by Chris Bryant When companies book a massive writedown, shareholders often just shrug. That’s because impairments usually happen a long time after the market has formed a fairly accurate opinion of the company’s financial position — and a charge doesn’t impact cash. JLR will shell out about 4 billion pounds this financial year on that… Continue reading The wheels have come off at Jaguar Land Rover for Tata Motors
Author: Economic Times of India Online News
Volvo Cars courts investors to raise cash for Polestar
The company is also ditching the industry’s traditional route to market via dealers. STOCKHOLM: Volvo Cars is talking to Chinese and U.S. tech investors as the company seeks external finance for its Polestar performance electric car brand, the Swedish company’s chief said on Thursday. Carmakers are seeking partnerships to cut the cost of building new… Continue reading Volvo Cars courts investors to raise cash for Polestar
No deal Brexit will force 3-weeks JLR plant shutdown in April, profitability to be hit: Tata Motors
JLR would also need to reassess its manufacturing and sourcing strategy. NEW DELHI: Tata Motors Thursday said in case of a “no deal Brexit” JLR will have two to three weeks of plants shutdown in the UK, while its British arm’s profitability will be adversely impacted in the long term. As part of its preparations… Continue reading No deal Brexit will force 3-weeks JLR plant shutdown in April, profitability to be hit: Tata Motors
Fitch puts Tata Motors on negative watch over JLR’s Brexit woes
The action was prompted by uncertainty ahead of Brexit. Fitch Ratings said on Wednesday it has placed the credit rating of India’s Tata Motors Ltd on negative watch, stating increasing risks for its British luxury car unit – Jaguar Land Rover (JLR) – over a potentially chaotic Brexit. This comes after the ratings agency placed… Continue reading Fitch puts Tata Motors on negative watch over JLR’s Brexit woes
January new car registrations in Poland boosted by companies
The most popular model in January was the Skoda Octavia. Poland: Poland’s new car registrations rose by 0.58 percent year on year to 51,335 in January, helped by strong activity from companies buying vehicles for business use, the Samar research institute said on Tuesday. Registrations were also boosted by the sale of cars from the… Continue reading January new car registrations in Poland boosted by companies
Fitch puts ratings of Jaguar Land Rover under review citing Brexit
JLR, based in central England, is also planning to prune its workforce as it battles to return to profitability amid lower Chinese demand and a slump in European diesel sales. Fitch Ratings said on Tuesday it has placed the credit ratings of Britain’s biggest carmaker Jaguar Land Rover under review for possible downgrades, citing increasing… Continue reading Fitch puts ratings of Jaguar Land Rover under review citing Brexit
US judge lets most emissions claims against Daimler proceed
By David Shepardson WASHINGTON – A federal judge allowed most claims against Daimler AG to move forward in a 2016 lawsuit by vehicle owners that claims the German automaker’s Mercedes diesel vehicles used illegal software to emit excess emissions. In a ruling late on Friday, Judge Jose Linares of U.S. District Court in New Jersey… Continue reading US judge lets most emissions claims against Daimler proceed
Musk makes all Tesla patents public to ‘fight climate change’
Highlights Musk promised that the company “will not initiate patent lawsuits against anyone who, in good faith, wants to use our technology”, It was a remarkable move in an industry where the smallest idea or seed of invention is carefully guarded to protect its monetary value, Musk said that patents too often only served “to… Continue reading Musk makes all Tesla patents public to ‘fight climate change’
Hyundai Motor to invest $48 million in low-wage carmaking joint venture
President Moon Jae-in has made job creation a top priority since unemployment rates hit a 17-year high last year. SEOUL: Hyundai Motor announced on Thursday a $48 million investment in a contract auto manufacturing joint venture in South Korea that will create 1,000 new jobs but prompted strong protests from its unionised workers. Hyundai‘s first… Continue reading Hyundai Motor to invest $48 million in low-wage carmaking joint venture
Maruti Suzuki calls for reduction in taxes on automobiles
Tax on automobiles in India is higher compared to many other countries and there is a need to reduce it in order to create demand and develop the industry, Maruti Suzuki India Managing Director and Chief Executive Officer Kenichi Ayukawa said Wednesday. Currently, automobiles attract peak GST rate of 28 per cent with additional cess… Continue reading Maruti Suzuki calls for reduction in taxes on automobiles