Tag: share

Report: Google invests $250M in Uber ride-share service

Filed under: Technology

DENVER, CO. - FEBRUARY 10: Kevin Labonte, owner of Special Times Limousine, supplements his own fares with those he contracts out from Uber. State legislators may enact proposed changes supported by the taxi community that say Uber is an unregulated service. Though not regulated, Uber merely connects private drivers, who comply with all PUC regulations, to customers. (Photo By AAron Ontiveroz/The Denver Post via Getty Images)

The number of people who haven’t yet heard of the transportation/technology startup Uber is shrinking by the minute. Uber produces a mobile application that is used to connect passengers with drivers of vehicles for hire, typically luxury vehicles – kind of a high-tech, high-zoot taxi calling service.

Use of the app may be spreading gospel of Uber within urban centers, but the company is also generating tremendous buzz for sourcing massive investment, including a reported $250 million sourced from Google Ventures. Google’s quarter-billion makes up the better part of a $360-million investment round, with a resultant company valuation set at a staggering $3.5 billion.

So, what does Google, famous researcher into autonomous car technology, want with Uber’s popular ride-sharing software? Our wandering minds immediately leap to fantasies about driverless limousines and taxis as a logical next step. And, while that type of service might be possible down the road, a recent article from Forbes indicates that the road in question is a long one.

The reality may be a bit less theatrical than robot cabs, but is interesting nevertheless. Forbes believes that Google likes the concept of repurposing Uber tech to work with its own blooming Google Shopping Express play in the near term, along with all kinds of on-demand delivery in the not-distant future. The core idea of Shopping Express is to create a near-seamless way to go from a one-click purchase on your laptop to the knock of a delivery driver at your front door. Imagine combining the depth of Amazon’s shopping experience with the instant gratification of ordering Chinese food, and you get the idea. Google would seem to believe that Uber’s app, technology, and engineer brains are a fast step forward in that direction.

Google invests $250M in Uber ride-share service originally appeared on Autoblog on Fri, 23 Aug 2013 17:30:00 EST. Please see our terms for use of feeds.

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Share of trucks being sold in U.S. at 31-year low

Filed under: Car Buying, Truck, Chevrolet, Ford, GM

New Chevrolet pickups being delivered to dealer

Auto sales were up sharply in April, but trucks continue to make up less of the overall pie. Ward’s Automotive reports that light-duty pickups accounted for only 11.8 percent of overall vehicle deliveries; the lowest total since Ward’s began collecting data back in 1980. Back in 2005, when the auto industry and the economy at large was far healthier, light trucks accounted for 22.9 percent of all vehicles sold.

There are a lot of reasons truck sales are flagging as of late, not the least of which is gasoline prices that are currently at about $4 per gallon nationwide. But truck sales are also being hurt by unemployment rates and continued weakness in the housing sector.

Trucks are no longer such a large portion of over all car sales, but the utilitarian vehicles are still selling far better than they were in 2010. Truck sales are up 17.9 percent year-over-year, but that number has been outpaced by overall growth of 19.4 percent.

While trucks aren’t quite as popular as they were a few years ago, we suspect that this trend may lose steam as the economy improves. After all, light trucks continue to outsell cars even with high gas prices and a poor housing market, though the advantage is down to 5,000 units so far in 2011.

Share of trucks being sold in U.S. at 31-year low originally appeared on Autoblog on Mon, 09 May 2011 19:01:00 EST. Please see our terms for use of feeds.

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Report: BMW and Mini to share plug-in hybrids

Filed under: Hybrid, Europe, Technology, Crossover, Hatchback, Mini, Rumormill

Mini badge

From the whispers we’re hearing, BMW plans on mixing its DNA with Mini even further. The Bavarian-obsessed minds at BimmerFile are reporting that the German automaker is currently hard at work on a partnership with Getrag to produce a new hybrid powertrain to be shared between both BMW and Mini. Details are skimpy at the moment, but BimmerFile has ventured a few guesses as to what we can expect from the platform when it debuts. Word is that the system will likely boast a plug-in capacity that it will probably show up on larger Mini models like the Countryman and its rumored BMW counterpart.

There’s also some indication that the hybridized drivetrain will keep the current 120 horsepower four-cylinder at the heart of the system. The move is only part of the BMW master plan to keep Mini as efficient as possible. BimmerFile also hints that Mini may see a small turbocharged three-cylinder engine debut in a few short years with more horsepower, less weight and greater efficiency than the current four-cylinder line up. Join those thoughts with the rumored arrival of a diesel Cooper on American soil, and it begins to look like Mini will be in a good position as fuel prices continue to edge upwards.

[Source: BimmerFile]

Report: BMW and Mini to share plug-in hybrids originally appeared on Autoblog on Tue, 25 Jan 2011 16:01:00 EST. Please see our terms for use of feeds.

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Report: Audi A9 will share chassis with Lamborghini Estoque

Filed under: Sedan, Performance, Europe, Audi, Rumormill, Luxury

2011 Audi A7

It seems like the pieces are beginning to come together for much-rumored Audi A9. Autocar is reporting that a company insider has said that the project is moving along nicely, with both engineering and accounting hard at work on ways to make the super sedan a reality. That’s all fine and good, but we’re more interested in another little piece of news that’s cropped up. It would seem that in order to make the vehicle more cost effective, Audi engineers are currently looking at ways to allow the four-door’s architecture to be used for a production version of the Lamborghini Estoque.

How’s about them apples.

There’s even some indication that the car’s bones could be at least loosely based on the same modular longitudinal architecture as the A8. If this proves to be true, the suits at Audi should have an easier time rubber-stamping the A9 into production. From there, we would guess that it wouldn’t be too long before a production version of the Estoque supersaloon bowed as well.

[Source: Autocar]

Report: Audi A9 will share chassis with Lamborghini Estoque originally appeared on Autoblog on Fri, 07 Jan 2011 14:29:00 EST. Please see our terms for use of feeds.

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Report: Toyota sees increased U.S. market share in 2011

Filed under: Toyota

Toyota badge

2010 was as rough a year as Toyota has experienced in many-a-decade, but the Japanese automaker reportedly senses a rebound in 2011. The Detroit News reports that team Toyota predicts that in 2011 it will outpace industry growth due in part to 10 revamped models across its Toyota, Lexus and Scion brands.

And Toyota isn’t just optimistic about its prospects in the year ahead; the automaker feels sales will jump to 12.5 million units on an annualized basis, up a million units from 2010. Many industry analysts polled by The Detroit News seem to agree with that sentiment as well, with figures ranging from 12.5 to over 13 million cars and trucks sold in 2011. Further into the future, Toyota reportedly sees sales hitting 15 million units by 2015.

After the year Toyota had, we are a little surprised that the Japanese automaker is this bullish on 2011. But then again, Toyota struggled as much with an aging lineup as it did with millions of recalls. Ten new models can go a long way toward repopulating dealers with new customers, especially if U.S. car buyers can forget about 2010 as fast as Toyota hopes they do.

[Source: The Detroit News]

Report: Toyota sees increased U.S. market share in 2011 originally appeared on Autoblog on Thu, 06 Jan 2011 17:31:00 EST. Please see our terms for use of feeds.

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Detroit 3 in discussions with UAW on how to share benefits of “amazing turnaround”?

Filed under: Chrysler, Ford, GM, Earnings/Financials, UAW/Unions

Bob King, UAW president

It’s no secret that some members of the United Auto Workers aren’t thrilled about the concessions that the union made during bankruptcy negotiations with both General Motors and Chrysler. Now that both of those automakers are back on their feet, the UAW wants a slice of their new-found prosperity. According to Bloomberg, UAW President Bob King believes that his members’ sacrifices helped keep GM and Chrysler afloat, and now they deserve to share in the fruits of those concessions. King said that UAW members each gave up between $7,000 and $30,000 each as part of negotiations since 2005, and the union gave up wage increases for cost of living, surrendered raises and ditched bonuses to keep the Big Three afloat during the darker days of 2009.

The UAW is expected to negotiate new contracts with Ford, GM and Chrysler early this year before they expire in September, and all three automakers are being tight-lipped about how additional compensation could factor into those negotiations. King has also been jockeying for positions on the executive boards of the domestic automakers in an attempt to better represent the union’s needs.

[Source: Bloomberg | Image: Bill Pugliano/Getty Images]

Detroit 3 in discussions with UAW on how to share benefits of “amazing turnaround”? originally appeared on Autoblog on Wed, 05 Jan 2011 15:30:00 EST. Please see our terms for use of feeds.

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Report: Tesla Motors share price drops as IPO lock-up period ends

Filed under: Earnings/Financials, Tesla, Electric

Tesla Motors logoTesla Motors (TSLA) shares were hammered hard near the end of last week and are still dropping as word of the expiration of a 180-day post-IPO lock-up agreement continues to make the rounds. Starting today, 75 million Tesla shares, which had previously been subject to a lock-up agreement restricting their sale, will be eligible for registration.

The automaker’s recent 10-Q filing with the Securities and Exchange Commission noted that a fall in share price could possibly coincide with the expiration of the 180-day post-IPO lock-up agreement. The filing’s actual wording reads:

The market price of our common stock could decline as a result of sales of a large number of shares of our common stock in the market in the future, and the perception that these sales could occur may also depress the market price of our common stock.

Tesla shares are currently listed at $25.44, a drop from the $29.36 that they were trading at in early November and a decline from the $32-plus price recorded near the middle of last week.


[Source: Forbes]

Report: Tesla Motors share price drops as IPO lock-up period ends originally appeared on Autoblog on Mon, 27 Dec 2010 17:29:00 EST. Please see our terms for use of feeds.

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Followup: GM officials take issue with Whitacre’s IPO share price estimates

Filed under: Government/Legal, GM

Ed Whitacre, GM CEO

It was only last week when Reuters reported that Ed Whitacre, Jr. told the media that General Motors IPO shares would “likely to be priced between $20 and $25 in the initial public offering by the automaker in November.” GM didn’t respond immediately, but now, like a judge giving instructions to the jury to disregard a courtroom outburst, The General is essentially saying “ignore everything you just heard.”

According to The Detroit News, a GM response filed with the Securities and Exchange Commission refutes everything, saying that the price hasn’t been set, the IPO might not happen in November, and the company doesn’t know if it “will be successful or whether it will work.” GM is in a self-imposed “quiet period” before its IPO “to comply with SEC regulations,” which Whitacre’s comments blew out of the water. According outside observers, “Any comments beyond what is included in GM’s regulatory filings could be construed as breaking SEC rules during the quiet period and could jeopardize the timing of the IPO.” Whoopsie.

[Source: The Detroit News]

Followup: GM officials take issue with Whitacre’s IPO share price estimates originally appeared on Autoblog on Mon, 18 Oct 2010 16:01:00 EST. Please see our terms for use of feeds.

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Followup: GM officials take issue with Whitacre’s IPO share price estimates

Filed under: Government/Legal, GM

Ed Whitacre, GM CEO

It was only last week when Reuters reported that Ed Whitacre, Jr. told the media that General Motors IPO shares would “likely to be priced between $20 and $25 in the initial public offering by the automaker in November.” GM didn’t respond immediately, but now, like a judge giving instructions to the jury to disregard a courtroom outburst, The General is essentially saying “ignore everything you just heard.”

According to The Detroit News, a GM response filed with the Securities and Exchange Commission refutes everything, saying that the price hasn’t been set, the IPO might not happen in November, and the company doesn’t know if it “will be successful or whether it will work.” GM is in a self-imposed “quiet period” before its IPO “to comply with SEC regulations,” which Whitacre’s comments blew out of the water. According outside observers, “Any comments beyond what is included in GM’s regulatory filings could be construed as breaking SEC rules during the quiet period and could jeopardize the timing of the IPO.” Whoopsie.

[Source: The Detroit News]

Followup: GM officials take issue with Whitacre’s IPO share price estimates originally appeared on Autoblog on Mon, 18 Oct 2010 16:01:00 EST. Please see our terms for use of feeds.

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