* Scout24 turned down approach by Auto1, sources say * Company previously turned down billion euro takover bid (Adds detail, background) FRANKFURT, Jan 30 (Reuters) – German online classifieds company Scout24 AG has rejected an expression of interest for one of its businesses from a rival, people close to the matter said. German used-car dealing… Continue reading UPDATE 1-Scout24 rejects approach for car unit from Auto1 – sources
Author: Ritters US Newsfeed
Germany’s Osram buys UK’s Ring Automotive to reach end consumers
FRANKFURT, Jan 30 (Reuters) – German lighting group Osram has bought Britain’s Ring Automotive to gain access to the consumer market for auto accessories. Osram purchased Ring from Rubicon Partners. It has 160 employees and sales of 40 million pounds ($52.44 million) in 2017. Osram, which mainly sells its products to manufacturers rather than end… Continue reading Germany’s Osram buys UK’s Ring Automotive to reach end consumers
Ghosn says Nissan executives used ‘plot and treason’ to halt Renault integration: Nikkei
TOKYO (Reuters) – Carlos Ghosn said Nissan executives opposed to his plans for closer ties with automaking partner Renault SA resorted to “plot and treason” to disrupt them and were behind the financial misconduct allegations against him. FILE PHOTO: Carlos Ghosn, Chairman and CEO of the Renault-Nissan Alliance, poses after the Renault’s 2015 annual results… Continue reading Ghosn says Nissan executives used ‘plot and treason’ to halt Renault integration: Nikkei
Chinese EV carmaker NIO aims to raise $650 million via convertible bond
HONG KONG (Reuters) – Electric carmaker NIO Inc, among rivals to Tesla in China, launched a $650 million five-year convertible bond on Wednesday, aiming to use the proceeds to fund expansion. FILE PHOTO: A man is silhouetted in front of Nio cars at the auto show, in Shanghai, China April 20, 2017. REUTERS/Aly Song The… Continue reading Chinese EV carmaker NIO aims to raise $650 million via convertible bond
Renault-Nissan group sold most cars last year, but VW’s No.1 including trucks
FILE PHOTO: An attendee takes a photograph of Volkswagen cars at the North American International Auto Show in Detroit, Michigan, U.S., January 15, 2019. REUTERS/Rebecca Cook TOKYO (Reuters) – Volkswagen Group has held on to its position as the world’s top-selling automaker for the fifth year in a row, although the German group was edged… Continue reading Renault-Nissan group sold most cars last year, but VW’s No.1 including trucks
UPDATE 2-Japan’s Akebono Brake seeking capital from Toyota, debt relief
TOKYO (Reuters) – Japan’s Akebono Brake Industry Co Ltd is seeking a capital infusion from top shareholder Toyota Motor Corp and a moratorium on debt repayment as part of a revival plan, sending its shares tumbling by a quarter on Wednesday. The brake maker, a supplier to automakers including General Motors Co which makes up about… Continue reading UPDATE 2-Japan’s Akebono Brake seeking capital from Toyota, debt relief
Japan’s Akebono Brake seeks relief from lenders – Nikkei
Jan 30 (Reuters) – Japan’s Akebono Brake Industry Co Ltd is seeking a capital infusion from top shareholder Toyota Motor Corp and financial relief from bank lenders as it tries to turn operations around under a private workout scheme, Nikkei newspaper reported on Wednesday. The brake maker had filed for an out-of-court turnaround process with… Continue reading Japan’s Akebono Brake seeks relief from lenders – Nikkei
VW’s Traton trucks pursues growth with China, U.S. alliances
FILE PHOTO: Visitors stand at the booth of Volkswagen’s truck unit Traton Group, former Volkswagen Truck & Bus AG, in Hanover, Germany September 19, 2018. REUTERS/Fabian Bimmer/File Photo FRANKFURT (Reuters) – Volkswagen’s trucks business Traton wants to use alliances with rivals in China, the United States and Japan to tap into global growth and achieve… Continue reading VW’s Traton trucks pursues growth with China, U.S. alliances
UPDATE 1-Sweden’s Autoliv delays 2020 targets as car markets slow
STOCKHOLM (Reuters) – Sweden’s Autoliv forecast lower-than-expected organic sales growth this year and delayed its 2020 sales and margin targets, blaming a slowdown in car production and sales as well as an increase in raw material prices. The world’s largest maker of airbags and seat-belts said on Friday it was maintaining its targets of reaching… Continue reading UPDATE 1-Sweden’s Autoliv delays 2020 targets as car markets slow
Saudi Arabia’s PIF slashes exposure to Tesla: FT
A Tesla car is seen in Santa Monica, California, United States, October 23, 2018. REUTERS/Lucy Nicholson (Reuters) – Saudi Arabia’s Public Investment Fund (PIF) has slashed its exposure to Tesla Inc, the Financial Times reported on Monday, citing people with direct knowledge of the matter, sending the electric car maker’s shares down 2 percent. The… Continue reading Saudi Arabia’s PIF slashes exposure to Tesla: FT