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Found 8 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. 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
  3. 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
  4. 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.
  5. 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
  6. 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
  7. 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
  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

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