Volkswagen

Tennessee’s largest companies secure sales tax exemptions for everything from jet fuel to water • Tennessee Lookout

by
Tennessee's largest companies secure sales tax exemptions for everything from jet fuel to water • Tennessee Lookout

Tyson chicken barns in West Tennessee on April 21, 2021. (Photo: John Partipilo) They’re scattered across the rural Tennessee landscape: blue-sided barns stretching the length of five U.S. football fields, clustered together in groups numbering as few as three to as many as 20. Each of Tennessee’s nearly 2,200 industrial chicken barns produce about 200,000 … Read more

BYD unveils new hybrid tech as battle with gasoline rivals heats up

by
BYD unveils new hybrid tech as battle with gasoline rivals heats up

BYD launched the fifth generation of its plug-in hybrid technology that achieves a record low fuel consumption of 2.9 litres per 100 km on depleted batteries.

New vehicle sales decline 17pc on high taxes, interest rates

by
New vehicle sales decline 17pc on high taxes, interest rates

Sales of new vehicles in Kenya fell 17.66 percent in the first quarter of 2024, the sharpest drop in seven years. This decline was attributed to increased taxation, rising interest rates, and a weakened shilling. Dealers such as Isuzu, CFAO, and Simba Corporation have been struggling in a tough operating environment, with climbing interest rates and pending bills affecting demand. The Kenya Revenue Authority also increased duty on shipping cars into the country, further impacting sales. Isuzu East Africa and CFAO Motors Kenya, which control a significant portion of new vehicle sales, experienced declines in sales, while Simba Corp saw a modest increase. The falling demand for vehicles has also affected government revenues.

Weak demand, new model ramp up hit Europe, ’s top automakers

by
Weak demand, new model ramp up hit Europe, ’s top automakers

European car giants Volkswagen, Mercedes-Benz, and Stellantis all posted lower sales and first-quarter revenue due to higher costs, weaker demand for new cars, and the upcoming launch of new models.

Tesla, ’s plan for affordable cars takes page from Detroit rivals

by
Tesla, ’s plan for affordable cars takes page from Detroit rivals

Elon Musk’s new plan for Tesla involves using current product lines to create more affordable vehicles, similar to the strategy of traditional automakers like Ford and General Motors. This shift in strategy led to the shelving of plans for a new ,000 model and a focus on producing “more affordable” models using existing platforms. Some analysts expect Tesla to offer stripped-down versions of the Model 3 and Y at lower costs. The change in strategy has sparked a stock rise and drawn praise from investors, but also raised concerns about execution risk and the impact on Tesla’s valuation as it shifts towards being seen more as an automaker than a tech company.

UAW wins big in historic union vote at Volkswagen Tennessee factory

by
UAW wins big in historic union vote at Volkswagen Tennessee factory

Workers at Volkswagen’s Tennessee plant have voted to join the United Auto Workers, with a 73% majority in favor of the union. This victory marks the first auto plant in the South to unionize via election since the 1940s. The UAW President’s campaign to unionize plants owned by various automakers across the U.S. is gaining momentum. The next facility to hold a UAW election will be a Mercedes plant in Alabama. The UAW has seen a surge in public support for unions and successful contract negotiations with major automakers. President Biden praised the union victories and the impact on raising wages.