Category: Newswire

Ferrari N.V.: Completion of the second tranche of the disclosed multi-year share repurchase program and announcement of the third tranche

Maranello (Italy), 14 November 2019 – Ferrari N.V. (NYSE/MTA: RACE) (“Ferrari” or the “Company”) announces that under the multi-year common share repurchase program announced on 28 December 2018 (the “Program”), the Company has purchased additional common shares in respect of the second tranche of the Program – reported in aggregate form, on a daily basis… Continue reading Ferrari N.V.: Completion of the second tranche of the disclosed multi-year share repurchase program and announcement of the third tranche

Daimler cuts costs and sets course for the future

Daimler today presented a new sustainable business strategy at its Capital Market Day. With a clear commitment to CO2-neutral mobility, the company is setting its course for a successful future. “We are positioning the company for the transformation with a clear strategy for the future. The expenditure needed to achieve the CO2 targets require comprehensive… Continue reading Daimler cuts costs and sets course for the future

Avtovaz begins selling Lada Granta cars of local assembly in Egypt

MOSCOW, November 13. /TASS/. Avtovaz launched sales of cars of the new Lada Granta family of local assembly in Egypt, the company said on Wednesday.
Sales started on November 12 in Cairo. Cars are manufactured at the Al Amal factory.
Managing Director of Lada Export Max Missana said that with the release of a new model Avtovaz expects to strengthen the brand's position in Egypt.
It was reported earlier that Avtovaz sales on the Russian market increased by 1.5% year-on-year to 295,437 cars in January – October 2019. “295,437 Lada cars and light commercial vehicles were sold in Russia as of the end of 10 months 2019, up 1.5% against the like period of 2018,” the company said.
Car sales in October declined by 5.5%, the carmaker reports. 30,240 Lada cars were sold.
The market share of Lada in the segment of cars and light commercial market is about 21% as of the end of 10 months 2019, according to the company's estimate.
Avtovaz is the largest producer of cars in Russia. The Avto..

Navistar Impacted By UAW’S Strike At General Motors

LISLE, Ill., Nov. 13, 2019 /PRNewswire/ — Navistar International Corporation (NYSE: NAV) today announced that the six-week strike of the United Auto Workers (UAW) union at General Motors Corporation (GM) impacted the company’s ability to deliver approximately 5,000 vehicles to customers during the company’s fiscal fourth quarter of 2019. Due to Navistar’s lost production, the… Continue reading Navistar Impacted By UAW’S Strike At General Motors

Electric-Car Maker Xpeng Raises $400 Million

Chinese electric-vehicle startup Guangzhou Xiaopeng Motors Technology Co. Ltd. said Wednesday it secured $400 million in its latest fundraising round.This Series C round brings the total funds raised by the carmaker to 12 billion yuan ($1.7 billion).Xpeng’s latest fundraising haul may have fallen below its expectations.

Martinrea International Inc. Reports Record Third Quarter Results and Declares Dividend

TORONTO, Nov. 12, 2019 (GLOBE NEWSWIRE) — Martinrea International Inc. (TSX : MRE), a diversified and global automotive supplier engaged in the design, development and manufacturing of highly engineered, value-added Lightweight Structures and Propulsion Systems, today announced the release of its financial results for the third quarter ended September 30, 2019 and that it has… Continue reading Martinrea International Inc. Reports Record Third Quarter Results and Declares Dividend