BMW Group has posted its financial and sales results for the first half of 2022, detailing a steep drop in the company’s delivery numbers but a spike in profit figures over the same period last year. All up, BMW Group posted a profit before tax figure of 16.1 billion euros […]
Industry
Australian vehicle sales for July 2022: VFACTS
Australian new vehicle registration figures for July have been released, in the form of VFACTS, and they show a slight increase in overall sales compared with the same month last year. One area that is clearly gaining interest is electric vehicles, with sales booming 276.6 per cent year-to-date (YTD). During […]
Automotive bodies reach agreement on emissions, no EV mandates
Australia’s peak automotive organisations have reached a ‘historic’ agreement that sets out a loose roadmap in Australia’s transition to low emissions and all-electric fleets in the future. The agreement was made at a recent Industry Summit, which was attended by Aussie organisations that cover everything from the sale and distribution, […]
Bentley global sales up 3% in H1 2022, revenue up 29%
Bentley sales are up 3 per cent for the first half of 2022, with revenue up 29 per cent and operating profit up a whopping 124 per cent compared with the same six-month period last year. Despite difficult times the industry is facing this year, with supply chain issues stemming […]
Porsche planning to buy 50% stake in Red Bull F1 – report
Porsche is planning to purchase as much as 50 per cent of Red Bull’s F1 team, according to leaked documents from Moroccan authorities. Specifically, Porsche reportedly has plans to purchase a 50 per cent stake in Red Bull Technology, which would likely see Porsche and Red Bull’s new-found powertrain division […]
Logitech chief predicts semiconductor chip shortage will end this year
The head of tech company Logitech has said that it’s likely that the production slowdowns, rising costs and logistical nightmares caused by the shortage of semiconductors could be over by the end of the year. The optimistic forecast came courtesy of Bracken Darrell, chief executive at Logitech. In a first-quarter […]
Porsche tops 2022 JD Power APEAL study, BMW X6 highest-ranked model
Porsche has taken the overall honours in the 2022 JD Power US Automotive Performance, Execution and Layout (APEAL) study, with the results showing that for the first time since 2014 overall customer satisfaction has declined. Battery electric vehicles have closed the gap when it comes to overall satisfaction compared with […]
GM battery joint-venture getting $2.5 billion loan from US Energy Department
In a significant turn of events for the world of battery electric vehicles, the US Energy Department has confirmed it will loan a General Motors and LG joint-venture US$2.5 billion. Specifically, the Department of Energy says that the $2.5 billion is to be used to finance the construction of manufacturing […]