MILAN/PARIS (Reuters) – Fiat Chrysler (FCHA.MI) and Peugeot owner PSA (PEUP.PA) plan to join forces through a 50-50 share swap to create the world’s fourth-largest automaker, they said on Thursday, triggering a new wave of consolidation in the car industry. Logos of Peugeot and Fiat are seen in this illustration picture taken October 30, 2019.… Continue reading UPDATE 2-Fiat Chrysler and Peugeot plan to create world’s No.4 carmaker
Category: Automotive
Groupe PSA and FCA plan to join forces to build a world leader for a new era in sustainable mobility
RUEIL-MALMAISON, France and LONDON, Oct. 31, 2019 /PRNewswire/ — The combination would create the 4th largest global OEM in terms of annual unit sales (8.7m vehicles) At its inception, the combined company would realize among the highest margins in the markets where it would operate, based on FCA’s strength in North America and Latin America and… Continue reading Groupe PSA and FCA plan to join forces to build a world leader for a new era in sustainable mobility
China’s auto market could shrink about 8% this year: industry official
BEIJING/SINGAPORE (Reuters) – Auto sales in China may skid to 26 million this year, a drop of around 8%, a senior industry executive warned, as the world’s largest auto market braces for a second year of contraction amid slowing economic growth and tighter vehicle emissions standards. FILE PHOTO: Cars for export wait to be loaded… Continue reading China’s auto market could shrink about 8% this year: industry official
Fiat Chrysler-PSA must keep French industrial footprint: France’s Le Maire
PARIS (Reuters) – France welcomed a planned merger between Italy’s Fiat Chrysler (FCHA.MI) and French Peugeot maker PSA (PEUP.PA), but would be vigilant about the firm’s French industrial footprint and about maintaining its decision centers, French Finance Minister Bruno Le Maire said in a statement on Thursday. Le Maire also said that he would hold… Continue reading Fiat Chrysler-PSA must keep French industrial footprint: France’s Le Maire
Statement on UAW-Ford Negotiations
About Ford Motor Company Ford Motor Company is a global company based in Dearborn, Michigan. The company designs, manufactures, markets and services a full line of Ford cars, trucks, SUVs, electrified vehicles and Lincoln luxury vehicles, provides financial services through Ford Motor Credit Company and is pursuing leadership positions in electrification, autonomous vehicles and mobility… Continue reading Statement on UAW-Ford Negotiations
UPDATE 1-Ford reaches tentative labor deal with United Auto Workers union
FILE PHOTO: 2020 Ford Explorer cars are seen at Ford’s Chicago Assembly Plant in Chicago, Illinois, U.S. June 24, 2019. REUTERS/Kamil Krzaczynski DETROIT (Reuters) – Ford Motor and the United Auto Workers union on Wednesday announced a tentative agreement for a new labor deal, allowing the No. 2 U.S. automaker to avoid a strike like… Continue reading UPDATE 1-Ford reaches tentative labor deal with United Auto Workers union
Lyft Announces Record Third Quarter Results
Third quarter revenue grew to $956 million, up 63% year-over-yearRaising outlook for fiscal 2019 SAN FRANCISCO, Oct. 30, 2019 (GLOBE NEWSWIRE) — Lyft, Inc. (Nasdaq:LYFT) today announced financial results for its third quarter ended September 30, 2019. “Our third quarter results demonstrated the significant progress Lyft has made on our path to profitability. Record revenue… Continue reading Lyft Announces Record Third Quarter Results
Honda to stop producing gasoline-only vehicles in Europe by 2022 – Sky News
By Ganesh Rao, business reporter Honda has announced plans to stop producing gasoline-only cars by 2022. The carmaker said it will “electrify” all of its models sold in Europe within the next three years – which includes making many models hybrid. Hybrid vehicles carry a traditional internal combustion engine as well as a battery pack.… Continue reading Honda to stop producing gasoline-only vehicles in Europe by 2022 – Sky News
Ford shutters oldest Brazil plant as revival bid faces doubts
FILE PHOTO: The Ford logo is seen at the Ford oldest Brazil plant in Sao Bernardo do Campo, Brazil September 3, 2019. REUTERS/Rahel Patrasso SAO PAULO (Reuters) – Ford Motor Co (F.N) on Wednesday said it was shutting down its oldest plant in Brazil later in the day as planned, with prospects for saving any… Continue reading Ford shutters oldest Brazil plant as revival bid faces doubts
Elon Musk says shifting SolarCity workers helped Tesla stay afloat
Jef Feeley and Dana Hull, Bloomberg Published 9:45 a.m. ET Oct. 30, 2019 | Updated 9:54 a.m. ET Oct. 30, 2019 Tesla Inc. chief executive officer Elon Musk said he shifted resources from the solar company he bought three years ago to save his electric-car company from bankruptcy while it was ramping up production of… Continue reading Elon Musk says shifting SolarCity workers helped Tesla stay afloat