Author: World_Newz Mon

‘Do or die’: Nissan takes the axe to the house Ghosn built

Nissan is planning aggressive cost cuts to deal with an unexpected slump in sales as the expansionist strategy it inherited from fugitive former Chairman Carlos Ghosn flounders.Now, many of those models are missing sales goals and executives at Nissan’s Yokohama headquarters estimate up to 40% of its global manufacturing capacity is unused, or under-used.Nissan is aiming to achieve an operating margin of 6% on revenue of 14.5 trillion yen by March 2023, compared with 3.0% from 13.0 trillion forecast for the year ending in March 2020. More sourcesDo or die: Nissan takes the axe to the house Ghosn built (Reuters: Jan 28, 2020 at 9:30 PM)

Renault says will reopen Wuhan plant with partner Dongfeng on Feb. 10

LONDON, Jan 28 (Reuters) – Renault will resume production at the factory it runs with Dongfeng Group in Wuhan, Hubei province and the epicentre of the outbreak of a new flu-like virus, on Feb. 10, a spokeswoman for the French carmaker said on Tuesday.
The reopening of the plant will be eight days after the end of the extended Lunar New Year holiday in China, the world's top car market.

Ford to pay $30M-plus for lawsuit over transmissions

Ford will pay at least $30 million in a proposed settlement over a class-action lawsuit related to failing transmissions in its Fiesta and Focus vehicles.The lawsuit represents nearly 2 million owners and former owners of the cars, which had bad dual-clutch transmissions, the Detroit Free Press reported, citing court documents.The case was filed in 2012.

Suzuki Motor Corp says must respond to Dutch emissions probe by mid-Feb

TOKYO, Jan 24 (Reuters) – Japan's Suzuki Motor Corp is co-operating with the Dutch authorities over their findings its diesel vehicles had broken the country's emissions rules, and it is required to respond to the investigation by mid-February, it said on Friday.
The Dutch road authority ruled on Thursday that Suzuki's Vitara and Fiat Chrysler's Jeep Grand Cherokee diesel models broke emissions rules and must be fixed or face a ban on sales across Europe.
In a statement, Suzuki said diesel versions of its Vitara and S-Cross vehicles used engines and emissions software supplied by Fiat Chrysler.
The Dutch authorities said the vehicles in question, which are no longer in production, showed emissions levels higher than allowed following a software update in 2017, Suzuki said.
Earlier this week, the German authorities said they were investigating Mitsubishi Motors Corp for suspected use of illegal, emissions defeat devices installed in its diesel engines.
More sourcesS..

Canadian judge approves C$196.5 mln Volkswagen fine for diesel emissions

Jan 22 (Reuters) – A judge in Canada approved a $196.5 million (CAD) ($149.5 million) fine against Volkswagen AG on Wednesday after the company pleaded guilty to dozens of counts of diesel emissions violations.
Volkswagen was charged in December with importing nearly 128,000 vehicles into Canada violating emissions standards. VW pleaded guilty after being charged with 60 counts of breaching the Canadian Environmental Protection Act and providing misleading information.
Canadian news outlets said the fine was the largest environmental penalty in Canadian history.
Prosecutors had proposed the fine to resolve the issue earlier on Wednesday.
“The resolution acknowledges the extensive measures by Volkswagen to make things right in Canada and strengthen its global compliance policies. The payment from the company will be used to support environmental projects nationally and in the provinces across the country,” Volkswagen said in a statement.
Volkswagen admitted to using illegal software to ..