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Archive for the ‘Volvo’ Category

Volvo Backs Out of IPO Due to Trade and Market Conditions

Trump's ongoing tensions with China and Europe push decision.

by on Sep.10, 2018

Volvo Chief Executive Hakan Samuelsson said that trade tensions between the U.S. and China as well as the EU were one reason to halt its IPO.

President Donald Trump’s seemingly ongoing trade war with, well, everyone as well as a less-than-robust period for auto stocks has forced Volvo Cars to put off its initial public offering — for now, anyway.

Volvo Cars, which is owned by China-based Geely, previously announced it was considering the IPO to help raise funds for additional research and expanding of production. However, the current trade tensions between the U.S. and China as well as the European Union has forced a rethink.

News Now!

“We’ve come to the conclusion that the timing is not optimal for an IPO right now,” Volvo Chief Executive Hakan Samuelsson told Reuters by telephone on Monday.  (more…)

Why Fly? Self-Driving Volvo 360c Offers Alternative for Long-Distance Travel

Autonomous, electric, the concept will let travelers do “what they want to do.”

by on Sep.05, 2018

The Volvo 360c Concept is designed to let an owner travel in Business Jet-style comfort.

Flying is glamorous, or so the airlines would have you believe, but ask anyone who has had to deal with security lines, crowded cabins and inevitable delays and you’ll get an entirely different picture.

That’s where something like the Volvo 360c might offer a pleasant alternative. While the industry has focused on using driverless vehicles to replace conventional taxicabs, the self-driving concept from Volvo has long-distance travelers in mind. Billed as “the future of autonomous travel,” the 360c is designed to skip the lines and deliver the sort of experience you might expect flying on a private jet.

Cruise Along with Us!

“Domestic air travel sounds great when you buy your ticket, but it really isn’t,” said Mårten Levenstam, senior vice president of corporate strategy at Volvo Cars, adding that “The 360c represents what could be a whole new take on the industry.”

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With New EQC, Mercedes-Benz Goes All-In on All-Electric

“We are flipping the switch,” says CEO Zetsche, with new Tesla challenger - and more to come.

by on Sep.04, 2018

The new Mercedes-Benz EQ features a pair of electric motors producing up to 402 hp.

Mercedes-Benz is “flipping the switch,” Daimler AG CEO Dieter Zetsche said Tuesday as he pulled the covers off the new EQC, the German brand’s new, long-range electric crossover.

The first entry from the all-new EQ sub-brand, the compact CUV won’t be alone for long, with Mercedes developing a wide range of battery-electric vehicles set to come to market by the middle of the coming decade, including the smaller EQA due out next year. Along with all-electric offerings in the works from brands as diverse as Audi, Infiniti, Volkswagen and Volvo, they pose a potentially  existential threat to Tesla, according to many industry analysts.

Plug In!

“With the EQC – the first fully electric SUV from Mercedes-Benz – we are flipping the switch,” said Zetsche, during the EQC debut in Stockholm. “Electric drive is a major component in the mobility of the future. We are therefore investing more than ten billion euros in the expansion of our EQ model portfolio, and more than one billion euros in global battery production.”

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Tesla Under Assault as Wave of New EVs Come to Market

Mercedes-EQ’s first entry set to target Model 3.

by on Aug.30, 2018

Tesla's Model 3 production has been the focus of the company much of the year, but now Elon Musk is going to need to look over his shoulder.

Its been a rocky road for Tesla during the past year, the automaker struggling to get production of its critical Model 3 under control. But just as the factory in Fremont, California, gets into gear, Tesla is facing a new problem that could prove equally challenging.

Jaguar fired the first shot recently with the launch of its I-Pace battery-electric vehicle. Now, Mercedes-Benz is getting ready to plug in, but rather than target a pricey niche, the electric EQ C crossover the German maker will introduce next week takes direct aim at Tesla’s mainstream-priced Model 3.

Product News!

And the assault will only accelerate in the months to come, new long-range EV entries popping up at an ever-increasing pace over the next few years to the point that, by some estimates, there could be as many as 100 alternatives in U.S. showrooms by very early in the decade. (more…)

Lexus, Volvo Tie for Top Spot in New Brand Survey

Overall, consumers slightly happier with ownership experience.

by on Aug.30, 2018

Volvo tied with Lexus for the top brand honors in the latest ACSI survey, receiving its highest score ever.

Vehicle owners in the U.S. are slightly happier with their ownership experience this year than last year, according to the latest American Customer Satisfaction Index.

The index, which is the result of surveys of car owners on their overall service and product experience with specific auto brands, creates a score between 1 to 100. According to the latest edition, the industry-wide score for 2018 is 82, up from 81 in 2017.

News You Can Trust!

“Car owners are often highly satisfied—they’ve kicked the tires enough times that they’re happy with their decision when they buy,” said David VanAmburg, managing director at ACSI.  (more…)

Geely Readying to Plow $1.9B into Lotus Expansion

Could a Volvo-based crossover be in the works?

by on Aug.10, 2018

Geely is rumored to be ready to grow the Lotus brand, giving the Evora a crossover sibling or two.

Geely appears ready to expand its sphere of influence once again. The parent company of Volvo and major shareholder of Daimler AG is rumored to be examining the viability of putting $1.9 billion into sports car maker Lotus.

Holding 51% of the ownership stake, Geely is considering growing the company’s physical and intellectual presence in England with the idea of adding to the brand’s product line-up, including a crossover or smallish SUV, Bloomberg reported.

The Last Word!

Geely isn’t just looking to increase the size of the brand, it wants to expand the size of its ownership stake. It’s buying shares from Etika Automotive, which owns the other 49% of the company. (more…)

European Automakers’ US Sales Fared Well in July

Mercedes-Benz still the luxury sales leader.

by on Aug.02, 2018

Mercedes-Benz saw sales fall more than 20% in July, but much of that was attributed to a computer problem during the company's busiest week.

With the threat of steep tariffs hanging over their heads, European carmakers enjoyed positive sales in July even though one of the leaders, Mercedes Benz, struggled a bit.

Mercedes-Benz USA reported July sales of 20,034, a decrease of 22.7% from July 2017 as archrival BMW sold more vehicles. Lexus appears to hold the lead in luxury segment with sales of 25,403 units, which dropped 12.1% on a volume basis.

Sales News!

Meanwhile, Mercedes-Benz Vans reported July sales increased 5.9%. On a year-to-date basis, sales of Mercedes-Benz vehicles totaled 178,882, giving it the lead in luxury vehicle sales for 2018. (more…)

Genesis Tops JD Power APEAL Survey

Korean up-start topples luxury mainstays, but Detroit mainstream brands also gain ground.

by on Jul.25, 2018

The Genesis brand aced another test, a month ago also topping Power's IQS.

Genesis, the upstart Korean luxury brand, has pulled off another surprise, this time landing the top spot in the 2018 J.D. Power APEAL study, surpassing such traditional highline brands as Porsche, Mercedes-Benz, BMW and Lexus.

It’s the latest in a series of coups by Genesis, which was spun off by Hyundai just two years ago. And it comes barely a month after the Korean marque also landed in the top spot on Power’s widely followed In initial Quality Survey. But there were some other surprises in the APEAL report which measures how well individual brands and models are satisfying their owners. Mainstream brands, notably including some Detroit marques, are rapidly gaining ground on the luxury badges that have traditionally led in customer satisfaction.

Beyond the Headlines!

But the industry, as a whole, achieved record levels in the 2018 APEAL study – the name short for “Automotive Performance, Execution and Layout” – the second year in a row that has happened.

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Detroit Auto Show Moving to June in 2020, Adding Major New Features

Sponsors aim to revive what's been North America’s leading car show.

by on Jul.23, 2018

Toyota Pres. Akio Toyota is shown here revealing the 2019 Camry during this year's NAIAS.

The North American International Auto Show will move from January to June in 2020, a new timeslot that organizers are betting will help revive the flagging momentum of what had long been one of the industry’s most important annual events.

The Detroit Auto Dealers Association had signaled its intention of abandoning its traditional, mid-winter schedule, though a switch to October was also under study. But that would have conflicted with other shows in Europe and Asia, the dealer group’s Executive Director Rod Alberts told TheDetroitBureau.com in an exclusive interview.

We Keep You In the Know!

In a background briefing ahead of today’s official announcement, Alberts said one of the advantages of a summer event is the ability to add new functions that expand beyond the confines of Detroit’s sprawling Cobo Hall convention center. “We realized we have to change the show (and) showcase Detroit, too,” said Alberts, who has been running the DADA for the past 28 years.

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Musk Denies a Quarter of Model 3 Orders Were Cancelled – But Reveals New Worry

Order rate, he reveals, has fallen behind increase in production.

by on Jul.20, 2018

Tesla CEO Elon Musk denied claims in a recent analyst report suggesting that nearly a quarter of all Model 3 orders have been cancelled.

Elon Musk has dismissed as “bs” a report that suggested a growing number of advanced reservations for the Model 3 battery-car are being cancelled.

The recent report from investment bank Needham & Co. isn’t the first to raise that prospect, which could make it difficult for Tesla to achieve its promised profit for the second half of 2018. Needham’s Rajvindra Gill joined a growing chorus of analysts this week in downgrading Tesla shares, triggering another dip in the stock, traded as TSLA.

“Dunno where this bs is coming from,” CEO Musk said in a Thursday night tweet – but by trying to support the idea that there’s still strong demand for the Model 3, the South African-born executive actually may have sent a signal that Tesla is facing longer-term problems. Musk indicated Tesla received 5,000 orders for the Model 3 last week, but that’s actually less than the production target for the battery-car in the months to come.

The Last Word!

According to a report Needham issued Thursday, 24% of the estimated 400,000 original Model 3 reservations have been cancelled. That’s slightly higher than the 20% figure reported by data tracking site SecondMeasure in June. Each reservation is accompanied by a $1,000 deposit, so, if Needham is right, Tesla has had to refund more than $100 million and risk the loss of perhaps $4 billion or more in sales.

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