Mitsubishi Motors Corp on Friday posted a surprise operating loss in the third quarter, its worst quarterly performance in more than three years, hurt by falling sales in China, Japan and South-east Asia, as well as a stronger yen.The carmaker posted an operating loss of 6.6 billion yen (US$60.2 million) for the October-December quarter, missing an average forecast for a profit of 11.6 billion yen.Mitsubishi stuck to an earlier forecast for a 73 per cent drop in full-year operating profit to 30 billion yen in the year to March.
Author: World_Newz Mon
Aston Martin seals £500m rescue deal
Embattled Aston Martin has accepted a lifeline from a foreign investor as the luxury car maker struggles under its rising costs and debt load, sending its shares soaring by a quarter.Mr Stroll will join the board and become executive chairman.Aston Martin will also tap existing shareholders for a further £318m as part of a rights issue.
Continental’s Vitesco Gets Contract From Volkswagen-Handelsblatt
Vitesco, the powertrain division of auto supplier Continental, has won a contract to supply drive components for the upcoming models of Volkswagen’s electric ID series, Handelsblatt reported, citing industry sources.The report did not give a volume for the contract.
Hyundai and Affiliates Post Bumper Sales
Operating profits also rallied after a seven-year decline.Hyundai Mobis’ sales rose 8.2 percent to W38.49 trillion, while Hyundai Motor’s stood at W105.79 trillion and Kia’s at W58.15 trillion.Sales had been stagnant since 2013 but have risen thanks to the popularity of full-size sedans and SUVs.
French car parts maker PSA extending plant closures in China
PARIS, Jan 31 (Reuters) – French car maker PSA Peugeot Citroen said on Friday its three plants in China's Wuhan will remain closed until Feb. 14, in line with the Chinese government's guidance over the coronavirus and the extension of Lunar New Year holidays.
GM confirms return of HUMMER name on all-electric truck to be sold by GMC
HUMMER is coming back … and it’s a shocker in more ways than one.General Motors has confirmed that it is dusting off the decade-dormant brand name for a battery-powered monster truck called the GMC HUMMER EV.The all-electric vehicle will be sold through GMC, rather than a rebooted standalone HUMMER division, and is set to be the most powerful vehicle GM has ever produced.
Hyundai rolls out yet another made-in-India car for export
In March 2008, it exported its 500,000th car, followed by its 1,000,000th car and 2,000,000th car in February 2010 and March 2014 respectively.In the calendar year 2019, Hyundai Motor India Ltd has exported 1,81,200 units with 792 customized variants according to country-specific preferences and demand.With a market share of 26% in the calender year 2019, the total exports of passenger cars from India has made Hyundai a significant contributor to the Indian automobile industry.
Luca De Meo Faces Uphill Struggle To Fix Renault And The Alliance, But After 6-Month Rest
New CEO Luca de Meo has taken on a demanding job at Renault as its share price slumps, profits slide, and the alliance with Nissan stumbles towards divorce, while the French government has what amounts to a veto over big strategic decisions.
TVR frustration over Ebbw Vale factory renovation delays
The Welsh Government owns a 3% stake in TVR and it gave the company a £2m loan which is repayable if the company does not move to Wales.
Chinese Automaker NIO Is Relying On Supplier Tesla Clashed With
A troubled electric-vehicle upstart trying to take on Tesla Inc. is clinging to a supplier Elon Musk clashed with dramatically in 2016.