UPDATE 1-Tesla’s store-shuttering strategy may pull the rug out of solar

SAN FRANCISCO (Reuters) – Tesla Inc’s sudden decision to shutter the bulk of its stores around the world raises a red flag over the future of its solar branch, a declining business it paid $2.6 billion for in a controversial 2016 deal. FILE PHOTO: A SolarCity vehicle is shown in San Diego, California, U.S., November… Continue reading UPDATE 1-Tesla’s store-shuttering strategy may pull the rug out of solar

RPT-Tesla’s store-shuttering strategy may pull the rug out of solar

SAN FRANCISCO (Reuters) – Tesla Inc’s sudden decision to shutter the bulk of its stores around the world raises a red flag over the future of its solar branch, a declining business it paid $2.6 billion for in a controversial 2016 deal. FILE PHOTO: A SolarCity vehicle is shown in San Diego, California, U.S., November… Continue reading RPT-Tesla’s store-shuttering strategy may pull the rug out of solar

U.S. auto sales fall in February on weak SUV demand

(Reuters) – Automakers on Friday reported a decline in U.S. light vehicle sales for February as demand for SUVs slows after years of rapid growth, pointing to a drop in overall sales in 2019. FILE PHOTO: A Fiat Chrysler Automobiles (FCA) sign is seen at the U.S. headquarters in Auburn Hills, Michigan, U.S. May 25,… Continue reading U.S. auto sales fall in February on weak SUV demand

Jaguar Land Rover to announce major UK investment: BBC

FILE PHOTO: A worker arrives at Jaguar Land Rover’s Halewood Plant in Liverpool, Britain, January 10, 2019. REUTERS/Phil Noble LONDON (Reuters) – Luxury carmaker Jaguar Land Rover, part of Tata Motors Ltd, is preparing to announce hundreds of millions of pounds worth of investment in Britain, the BBC reported on Friday. The reported investment would… Continue reading Jaguar Land Rover to announce major UK investment: BBC

Volkswagen’s flagship VW brand missed margin goal in 2018: Spiegel

FILE PHOTO: The Volkswagen logo is seen on the front of a car at the North American International Auto Show in Detroit, Michigan, U.S., January 14, 2019. REUTERS/Jonathan Ernst/File Photo FRANKFURT (Reuters) – Volkswagen’s flagship VW brand missed its margin target in 2018 as operating profits declined despite growth in top-line revenues at the German… Continue reading Volkswagen’s flagship VW brand missed margin goal in 2018: Spiegel

Japan’s Subaru plans biggest-ever global recall over brake lights

FILE PHOTO – The Subaru booth displays the company logo at the North American International Auto Show in Detroit, Michigan, U.S. January 16, 2018. REUTERS/Jonathan Ernst/File Photo GLOBAL BUSINESS WEEK AHEAD TOKYO (Reuters) – Subaru Corp plans to recall around 2.3 million vehicles globally over a brake light problem, in what would be the automaker’s… Continue reading Japan’s Subaru plans biggest-ever global recall over brake lights

CORRECTED-UPDATE 4-Tesla to close many stores as $35,000 Model 3 goes on sale

SAN FRANCISCO (Reuters) – Tesla Inc said on Thursday it would offer a $35,000 version of its Model 3 sedan with a delivery time of two to four weeks, while closing many of its retail stores worldwide. FILE PHOTO: A Tesla Model 3 sedan, its first car aimed at the mass market, is displayed during… Continue reading CORRECTED-UPDATE 4-Tesla to close many stores as $35,000 Model 3 goes on sale

Uber in advanced talks to buy Middle East rival Careem – Bloomberg

FILE PHOTO: Uber’s logo is displayed on a mobile phone in London, Britain, September 14, 2018. REUTERS/Hannah Mckay/File Photo (Reuters) – Uber Technologies Inc is in advanced discussions to buy its Dubai-based rival Careem Networks FZ, Bloomberg reported on Thursday, citing people familiar with the matter. The companies may announce a cash-and-stock transaction that values… Continue reading Uber in advanced talks to buy Middle East rival Careem – Bloomberg

Kia, Hyundai expand U.S. engine fire recalls by 534,000 vehicles

WASHINGTON (Reuters) – Kia Motors Corp and affiliate Hyundai Motor Co said on Thursday they are recalling around 534,000 additional U.S. vehicles at risk of engine fires. FILE PHOTO: A 2012 Kia Soul, whose design is inspired with ideas from LPGA golfer Michelle Wie, is seen at the LA Auto Show in Los Angeles November… Continue reading Kia, Hyundai expand U.S. engine fire recalls by 534,000 vehicles

Hyundai Motor CEO says China capacity cuts being considered: sources

FILE PHOTO: Hyundai cars are seen at a plant of Hyundai Motor Co on the outskirts of Beijing, China January 25, 2019. REUTERS/Jason Lee/File Photo SEOUL (Reuters) – Hyundai Motor Co, which is reeling from tumbling sales in China, is considering cutting capacity at its factories in its biggest market, Chief Executive Lee Won-hee said,… Continue reading Hyundai Motor CEO says China capacity cuts being considered: sources