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2 weeks ago
Ras Al Khaimah Police on Monday announced the introduction of smart gates to regulate the flow of traffic across the emirate. Twenty gates will be installed at all entrances and exits of the emirate and powered by artificial intelligence. This initiative, part of the broader Safe City Digital System project, aims to enhance road security and monitor traffic accidents and emergencies, according to Ras Al Khaimah Police General Command. In addition, screens on the gates will inform drivers about weather updates and road conditions, contributing to a safer driving environment. The installation of 20 smart gates is underway, said Major General Ali bin Alwan Al Nuaimi, commander-in-chief of Ras Al-Khaimah Police. These gates will be integrated with the main operations room, allowing for real-time monitoring and analysis of traffic conditions. The smart gates will also feature AI-powered cameras that provide immediate reporting of traffic incidents.
2 weeks ago
Volkswagen, Mercedes, and BMW have all slashed their forecasts this month, with Aston Martin and Stellantis following suit on Monday morning. The broader picture reveals that the European auto industry has stalled. Aston Martin wrote in a statement Monday that it expects annual adjusted earnings before interest, taxes, depreciation and amortization margin in the high teens percentage, compared with a previous outlook of around 20s percentage. The British luxury sports car maker anticipates wholesale volumes will decline for the full year versus its prior growth expectation. The good news is the level of hemorrhaging cash in the first half will be lower in the second half. Management previously expected positive free cash flow in the second half. The revision was blamed on “instability” across its supply chain and a slowdown in Chinese vehicle demand. “What is different now over the past six-to-nine months is the blue-chip suppliers have had fires, floods or administrators appointed to an extent and a scale that I personally haven’t seen in my career,” Chief Executive Officer Adrian Hallmark told analysts during a call.
2 weeks ago
Volkswagen (henceforth, VW) scrapped a decades-old agreement that protected workers from layoffs earlier this month. This was just days after the company announced it would consider closing factories in Germany for the first time in its 87-year history. While VW says these measures would help tackle a sales slump and rising costs, they have invited the fury of IG Metall, the union representing German auto workers. Union members have accused the automaker’s corporate leaders of mismanagement, and putting profit before a sustainable future for the company. Here is all you need to know. Why is VW struggling? The troubles for Europe’s biggest carmaker began around a decade ago, after the “dieselgate” scandal of 2015-16. VW was found to have used software to falsify emission tests that made its vehicles appear more climate-friendly than they were, and ended up paying an estimated 30 billion euros in compensation, worldwide. More recently, the company has seen its sales slump, as Chinese electric vehicles (EVs) have not only captured the domestic market, but also made major inroads in Europe. Most of VW’s sales come from these two markets. In an interview to German Sunday paper Bild am Sonntag, Volkswagen CEO Oliver Blume said “the pie has become […]
2 weeks ago
Volkswagen AG lowered its profitability forecast for the second time this year due to sliding passenger vehicle demand, highlighting the bumpy transition to electric vehicles. Additionally, Germany’s economy is faltering, if not already in recession, and the pain has been widespread across the automotive sector. The economic slowdown in China has further pressured vehicle sales for luxury German automakers. The German car maker, known for producing Audi, Bentley, Cupra, Jetta, Lamborghini, Porsche, SEAT, Škoda, and Volkswagen brands, announced Friday that its forecast for operating return on sales – a closely watched measure of profitability – had been slashed to 5.6%, down from a forecast of 7% in July. VW lowered its expectations partly due to the expected closure costs of an Audi plant in Belgium. Bloomberg provided a snapshot of VW’s updated full-year guidance: VW has been plagued by several issues, including slowing Chinese vehicle demand, rising competition in EVs, and a deteriorating macroeconomic environment. Then there’s this… Across Europe, vehicle sales are dramatically slowing. “The downturn in EVs is putting carmakers like VW and Renault SA at risk of hefty fines as tighter European Union fleet-emissions rules are set to kick in next year,” Bloomberg recently noted. Meanwhile, what is critical to understand are ‘green’ (de-growth) policies pushed by elected and unelected […]
2 weeks ago
The Saudi Authority for Accredited Valuers (TAQEEM) launched a vehicle damage estimation service for personal purposes. The service allows individuals or companies to request for a report with regard to the damages caused to their vehicles that are not resulted from traffic or criminal accidents. The report is meant for personal uses and will be specific only to the entity or person who owns the vehicle. This service will be made available through the authority’s Taqdeer application, which is a digital platform for evaluating minor vehicle damages. The new service will be provided by Taqdeer centers that are available in 40 cities across the Kingdom. Taqdeer said that the new service was launched in response to the increased demand for the damage assessment service resulting from non-traffic accidents. Under the new service, a report will be issued by Taqdeer centers. The report will clarify the damage caused to the vehicle from misuse or negligence, such as scratches and damage to the vehicle’s interior, in addition to the estimated cost of repairing the damage and prices of spare parts for the purpose. The report is issued on the basis of the approved professional standards for evaluating vehicle damage. This report will […]
2 weeks ago
Bahraini consumers are increasingly attracted to luxury cars, with market revenues expected to reach USD 43 million in 2024. This growth comes alongside a notable shift towards electric and hybrid vehicles, as well as a rising demand for high-end SUVs. A recent report from Statista predicts that Bahrain’s luxury car market will generate revenues of USD 43 million this year, with an annual growth rate of 12.19% anticipated until 2028, resulting in a projected market size of USD 67 million by that time. Sales are expected to reach 600 units in 2024, with the average price anticipated to hit USD 105,000. The report reveals a steady increase in luxury car sales in Bahrain over the past year, driven by rising disposable incomes and a growing interest in premium vehicles. Consumers are drawn to luxury cars for their superior quality, advanced features, and the prestige associated with their brands. Key trends include a shift towards electric and hybrid models, reflecting consumers’ increasing environmental awareness. This shift has led manufacturers to broaden their offerings, presenting a wider array of electric and hybrid vehicles to meet the changing preferences of the market. Additionally, luxury SUVs are gaining popularity as Bahraini customers seek spacious […]
2 weeks ago
Rome and Berlin are siding with the European automotive industry in calling for the EU to relax CO2 emissions standards for cars as the bloc aims to end the sale of new petrol and diesel models by 2035. Italy and Germany are mustering support from other EU members for a call to relax EU targets for reducing car CO2 emissions and reconsider a 2035 ban on the sale of petrol and diesel models, Italian Industry Minister Adolfo Urso said in Brussels Wednesday evening. It was now “certain” that the ban – actually a zero limit on tailpipe emissions – would not be achieved, and the two countries plan to propose at an EU Council summit Thursday that a review clause in the legislation be brought forward from the end of 2026 to early 2025, Urso said. Echoing recent warnings from manufacturers, Urso said Europe’s car industry had “collapsed” and predicted “tens of thousands” of redundancies in the sector unless the EU changed course. The EU had two choices, the Italian minister said: firstly, to keep the target and create the conditions to allow the car industry to achieve it – an approach favoured by German economy minister Robert Habeck. “Or […]
2 weeks ago
It is mandatory on the part of foreign trucks to settle any transportation violations before the entry or exit of drivers or trucks in Saudi Arabia. This is one among the four key regulations, formulated by the Transport General Authority (TGA), in collaboration with relevant authorities, aimed at governing foreign truck operations in the Kingdom. The regulations also stipulate that foreign trucks have to obtain an electronic transport document for every shipment entering the Kingdom through the bayan.logisti.sa platform, as well as to limit transportation of goods only on the return trip from the arrival point (city or station) or other cities or stations along the return route. Foreign trucks must also fulfill the same terms and conditions for transportation applicable to the national carriers. The foreign trucks are also prohibited from concluding contracts for transportation of goods between Saudi cities. They must adhere to the approved weight limits. These regulations aimed to ensure compliance with transportation laws, promote fair competition, and enhance the logistics sector’s sustainability. The authority said that these measures aimed to ensure fair competition, create a favorable investment environment, reduce illegal practices, enhance road safety, preserve infrastructure, and support environmental sustainability in the logistics sector.
3 weeks ago
As if the EV boom needed another nail its in coffin, the UK has now produced figures showing that driving and electric vehicle is “up to twice as expensive” as driving a regular gas powered car. Data from the app ZapMap has confirmed that operating an electric vehicle (EV) can cost over 24p per mile, compared to 12.5p per mile for a diesel vehicle, according to Yahoo Finance and The Telegraph. And charging an EV at a rapid or ultra-rapid roadside station can reach up to 80p per kilowatt hour. According to calculations by The Times, a typical electric car travels 3.3 miles per kWh, making rapid chargers cost 24.1p per mile, while slower chargers cost 16.4p per mile. This is roughly double the cost of a diesel car at 12.5p per mile, with petrol cars costing 14.5p per mile. A round trip from London to Penzance would cost £148 using rapid chargers, compared to £77 for diesel and £89 for petrol. Charging at home is much cheaper, costing less than a third of rapid chargers. ZapMap noted a 5% rise in rapid charger prices over the past year, despite a 30% drop in electricity wholesale prices and falling oil […]
3 weeks ago
In this exclusive interview, Andreas Mindt, Head of Volkswagen Design delves into the enduring legacy of the iconic Golf GTI. With over 50 years of history, the GTI has become synonymous with a perfect balance of rationality and emotional appeal. Mindt reflects on the challenges of transitioning from combustion engines to electric vehicles and discusses the importance of staying true to Volkswagen’s core values as a designer. He also contrasts the Golf GTI with the Golf R, explores the role of design evolution, and offers a glimpse into the future of motoring. What in your opinion makes the Golf GTI so iconic? When you combine a rational product with emotional appeal, you create something powerful. The GTI has always struck that balance. As a front-wheel-drive car, it’s approachable and affordable, making it widely liked. Over time, its accessibility has built brand value, and after 50 years, the Golf GTI has become iconic. Designing a new version is about refining, not repeating. The best designs simplify a product, reducing it to its core essence. Take the Golf Mark IV, for example. It had a clean panel from the beltline to the rocker panel—no creases, just strong wheel arches and a slim […]
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