A study by auto supplier Continental AG said electric cars will not have a cost advantage over gas powered autos until 2025. High battery prices, ramp up expenses, and concerns over charging times were the main reasons why, according to the Detroit News.
What maybe one of the first Mustang hardtops ever made will be auctioned off in Indianapolis this month. It is said to be among the pre-production orders dating back to early 1964. The seller claims the VIN number shows it was one of those very early cars. Remember that place and time when I tell you the car rolled on 13-inch tires and had a three speed transmission.
Alfa Romeo’s Stelvio SUV will carrying an MSRP of $41,995, sans $995 transportation for the base of three models. Two of three offered models will go on sale here this summer Alfa said, with the pricing and timing of the top of the line Quadrifoglio to be announced “later this year.”
Here is something you probably did not expect – An Official Synthetic Motor Oil for a movie. But that is what Valvoline announced. It is the official oil for the upcoming “Transformers: The Last Knight” in theaters June 21.
Toyota reported lower profits in the fourth quarter even though global sales rose better than six percent. Unfavorable currency exchange rates was one of the main reasons cited for the decline. Looking ahead, Toyota said expected slower sales here in the U.S. may be offset by higher demand in some emerging countries. Yet, it also said a stronger yen and increased marketing expenses will lead to lower profits this year.
Ford’s annual meeting tomorrow could be interesting. It comes amid reports that some board members are not happy with the company’s stagnant stock price as CEO Mark Fields moves the company to invest in electric vehicles, autonomous cars and mobility. The rub among investors is that any profits from those investments are likely to only appear years down the line – the age old battle of how much do you invest in today and potentially drive up stock prices, and how much a company invests in tomorrow. As the sales bubble continues to burst, there are also questions from Wall Street regarding how much auto firms will spend on incentives to spur sales.
And this just in and I quote this press release verbatim:
GAC начинает строительство нового промышленного парка для стимулирования развития подразделения электромобилей
This apparently has to do with the construction of a new industrial park in China by one of that nation’s auto makers.