Category: News Site

COVID-19 impact: Moody’s downgrades $130 billion worth of automakers debt

The US based rating agency has subsequently lowered the ratings on nine of the 22 global auto manufacturers it rates. New Delhi: The auto industry worldwide has been hit the hardest due to the outbreak of coronavirus and prompted Moody’s Investors Service to place substantially all the ratings across the sector under review for downgrade.… Continue reading COVID-19 impact: Moody’s downgrades $130 billion worth of automakers debt

EVPassport To Offer $39/Month Unlimited EV Charging, Interoperability, More

EVPassport, a new electric vehicle charging app, promises to deliver unlimited EV charging on a variety of different networks for only $39 per month. With the EVPassport app, EV drivers will have access to DC fast chargers across the Electrify America, EVgo, ChargePoint, and Greenlots networks. Since those four networks currently control the loin’s share of… Continue reading EVPassport To Offer $39/Month Unlimited EV Charging, Interoperability, More

Hyundai Motor India sells 21,320 units in June

Hyundai Motor India (HMI) today announced overall sales of 21,320 units in the domestic market in June across India. The company also reported exporting 5,500 units to key markets abroad which include the Middle-East, South Africa and Latin America. While the June 2020 sales numbers are 50 percent lower compared to its sales in June… Continue reading Hyundai Motor India sells 21,320 units in June

After Corona shock: VW stops plans for new plant in Turkey

VW stops plans for new plant in Turkey The controversial construction of a new plant in Turkey was stopped. (Photo: dpa) Istanbul The VWCorporation stops plans to build a new plant in the Turkey. “The background is the slump in global automotive demand caused by the corona crisis,” the company said in Wolfsburg on Wednesday.… Continue reading After Corona shock: VW stops plans for new plant in Turkey

Kia’s June sales fall 12 pct on weak sales overseas

SEOUL, July 1 (Yonhap) — Kia Motors Corp. said Wednesday its sales fell 12 percent last month from a year earlier as the new coronavirus continued to affect the automobile industry. Kia sold 207,406 vehicles in June, down from 235,847 units a year ago, due to sharply reduced overseas demand amid the spread of the… Continue reading Kia’s June sales fall 12 pct on weak sales overseas

GM Korea’s June sales dip 29 pct amid pandemic

SEOUL, July 1 (Yonhap) — GM Korea Co., the South Korean unit of General Motors Co., said Wednesday its sales plunged 29 percent last month from a year earlier amid the new coronavirus pandemic. GM Korea sold 25,983 vehicles in June, down from 36,451 units the previous year, the company said in a statement. Domestic… Continue reading GM Korea’s June sales dip 29 pct amid pandemic

SsangYong’s June sales rise 0.2 pct on domestic demand

SEOUL, July 1 (Yonhap) — SsangYong Motor Co. said Wednesday its sales inched up 0.2 percent last month from a year earlier as robust domestic sales offset weak exports amid the new coronavirus outbreak. SsangYong Motor sold 10,181 vehicles in June, slightly up from 10,159 units a year ago on increased sales of its sport… Continue reading SsangYong’s June sales rise 0.2 pct on domestic demand

VW decides against building plant in Turkey: Automobilwoche

FILE PHOTO: The logo of German car maker Volkswagen is seen on a car outside a garage in Vienna, Austria, Sept. 29, 2016. REUTERS/Leonhard Foeger/File Photo FRANKFURT (Reuters) – Volkswagen (VOWG_p.DE) has decided against building a new factory in Turkey, car industry publication Automobilwoche said on Wednesday, citing sources at the German carmaker. In October… Continue reading VW decides against building plant in Turkey: Automobilwoche

Maruti Suzuki India sells 51,274 units in June, improves on May numbers

Passenger vehicle market leader Maruti Suzuki India has reported improved numbers in June compared to May. It has posted total sales of 51,274 units in the domestic market in June 2020. On a year-on-year basis, the June sales numbers are down 54 percent compared to June 2019 when the car maker clocked sales of 111,014 units. Maruti… Continue reading Maruti Suzuki India sells 51,274 units in June, improves on May numbers