Volvo Cars Korea said Tuesday it aims to sell 12,000 vehicles this year on higher demand for its SUVs.Volvo had a stellar performance compared with its bigger rivals, including BMW, Volkswagen and Toyota Motors Corp..
Author: World_Newz Mon
Topsun Motors inaugurated in Pakistan
LAHORE-Provincial Housing Minister Mian Mehmood-ur-Rasheed has said that Pakistan is progressing rapidly with the cooperation of China, while Chinese companies are taking keen interest for investment in the country.PTI leader Aijaz Chaudhry , Topsun Motors MD Malik Riaz, Shafiq Chaudhry, Malik Ahsaan Langrial, Abdul Waheed Butt, Malik Abdul Razzaq,Malik Fiaz, Malik Nawaz, Malik Shahbaz, Malik Aiaz and Amir Salim were also present on the occasion.The minister praised the private sector for playing key role in the development of Pakistan.
Former Nissan Executive’s Home Raided While Interpol Issues Arrest Warrant
Japanese prosecutors raided the Tokyo home of former Nissan Chairman Carlos Ghosn Thursday while the international police organization Interpol submitted a warrant for his arrest to Lebanese authorities.Japanese media reported earlier that there were no official records in Japan of Ghosn’s departure and that a private jet departed from a regional airport to Turkey.Turkey’s state-run Anadolu News Agency reported Thursday that authorities investigating Ghosn’s travels from Japan to Istanbul had arrested seven people, including four pilots, a cargo company manager and two airport employees.
MG Hector retail sales at 3,021 units in December 2019
MG (Morris Garages) Motor India has recorded retail sales of 3,021 units of the Hector in December 2019.MG Hector features a chrome accent surrounded front grille, split LED headlamps, LED DRLs, LED fog lamps, LED tail lamps, LED fog lamps, dualtone machined alloys, shark fin antenna and heated ORVM.MG Motor India is all set to launch the ZS electric vehicle this month.
NIO CEO pledges to improve finances as Tesla challenge looms
THE head of NIO Inc pledged an improvement in the struggling Chinese electric carmaker’s finances as demand picks up and the company’s cost-cutting efforts start to bear fruit.China’s electric car market is slowing as the government reduces subsidies, and competition is getting tougher with Tesla preparing to start deliveries of its China-built Model 3 sedans.Yet losses will probably continue to mount: for 2020, the average loss estimate is US$1.2 billion on revenue of US$1.7 billion.
NIO Has Smaller Loss Than Estimated on EV Sales; Shares Soar
NIO Inc. reported a narrower third-quarter loss than analysts estimated as demand for electric cars picked up, yet the struggling Chinese manufacturer remains far from profitability amid high costs. The stock soared.
Maruti Suzuki Vitara Brezza facelift spied sans camouflage
Maruti Suzuki Vitara Brezza has been a crowd favourite ever since its launch in India in March 2016 and the sales numbers achieved by the vehicle vehemently back the claim.The front fascia of Maruti Suzuki Vitara Brezza facelift has been tweaked and gets a new grille flanked by refurbished projector headlamps with LED DRLs.The major change is expected to come under the hood of Maruti Suzuki Vitara Brezza facelift.
China fines Toyota 87.6m yuan over Lexus price-fixing
CHINA’S market regulator on Friday has fined Japanese carmaker Toyota Motor 87.6 million yuan (S$16.9 million) for price-fixing on its premium Lexus cars in eastern Jiangsu province.Lexus also fixed sales strategies in the region over the period, including offering customers discounts while asking them to purchase accessories at fixed prices, a sales tactic usual among individual auto dealers in China but frowned upon for carmakers.China’s car sales are declining, but Lexus’ sales keep growing.
People-moving tunnel to open in Las Vegas: Musk
A TUNNEL in Las Vegas that is nearly 1.5 km long and meant to showcase a “traffic busting” alternative for overcrowded cities should be completed next year, innovative entrepreneur Elon Musk said on Twitter.The Las Vegas convention centre is a sprawling complex being further enlarged – the 1.3 km tunnel would facilitate travel within the center and to the city’s famous Strip, where many of its major hotels and casinos are located.Las Vegas officials selected The Boring Company in March to design, build and manage twin tunnels capable of transporting passengers in small, autonomous vehicles, each holding eight to 16 passengers.
Turkey debuts home-made electric car
Turkey unveiled its first fully domestically-produced car on Friday (27 December), saying it aimed to eventually produce up to 175,000 a year of the electric vehicle in a project expected to cost 22 billion lira (€3.3 billion) over 13 years.The consortium, called Turkey’s Automobile Initiative Group (TOGG), was established in mid 2018 by five industrial groups: Anadolu Group, BMC, Kok Group, mobile phone operator Turkcell and Zorlu Holding, the parent of TV maker Vestel.TOGG’s CEO is former Bosch executive Gurcan Karakas and its chief operating officer is Sergio Rocha, former General Motors Korea chief executive. More sourcesTurkey unveils first fully home-made car (The Business Times: Dec 30, 2019 at 12:00 AM)