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BMW negotiates Daimler alliance, buys out car-service partner Sixt

Sixt sells its stake in DriveNow car-sharing to BMW BMW in talks with Daimler to combine car-sharing Combining car-sharing business to aid robotaxi plans FRANKFURT — Germany's BMW has bought out partner Sixt from their joint venture DriveNow, paving the way for a broader car-sharing and driverless taxi alliance with Daimler to compete against Uber and Lyft. Car rental company Sixt said on Monday it would generate an extraordinary pre-tax profit of about 200 million euros ($248 million) in 2018 from the sale of the DriveNow stake to BMW for 209 million euros. "With DriveNow as a wholly-owned subsidiary, we have all options for continued strategic development of our services," said Peter Schwarzenbauer, BMW's board member for Digital Business Innovation. "Our experience with mobility services supports our development of future autonomous, electrified and connected fleets," he said, adding that BMW aims to have 100 million customers for "premium mobility services" by 2025. The Sixt deal comes as BMW moves closer to a deal to combine its car-sharing services with Daimler's Car2Go, a person familiar with the discussions told Reuters last week. The German carmakers want to build a joint business that includes car sharing, ride-hailing, electric vehicle charging, and digital parking services, a senior executive at one of the companies said on Monday. Mercedes-Benz parent Daimler and BMW declined comment on the status of potential talks on their car-sharing business. "This is speculation, we do not comment," BMW said. The senior executive, who declined to be named because the plan is not public, said: "This will create an ecosystem which can also be used for managing robotaxi (driverless taxi) fleets." BMW would contribute its ParkNow and ChargeNow businesses to the common company, the executive said, adding that there were still differences of opinion over the valuation of Car2Go. The market for ride-hailing services currently makes up around 33 percent of the global taxi market, and could grow eightfold to $285 billion by 2030, once autonomous robotaxis are in operation, Goldman Sachs said in a recent research note. BMW and Daimler are now working on developing autonomous cars, vehicles which could enable them to up-end the market for taxi and ride-hailing services.

Honda, Hyundai top car residual value / depreciation awards list

J.D. Power announced its 2022 U.S. ALG Residual Value awards Thursday, with Honda and Hyundai topping the charts at three models apiece in the industry-standard study. The term "residual" is an industry projection of how well a car will hold its resale value three years from the original purchase date – a key metric in calculating lease costs and projecting new-car depreciation.  Award winners included several enthusiast-friendly options, including the BMW 2 Series, Dodge Charger, Subaru WRX, Mercedes-AMG GT and Toyota Tacoma. Even the Ford Bronco was recognized, beating out the Jeep Wrangler in the Off-Road Utility segment. That may seem odd given the car's issue-plagued launch, but scarcity apparently trumps quality control issues over the longer term. Here's a scrolling complete list of winners broken down by segment: “Accurately forecasting residual values in the auto industry is a key factor in assessing an estimated $225 billion lease portfolio of vehicles in the United States,” said ALG VP Eric Lyman in the company's announcement. "The brands and vehicle models that rise to the top demonstrate that they score well across the award programÂ’s criteria, including manufacturersÂ’ superior design and quality." ALG looks at several factors to determine future value, which is especially tricky with new models. For 2022, 16 different brands were recognized across 29 segments. Behind Honda and Hyundai, Audi, Kia, Mercedes-Benz, Land Rover and Subaru all managed to chart with two different models. Here's the rundown of those who won in more than one category: Honda Civic Honda Passport Honda Odyssey Hyundai Accent Hyundai Kona Hyundai Kona EV Audi A6 Allroad Audi Q3 Kia K5 Kia Telluride Land Rover Range Rover Velar Land Rover Discovery Mercedes-AMG GT 4-Door Mercedes-Benz Metris:  Subaru  WRX and  Subaru Forester Toyota Tacoma  Toyota Tundra "The award process consists of evaluating 284 models through analysis of used-vehicle performance, brand outlook and product competitiveness," the announcement said. "Eligibility for a brand award requires a manufacturer to have model entries in at least four different segments. To account for differences across trim levels, model averages are weighted based on percentage share relative to the entire model line."   Audi Honda Hyundai Kia Land Rover Mercedes-Benz Subaru Toyota

2016 Formula 1 Chinese Grand Prix recap: another wild show on and off track

Normally we use this space to provide a lengthy recap of the weekend's Formula 1 race, but we're going to try something different since most folks reading this know what happened at the Shanghai International Circuit on Sunday. Instead, we'll alight on what we saw as the big issues in and around the race. Let us know what you think in Comments. Proper qualifying is back. Thank goodness. It only took a month of embarrassment to fix it. And so is passing! For the third race in a row, big performance improvements at the ten teams behind Mercedes-AMG Petronas and a wider tire selection at this race graced us with opening stints filled with dicing cars. Seeing the McLarens on screen doesn't make us cringe. Manor doesn't only make the global feed when it's being lapped. We've been complaining about parade races for so long that we forgot excitement was possible without rain or wholesale regulation changes. Yes, Mercedes is still the king of the jungle, but there are some other proper midfield beasts on the hunt, too. Malfunctions up and down the grid did help the show in Shanghai, like Lewis Hamilton suffering perpetual troubles, Nico Hulkenberg's runaway front wheel which red-flagged Q2, and Sebastian Vettel's and Kimi Raikkonen's flubbed hot laps in Q3 that let Daniel Ricciardo slip by into second on the grid. Come race day things went all Grand Theft Auto at Turn 1 on the opening lap, sending some of the best cars to the pits. Then came Ricciardo's puncture while leading, then came the Safety Car – all by Lap 5. Nico Rosberg got 38 seconds of airtime on the way to victory – at the start and the finish, and that happened to be his margin of victory, too – otherwise he was a ghost. Everyone else was struggling and juggling. Rosberg's win at the Bahrain Grand Prix put the German at five consecutive victories going back to last year's Mexican Grand Prix. The history books show that any driver who's won five straight contests has gone on to win the championship. With his triumph in China, the German has won the season's first three races, the history books again show that the other nine drivers who've pulled that off have gone on to win the championship. Rosberg, 36 points ahead of his teammate in the standings, is having none of it. He said of the other victors, "But they didn't have Lewis Hamilton as their team-mate." Perhaps Mercedes was right not to make an engine deal with Red Bull last season.