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Found 16 results

  1. Tesla is asking suppliers to refund some of the cash on past work as a way to make the automaker profitable. The Wall Street Journal obtained a memo that was sent to a Tesla supplier last week. The company requested that the supplier return " a meaningful amount of money of its payments since 2016." The memo goes onto say that the request is essential to Tesla's "continued operation" and would "continue the long-term growth between both players." Its unclear how many suppliers received this memo. Tesla's list of suppliers include Magna, Panasonic, and Robert Bosch GmbH. Tesla declined to comment on the memo, but did confirm that it is seeking price cuts from suppliers on various projects, some which date back to 2016. The company said such requests are a standard part of negotiations with suppliers. Supply-chain consultants say this is normal for automakers to request price reductions on current projects. Asking for money back on a completed one is very unusual. “It’s simply ludicrous and it just shows that Tesla is desperate right now. They’re worried about their profitability but they don’t care about their suppliers’ profitability,” said Dennis Virag, a manufacturing consultant. This report casts serious questions as to Tesla's money situation. The company has been burning through a billion dollars per quarter, and finished the first quarter with $2.7 billion cash on hand. Source: Wall Street Journal (Subscription Required)
  2. Tesla is asking suppliers to refund some of the cash on past work as a way to make the automaker profitable. The Wall Street Journal obtained a memo that was sent to a Tesla supplier last week. The company requested that the supplier return " a meaningful amount of money of its payments since 2016." The memo goes onto say that the request is essential to Tesla's "continued operation" and would "continue the long-term growth between both players." Its unclear how many suppliers received this memo. Tesla's list of suppliers include Magna, Panasonic, and Robert Bosch GmbH. Tesla declined to comment on the memo, but did confirm that it is seeking price cuts from suppliers on various projects, some which date back to 2016. The company said such requests are a standard part of negotiations with suppliers. Supply-chain consultants say this is normal for automakers to request price reductions on current projects. Asking for money back on a completed one is very unusual. “It’s simply ludicrous and it just shows that Tesla is desperate right now. They’re worried about their profitability but they don’t care about their suppliers’ profitability,” said Dennis Virag, a manufacturing consultant. This report casts serious questions as to Tesla's money situation. The company has been burning through a billion dollars per quarter, and finished the first quarter with $2.7 billion cash on hand. Source: Wall Street Journal (Subscription Required) View full article
  3. Last year, the final Dodge Viper rolled down the Conner Avenue assembly line. The vehicle would once again enter the history books as one of the maddest sports cars. But a new report says the Viper will be making a comeback, albeit with some major changes. Car and Driver has posted their '25 Cars Worth Waiting For: 2019–2022' piece and the Dodge Viper is on the list. The new model will retain its front-engine, rear-drive layout and spaceframe with independent suspensions front and rear. Extensive use of aluminum and carbon fiber will help keep weight down. One disappointment for Viper fans is the new model not having a V10. Instead, FCA is developing a new aluminum-block V8. A 550 horsepower naturally-aspirated version will serve as the base, with a more potent 700 horsepower supercharged variant to follow. A manual transmission of some sort is expected. Car and Driver predict that Dodge will show off the Viper at next year's Detroit Auto Show - which marks the 30th anniversary of the introduction of the original Viper. Production is expected to begin in late 2020 beginning with the convertible. The coupe is expected to follow a few years later. Car and Driver is quite confident, going as far to say "trust us: A new Viper is happening." We need some more evidence and possibly some spy photos before we hop aboard this train. Source: Car and Driver View full article
  4. Last year, the final Dodge Viper rolled down the Conner Avenue assembly line. The vehicle would once again enter the history books as one of the maddest sports cars. But a new report says the Viper will be making a comeback, albeit with some major changes. Car and Driver has posted their '25 Cars Worth Waiting For: 2019–2022' piece and the Dodge Viper is on the list. The new model will retain its front-engine, rear-drive layout and spaceframe with independent suspensions front and rear. Extensive use of aluminum and carbon fiber will help keep weight down. One disappointment for Viper fans is the new model not having a V10. Instead, FCA is developing a new aluminum-block V8. A 550 horsepower naturally-aspirated version will serve as the base, with a more potent 700 horsepower supercharged variant to follow. A manual transmission of some sort is expected. Car and Driver predict that Dodge will show off the Viper at next year's Detroit Auto Show - which marks the 30th anniversary of the introduction of the original Viper. Production is expected to begin in late 2020 beginning with the convertible. The coupe is expected to follow a few years later. Car and Driver is quite confident, going as far to say "trust us: A new Viper is happening." We need some more evidence and possibly some spy photos before we hop aboard this train. Source: Car and Driver
  5. Despite General Motors mostly leaving the European market with the sale of Opel and Vauxhall to PSA Group earlier this year, the automaker isn't ruling out a full-scale return. During a recent meeting of the Automotive Press Association in Detroit, GM CEO Mary Barra said the company would "absolutely" consider a return to the European market, adding that "nothing keeps us from going back." But it will be some time before GM decides to go back. According to Barra, the company would need to build out a lineup of "transformative products" like electric or self-driving vehicles to make it worthwhile. General Motors does have a small presence in Europe with Cadillacs being sold by 45 dealers - most of them in Germany and Switzerland. The Chevrolet Camaro and Corvette are also sold in small numbers. Source: Motor1 View full article
  6. Despite General Motors mostly leaving the European market with the sale of Opel and Vauxhall to PSA Group earlier this year, the automaker isn't ruling out a full-scale return. During a recent meeting of the Automotive Press Association in Detroit, GM CEO Mary Barra said the company would "absolutely" consider a return to the European market, adding that "nothing keeps us from going back." But it will be some time before GM decides to go back. According to Barra, the company would need to build out a lineup of "transformative products" like electric or self-driving vehicles to make it worthwhile. General Motors does have a small presence in Europe with Cadillacs being sold by 45 dealers - most of them in Germany and Switzerland. The Chevrolet Camaro and Corvette are also sold in small numbers. Source: Motor1
  7. While the big story at PSA Group (parent company of Citroen and Peugeot) is about the possible sale of Opel, they are also getting ready to begin to take their first steps into re-entering the U.S. marketplace. In April, car-sharing service TravelCar will launch at airports in Los Angeles and San Francisco. The service has been operating at various airports and train stations in Europe since 2012. The expansion into the U.S. is thanks to a 15 million euro (about $18.5 million) investment by PSA Group and MAIF, a French insurance company. TravelCar is different from other car-sharing services such as ZipCar and GM's Maven as it rents out other people's cars. The service allows owners free parking at airports if they allow their vehicles to be rented out. In turn, TravelCar says their rental rates are about half when compared to those from rental car companies. MAIF will be providing the insurance on the vehicles that are rented. “We announced our progressive entry to North America by launching mobility services with our partners. We deploy these services worldwide to meet customers’ expectations. With TravelCar today, we’re writing the beginning of this new step overseas,” said Grégoire Olivier, Head of Mobility Services, PSA Group. This investment is the first part of 10-year plan announced by PSA Group last year to possibly re-enter the U.S. Source: Automotive News (Subscription Required), PSA Group Press Release is on Page 2 PSA Group and MAIF join forces to bring TravelCar to the United States with carsharing services As part of the Push to pass strategic plan, an operation which fuels PSA’s ambition to become the preferred mobility provider for customers worldwide A concretization of the 10 years’ PSA project for the progressive entry into North America with mobility services launching As of April 1st 2017, TravelCar with the support of PSA Group and MAIF enters the United States with car rental offers for travelers, in Los Angeles and San Francisco airports. The offered solutions are designed to optimize cars ensuring they rarely go unused and become a resource for car owners. Three kind of services are offered to travelers; either owner or car user. Car owners who make their vehicle available for rent benefit from free parking. If the vehicle is rented out, the car owner is also paid. An advantageous-price parking solution is also available for car owners who prefer not to share their vehicle. Last, car users looking for a vehicle can have access to a private car at a reduced price – approx. 50% less expensive than with a traditional car rental offer. This kind of offer is today unique on the American market, which has more than 850 million travelers per year. Los Angeles and San Francisco airports are respectively the 2nd and the 7th biggest airports in the United-States. Moreover, the 2 cities located close to the Silicon Valley are favorable for these new offers deployment. For this launch, TravelCar just finalized a fundraising of €15 million thanks to PSA Group and MAIF. It is a significant deployment for the French company TravelCar, which was founded in 2012, and has a network of over 200 agencies and 300,000 users in ten European countries, before entering the American continent. “We announced our progressive entry to North America by launching mobility services with our partners” declares Grégoire Olivier, Head of Mobility Services, PSA Group. “We deploy these services worldwide to meet customers’ expectations. With TravelCar today, we’re writing the beginning of this new step overseas.” “With PSA Group and MAIF support, TravelCar entering the American market is taking a new step forward in its international growth”, declares Ahmed Mhiri, Founder & CEO TravelCar. “Our offer takes care of travelers from their departure, offering them a parking solution, and their arrival with an accessible and eco-responsible mobility solution.” “We are pleased to support our partners in their growth and development, especially at the international scale when the time has come ... and that’s now for TravelCar!" declares Eric Berthoux, Deputy CEO of MAIF Group.
  8. While the big story at PSA Group (parent company of Citroen and Peugeot) is about the possible sale of Opel, they are also getting ready to begin to take their first steps into re-entering the U.S. marketplace. In April, car-sharing service TravelCar will launch at airports in Los Angeles and San Francisco. The service has been operating at various airports and train stations in Europe since 2012. The expansion into the U.S. is thanks to a 15 million euro (about $18.5 million) investment by PSA Group and MAIF, a French insurance company. TravelCar is different from other car-sharing services such as ZipCar and GM's Maven as it rents out other people's cars. The service allows owners free parking at airports if they allow their vehicles to be rented out. In turn, TravelCar says their rental rates are about half when compared to those from rental car companies. MAIF will be providing the insurance on the vehicles that are rented. “We announced our progressive entry to North America by launching mobility services with our partners. We deploy these services worldwide to meet customers’ expectations. With TravelCar today, we’re writing the beginning of this new step overseas,” said Grégoire Olivier, Head of Mobility Services, PSA Group. This investment is the first part of 10-year plan announced by PSA Group last year to possibly re-enter the U.S. Source: Automotive News (Subscription Required), PSA Group Press Release is on Page 2 PSA Group and MAIF join forces to bring TravelCar to the United States with carsharing services As part of the Push to pass strategic plan, an operation which fuels PSA’s ambition to become the preferred mobility provider for customers worldwide A concretization of the 10 years’ PSA project for the progressive entry into North America with mobility services launching As of April 1st 2017, TravelCar with the support of PSA Group and MAIF enters the United States with car rental offers for travelers, in Los Angeles and San Francisco airports. The offered solutions are designed to optimize cars ensuring they rarely go unused and become a resource for car owners. Three kind of services are offered to travelers; either owner or car user. Car owners who make their vehicle available for rent benefit from free parking. If the vehicle is rented out, the car owner is also paid. An advantageous-price parking solution is also available for car owners who prefer not to share their vehicle. Last, car users looking for a vehicle can have access to a private car at a reduced price – approx. 50% less expensive than with a traditional car rental offer. This kind of offer is today unique on the American market, which has more than 850 million travelers per year. Los Angeles and San Francisco airports are respectively the 2nd and the 7th biggest airports in the United-States. Moreover, the 2 cities located close to the Silicon Valley are favorable for these new offers deployment. For this launch, TravelCar just finalized a fundraising of €15 million thanks to PSA Group and MAIF. It is a significant deployment for the French company TravelCar, which was founded in 2012, and has a network of over 200 agencies and 300,000 users in ten European countries, before entering the American continent. “We announced our progressive entry to North America by launching mobility services with our partners” declares Grégoire Olivier, Head of Mobility Services, PSA Group. “We deploy these services worldwide to meet customers’ expectations. With TravelCar today, we’re writing the beginning of this new step overseas.” “With PSA Group and MAIF support, TravelCar entering the American market is taking a new step forward in its international growth”, declares Ahmed Mhiri, Founder & CEO TravelCar. “Our offer takes care of travelers from their departure, offering them a parking solution, and their arrival with an accessible and eco-responsible mobility solution.” “We are pleased to support our partners in their growth and development, especially at the international scale when the time has come ... and that’s now for TravelCar!" declares Eric Berthoux, Deputy CEO of MAIF Group. View full article
  9. It was only a few years ago that French automaker PSA Peugeot Citroën was on life support due to massive losses and poor sales. But thanks to an infusion of cash from Chinese automaker Dongfeng and the French government, the company was able to right the ship. The past couple of years has seen PSA Peugeot Citroën emerge as a healthy and profitable automaker. Now the company is looking at expanding into new markets, including the U.S. According to Automobilwoche, officials at PSA say the U.S. and Iran are under consideration as the first markets for expansion. "Our Back in the Race restructuring program has been successfully completed. Now comes the next step. And this has put the issue of the U.S. on the table," said DS brand chief Yves Bonnefont. As we reported back in 2014 and last year, PSA Peugeot Citroën has been considering sending the DS brand into U.S. to test the waters. It is a "natural candidate" for PSA in North America, Bonnefont said. Citroen spun off DS into its own brand last year and its aimed to take on the likes of Audi and Mercedes. The plan is to have six models by the end of this decade ranging from the DS3 (Mini Cooper competitor) to a possible flagship sedan. But Richard Lucki says there are a number of problems the company would need to solve before entering the U.S. Lucki should know as he managed PSA Peugeot Citroën's affairs in the U.S. until 2013 when the company closed their office in Detroit. He explained PSA's return would be difficult as the company doesn't have a dealer network or a manufacturing base. "Pricing is an issue. Everyone else -- Audi, BMW, Mercedes -- has manufacturing here," Lucki said. We'll find what PSA's plans are on April 5th. Source: Automobilwoche via Automotive News (Subscription Required) View full article
  10. It was only a few years ago that French automaker PSA Peugeot Citroën was on life support due to massive losses and poor sales. But thanks to an infusion of cash from Chinese automaker Dongfeng and the French government, the company was able to right the ship. The past couple of years has seen PSA Peugeot Citroën emerge as a healthy and profitable automaker. Now the company is looking at expanding into new markets, including the U.S. According to Automobilwoche, officials at PSA say the U.S. and Iran are under consideration as the first markets for expansion. "Our Back in the Race restructuring program has been successfully completed. Now comes the next step. And this has put the issue of the U.S. on the table," said DS brand chief Yves Bonnefont. As we reported back in 2014 and last year, PSA Peugeot Citroën has been considering sending the DS brand into U.S. to test the waters. It is a "natural candidate" for PSA in North America, Bonnefont said. Citroen spun off DS into its own brand last year and its aimed to take on the likes of Audi and Mercedes. The plan is to have six models by the end of this decade ranging from the DS3 (Mini Cooper competitor) to a possible flagship sedan. But Richard Lucki says there are a number of problems the company would need to solve before entering the U.S. Lucki should know as he managed PSA Peugeot Citroën's affairs in the U.S. until 2013 when the company closed their office in Detroit. He explained PSA's return would be difficult as the company doesn't have a dealer network or a manufacturing base. "Pricing is an issue. Everyone else -- Audi, BMW, Mercedes -- has manufacturing here," Lucki said. We'll find what PSA's plans are on April 5th. Source: Automobilwoche via Automotive News (Subscription Required)
  11. Along with the Ford Ranger, the blue oval is considering resurrecting another nameplate. Bloomberg has learned from sources that the company is considering bringing back the Bronco nameplate for a vehicle to be built at the Michigan Assembly Plant in Wayne, MI. “It’s a good move. Gen Y has discovered the original Bronco. Ford has seen what the Mustang can do for them, and they are bringing back their iconic names,” said John Wolkonowicz, a Boston-based independent analyst. The Bronco would give Ford a vehicle to compete with the likes of Toyota and General Motors. It would also allow Ford to capitalize on the growing popularity of the Bronco by Gen Y, especially those in Southern California. The source said the Bronco will be a midsize model (like the Explorer) and use a truck frame for added toughness. Source: Bloomberg
  12. Along with the Ford Ranger, the blue oval is considering resurrecting another nameplate. Bloomberg has learned from sources that the company is considering bringing back the Bronco nameplate for a vehicle to be built at the Michigan Assembly Plant in Wayne, MI. “It’s a good move. Gen Y has discovered the original Bronco. Ford has seen what the Mustang can do for them, and they are bringing back their iconic names,” said John Wolkonowicz, a Boston-based independent analyst. The Bronco would give Ford a vehicle to compete with the likes of Toyota and General Motors. It would also allow Ford to capitalize on the growing popularity of the Bronco by Gen Y, especially those in Southern California. The source said the Bronco will be a midsize model (like the Explorer) and use a truck frame for added toughness. Source: Bloomberg View full article
  13. The Mercedes-Benz R-Class was an odd duck of sorts: Lets take a seven-seat SUV and a minivan, and blend them together. This odd duck was pulled out of most markets aside from China in 2013 due to poor sales. In China, its a different story where it sells 12,000 to 14,000 R-Classes. But one official at Mercedes-Benz believes the R-Class should make a comeback. Wolf-Dieter Kurz, Mercedes-Benz’s vice-president of product group SUVs and sports cars tells CarAdvice that they were too early with the R-Class. Kurz goes onto say that crossovers could be a major driver of product variants in the future due to their popularity and that there is room for practicality-focused models. “Basically I think I feel that the SUV segment – due to its growth, and the worldwide interest that the SUVs have – the SUV segment will be also in future the one which sees most derivatives, let’s say, in the outskirts of the portfolio. Because it’s getting kind of fussy in it’s outskirts, let’s say. There was already one that we had in the portfolio – maybe we were too early – which was the R-Class, which we are still selling in China. It’s doing good, with 12,000 to 14,000 units per year. So let’s say these more, let’s say, on-road based but still very roomy, but not station wagon, is definitely an interesting segment also in the future,” said Kurz. That last line sounds similar to the R-Class or something in the vain of the Subaru Outback. Source: CarAdvice.com.au
  14. The Mercedes-Benz R-Class was an odd duck of sorts: Lets take a seven-seat SUV and a minivan, and blend them together. This odd duck was pulled out of most markets aside from China in 2013 due to poor sales. In China, its a different story where it sells 12,000 to 14,000 R-Classes. But one official at Mercedes-Benz believes the R-Class should make a comeback. Wolf-Dieter Kurz, Mercedes-Benz’s vice-president of product group SUVs and sports cars tells CarAdvice that they were too early with the R-Class. Kurz goes onto say that crossovers could be a major driver of product variants in the future due to their popularity and that there is room for practicality-focused models. “Basically I think I feel that the SUV segment – due to its growth, and the worldwide interest that the SUVs have – the SUV segment will be also in future the one which sees most derivatives, let’s say, in the outskirts of the portfolio. Because it’s getting kind of fussy in it’s outskirts, let’s say. There was already one that we had in the portfolio – maybe we were too early – which was the R-Class, which we are still selling in China. It’s doing good, with 12,000 to 14,000 units per year. So let’s say these more, let’s say, on-road based but still very roomy, but not station wagon, is definitely an interesting segment also in the future,” said Kurz. That last line sounds similar to the R-Class or something in the vain of the Subaru Outback. Source: CarAdvice.com.au View full article
  15. By William Maley Staff Writer - CheersandGears.com March 11, 2013 Volvo is reconsidering a earlier decision on not selling the V60 Wagon in the U.S. to help bolster Volvo's somewhat small lineup. When Volvo launched the V60 in Europe two years ago, the decision was made not sell it in the U.S. due to a lack of demand for wagon models. But since that time, Volvo's lineup has decreased from ten to six models. That will soon be down to five when the C70 bids adieu later this year. This leaves Volvo dealers in the U.S. in a tough spot since there isn't any new products coming around the bend until 2015, the year of the new XC90. Doug Speck, Volvo's global head of marketing, sales and customer service says a decision on whether the V60 will be sold in the U.S. will be made by the end of the second quarter. Source: Automotive News (Subscription Required) William Maley is a staff writer for Cheers & Gears. He can be reached at william.maley@cheersandgears.com or you can follow him on twitter at @realmudmonster.
  16. By William Maley Staff Writer - CheersandGears.com March 11, 2013 Volvo is reconsidering a earlier decision on not selling the V60 Wagon in the U.S. to help bolster Volvo's somewhat small lineup. When Volvo launched the V60 in Europe two years ago, the decision was made not sell it in the U.S. due to a lack of demand for wagon models. But since that time, Volvo's lineup has decreased from ten to six models. That will soon be down to five when the C70 bids adieu later this year. This leaves Volvo dealers in the U.S. in a tough spot since there isn't any new products coming around the bend until 2015, the year of the new XC90. Doug Speck, Volvo's global head of marketing, sales and customer service says a decision on whether the V60 will be sold in the U.S. will be made by the end of the second quarter. Source: Automotive News (Subscription Required) William Maley is a staff writer for Cheers & Gears. He can be reached at william.maley@cheersandgears.com or you can follow him on twitter at @realmudmonster. View full article

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