The company, which includes the ADESA wholesale auction unit, looks very different now from when it began the second quarter.
Continue Reading the above article 'KAR posts $32M net loss in Q2, but CEO expected wo...
The partnership will include supplying cells and battery systems as well as combining research. CATL will supply batteries for the Mercedes EQS luxury sedan, which Daimler says will have more than 430 miles of range.
Continue Reading the above article 'Daimler deepens alliance with Chinese battery make...
Between June and July, new-vehicle purchase intent in the U.S. declined 4 percent while used-vehicle intent rose 2 percent, according to a survey by McKinsey & Co. on how consumers are responding to COVID-19.
Continue Reading the above article 'Intent to buy used stabilizes while new-car intent...
After going public in June, Nikola posted a quarterly loss of $86.6 million. Founder Trevor Milton disputed some analysts' assertions that the company, which has not yet brought a product to market, fell short of expectations.
Continue Reading the above article 'Electric-truck maker Nikola has rough first earnin...
The supplier said it is bundling its Car Powertrain and E-Mobility units into one division to "further accelerate the transformation to plug-in hybrids and electric drives."
Continue Reading the above article 'ZF cuts internal combustion investments to focus o...
The supplier said it could not give detailed financial guidance for the rest of 2020, but said global auto production could fall 10 percent to 20 percent in the third quarter.
Continue Reading the above article 'Continental swings to $980 million loss in Q2...
Honda reported a quarterly operating loss as the pandemic spread to its key U.S. market, but the Japanese automaker still predicts a full-year profit. Honda's North American business booked an operating loss of 77.8 billion yen ($724.5 million) in the period.
Continue Reading the above article 'Honda plunges into red amid pandemic pain...
BMW lost $787 million in the second quarter as sales fell by 25 percent due to the coronavirus crisis. The automaker expects to make a full-year profit on the back of a second-half rebound.
Continue Reading the above article 'BMW posts first quarterly loss since 2009...
In sentencing former Google engineer Anthony Levandowski for stealing a trade secret from Google related to self-driving cars, months before becoming the head of Uber's rival unit, U.S. District Judge William Alsup described his conviction as the "biggest trade secret crime I have ever seen."
Continue Reading the above article 'Levandowski gets 18 months in prison for stealing ...
CDK Global reported revenue declined 8 percent in its fiscal fourth quarter, but swung to a quarterly profit with the completed sale of its digital marketing business.
Continue Reading the above article 'CDK avoids big financial hit from coronavirus...