Cars

Past peak oil? Industry hit by weak demand finally faces threat from electric cars

Auto Blog News Feed - Tue, 05/19/2020 - 14:28

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Oil companies may be facing uncertainty as the coronavirus pandemic triggers a collapse in demand for their products, but auto makers are betting the crisis will help accelerate an electric future. With economies reeling from lockdowns to curb the virus, the sharpest plunge in oil prices in two decades has slashed the cost of filling up a tank of gas, eroding some of the incentive to make the switch to cleaner fuels. Looking ahead, cuts in capital spending forced upon energy companies as their

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Past peak oil? Industry hit by weak demand finally faces threat from electric cars originally appeared on Autoblog on Tue, 19 May 2020 09:28:00 EDT. Please see our terms for use of feeds.

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Mitsubishi reports an 89% drop in annual profit

Auto Blog News Feed - Tue, 05/19/2020 - 13:45

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Mitsubishi Motors Corp will focus on cutting fixed costs by 20% or more in the next two years after reporting an 89% drop in annual profit, its weakest performance in three years, and skipping its year-end dividend. The coronavirus crisis has exacerbated Mitsubishi's struggles in a year where Japan's sixth biggest carmaker was already battling falling sales in China and also southeast Asia, its largest market which accounts for one-quarter of sales. Mitsubishi also said on Tuesday it

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Mitsubishi reports an 89% drop in annual profit originally appeared on Autoblog on Tue, 19 May 2020 08:45:00 EDT. Please see our terms for use of feeds.

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Uber to focus on core rides, deliveries as it cuts thousands more jobs

Auto Blog News Feed - Tue, 05/19/2020 - 01:08

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Uber will cut about 3,000 jobs, in addition to the 3,700 it had announced earlier this month, Khosrowshahi said, adding that the company plans to reduce investments in several "non-core projects." Khosrowshahi did not directly mention these businesses in his email and a spokesman declined to comment beyond the email. Khosrowshahi said Uber must establish itself as a self-sustaining enterprise no longer in need of outside capital, calling the company's food delivery business Uber Eats the "next

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Uber to focus on core rides, deliveries as it cuts thousands more jobs originally appeared on Autoblog on Mon, 18 May 2020 20:08:00 EDT. Please see our terms for use of feeds.

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Autoblog is Live: Playing V-Rally 4

Auto Blog News Feed - Mon, 05/18/2020 - 18:50

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We're playing F1 2019 today.

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Autoblog is Live: Playing V-Rally 4 originally appeared on Autoblog on Mon, 18 May 2020 13:50:00 EDT. Please see our terms for use of feeds.

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