Volkswagen''s strong brand portfolio and 8.9% dividend yield make it an attractive investment despite market challenges and margin compression. Read more here.

Volkswagen is encouraging baby boomer employees to leave and reportedly offering six-figure payouts to other staff deemed surplus to requirements.

DETROIT (AP) — Jaguar is telling owners of about 3,000 electric SUVs to park them outdoors and away from structures due to the risk of battery fires. The British automaker is recalling I-Pace SUVs from the 2019 model year, but has not yet developed a final remedy. As an interim fix, dealers will update the battery energy control computer to limit battery charging to 80% of capacity. The company has issued three previous recalls for the same problem, and all of the SUVs will need the new remedy. The previous recalls updated diagnostic software. The automaker says in documents posted Thursday by U.S. safety regulators that there have been three fires in the U.S. after previous software updates on the vehicles. No injuries were reported. “Owners who have previously had their vehicle updated with the improved diagnostic software are under the impression that their vehicle is protected from thermal overload which, for 2019 MY (model year) vehicles, may not be the case,” the documents say. Documents say that the I-Pace batteries were made in Poland by LG Energy Solution, whose products are under investigation by the U.S.

13,150 cars delivered in Q2 2024, up 82% compared to Q1 2024 30% improvement in inventory turnover driving working capital reduction with positive impact on cash flow Secured up to USD 300 million in additional external funding in August Polestar (NASDAQ: PSNY ), reports its preliminary unaudited financial and operational results for the second quarter ended June 30, 2024. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240829866418/en/ (Photo: Business Wire) Deliveries were 13,150 cars, an 82% increase compared to the first quarter, taking global deliveries for the first six months of the year to 20,371, with strong momentum especially in the USA, Sweden, Norway and Germany. At the same time, active management actions improved inventory turnover and reduced the number of cars in stock by approximately 30% when compared to Q4 2023. Cash and cash equivalents were USD 669 million as of June 30, 2024. Recent developments: Appointed Michael Lohscheller as Polestar CEO, effective October 1, 2024.

Discover the year-to-date market share leaders in Europe by registrations, including Volkswagen Group, Stellantis, Renault Group, and more.

BEIJING , Aug. 29, 2024 /PRNewswire/ -- Cheche Group Inc. (NASDAQ: CCG) ("Cheche", the "Company" or "we"), China''s leading auto insurance technology platform, today announced its unaudited financial results for the second quarter ended June 30, 2024 . Financial and Operational Highlights Net revenue s for the quarter increased 2.5% year-over-year to RMB851.8 million ( US$117.2 million ), while net revenues for the first half of 2024 increased 1.8% over the comparable prior year period to RMB1.6 billion ( US$225.5million ). Net loss for the quarter decreased 16.4% year-over-year to RMB23 .6 million ( US$3.2 million ), while net loss for the first half of 2024 decreased 24.0% to RMB54.9 million ( US$7.6 million ) over the prior-year period. Adjusted net loss (1) for the quarter decreased 38.8%, from RMB20.0 million in the prior-year period to RMB12.2 million ( US$1 .7 million), while adjusted net loss for the first half of 2024 decreased 12.0% to RMB24.4 million ( US$3 .4 million), compared to the prior-year period.

Measures it listed to achieve that target included reducing administrative costs at its namesake brand by a fifth, saving a billion euros by 2028 by reducing product development cycles to three years from 50 months, cutting production times and scrapping a planned new 800-million-euro R&D site in its home city of Wolfsburg.

https://www.investing.com/news/stock-market-news/volkswagen-passenger-cars-brand-struggles-to-hit-costcutting-goal-says-handelsblatt-3590175

Used Tesla prices have been in a freefall since 2022. Price cuts and a dump from Hertz hastened the decline in Tesla''s resale values. It''s another sign Tesla''s dominance in the EV market is slipping. Longtime Tesla investor Ross Gerber has sold about half his stake in the electric car company, but still can''t his actual Tesla. Gerber recently told BI that the used-car market is so overrun with old Teslas that he''s failed at flipping his old model at what he deems a fair value. He''s right: A used Tesla certainly isn''t worth as much as it was a few years ago. In mid-2022, as demand for Tesla EVs far outweighed what Elon Musk''s company could supply, a used Model Y could go for as much as $70,000, according to data from Recurrent, which tracks secondhand EV prices. That same car today is worth less than $40,000 on the used market, the firm says. Tesla is most impacted as used EV prices fall Used EVs are becoming more affordable as more supply hits the market, and Tesla, as an early mover in the segment, is most impacted by these falling resale prices.

Also available for Google TV and Amazon Fire TV, AirConsole is a cloud-based gaming service that transforms your vehicle''s infotainment display into a full-fledged gaming console, with players using their smartphones as controllers. No extra hardware is required. The service''s catalog features over 130 titles, spanning racing, sports, puzzles, and… Read Entire Article