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Tesla Motors announced it faces a shortage of U.S. tax credits for the Model 3, its first mass-market electric vehicle. It was said that, in the first week of orders, 325,000 people had placed refundable $1,000 deposits on the Model 3, a sedan starting at $35,000 with a range of 215 miles and up.As the company has struggled in the past to deliver products on time, some say that the announced crisis is an apparent one, seeing in this announcement a clever production strategy to squeeze more money out of the program for its buyers. Because of a limit on the number of Tesla cu...
Nissan has confirmed that it will not build small, rear-wheel-drive sports cars soon.The model which may have tackled the likes of Toyota’s 86 and the Mazda MX-5 in the sales-race would have sat below the current 370Z and GT-R models in the carmaker’s range.But now, according to reports out of Europe, the small sports car plans have been returned to the shelf where they may sit for quite some time. According to Nissan Senior Vice President Shiro Nakamura, the company has a modular platform currently under development that could underpin a model range featuring both electric and fos...
The world’s largest automaker Toyota would buy out the rest of minivehicle unit Daihatsu - an all-stock deal worth about $3 billion and part of its strategy to strengthen its push into compact cars for emerging markets.Toyota acquired a controlling interest of 51 percent in Daihatsu in 1988. But now it is raising its stake to 100 percent by a reciprocal share-swap agreement that will see Daihatsu's other shareholders take 0.27 shares in the larger company for each share in the smaller.This move will help to improve Daihatsu small cars by having a unified strategy in the sengment, alt...
The state of New Mexico on Wednesday sued Volkswagen and subsidiaries Porsche and Audi for using software in their diesel vehicles to cheat U.S. emissions tests, calling the companies "shameless" and vowing to exact costly revenge. Attorney General Hector Balderas filed the lawsuit in state district court late last Tuesday. "It’s not lawful to profiteer and breach the trust of New Mexico consumers, and Volkswagen, Audi and Porsche will be held accountable for their deceptions," Balderas said. "Volkswagen preyed upon hardworking New Mexicans who want to prote...
Volkswagen has named a new executive Hinrich J. Woebcken to supervise the North American region, assuming responsibility for all the activities of the VW brand. Mr. Woebcken will take up his duties in April. Mr. Woebcken previously served on the board of Munich-based auto supplier Knorr Bremse AG, and formerly worked at BMW AG for about 10 years, Volkswagen said.This change will allow the company to move forward with strategic reinforcement in the region with bundling development, procurement, production and sales activities in the USA, Mexico and Canada.Volkswagen brand has also reconfigured ...
