Volkswagen AG (ADR) (OTCMKTS:VLKAY) Europe’s largest automaker, said first-quarter operating profit rose 22 percent because of record sales at the luxury Porsche and Audi brands. Earnings before interest and taxes increased to 2.86 billion euros ($3.97 billion) from 2.34 billion euros a year earlier, the Wolfsburg, Germany-based manufacturer said in a statement. Profit beat the 2.74 billion-euro average of nine analyst estimates compiled by Bloomberg. Revenue gained 2.7 percent to 48.7 billion euros. Volkswagen AG (ADR) (OTCMKTS:VLKAY) shares after opening at $52.67 moved to $53.32 on last trade day and at the end of the day closed at $53.32.
German commercial vehicle manufacturers, Daimler AG (USA) (OTCMKTS:DDAIF), have toppled Volvo Eicher CV JV in ranking and have established themselves as the third biggest truck manufacturer in India. Daimler AG ranks third after Tata Motors and Ashok Leyland, which is noteworthy, considering the company only made an entry into India two years ago. Daimler AG (USA) (OTCMKTS:DDAIF) shares advanced 1.15% in last trading session and ended the day on $92.92.
Tata Motors Limited (ADR) (NYSE:TTM) was downgraded by research analysts at Credit Suisse from an “outperform” rating to a “neutral” rating in a report released on Wednesday, The Fly OnThe Wall.com reports. Tata Motors Limited (ADR) (NYSE:TTM) shares moved down -0.40% in last trading session and was closed at $37.17, while trading in range of $ 36.59 – 37.59. Tata Motors Limited (ADR) (NYSE:TTM) year to date (YTD) performance is 20.68%.
Tesla Motors Inc (NASDAQ:TSLA) has partnered with Alibaba Group and eHi Car Services as part of an effort to reach Chinese consumers. Tesla customers will be able to pay payments online from anywhere in China and will be able to rent Model S electric vehicles through eHi. Customers can order Tesla Motors vehicles and pay for them using Alibaba’s third-party payment platform called Alipay. eHi bought two Tesla Model S electric cars and might buy more of them in May for car rental services.Tesla Motors will collaborate with China Unicom as well. China Unicom will offer access to Model S information services.Tesla Motors Inc(NASDAQ:TSLA) weekly performance is -2.87%. On last trading day company shares ended up $198.51. Tesla Motors Inc (NASDAQ:TSLA) distance from 50-day simple moving average (SMA50) is -10.48%. Analysts mean target price for the company is $227.42.
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