Nissan’s board is set to formally adopt the new rules, including the creation of a more independent board, by the end of June. Tokyo: Nissan Motor no longer has an office staffed by an inner circle of people working for the chief executive officer following the arrest and exit of former chairman Carlos Ghosn, a… Continue reading Nissan Scraps CEO Office in Post-Ghosn Era
Author: Economic Times of India Online News
Suzuki Motor shares slide 7% on $714 million recall-related loss
TOKYO: Shares of Suzuki Motor Corp slumped 7 percent in early Tokyo trade on Monday after the company flagged an extraordinary loss of 80 billion yen ($714 million) due to the recall of nearly 2 million cars related to improper vehicle inspections. The automaker said on Friday it would book the loss in January-March, its… Continue reading Suzuki Motor shares slide 7% on $714 million recall-related loss
Daimler faces probe over ‘new cheating software’
Berlin: Daimler confirmed Sunday it was facing a regulatory probe after a report said German authorities have uncovered a previously unknown type of pollution trickery software allegedly installed by the car giant in some of its vehicles. The Federal Motor Transport Authority (KBA) has initiated a formal hearing procedure, Bild am Sonntag newspaper reported. The… Continue reading Daimler faces probe over ‘new cheating software’
Mazda recalls nearly 190K cars due to failing wipers
DETROIT: Mazda is recalling nearly 190,000 Mazda 3 compact cars in the U.S. because the windshield wipers can fail. The company says in documents posted Saturday by the U.S. National Highway Traffic Safety Administration that the recall covers cars from the 2016 through 2018 model years. The Japanese automaker traced the problem to metal deposits… Continue reading Mazda recalls nearly 190K cars due to failing wipers
Dongfeng Honda starts operation of its third plant in China
New Delhi: Dongfeng Honda Automobile on Friday announced that the company has started the operation of its third factory in the central Chinese city of Wuhan. Sales of Dongfeng Honda witnessed a year-on-year surge of 19.8 percent in the first quarter of 2019, thanks to a continuing popularity of the CR-V sports utility vehicle and… Continue reading Dongfeng Honda starts operation of its third plant in China
Suppliers Freudenberg, Benteler join forces in electric cars
Benteler will provide know-how on chassis and system integration and Vibracoustic expertise in reducing noise and vibration, the companies said. FRANKFURT: German car parts makers Benteler and Freudenberg Vibracoustic are joining forces in the development of parts for electric vehicles, the companies said on Thursday, amid a growing trend of companies in the sector cooperating… Continue reading Suppliers Freudenberg, Benteler join forces in electric cars
Micro-mobility startup Pi Beam Labs raises pre-Series A funding
Chennai: Pi Beam Labs, a maker of electric utility vehicles for the micro-mobility market, and a startup incubated at IIT-Madras’ Incubation Cell has raised an undisclosed amount of pre-Series A funding from Eagle10 Ventures, Bluehill Capital, and other high net-worth individuals. The startup works with public sector undertakings on last-mile delivery of gas cylinders and… Continue reading Micro-mobility startup Pi Beam Labs raises pre-Series A funding
BMW Group India posts highest-ever Q1 sales growth of 19%
New Delhi: BMW Group India on Thursday posted highest ever Q1 sales growth of 19 per cent at 2,822 units for the period ended March 31st 2019. All three brands – BMW, MINI and BMW Motorrad – are on a strong growth track from the start of the year overcoming the current market scenario, the… Continue reading BMW Group India posts highest-ever Q1 sales growth of 19%
Ford would reconsider UK investments if no deal on Brexit
HALFWEG: Ford warned Tuesday that it will reconsider its investments in Britain if the country cannot work out a deal to leave the European Union that guarantees smooth trading with the bloc. At a glitzy unveiling of new cars with electric and hybrid engines, Ford of Europe Chairman Steven Armstrong warned of the potentially disastrous… Continue reading Ford would reconsider UK investments if no deal on Brexit
Complete Auto Sales Analysis FY19: A Roller coaster year for automakers
After previous fiscal’s excitement overcast fizzed away in the first half of the financial year 2018-19, auto demand slipped down south resulting into a lower single digit growth for most of the segments in FY 2018-19. Macroeconomic factors like interest rate, inflation and good forecast monsoon lifted the demand in the first half of the… Continue reading Complete Auto Sales Analysis FY19: A Roller coaster year for automakers