As part of the alliance that includes Nissan and Renault, Mitsubishi Motors is also targeting cost-savings of more than 100 billion yen over the next three years due to development and procurement efficiencies. TOKYO: Mitsubishi Motors Corp on Monday said its operating profit more than doubled during the third quarter as higher sales in Asia… Continue reading Mitsubishi Motors Q3 profit jumps 19 fold to $865 mn
Author: Economic Times of India Online News
Australia new vehicle sales make strong start in Jan
The Australian Federal Chamber of Automotive Industries’ VFACTS report showed 88,551 new vehicles were sold in January, up a healthy 4.3 per cent on the same month of last year.
Volkswagen offers two-step wage increase in German pay talks
The German carmaker has proposed a 30-month wage contract for about 120,000 staff, with the two-step salary increase starting in May, it said in a written statement published after talks with the IG Metall labour union.
German industrial workers to start 24-hour walkouts on Tuesday
The union has also asked for workers to be given the right to reduce their weekly hours to 28 from 35 to care for children, elderly or sick relatives, and return to full time after two years. DUESSELDORF/MUNICH: German industrial workers will start a fresh wave of walkouts at metals and engineering companies across the… Continue reading German industrial workers to start 24-hour walkouts on Tuesday
Chennai ideally paced, but needs better airport, says Daimler CEO
“I like this city. It has treated me very well,” Marc Llistosella said. “With a population of more than seven million people, Chennai is a pretty big city. But the pace of life is much better than it makes you feel the city is smaller,” hesaid. CHENNAI: Having first come to India in 2006 and… Continue reading Chennai ideally paced, but needs better airport, says Daimler CEO
Electric vehicles maker Tesla denies further Model 3 production issues
The problems included Tesla needing to make some batteries by hand and borrowing scores of employees from one of its suppliers to help with manual assembly, CNBC had said. New Delhi: Tesla is on track to achieve its production targets for the Model 3, the electric car-maker said on Thursday, squashing a report of further… Continue reading Electric vehicles maker Tesla denies further Model 3 production issues
ZF Friedrichshafen picks Mahle CEO as new chief
Scheider is currently the CEO of auto parts supplier Mahle. Automotive supplier ZF Friedrichshafen has picked Wolf-Henning Scheider as its new chief executive, online publication manager-magazin.de reported on Thursday, citing no sources. Scheider will replace Stefan Sommer, who stepped down with immediate effect last month, the online outlet of monthly said. Scheider is currently the… Continue reading ZF Friedrichshafen picks Mahle CEO as new chief
Hyundai Motor posts 3% gain in quarterly profit
This was the first gain in quarterly profit in four years, analysts had been expecting it given a low base for comparison from a year ago. SEOUL: Hyundai Motor eked out a small 3 percent gain in quarterly net profit, but posted a fifth straight drop in annual earnings as a stronger local currency and… Continue reading Hyundai Motor posts 3% gain in quarterly profit
Reinvent or die: Fiat CEO to car companies
Marchionne has witnessed major changes already leading Fiat for almost 14 years, overseeing the combination with Chrysler in 2014 and the 2016 spinoff of Ferrari DETROIT: Sergio Marchionne, one of the longest-serving CEOs in the automotive industry, has a blunt warning: Carmakers have less than a decade to reinvent themselves or risk being commoditised amid… Continue reading Reinvent or die: Fiat CEO to car companies
China has 310 mn registered vehicles, 385 mn drivers in 2017
A total of 53 cities had over one million automobiles while 24 cities had over two million, the state-run Xinhua news agency reported. Beijing: Over 33 million vehicles were newly-registered in China last year, taking to 310 million the total number of automobiles in the country by the end of 2017. Also, 30.54 million new… Continue reading China has 310 mn registered vehicles, 385 mn drivers in 2017