General Motors Co. and Ford Motor Co.’s finance arms likely face multibillion-dollar losses linked to the dramatic drop in used-vehicle prices, JPMorgan Chase & Co. analysts said.
Author: World_Newz Mon
Toyota to Reopen Yaris Car Factory in Test Case for France
Toyota Motor Corp. is poised to restart a factory in northern France on Tuesday, marking the first vehicle plant reopening in the country where the coronavirus pandemic shut most industrial sites last month and some unions have vehemently opposed the return of workers to assembly lines.
Bentley extends UK production shutdown by three weeks over coronavirus
Carmaker Bentley said on Thursday it was extending its plant shutdown by three weeks and would begin limited production on May 11 with full output due to resume a week later, as coronavirus lockdown measures remain in place in Britain.
German carmaker BMW orders 5,000 robots from automation specialist KUKA
BERLIN, April 15 (Xinhua) — German robotics maker KUKA announced on Wednesday that car manufacturer BMW has ordered 5,000 robots for its production lines and factories.
The industrial robots would be used primarily in car body manufacturing at international plants of BMW, according to KUKA.
For more than 40 years, BMW had been using KUKA's automation technology.
“We are delighted by the successful continuation of this partnership,” said Peter Mohnen, chief executive officer (CEO) of KUKA.
For 2020, KUKA is expecting a challenging market environment that would be worsened by the COVID-19 pandemic.
“The pandemic is presenting society and the economy with entirely new challenges,” said Mohnen when presenting the 2019 results in March.
The Chinese MIDEA Group, having completed the takeover of KUKA in 2017, controls 94.55 percent of its shares.
Ford Is Testing Buzzing Wristbands to Keep Workers Apart
A dozen Ford Motor Co. workers are experimenting with wearable social-distancing devices that could be deployed more widely once the carmaker reopens idled manufacturing plants.
Aston Martin extends manufacturing suspensions by a week over coronavirus
LONDON, April 15 (Reuters) – Aston Martin is extending by a week the manufacturing suspensions in place at its two car factories, ahead of the arrival of its crucial first sport utility vehicle, whilst lockdown measures to combat coronavirus continue.
The luxury automaker, which secured fresh investment earlier this year after struggling since a stock market flotation in late 2018, is banking on the DBX model to drive sales in a new segment, appealing more to female buyers.
On March 30, the company said the vehicle was on time for first deliveries to dealers in the summer “dependent on production and supply chains returning as currently anticipated” with its sites then due to open on April 20.
“Considering the current global and local position on suppliers and employees, the business is now extending this temporary suspension until Monday 27 April, subject to ongoing review of the changing circumstances,” it said in a statement on Wednesday.
“The business will look to resume operations..
Parts supplier warns of rough road ahead for China’s car market
…. While supply chain disruptions and parts shortages are an issue, the bigger challenge is the lack of consumer demand, even as the pandemic increases the appeal of using privately owned cars over public…
Carmakers From Audi to Hyundai Begin Rebooting European Plants
Volkswagen AG’s Audi unit, the group’s largest profit contributor, is among automakers gradually reopening factories in Europe, even as coronavirus lockdowns drag on across much of the region.
Hyundai Motor resumes production in Russia amid virus woes
Hyundai Motor Co., South Korea’s biggest carmaker by sales, said Tuesday it has restarted vehicle production at its plant in Russia that was temporarily shut down due to the new coronavirus outbreak.The plant in St. Petersburg.Kia has eight domestic plants and seven overseas ones — three in China and one each in the U.S., Slovakia, Mexico and India.
Hyundai Motor plant in St. Petersburg to resume work
ST. PETERSBURG, April 13. /TASS/. The St. Petersburg-based Hyundai Motor Manufacturing Rus plant will resume production of automobiles from April 13 to 17, the company's press service said on Monday.
The plant suspended its operations from April 6.
“The Russian plant of Hyundai Motor resumes production of automobiles from April 13 to 17, working with a single reduced production shift. The majority of office employees will work remotely. Hence, the minimum required staff will be present at the plant,” the company said.
The Hyundai plant near St. Petersburg opened in 2010 is the second largest automaker in Russia. It produces Hyundai Solaris, Hyundai Creta and Kia Rio models.