BEIJING (Reuters) – China’s Geely Automobile Holdings Ltd said higher sales of its sedans and sports utility vehicles (SUVs) drove 2018 net profit up 18 percent, but forecast flat sales growth for this year due to uncertainty about overall domestic demand. FILE PHOTO: The Geely Automobile Holdings logo is pictured at the Auto China 2016… Continue reading China’s Geely posts 18 percent profit jump, predicts flat 2019 sales
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China’s Geely says 2018 net profit climbs 18 pct on higher revenue
FILE PHOTO: The Geely Automobile Holdings logo is pictured at the Auto China 2016 auto show in Beijing, China April 25, 2016. REUTERS/Kim Kyung-Hoon/File Photo BEIJING (Reuters) – China’s Geely Automobile Holdings Ltd said on Thursday higher sales drove its 2018 net profit up 18 percent, even as growing political uncertainty affected overall domestic demand.… Continue reading China’s Geely says 2018 net profit climbs 18 pct on higher revenue
At IPO road show, Lyft executives look to lower insurance costs
FILE PHOTO: A car with a Lyft logo in its window drives down a street as the company prepares for its upcoming IPO in New York, U.S., March 19, 2019. REUTERS/Lucas Jackson/File Photo BOSTON (Reuters) – Lyft Inc executives are focused on cutting insurance costs and will phase in self-driving vehicles on simple routes first,… Continue reading At IPO road show, Lyft executives look to lower insurance costs
UPDATE 3-BMW plans to cut costs after warning on profits
MUNICH (Reuters) – BMW expects group pretax profit to fall by more than 10 percent this year and plans a sweeping 12 billion euro ($13.6 billion) savings and efficiency plan to help offset higher technology investment and currency costs. The German carmaker last week reported a 7.9 percent fall in 2018 operating profit and said… Continue reading UPDATE 3-BMW plans to cut costs after warning on profits
Ford adds production of electric vehicles at second North American site
DETROIT (Reuters) – Ford Motor Co said on Wednesday it is adding production of a fully electric vehicle at a second North American plant as part of its $11 billion investment plan set last year. FILE PHOTO: The Ford logo is seen at the North American International Auto Show in Detroit, Michigan, U.S., January 15,… Continue reading Ford adds production of electric vehicles at second North American site
Safety first: Volvo to add in-car sensors to prevent drunk driving
GOTHENBURG (Reuters) – Swedish automaker Volvo hopes to reinforce its reputation for safety-first driving by installing cameras and sensors in its cars from the early 2020s, monitoring drivers for signs of being drunk or distracted and intervening to prevent accidents. FILE PHOTO: The 2016 Volvo XC90, winner of the Truck of the Year award at… Continue reading Safety first: Volvo to add in-car sensors to prevent drunk driving
UPDATE 2-Hydro working to restore operations after cyber attack
OSLO (Reuters) – Norsk Hydro, one of the world’s largest aluminum producers, has made some progress in restoring operations but is not yet back to normal after a ransomware cyber attack, the company said on Wednesday. A sign warning employees not to connect devices to the network in the wake of a cyber attack is… Continue reading UPDATE 2-Hydro working to restore operations after cyber attack
BMW warns of significant profit fall in 2019 seeks 12 billion euros in cuts
FILE PHOTO: The BMW logo is seen on the wheel of a vehicle presented at the Auto China 2016 auto show in Beijing, China, April 29, 2016. REUTERS/Damir Sagolj/File Photo MUNICH (Reuters) – BMW (BMWG.DE) on Wednesday said it expected group pretax profit to fall by more than 10 percent in 2019 and announced a… Continue reading BMW warns of significant profit fall in 2019 seeks 12 billion euros in cuts
Dongfeng-Nissan JV says mid-term China sales plan has not changed
FILE PHOTO: The Nissan logo is seen at Nissan car plant in Sunderland, Britain February 4, 2019. REUTERS/Phil Noble BEIJING (Reuters) – Nissan Motor’s China joint venture with Dongfeng has not made any changes to its mid-term China sales plan, a company spokeswoman told Reuters on Wednesday, responding to a report that it has cut… Continue reading Dongfeng-Nissan JV says mid-term China sales plan has not changed
Exclusive: Lyft’s IPO already oversubscribed – sources
FILE PHOTO: An electric scooter from the ride sharing company Lyft is shown on a downtown sidewalk in San Diego, California, U.S., March 15, 2019. REUTERS/Mike Blake NEW YORK (Reuters) – Lyft Inc’s initial public offering (IPO) is oversubscribed based on commitments made so far by investors, making it more likely that the ride-hailing startup… Continue reading Exclusive: Lyft’s IPO already oversubscribed – sources