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Tesla gets a perfect score from consumers

Tesla gets a perfect score from consumers

While Tesla’s Model S P85D got occasional complaints, it managed to receive the highest rating ever. The S model not only managed to get a perfect score, but moreover, it succeeded by scoring 103 points on a 100-point scale, according to Consumer Reports (CR) magazine. This model is the better […]

Luxury car sales seen falling due to China’s economy

Luxury car sales seen falling due to China’s economy

The recent China downturn seems to put its stamp also on the luxury car division worldwide, with sales estimated to drop, despite them being partly compensated by the growth in demands in the U.S. and Middle East auto markets. Bentley sales, the U.K.’s luxury car marquee, witnessed a drop in […]

REFILE-Caterpillar Inc plans to cut 475 more jobs

REFILE-Caterpillar Inc plans to cut 475 more jobs

As revenue declined from global mining and construction activities, heavy machinery manufacturer  Caterpillar Inc. plans to cut down costs and is about to do that with a new round of layoffs. The Illinois-based company announced its workers this week that it would cut 475 jobs from the customer services support […]

Volkswagen to invest $340 million in South Africa

Volkswagen to invest $340 million in South Africa

As Volkswagen AG is looking to become world’s biggest automaker by 2018, the German company plans to invest $340 in the South African industry for new products and infrastructure. The car manufacturer stated that it will spend around $228 million on production facilities at the Uitenhage factory, situated near Port […]

BAIC in talks with Daimler for stake purchase

BAIC in talks with Daimler for stake purchase

The Chinese automaker BAIC Motor is in talks with the German luxury carmaker Daimler AG for a stake into the company, as two sources for Reuters stated. Daimler already has 10% stake in BAIC, Hong Kong’s listed unit of China’s Beijing Automotive Group and discussions on BAIC’s investment in Daimler […]

Daimler would welcome new Chinese investor

Daimler would welcome new Chinese investor

Carmaker Daimler AG expressed its openness to welcome new long-term Chinese shareholders after a media report announced that Chinese automaker BAIC Motor was interested in purchasing a stake from the German automotive company. After the Beijing car manufacturer stated it was looking into investing in a major stake at Daimler, […]

Denso invests $400 million to exand, adding 500 jobs

Denso invests $400 million to exand, adding 500 jobs

Denso, the global Japanese auto parts manufacturer will expand its production and build a new warehouse with an investment worth $400 million, which will lead to 500 new job openings in East Tennessee. The expansion was announced by Governor Bill Haslam and Economic & Community Development Commissioner Randy Boyd at the […]

Volkswagen examines exporting Russia-built cars

Volkswagen examines exporting Russia-built cars

The German carmaker Volkswagen might decide to export cars produced in Russia to other countries in an attempt to compensate the plunging sales that are happening in the struggling auto market there. A Volkswagen spokesman said that while no decision has been made yet, “There are studies within the Volkswagen […]