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Looking to create some distance between its garden variety Prius, Toyota debuted an all-new plug-in model called the 2017 Prius Prime. The Prime will have over 600 miles of total range and an electric mpg equivalent rating of at least 120 miles, according to Toyota’s estimates. Regular mpg hasn’t been announced, though the automaker is expecting it to match or beat the normal Prius liftback’s 54 mpg city, 50 mpg highway rating. Total electric and gas range will be over 600 miles. Owners can charge the car in 5.5 hours with a standard plug. A dedicated 240v outlets cuts that time by more than half, according to Toyota. Pure electric range on the Prime is 22 miles. While that’s double the EV range of its predecessor, it lags behind Hyundai’s new Ioniq PHEV, as well the [...]
Comments Off on Virtual red carpets and a fancy Siri: The Rolls-Royce Vision Next 100 and what people think
BMW Group turned 100 in this year, and to celebrate, each of the company’s three brands has unveiled a “Vision Next 100” concept. Rolls-Royce’s concept, the Rolls-Royce Vision Next 100, also known as the 103EX, is perhaps the most exquisite of the three. Unveiled in London, the concept features a virtual assistant named Eleanor and a coach door that allows passengers to stand up and step out of the vehicle. Here’s what people are saying about the Rolls-Royce concept.
“You already knew the 103EX wasn’t going to show up in showrooms any time soon, so whatever hypothetical propulsion system it uses is irrelevant. But it is an astonishing design, something that’s tough to execute in an era when so many of us think we’ve seen everything.”
Comments Off on Tesla to join Nasdaq 100 as Oracle defects to NYSE
Tesla Motors Inc., the world’s best-performing automotive stock this year, will join the Nasdaq-100 Index next week, filling the spot vacated by Oracle Corp., which is moving to the New York Stock Exchange.
The electric-car maker will be added to the gauge, which tracks the biggest companies on the Nasdaq, before the start of trading on July 15, Nasdaq OMX Group Inc. said in a statement Monday. Oracle, which last month said it will join the NYSE, is the biggest company to jump between the competing exchanges.
Shares of Tesla, the carmaker headed by billionaire Elon Musk, have more than tripled this year as the popularity of its new Model S sedan helped the company turn its first quarterly profit. Gaining entry to benchmarks tracked by investors is attractive to public companies because it provides a guaranteed shareholder base.
Comments Off on Fiat exercises option to buy additional 3.3% of Chrysler shares
Fiat today exercised an option to raise its stake in Chrysler by 3.3 percent.
The move is part of CEO Sergio Marchionne’s step-by-step purchases intended to lead to full control of Chrysler and the creation of a merged company that would be able to compete better with industry leaders Toyota, General Motors and Volkswagen.
Fiat has been exercising options since mid-2012 to buy holdings of about 3.3 percent from the VEBA, a medical-benefits trust for the U.S. carmaker’s retirees.
Including today’s purchase, Fiat has exercised three of its six-monthly options, increasing its stake to 68.49 percent.
Fiat has said it wants full control of Chrysler, which would give it access to some of Chrysler’s cash flow for investments in new models.
Chrysler has become Fiat’s most reliable profit generator as the Italian company struggles to end losses in Europe [...]
Comments Off on Toyota Camry, Honda Civic inventories rise, report says
The Toyota Camry and the Honda Civic, the top-selling mid-size and compact cars in the U.S., face risks of reduced production as inventories of the models rise, an RBC Capital Markets report said.
Toyota’s Camry exceeded its seasonal historical average inventory by more than 15 days supply in June and Honda carried about 25 days more Civics than usual, Joseph Spak, a New York-based analyst for RBC, said in today’s report. Camry and Civic were the only models identified as at risk for reduced output among 16 of the top-selling vehicles in the U.S. market. General Motors Co., Ford Motor Co. and Chrysler Group LLC all added U.S. market share in the first six months of 2013, the first time that all three gained first-half share in 20 years. Models such as GM’s Chevrolet Cruze compact and Ford’s Fusion [...]