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Daimler cutting Mercedes and Smart prices by 18% in Switzerland

Automakers including Daimler and PSA are now offering substantial discounts in Switzerland to make it more affordable for Swiss customers to buy their cars, according to the latest from Bloomberg. The move, instituted by two of Europe's largest automakers, comes in response to the surprise decision last week by the Swiss National Bank to suddenly abandon its longstanding policy of capping trading of the Swiss Franc to 1.20 francs per euro. The policy has sent the value of the franc soaring, making imports into Switzerland less expensive while increasing the value of its exports. The discounts being offered by the automakers could therefore be viewed more as price adjustments to better match the changing currency value rather than an actual incentive. But whichever way you look at it, a new Mercedes or Smart will now cost Swiss buyers 18 percent less than the list price, while Peugeot and Citroen dealers in the Confoederatio Helvetica are chopping 1,000 francs ($1,144) off the price of a new passenger car or 1,500 francs ($1,716) for a new commercial vehicle. Conversely, high-end Swiss watchmakers like Rolex and Patek Philippe are looking at increasing their prices to keep up with the currency fluctuation, particularly in Japan, where the yen has dropped 17 percent against the franc in the past few days. News Source: BloombergImage Credit: Sandro Campardo/Keystone/AP Mercedes-Benz smart Car Buying Citroen Peugeot switzerland

Autoblog Minute: Volvo, Mercedes, Google back autonomous tech

Self-driving cars could make our commutes a breeze but what happens when something goes wrong? Three industry leaders step up with an answer. Autoblog's Adam Morath reports on this edition of Autoblog Minute, with commentary from Pete Bigelow. Show full video transcript text [00:00:00] Self-driving cars could make our commutes a breeze but what happens when something goes wrong? Three industry leaders step up with an answer. I'm Adam Morath and this is your Autoblog Minute. Volvo, Mercedes and Google have all come forward to say that in the event of a systems failure of one of their autonomous vehicles, they would be willing to accept full liability. For more we go to Autoblog's Pete Bigelow: [00:00:30] - [00:01:00] [00:01:30] [Pete Bigelow Interview] With Volvo setting the precedent we'll see how the rest of the industry responds. For Autoblog, I'm Adam Morath. Autoblog Minute is a short-form video news series reporting on all things automotive. Each segment offers a quick and clear picture of what's happening in the automotive industry from the perspective of Autoblog's expert editorial staff, auto executives, and industry professionals.

2015 Monaco F1 Grand Prix race recap [spoilers]

Lewis Hamilton came to Monaco with a new three-year deal with Mercedes-AMG Petronas and a vow to not let anything, including any "mistakes" by teammate Nico Rosberg, stand in the way of his best qualifying effort. Mercedes reportedly made it rain with a 100-million-pound deal, and Hamilton made it rain right back with his first pole position at Monaco. Rosberg did make a mistake but this time it was behind Hamilton, which meant he stuffed-up the qualifying attempts of rival drivers like Sebastian Vettel. So Rosberg starts second, 0.342 behind Hamilton but 0.449 ahead of Vettel in the Ferrari. Daniel Ricciardo thinks he should have been third, but a communication error with his engineers left him in the wrong engine setting for his final hot lap, so by the very first corner he'd lost the time he would have needed to get higher than fourth on the grid. The second Infiniti Red Bull Racing of Daniil Kvyat slots in behind him, ahead of the second Ferrari of Kimi "Not A Very Happy Day" Raikkonen, who just can't get it going lately. Sergio Perez did for the Sahara Force India what the car can't do on its own, which is grab a top-ten qualifying spot. Toro Rosso rookie Carlos Sainz had qualified eighth but missed a call to the weigh bridge, so he's been slapped into the pit lane. Pastor Maldonado in the Lotus inherits his eighth place, ahead of rookie Max Verstappen in the second Toro Rosso, and Jenson Button in the McLaren. Button only got up there because of two penalties: for Sainz, and Romain Grosjean who had qualified 11th but took a penalty for a gearbox change. Want to know how hard it is to do better on race day than in qualifying at Monaco? Even the never-say-die Fernando Alonso said, "Monte Carlo is a train of cars on Sunday, the race finishes on Saturday afternoon." Well obviously, he didn't take Max Verstappen's seek-and-destroy tactics into account. The young Dutchman had made passing look like a real option in Monaco, getting past Maldonado at St. Devote on Lap 7 after a bit of argy-bargy on Lap 6, then taking advantage of blue flags to slink past teammate Carlos Sainz and Williams driver Valtteri Bottas while hiding in Sebastian Vettel's slipstream. He tried the same move on Romain Grosjean on Lap 65, but Grosjean locked him out. Verstappen lined up the Lotus driver over the following laps, then looked like he slipped to the inside at St.