Category: Automotive

Uber Vows “Indefinite” Investments In Middle East And Hints At Possible Move For Rival Careem

Ride-hailing firm Uber has promised to invest on “an indefinite basis” in the Middle East and North Africa, following its recent exits from a number of Asian territories. Speaking in an interview with the CNBC television channel, broadcast on April 26, the firm’s chief operating officer Barney Harford said the company planned to “double down… Continue reading Uber Vows “Indefinite” Investments In Middle East And Hints At Possible Move For Rival Careem

Lear Reports Record First Quarter 2018 Results and Increases Full Year Financial Outlook

SOUTHFIELD, Mich., April 26, 2018 /PRNewswire/ — Lear Corporation (NYSE: LEA), a leading global supplier of automotive seating and electrical systems, today reported record results for the first quarter 2018.  Highlights include: Record sales of $5.7 billion, up 15% from a year ago Record net income of $353.7 million and record adjusted net income of $344.5… Continue reading Lear Reports Record First Quarter 2018 Results and Increases Full Year Financial Outlook

Tesla Model 3: Highly innovative, but built with 'dinosaur technology'

Buy Photo Munro & Associates CEO Sandy Munro discusses design flaws he has found with the body of a Tesla Model 3 that was part of a reverse engineering event at Munro & Associates in Auburn Hills on Wednesday April 25, 2018. (Photo: Mandi Wright, Detroit Free Press)Buy Photo The Tesla Model 3 appears to… Continue reading Tesla Model 3: Highly innovative, but built with 'dinosaur technology'

Brabham BT62: 5.4-litre V8-powered hypercar due next week

Brabham Automotive has released a new preview image of its upcoming BT62 hypercar, which is due to be revealed next week. The new picture is of the car’s badge and follows another image that showed the rear LED lights and a large carbonfibre rear wing in darkness. Brabham describes its model as a “low-slung, race-inspired car”. It will cost… Continue reading Brabham BT62: 5.4-litre V8-powered hypercar due next week

Seat shoots its profit up to 51.4% until March due to the positive effect on the sales ‘mix’

Posted 04/26/2018 11: 35: 53CET WOLFSBURG (GERMANY), Apr. 26 (EUROPA PRESS) – Seat achieved an operating profit of 85 million euros in the first quarter of the year, which represents a “strong” increase of 51.4% compared to the 56 million posted in the same period of the previous year. The company, owned by the German… Continue reading Seat shoots its profit up to 51.4% until March due to the positive effect on the sales ‘mix’

(2nd LD) Hyundai Q1 net plunges 48 pct on strong won, weak sales

(ATTN: ADDS analyst comment and stock price in paras 5-8) By Choi Kyong-ae SEOUL, April 26 (Yonhap) — Hyundai Motor Co., South Korea’s biggest carmaker by sales, said Thursday its first-quarter net profit plunged 48 percent on the strong won and weak sales in two major markets. In an earnings shock, net profit for the… Continue reading (2nd LD) Hyundai Q1 net plunges 48 pct on strong won, weak sales

(LEAD) Hyundai Mobis Q1 net falls 39 pct on strong won, weak demand

(ATTN: ADDS details in paras 3-4) SEOUL, April 26 (Yonhap) — Hyundai Mobis Co., South Korea’s biggest auto parts maker by sales, said Thursday its first-quarter net profit fell 39 percent on the strong won and sluggish demand in China. Net profit fell to 465.9 billion won (US$431 million) in the January-March quarter from 761.9… Continue reading (LEAD) Hyundai Mobis Q1 net falls 39 pct on strong won, weak demand

Hyundai Mobis Q1 net falls 39 pct on weak demand

SEOUL, April 26 (Yonhap) — Hyundai Mobis Co., South Korea’s biggest auto parts maker by sales, said Thursday its first-quarter net profit fell 39 percent as demand from major clients remained weak. Net profit fell to 465.9 billion won (US$431 million) in the January-March quarter from 761.9 billion won a year earlier, the company said… Continue reading Hyundai Mobis Q1 net falls 39 pct on weak demand

Hyundai Mobis outlines growth plans in line with group’s streamlining

SEOUL, April 26 (Yonhap) — Hyundai Mobis Co., South Korea’s biggest auto parts maker by sales, on Thursday outlined its growth plans in line with its parent Hyundai Motor Group’s broad governance restructuring program. The move comes after Hyundai Motor Group announced last month that auto parts supplier Hyundai Mobis will spin off its domestic… Continue reading Hyundai Mobis outlines growth plans in line with group’s streamlining