Toyota sells off Tesla shares, too

Image 5c0881029de64c9281dbe3adc4cf5fe7.jpeg

Filed under: BMW , Toyota , Tesla The incredible rise of Tesla’s stock price has done little to now stop two major shareholders from ditching their stake in the American EV manufacturer. First, Daimler , parent company of Mercedes-Benz , ditched its four-percent stake , and less than a week later, Toyota is doing the same thing, selling off an undisclosed bit of its Tesla investment. The move comes as Toyota winds down sales of the RAV4 EV , which gets its batteries and electric motor from Tesla at the company’s Fremont, CA factory. “We have a good relationship with Tesla, and will evaluate the feasibility of working together on future projects ,” Toyota spokesperson Kayo Doi told Bloomberg via email. According to Bloomberg , Toyota maintained a 2.4-percent stake as recently as March 31, making it the tenth-largest of Tesla’s investors. As the Japanese shed an undisclosed percentage of its shares, though, another automaker might be eyeing the California company. Value Walk has a speculative story that claims BMW could be looking at tying up with Tesla, based on a reported meeting between execs from the two companies. The fact that the Munich-based company’s carbon-fiber expertise fits nicely with the Palo Alto company’s EV knowhow is apparently the driving force behind this speculation. But as usual, take this with a grain of salt. Toyota sells off Tesla shares, too originally appeared on Autoblog on Fri, 24 Oct 2014 14:15:00 EST.

Filed under: , ,

Tesla Toyota

The incredible rise of Tesla’s stock price has done little to now stop two major shareholders from ditching their stake in the American EV manufacturer. First, Daimler, parent company of Mercedes-Benz, ditched its four-percent stake, and less than a week later, Toyota is doing the same thing, selling off an undisclosed bit of its Tesla investment.

The move comes as Toyota winds down sales of the RAV4 EV, which gets its batteries and electric motor from Tesla at the company’s Fremont, CA factory.

“We have a good relationship with Tesla, and will evaluate the feasibility of working together on future projects,” Toyota spokesperson Kayo Doi told Bloomberg via email.

According to Bloomberg, Toyota maintained a 2.4-percent stake as recently as March 31, making it the tenth-largest of Tesla’s investors. As the Japanese shed an undisclosed percentage of its shares, though, another automaker might be eyeing the California company.

Value Walk has a speculative story that claims BMW could be looking at tying up with Tesla, based on a reported meeting between execs from the two companies. The fact that the Munich-based company’s carbon-fiber expertise fits nicely with the Palo Alto company’s EV knowhow is apparently the driving force behind this speculation. But as usual, take this with a grain of salt.

Toyota sells off Tesla shares, too originally appeared on Autoblog on Fri, 24 Oct 2014 14:15:00 EST. Please see our terms for use of feeds.

Permalink

View article:
Toyota sells off Tesla shares, too

Aging Prius, dropping gas prices putting hurt on hybrid, EV sales

Image 01-2011-toyota-prius.jpg

Filed under: Car Buying , Hybrid , Toyota , Electric “As Prius represents by far the biggest chunk of the hybrid marketplace, where Prius goes, the segment goes,” – Ed Kim, Autopacific Fuel prices in the US have been tumbling for the last several weeks, with the average price of a gallon of gas at $3.120 as of October 20, according to the US Energy Information Administration. That price reflects a serious recent drop from $3.299 on October 6. Reports have even suggested that those low numbers might not change for a little while , perhaps as long as years. While drivers certainly love paying less at the pump, the change may be hurting the market for more fuel-efficient models, including the Toyota Prius . According to a report from National Public Radio, sales of hybrids, plug-ins and EVs are down around 5 percent for the year , but trucks and SUVs have seen a 17 and 20 percent improvement, respectively. Autoblog Green’s By the Numbers reports indicate similar figures of around a 5.4 percent drop so far in 2014. In fact, as of September, green-car sales have endured their fourth straight month of declines . That segment of the market fell 11 percent year-over-year in August and 9.6 percent in September. “As Prius represents by far the biggest chunk of the hybrid marketplace, where Prius goes, the segment goes,” Ed Kim, Vice President of Industry Analysis at AutoPacific tells Autoblog . That paints a bleak picture for hybrids, because at the moment, the Prius is doing pretty poorly.

Filed under: , , ,

Toyota Prius

“As Prius represents by far the biggest chunk of the hybrid marketplace, where Prius goes, the segment goes,” – Ed Kim, Autopacific

Fuel prices in the US have been tumbling for the last several weeks, with the average price of a gallon of gas at $3.120 as of October 20, according to the US Energy Information Administration. That price reflects a serious recent drop from $3.299 on October 6. Reports have even suggested that those low numbers might not change for a little while, perhaps as long as years. While drivers certainly love paying less at the pump, the change may be hurting the market for more fuel-efficient models, including the Toyota Prius.

According to a report from National Public Radio, sales of hybrids, plug-ins and EVs are down around 5 percent for the year, but trucks and SUVs have seen a 17 and 20 percent improvement, respectively. Autoblog Green’s By the Numbers reports indicate similar figures of around a 5.4 percent drop so far in 2014. In fact, as of September, green-car sales have endured their fourth straight month of declines. That segment of the market fell 11 percent year-over-year in August and 9.6 percent in September.

“As Prius represents by far the biggest chunk of the hybrid marketplace, where Prius goes, the segment goes,” Ed Kim, Vice President of Industry Analysis at AutoPacific tells Autoblog. That paints a bleak picture for hybrids, because at the moment, the Prius is doing pretty poorly. For the year through September, its sales are down 11.39 percent, off by 10.15 percent for just that month.

Of course, the Prius also has things twice has hard. Not only does it have to deal with the falling fuel prices like the rest of its segment-mates, it’s about to be replaced. Rumors suggest that some versions of the next generation could get as much as 60 miles per gallon. “I do think that the next Prius will reignite interest in the segment, especially if it offers the 10-percent fuel economy improvement that Toyota has been claiming,” said Kim.

That improvement still might make things tough, though. According to Autotrader senior analyst Michelle Krebs speaking to Autoblog via email, “The next-generation Prius – and other hybrids and electrics – have a big challenge against traditional gas vehicles, which keep improving with every version in terms of fuel economy.”

Meanwhile, the overall US auto market is booming. As of August, the Seasonally Adjusted Sales Rate showed the best figures since 2006, at about 17.5 million units. “Right now, gas prices are dropping, sales of fuel-sippers are also falling (or at least not growing) and sales of pickup trucks and SUVs, including big ones, are way up,” said Krebs. Scroll down to listen to the full report from NPR.

Continue reading Aging Prius, dropping gas prices putting hurt on hybrid, EV sales

Aging Prius, dropping gas prices putting hurt on hybrid, EV sales originally appeared on Autoblog on Fri, 24 Oct 2014 11:32:00 EST. Please see our terms for use of feeds.

Permalink

Taken from:
Aging Prius, dropping gas prices putting hurt on hybrid, EV sales

Artist Peter Max’s Corvette collection headed to auction [w/video]

Image artist-peter-maxs-corvette-collection-headed-to-auction-wvideo.jpeg

Filed under: Classics, Performance, Auctions, Videos, Chevrolet, Celebrities, Read This

Peter Max - A Retrospective - 1960-2014

Sometimes, the stories that lead to cars turning up at auction are as interesting as the vehicles themselves. That’s absolutely the case with the Peter Max (pictured above) collection of vintage Chevrolet Corvette models that are scheduled to cross the block in the spring of 2016.

Max is perhaps best known as a ’60s pop artist who mixed vibrant colors with iconic imagery. However, classic car fans around New York City might know him better for storing a collection of 36 vintage ‘Vettes in public parking garages for decades. The assortment is pretty special because it consists of one example of every model year from the original 1953 up until 1989, according to The New York Times.

Unfortunately, New York parking garages aren’t really known for their cleanliness, and photos show the artist’s Chevrolet collection neglected, caked in dirt and dust. After moving the collection around between several locations in the past few years, Max finally brokered a deal to sell them all off for an undisclosed price earlier this summer.

The collection’s new owners are rehabbing the cars in preparation for selling them off. They’re hoping to keep them all together as a set, but they’re also apparently ready to let them go individually if that doesn’t work, a move that will likely build buzz around these cars as they move toward the auction block.

The most bizarre part about these Corvettes is how Max acquired them. Without spoiling too much, it involves a 1989 contest from the cable music channel VH1. Scroll below to watch a video about this fascinating collection, then go read the whole story over at The New York Times.

Continue reading Artist Peter Max’s Corvette collection headed to auction [w/video]

Artist Peter Max’s Corvette collection headed to auction [w/video] originally appeared on Autoblog on Fri, 24 Oct 2014 18:29:00 EST. Please see our terms for use of feeds.

Permalink

Read the original:
Artist Peter Max’s Corvette collection headed to auction [w/video]

What you missed on 10.24.14

Image u-turn-banner+6.58.01+PM.jpg

Filed under: , , , ,

uturn

Dodge Challenger2015 Dodge Challenger R/T Scat Pack

The goodness of the 2015 Dodge Challenger isn’t just limited to that 707-horsepower Hellcat model. As associate editor Brandon Turkus explains, there’s plenty to love about the Challenger R/T with its Scat Pack kit, complete with a 6.4-liter V8, eight-speed automatic transmission, and more poise than ever before. Read all about it in today’s Quick Spin.

Dodge Viper SEMA ConceptFiat-Chrysler SEMA lineup revealed

The annual aftermarket-fest that is SEMA is right around the corner, and today, Fiat Chrysler Automobiles showed us its entire hand. The custom cars, created by the Mopar division, touch on everything from the smallest Fiat 500 and Dodge Dart to super-powerful machines like the Challenger and Viper. Have a look here, to see what’s in store for SEMA.

Jason VinesDid Ford bug its former PR chief’s car and phone?

The Ford Explorer Firestone tire recall of 2001 was huge news. And in a new report from The Detroit News, Ford’s then-head of communications, Jason Vines, is accusing the Blue Oval of bugging his car and company phone during that time. The News received an advanced copy of Vines’ upcoming book, which sheds some light on this allegation, and you can read a preview of this whole situation, here.

Top Stories

What you missed on 10.24.14 originally appeared on Autoblog on Fri, 24 Oct 2014 19:32:00 EST. Please see our terms for use of feeds.

Permalink

Repetitive and Physical: 90 Years of Durability Testing

In 18 months, the durability team at General Motors’ Milford Proving Ground can put a vehicle through an entire lifecycle. Durability tests are long, repetitive and physically demanding.

Read More:
Repetitive and Physical: 90 Years of Durability Testing

Ford Q3 pretax profits drop to $1.18B

Image be9fcc44c2a941268e54b74437925f8d.jpeg

Filed under: , ,

Ford Investigation

Following positive third quarter financial results recently from General Motors, rival Ford took a tumble in Q3. The automaker posted pre-tax profits of $1.18 billion, compared to about $2.59 billion in Q3 2013, a drop of around 54 percent. Net income also suffered with $835 million made in the quarter, versus $1.272 billion last year, a decline of about 34 percent. The Blue Oval blamed the gloomy figures on three reasons in its release: “lower volume, higher warranty costs and adverse balance sheet exchange effects.”

There were problems of one kind or another in practically every region. North America experienced higher warranty costs than expected, partially due to recalls. The sales volume for the quarter was 665,000 units, versus 725,000 in Q3 2013, and pre-tax results amounted to $1.41 billion versus $2.296 billion last year.

South America and Europe both posted worse pre-tax results than last year. On the bright side, European volume was up slightly to 321,000 vehicles, from 303,000 in Q3 2013. The Middle East and Africa also lost $15 million, but that was an improvement compared to the $25 million loss previously experienced in this region.

The Asia Pacific region was also a mixed bag. Volume increased to 346,000 units, but pre-tax financials were $44 million, compared $116 million last year. According to Ford’s release, the reason for the change is that the company is opening five factories there in the next nine months and launching Lincoln in China.

Ford was optimistic about future growth, though. It said that one of the reasons for falling volume was changing dealer stock in preparation of new models. In 2015, those updates should start being reflected on he balance sheet with “all five Automotive regions improving on 2014 results,” according to the Blue Oval’s release. Ford’s results can be viewed in total as a PDF, here.

Ford Q3 pretax profits drop to $1.18B originally appeared on Autoblog on Fri, 24 Oct 2014 16:28:00 EST. Please see our terms for use of feeds.

Permalink

GM Expands Watershed Education Program

General Motors launched its watershed education program in seven new communities across Canada this year, the largest international expansion in the initiative’s 25-year history. The GM Global Rivers Environmental Education Network (GREEN) now comprises 53 GM facilities, including all of the company’s U.S. and Canadian manufacturing plants.

Read More:
GM Expands Watershed Education Program

Driven by Design

Image 14059

Working with Ford Motor Company on design projects brought this professor into the Ford family

The post Driven by Design appeared first on Ford Blogger.

Continue Reading:
Driven by Design

GM Paves Way for Global Active Safety Development

General Motors today revealed that the development of one of the largest active automotive safety testing areas in North America is nearly complete at its Milford Proving Ground campus.

Read More:
GM Paves Way for Global Active Safety Development

City Express Begins Making Its Way to Dealerships

Chevrolet’s all-new 2015 City Express cargo van, with a starting price of $22,950, began shipping to dealerships today.

Read More:
City Express Begins Making Its Way to Dealerships