World Car Blog
The company Tesla announced that the yield per share in the second quarter exceeded analysts' forecasts, and that revenues were higher than expected.
The auto giant announced that the yield was $2.27 per share, and the total revenue was $16.93 billion. Analysts polled by Investing.com had expected earnings of $1.86 per share and total revenue of $16.52 billion.
Tesla shares rose three percent in after-hours trading.
In the second quarter, the gross margin in the automotive industry was 27.9 percent, which is a decrease compared to 32.9 percent in the previous quarter and 28.4 percent a year ago. Deliveries were up 27 percent from a year ago, but were down 18 percent from the previous quarter due to production disruptions caused by shutdowns due to the coronavirus pandemic.
The value of Tesla shares has fallen by 29 percent since the beginning of the year and is still down 40.29 percent from the price of $1,243.49, which they reached on November 4 last year. These stocks have underperformed the Nasdaq 100 index, which is down 23.78 percent year-to-date.
Tesla is selling off its bitcoins
Tesla, which rocked the market last year when it revealed a major investment in bitcoin, has now sold off most of its holdings in the world's most traded cryptocurrency.
The electric car maker sold 75 percent of its bitcoins, which were worth about $2 billion at the end of 2021. It is being pulled as the value of the cryptocurrency has fallen by more than 50 percent this year.
Tesla announced that it bought traditional currency with bitcoins, i.e. 936 million dollars, writes the BBC.
Tesla CEO Elon Musk (Elon Musk) has been among the most prominent proponents of cryptocurrencies, and his statements on social media often encourage significant trading in the digital asset.
Tesla's $1.5 billion investment in bitcoins, revealed in February 2021, caused a surge in demand for the currency. The price of the volatile cryptocurrency rose last year to nearly $70,000 in November before falling to around $25,000 now.
Last year, Tesla stopped accepting bitcoin as a means of payment for its cars, citing concerns about the climate impact of the energy-intensive mining of the cryptocurrency, which partially drove down its price.
French Alpine presents the electric A110 E-ternite Concept, as an announcement of the future of their electric vehicles.
This is also a hint of the techniques that Alpine's next-generation cars will use to reduce weight and maintain agility.
Unveiled on the 60th anniversary of the Alpine A110, the A110 E-ternite Concept is not only their first electric car, but also a vehicle with a removable roof section. That roof section has minimal impact on the rigidity and silhouette of the car.
The A110 E-ternite Concept isn't specifically said to herald the 2025 A110 EV, but it showcases the brand's commitment to the coupe's beloved formula: compact, lightweight, dynamically capable and engagingly quick.
As a "rolling laboratory", Alpine engineers are using the E-ternite to explore ways to electrify their flagship sports car. The company describes it as a kind of "restomod" and says it serves as "a bridge between a prestigious past and an even more ambitious future."
Based on the same chassis as the current production car, the E-ternite uses batteries from the Renault Megane E-Tech, whose CMF-EV platform will also be the basis for the Alpine electric crossover.
Alpine claims the A110 E-ternite Concept weighs 1378kg. If the eventual production A110 EV weighs anywhere near that much, it could be one of the lightest production electric vehicles. That's not only good news for its handling characteristics, but also for its efficiency: Alpine claims a range of 420 km per charge.
In terms of performance, the rear-mounted electric motor produces 239 hp and 300 Nm of torque. Acceleration from 0-100 km/h takes 4.5 seconds, while the maximum speed is 250 km/h.
Alpine worked with Getrag to adapt the automatic transmission from the petrol A110 for the new electric drivetrain.
Apart from the open roof and tweaked rear window, the Alpine A110 E-ternite Concept is visually identical to the standard car, including the cabin.
The roof panel is designed and manufactured in-house and is partially constructed using recycled carbon fiber for optimal stiffness and weight.
Alpine does not reveal how much money or time was invested in the project, but it stated that the overriding goal was "to electrify future Alpine vehicles, and why not start with the A110, as a model of sporty character known for its light weight and agility, within a realistic budget."
It looks smart, is pretty good to drive (at least in 1.0 T-GDi form), the fit and finish aren’t far short of what VW offers, and standard kit is generous, so there’s plenty to like about the Rio. Kia’s brand transformation has been complete for a while now, which is why you’ll be doing well to find any bargains; the Rio holds its value well, just as all Kias do nowadays. But while the Rio can make a great buy, when we tested one against the Renault Clio and Hyundai i20 last year, the Kia came last because of its high price tag, so-so dynamics, nondescript design and relatively inefficient mild-hybrid powertrain. So the Rio is likeable, but it’s not necessarily a class leader, despite its impressive Driver Power record.
Kia is a brand that has undergone a big transformation over the past two decades, and nowhere is this more apparent than with its Rio supermini.
When the original Kia Rio arrived in 2000, there was very little about it that appealed, from its styling to the driving experience and the technology that it featured. But it was good value and dependable, and it was these two cornerstones that allowed Kia to get a foothold in the UK.
In January this year Kia was the UK’s biggest-selling brand, and in 2022 it looks set to sell more than 100,000 cars here, claiming more than five per cent of the market. Kia still sells the Rio, which is now a desirable supermini for a number of reasons – but should you buy a used one?
The fourth-generation Rio arrived in April 2017, with the same 82bhp 1.25 and 97bhp 1.4-litre petrol engines that had been available in the Rio Mk3. While the smaller engine came only with a five-speed manual gearbox, the 1.4-litre came with a six-speed manual or four-speed automatic. More enticing though, was Kia’s 1.0 T-GDi – a three-cylinder petrol unit good for 98bhp or 117bhp with a five-speed manual. Diesel fans could buy an 88bhp 1.4 CRDi, which came only with a six-speed manual.
The 1.25-litre Pulse special edition arrived in July 2017, then in March 2018 a GT-Line trim was added to the range. A facelift in August 2020 brought upgraded infotainment and extra driver-assistance tech, plus a mild-hybrid based on the 1.0 T-GDi engine and dubbed EcoDynamics+.
Which one should I buy?
The 1.0 T-GDi engine is easily the pick of the bunch; the 1.25 and 1.4-litre engines aren’t fitted with a turbocharger and as a result they lack zip. The 1.4 CRDi diesel is rare, but can be spectacularly frugal, and because of the Rio’s youth it’s also Euro 6-compliant, so it shouldn’t fall foul of any Clean Air Zones.
No Rio is spartan, with even the entry-level 1 featuring air-con, a multifunction steering wheel, electric front windows, electrically adjustable and heated door mirrors, and Bluetooth. The 2 adds 15-inch alloys, powered rear windows, a seven-inch touchscreen display, Apple CarPlay and Android Auto, a reversing camera, rear parking sensors plus cruise control.
The Rio 3 has 16-inch wheels, climate control, navigation, heated front seats and steering wheel, privacy glass and auto wipers.
Alternatives to the Kia Rio
The toughest competition comes from the Ford Fiesta, which is readily available and cheap to buy and run. It’s also a blast to drive and usually well equipped. If you want practicality, the Vauxhall Corsa and Renault Clio have large boots, spacious cabins and ready availability, too. The Hyundai i20 is closely related to the Kia, so is great value and reliable, while the Peugeot 208 has some brilliant engines and looks smart.
If you’re flexible with your budget the Volkswagen Polo and Toyota Yaris are dependable, but they cost more than an equivalent Rio, especially when bought in hybrid form in the case of the Yaris. Other superminis to consider include the Mazda 2 and Dacia Sandero, the SEAT Ibiza, Skoda Fabia and Nissan Micra.
What to look for
The Rio came with a tyre mobility kit, not a spare. Dealers could sell you a space saver or full-size spare, though.
AEB activates between 4.9mph and 49.7mph, but it doesn’t intervene much, even when set to sensitive. The 1 has no standard AEB.
The Advanced Driving Assistance Pack was optional on the 1 and brought AEB, lane keep assist, lane follow assist and a 4.2-inch display.
Buy a facelifted 1.0 T-GDi in 2 trim and it’ll have the regular powertrain, but a 3 or GT-Line S will come with 48-volt mild-hybrid tech to help you save fuel.
We’ve heard anecdotal reports from owners of clutch, gearbox and air-conditioning faults with the Rio. It’s only been recalled once, though, and its long manufacturer warranty should give you some cover when buying second-hand.
Designed for clarity rather than flair, the Rio’s dashboard is easy to navigate and the switchgear feels robust, but some of the cabin materials are a bit lightweight for the price.
It’s easy to get comfortable behind the wheel, and those in the back have it pretty good too, with decent headroom and reasonable legroom if the front-seat occupants aren’t too tall. Boot space is among the best in class, at 325 litres with the seat backs up, or 980 litres with them folded.
The Rio 1 had a stereo with Bluetooth and USB connectivity as standard. Higher trim levels came with better tech – from October 2020, 2 trim and above had an eight-inch touchscreen infotainment system, while top-spec models got built-in sat-nav.
All Rios need to be serviced annually, with petrol models having a 10,000-mile interval between visits to the workshop; diesels stretch this cap to 20,000 miles. The maintenance schedule is based on a six-service cycle, and although Kia doesn’t offer a discounted maintenance programme nationally, many official dealers do. Also, there are service programmes in place that can help to cut costs significantly.
As an example, the first six services for a petrol-engined Rio are priced at £152, £191, £177, £262, £238 and £435. The equivalent prices for diesels are £152, £189, £176, £257, £151 and £215, and for hybrids you’ll pay £152, £254, £178, £254, £249 and then £280. But buy a service plan and you can get two services for less than £350. Even better, because all Rio engines are chain driven, there are no cambelts to replace.
The Rio Mk4 has been recalled on just one occasion so far. This solitary campaign was launched in May 2018 in relation to 2,300 cars that had been built between April and June 2017, which were fitted with a cable inside the rear doors to operate the child locks. However, it turned out the cable fitted was actually too short, which is why the locks ended up being faulty; the solution to this issue was simply to fit a longer cable.
Impressively, the previous Rio recall was issued 14 years earlier and it affected the first-generation model, which was recalled in November 2003 because of an anti-lock braking fault as a result of incorrect software being installed within the ECU. Just as impressively, the second and third-generation Rios have never been recalled by Kia in the UK – a testament to the firm’s quality control.
Driver Power owner satisfaction
The Rio has performed consistently well in our Driver Power surveys. After a slow start in 2018 when the Rio came 36th out of 75 entries, it edged up to 21st in 2019, making it the highest-rated supermini. Finishing 23rd in 2020 was decent enough, but second place overall in 2021 was much more impressive. Owners put the Rio inside the top 10 for most aspects, but safety features were marked slightly lower.
In April 2020, Citroën went on sale, bringing a surprise to the micro-mobility market thanks to a design designed to be affordable.
Popular and inspiring, it is at the center of many events, such as Fashion Week in Milan or the Youth Sports Games in Brussels. Citroën Ami is already sold in 9 European countries, and since June also in Great Britain and Turkey. Accepted by private individuals as well as industrial or service companies with more than 23,000 orders, including the exclusive My Ami Buggy, Citroën's success transcends all boundaries.
«Ami represents the spirit of Citroën, it is completely connected to its customers in their movement and everyday life. We are committed to making electrification accessible to everyone and we are very happy that Ami has achieved such success in Europe as well as outside the continent," said Vincent Cobe, CEO of Citroën.
AMI – A SUCCESS WHICH CONQUERS MORE AND MORE COUNTRIES
Since the start of its sale in April 2020, more than 22,400 orders have been made in Europe, to which are now added those from Morocco and Turkey, so that the total number is more than 23,000.
A SMART SOLUTION THAT ATTRACTS PROFESSIONALS
Ami mainly complements the vehicle fleet with industrial and service activities, helping to obtain a lower cost of maintenance.
It is especially suitable for companies whose activities require daily short and frequent drives, as well as for companies and individuals who need to go to the city center where access by vehicles is limited. Traders, artisans, local service companies, etc. who need to carry out deliveries or services, have found that Ami and Ami Cargo are ideal partners, practical and agile to carry out and develop their activities.
INCUBATOR OF NEW IDEAS
Ami's success has been enriched by meetings with other businesses with which it shares common values, which has led to the creation of partnerships during various events and awards.
Sharing communities have been created on social media where everyone can share personalization ideas, pictures or adventures with their Ami. The best example is the "My Ami Superfan" community with 112 ambassadors (65 in France and 47 in Italy) who promote Ami, share tips or offer test drives to interested people.
At the official opening of the "House of Citroën" in Milan on May 19, Ami was the centerpiece of the event as an innovative mobile object in every respect, from fully digital travel to its design for micromobility. Customers also had the opportunity to try it out.
Citroën Ami was also present in Brussels during the Youth Sports Games, which took place between May 30 and June 4. Ami had his place among 400 participants, aged between 16 and 17, from 33 countries, who each year share the same values that Citroën shares with them through Ami: excellence, respect, friendship, solidarity and tolerance.
AN IMAGINATIVE SOLUTION THAT CRITICS LOVED
Since it went on sale, Ami has won many awards thanks to its boldness and the values it represents.
In Portugal, Ami was voted "Product of the Year" in the category of electric vehicles by 6,600 consumers in the annual poll of ConsumerChoice and Netsonda, the largest research and services company.
In the UK, a few weeks before the start of sales, Ami won the new «Innovation of the Year» award at the first edition of the Move Electric Awards, which represents the machines, companies and individuals who strive to shake up electric mobility in England.
The Citroën Ami is on its way to becoming a phenomenon wherever it is commercialized. For now, it is available in 11 countries, in Europe and Africa - the Middle East, but it certainly won't stay there and won't stop surprising us.
Stellantis has officially confirmed the termination of the joint venture with Guangzhou Automobile Group Co. (GAC) in China.
On the other hand, Stellantis will retain its second Chinese joint venture with Dongfeng, after reaching an agreement on a share buyback framework a few days ago.
The Stellantis-GAC joint venture, which began operations in 2010 as FCA-GAC, has produced several Jeep models for the Chinese market, including the Renegade, Compass, Cherokee and Grand Commander. Sales of the Jeep brand in China have been rather poor, however, prompting the automaker to close one GAC plant and two Dongfeng plants last year.
According to Carscoops, the split between Stellantis and GAC signals the early death of China's Jeep Grand Commander that was refreshed last year.
According to Reuters, a Stellantis spokesman said: "We have come to the conclusion that it is better to close the joint venture," describing it as a money-losing business.
Despite the hiatus, Stellantis will continue to operate in China through its dealer network, selling imported rather than locally produced Jeeps. More specifically, Stellantis states: "The Jeep brand will continue to strengthen its product offering in China with an enhanced electrified lineup of imported vehicles."
Stellantis hopes that the strategic changes in the joint ventures will help it increase its share of the Chinese market, which is currently below 1 percent.
Some of those updates will include two new exterior colors, called "Earl" and "Reign." The first of these is a simple shade of gray with aquamarine details that will replace "Snazzberry" (dark red), which was offered with the latest generation Wrangler.
The most significant change in the Wrangler's redesign, however, is the launch of the new "Freedom" edition, which was first introduced earlier this month. The Freedom Edition costs an additional 3,325 euros and includes a steel front bumper with winch, black rims, body-colored bumpers, LED headlights and LED fog lights. The Wrangler Freedom also gets American flags on the front fenders and an "Oscar Mike" badge on the tailgate, according to Jutarnji.hr.
In addition to new colors and the Freedom Edition, the updates for 2023 round out the new standard and optional 17-inch wheel designs for the Wrangler Rubicon and the availability of American flag decals on the front bumpers for all models.
All the same powertrain options carry over to the 2023 model year. These include a standard 3.6-liter naturally aspirated Pentastar V6 with around 290 hp and 353 Nm of torque, a mild hybrid version of the same engine, a 2.0-liter four-cylinder with 270 hp and 400 Nm, a 2.0-liter four-cylinder plug-in hybrid with a turbo and two electric motors, and a 3.0-liter V6 EcoDiesel that produces 260 hp and 600 Nm of torque.
At the top of the range is still the Wrangler Rubicon 392 with its 6.4 liter Hemi V8 engine capable of around 480 HP and 637 Nm.
While we think some of the cabin ergonomics have taken a step back, there’s still plenty to like about the T-Roc as a whole. Be careful with the options list though - with some extras our test car came out to an eye watering £38k.
This is the new-for-2022 Volkswagen T-Roc; a model that has been a booming success for the German brand since its arrival. Over one million of these compact SUVs have been shifted since its launch just five years ago, but with ever strengthening competition, VW has seen fit to give one of its most popular models a nip and tuck.
Most of the styling changes for the chunky-looking T-Roc focus on the lighting. All models get LED tech at the front now, while the grille takes inspiration from the latest Polo and Golf by employing a slim lighting strip that spans the two headlights. The rear units, also LED, get scrolling indicators. Wheel designs are also refreshed, and there are one or two changes to the exterior colour palette; our test car is finished in Ascot Grey, a no-cost option.
Inside, there are some more significant changes. The most obvious comes in the centre of the dash, where the layout has been reconfigured to squeeze in a new, larger, ‘floating’ style touchscreen. The eight inch display comes with 3D navigation, wireless Apple CarPlay and Android Auto, and a pair of USB-C ports - two more are found in the rear for back seat passengers.
Lower down the dashboard, the old physical switches for the climate controls are gone, and in their place sit a set of touch sensitive keys. If you want to adjust the temperature or the fan speed, you can either swipe or tap on a sliding scale to adjust them. While there’s a little groove to let your fingers find them a little more easily, they’re still not very intuitive.
At least when we previously tried the T-Roc in a lower trim level, it had physical buttons on the steering wheel. They were straightforward, looked neat enough and got the job done.
This model however, features touch sensitive buttons with haptic feedback of sorts, and we’re not sold on them at all. Inconsistent in their response, they’re frustrating to use and it’s all too easy to accidentally skip a track, radio station, or accidentally alter the volume. The layout is largely similar to the physical keys on the standard steering wheel, but they’re so much less tactile and satisfying to use. Both the wheel keys and the climate controls feel like making a change purely for aesthetics rather than for functionality. We think they’re both examples of bad design.
At least it's hard to fault the practicality. Even though the T-Roc is 45mm shorter than a Golf, the raised roofline means that it’s even more spacious inside. Rear headroom and knee room are both great, while the 445-litre boot is 64 litres up on a Golf. There’s a movable false floor back there, which gives you a choice between maximising the space or having a level load lip.
Little has changed about the way the T-Roc drives, which means buyers will get the same solid, reassuring feel that’s typical of pretty much any VW on sale currently. The steering is precise and fairly light, so it’s easy to drive around town, it goes through corners competently and with plenty of grip, while at motorway speeds, it feels stable and completely reassuring.
Our test car was also equipped with adaptive dampers. They’re a £1,065 option, allowing the driver to adjust the firmness of their response. We’d keep them in the softer setting; like this, the T-Roc is slightly more comfortable than on its standard passive dampers, while the firmer setting removes some comfort without any significant improvements in body control. Either way, the improvement is only marginal, so most buyers should be happy saving the cash and sticking with the standard setup.
Elsewhere in the range, buyers can choose from a 2.0-litre petrol with 187bhp and four-wheel drive, and two 2.0-litre diesels with 113bhp and 148bhp - the latter also available with four-wheelalso a high performance T-Roc R with 296bhp.
Officially, the T-Roc 1.5 TSI will hit 46.3 mpg. In the real world, that seems fairly accurate; we achieved high thirties/low forties mpg around town, and reached as high as 50mpg at a steady motorway cruise.
It’s a shame that the DSG gearbox isn’t quite up to the same high standards. It’s okay most of the time, but when manoeuvring at low speed - particularly in reverse - it’s very jumpy, which can make parking in tight spots or on inclines a little bit tense.
There is just one more issue though, and that’s the price. This T-Roc complete with a 1.5 turbocharged petrol engine, automatic gearbox and in high-ranking R-Line trim, starts at £33,095. With options, including the panoramic sunroof (£1,150), Matrix LED headlights (£1,650), a very underwhelming Beats hi-fi (£470) plus those adaptive dampers, among others, and the price comes to an eyebrow-raising £38,080. We’re really not convinced that the T-Roc feels special enough to justify that price.
Volkswagen T-Roc R-Line
1.5-litre 4cyl petrol turbo
seven-speed auto, front-wheel drive