WASHINGTON (Reuters) – Global auto and parts manufacturers scrambled on Friday to make contingency plans and look at ways of speeding some deliveries after U.S. President Donald Trump threatened new tariffs on all Mexican imports starting early next month. A carrier trailer transports Toyota cars for delivery while queuing at the border customs control to… Continue reading Auto sector scrambles after Trump threatens Mexican tariffs
Author: Ritters US Newsfeed
Uber suspends XL service in Istanbul
ISTANBUL, May 31 (Reuters) – U.S.-based ride-hailing service Uber will suspend its UberXL services in Istanbul from Friday, it said, though passengers in Turkey’s largest city will still be able to call smaller yellow taxis through its app. The company, which reported a $1 billion loss on Thursday after spending heavily in the run-up to… Continue reading Uber suspends XL service in Istanbul
VW CEO says dieselgate disclosure allegations unfounded – Tagesspiegel
FRANKFURT, May 31 (Reuters) – Volkswagen Chief Executive Herbert Diess told German daily Tagesspiegel that he did not fail in his duty to inform markets about the gravity of VW’s diesel cheating scandal in 2015, when he was still VW’s brand chief. Prosecutors in Braunschweig, Germany are investigating whether VW executives including Diess and Chairman… Continue reading VW CEO says dieselgate disclosure allegations unfounded – Tagesspiegel
U.S. probes effectiveness of 2014 GM seat belt recall
May 31 (Reuters) – The U.S. National Highway Traffic Safety Administration said Friday it is probing the effectiveness of General Motors Co’s recall in 2014 of 1.4 million vehicles to address a problem with flexible steel cables that connect safety belts to the seat-mounted pre-tensioner. The recall covered the 2009-2010 model year Saturn Outlook and… Continue reading U.S. probes effectiveness of 2014 GM seat belt recall
EV maker Nio plans Beijing plant, will likely seek a partner – CEO
BEIJING/SHANGHAI (Reuters) – Chinese electric vehicle (EV) maker Nio Inc is keen to build a production base in Beijing and will likely seek a manufacturing partner, Chief Executive Officer and founder William Li said this week. His comments come after Nio said on Tuesday that it would form a joint venture with Beijing E-Town International… Continue reading EV maker Nio plans Beijing plant, will likely seek a partner – CEO
FCA CEO Manley sold shares for $3.5 mln this week to cover personal expense
CEO of Fiat Chrysler Automobiles (FCA) Mike Manley attends the North American International Auto Show in Detroit, Michigan, U.S., January 14, 2019. REUTERS/Rebecca Cook MILAN (Reuters) – Fiat Chrysler Chief Executive Mike Manley sold shares in the car maker for $3.46 million on May 28, the day after the announcement of a merger proposal to… Continue reading FCA CEO Manley sold shares for $3.5 mln this week to cover personal expense
UPDATE 2-Uber loses $1 billion in quarter, hitting forecast, as revenue rises 20%
SAN FRANCISCO/BENGALURU (Reuters) – Uber Technologies Inc reported a $1 billion loss and a 20% rise in revenue on Thursday in its first quarterly report as a public company, in line with the ride-hailing service’s forecasts. FILE PHOTO: Logo of the Uber is seen on a smartphone screen as a picture of stock exchange graph… Continue reading UPDATE 2-Uber loses $1 billion in quarter, hitting forecast, as revenue rises 20%
Britain’s FirstGroup shake-up to unleash Greyhound coaches
(Reuters) – Britain’s FirstGroup plans to sell U.S. coach service Greyhound and spin-off its First Bus operations in an attempt to head off shareholder pressure, lifting its share price by 13% on Thursday. Greyhound buses are lined up in New York City, U.S., June 12, 2017. REUTERS/Shannon Stapleton FirstGroup, which also runs tens of thousands… Continue reading Britain’s FirstGroup shake-up to unleash Greyhound coaches
Tesla CEO urges employees to ‘catch up’ to hit delivery record
(Reuters) – Tesla Inc has “a lot of catching up” to do but still can achieve a record quarter, Chief Executive Officer Elon Musk wrote in a new email that was reviewed by Reuters. FILE PHOTO: A Tesla logo is seen at a groundbreaking ceremony of Tesla Shanghai Gigafactory, China, Jan. 7, 2019. REUTERS/Aly Song… Continue reading Tesla CEO urges employees to ‘catch up’ to hit delivery record
FCA, Renault face tall odds delivering on cost-cutting promises in merger
FRANKFURT/DETROIT (Reuters) – Fiat Chrysler Automobiles NV and Renault SA promise huge savings from a mega-merger, but such combinations face tall odds because of the industry’s long product cycles and problems translating deal blueprints into real world success, industry veterans told Reuters. FILE PHOTO: A Fiat Chrysler Automobiles (FCA) sign is seen at the U.S.… Continue reading FCA, Renault face tall odds delivering on cost-cutting promises in merger