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MILAN — Fiat Chrysler expects the costs of launching full-electric and plug-in hybrid cars to negatively affect its money-losing European business even more in the fourth quarter than in the third quarter. That is because the industrial costs associated with the automaker’s electrification program will increase, FCA Chief Financial Officer Richard Palmer told analysts during
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TurboZentrum’s heavily-modded Toyota Supra A80 crashed earlier this month during the TTT half-mile drag racing event held at the Lausitzring racetrack in Germany. According the company, Yalcin Belen, who was driving the 1,500-horsepower dragster, had to swerve to avoid an obstacle while doing around 220 km/h (137 mph) in fourth gear. Watch Also: Which Sounds
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DETROIT — See if this sounds familiar: A start-up EV company is basically gifted a modern plant chock-full of world-class production equipment. To reduce product-development costs and time, its first vehicle uses thousands of proven off-the-shelf parts from major suppliers and established automakers. Lordstown Motors is closely following Tesla’s early playbook as it gears up
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Continental CEO Elmar Degenhart is stepping down amid a push by the supplier to overhaul management and speed up structural changes. Degenhart, 61, is resigning his post “for reasons of immediately necessary preventive health care,” Continental said in a statement on Thursday. The company did not name Degenhart’s successor. It said its supervisory board will
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An early tester for Ferrari’s Purosangue SUV has been spotted within the confines of the Italian firm’s Maranello headquarters. It may look like a Maserati Levante that’s been slammed, but there are a number of clues that reveal it as a test mule. For instance, the rear doors are dramatically shorter than on the Levante.
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Profitability among Toyota and Lexus dealers year-to-date is up almost a third to near-record results, and is tracking even higher as the automaker works to climb back to pre-COVID production levels. “We’re in a completely different place” from six months ago, said Bob Carter, Toyota Motor North America’s head of sales, during a teleconference last
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Fisker Inc. said Thursday it completed a deal to go public by merging with a special-purpose acquisition company, with the proceeds funding operations and development of its first electric vehicle through the start of production in late 2022. Shares of the combined company are expected to trade on the New York Stock Exchange starting Friday
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MILAN — Italy’s biggest auto show has been postponed for a second time because of the coronavirus pandemic. The Milano Monza Open-Air Motor Show is now scheduled to take place next spring, with the exact dates yet to be announced. Italian businessman and classic car enthusiast Andrea Levy, the show’s director, said the country’s auto
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Even a pandemic can’t stop the Wienermobile. Oscar Mayer briefly sidelined its 300-hp frankfurters in the spring, but the company “decided that being a source of frivolity during trying times is part of its DNA,” The New York Times reported last week. So all six Wienermobiles, most of which ride on a Chevrolet chassis with
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Swiss designer Philipp Plein has lost a legal battle against Ferrari and been ordered to pay €300,000 ($352,000) in compensation to the Italian car manufacturer. The case relates to a spring 2018 runway show that Plein held in Milan in June 2017. During this event, Plein featured a host of exotics, including Ferraris, Lamborghinis and
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DETROIT — General Motors has only one electric vehicle on sale in the U.S. today, but within a few years it’s expected to have a North American EV manufacturing footprint comprising four plants, including one in Mexico. GM last week said it would spend $2 billion to renovate its assembly plant in Spring Hill, Tenn.,
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J.D. Power’s 2020 Q3 Mobility Confidence Index found that North American vehicle owners have not changed their opinions on battery-electric vehicles or self-driving technologies. The study, fueled by SurveyMonkey and released Tuesday, said “consumers remain skeptical because of their lack of firsthand experience with these technologies and lack of education about how and why these
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