reason has been provided from Johanna Quandt Foundation. Her husband Herbert Quandt turned Germany’s BMW AG into the largest luxury automotive manufacturer in […]
Sergio Marchionne retracts bid on FCA and GM collaboration
Fiat Chrysler CEO Sergio Marchionne has confirmed he is no longer considering a possible merger with General Motors, four months after his initial proposal was rejected. In his first public comments regarding the merger, Marchionne confirmed that following the rejection from GM’s board in March, he is no longer pursuing […]
Local Motors one step closer to mass-producing 3D-printed cars
3D-printed mass-produced vehicles could become a reality thanks to Local Motors, with plans to introduce low-speed electric vehicles early in 2016. The Arizona start-up has ambitions to become a disruptive force in vehicle manufacturing by pioneering the use of 3D printing. Local Motors is an open source company which crowd-sources […]
Ferrari could be worth over $11 billion in IPO valuation
According to Fiat-Chrysler boss Sergio Marchionne, Ferrari could be valued at around US$11 billion in the brand’s initial public offering (IPO) later this year. Speaking to media at the unveiling of the updated Fiat 500 in Turin, Italy, Marchionne said the brand is worth “at least” 10 billion euros. He […]
Australian vehicle sales for May 2015 – HiLux on top
The national VFACTS vehicle sales figures for Australia during May 2015 have been released, with the Toyota HiLux coming out as most popular overall despite the new model being just around the corner. In terms of the most popular manufacturer or brand, Toyota has planted itself at the top of […]
Ford offering its EV patents to other carmakers, for a fee
It seems that very few things in this world are free, and Ford knows this. The American manufacturer has announced it will share its patents with other carmakers relating to its electric vehicle technology, at a cost. Ford is currently sitting on top of a pile of more than 650 […]