BEIJING/SHANGHAI (Reuters) – China’s annual consumer day TV show took aim at Volkswagen (VOWG_p.DE) and the country’s fast-growing bike-sharing market on Thursday in an otherwise subdued outing for the once feared event. Snowflakes are seen on the grille and emblem of a Volkswagen car in Warsaw, Poland December 17, 2016. REUTERS/Kacper Pempel The late evening… Continue reading UPDATE 1-China’s consumer day show targets Volkswagen, bike sharing
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UPDATE 2-All change for Audi as it predicts short-term pain
INGOLSTADT, Germany (Reuters) – Audi (NSUG.DE) said it is bracing for a difficult year on Thursday as the effects of its biggest-ever model overhaul and the emissions scandal keep Volkswagen’s main earner from catching up with German rivals Mercedes-Benz and BMW. Audi CEO Rupert Stadler (L) and CFO Alexander Seitz pose next to the Audi… Continue reading UPDATE 2-All change for Audi as it predicts short-term pain
GM’s S.Korean union says will not demand pay rise; calls for job security
SEOUL (Reuters) – General Motors’ (GM.N) South Korean union said on Thursday that it will not demand a pay rise for this year, but instead wants the U.S. automaker to provide a future production plan and job security. FILE PHOTO: The main gate to GM Korea’s Gunsan factory is seen in Gunsan, South Korea February… Continue reading GM’s S.Korean union says will not demand pay rise; calls for job security
Tesla says Model S, Model X production efficiency much improved
(Reuters) – Tesla Inc said the number of labor hours needed to produce its Model S and Model X cars have decreased considerably, following the latest report of quality problems that could prevent the carmaker from hitting its production targets. The body of a Tesla Model S is transported by an automated crane at the… Continue reading Tesla says Model S, Model X production efficiency much improved
Auto parts maker Magna invests $200 million in Lyft
(Reuters) – Canadian automotive parts supplier Magna International Inc said on Wednesday it will invest $200 million in Lyft Inc and work with the U.S. ride-hailing firm to manufacture self-driving cars. FILE PHOTO – An illuminated sign appears in a Lyft ride-hailing car in Los Angeles, California, U.S. September 21, 2017. REUTERS/Chris Helgren The news… Continue reading Auto parts maker Magna invests $200 million in Lyft
UPDATE 1-Ford recalls 1.38 million vehicles for loose steering wheel bolts
(Reuters) – Ford Motor Co (F.N) said Wednesday it is recalling 1.38 million vehicles in North America for potentially loose steering wheel bolts that could detach, in an issue linked to two accidents and one injury. People crowd around a 2017 Ford Fusion being displayed at the North American International Auto Show in Detroit, January… Continue reading UPDATE 1-Ford recalls 1.38 million vehicles for loose steering wheel bolts
UPDATE 1-GM president says ‘shared sacrifice’ needed to fix GM Korea
DETROIT (Reuters) – General Motors Co (GM.N) President Dan Ammann said on Monday the automaker’s troubled South Korean operations can be a“sustainable, profitable business,” if unions and the South Korean government agree quickly on a restructuring. FILE PHOTO: Cars made by GM Korea are seen on trucks in a yard of GM Korea’s Bupyeong plant… Continue reading UPDATE 1-GM president says ‘shared sacrifice’ needed to fix GM Korea
UPDATE 3-Britain’s Melrose raises GKN bid to $11.2 bln in final offer
LONDON (Reuters) – Melrose Industries (MRON.L) increased its hostile offer for GKN (GKN.L) by around 10 percent to 8.1 billion pounds ($11.2 billion), trying to win over investors after the British engineering firm struck a rival deal of its own last week. GKN’s board unanimously rejected the new bid on Monday saying it continued to… Continue reading UPDATE 3-Britain’s Melrose raises GKN bid to $11.2 bln in final offer
BRIEF-Avis Budget Group Moves Closer To A Fully Connected Fleet With New Toyota Partnership
March 12 (Reuters) – Avis Budget Group Inc: * AVIS BUDGET GROUP MOVES CLOSER TO A FULLY CONNECTED FLEET WITH NEW TOYOTA PARTNERSHIP * AVIS BUDGET GROUP – ANNOUNCED MULTI-YEAR DEAL THAT WILL ADD 10,000 TOYOTA VEHICLES TO AVIS CAR RENTAL’S EXPANDING FLEET OF CONNECTED VEHICLES Source text for Eikon: Further company coverage: Our Standards:The… Continue reading BRIEF-Avis Budget Group Moves Closer To A Fully Connected Fleet With New Toyota Partnership
UPDATE 1-S.Korea kicks off due diligence on GM’s S.Korean unit – KDB
SEOUL (Reuters) – South Korea held an initial meeting on Monday for its due-diligence of General Motors’ local unit to decide whether to provide funds for the unit’s troubled operations. FILE PHOTO: The main gate to GM Korea’s Gunsan factory is seen in Gunsan, South Korea February 13, 2018. Yonhap via REUTERS/File Photo State-funded Korea… Continue reading UPDATE 1-S.Korea kicks off due diligence on GM’s S.Korean unit – KDB