A federal program to issue rebates to consumers toward new vehicles could provide a much-needed jolt to the U.S. auto industry that’s seen plants idled and showrooms emptied by the coronavirus, according to the Obama administration official who oversaw the program known as “cash for clunkers.”
Category: Newswire
Kia Seltos crosses 81,000 units cumulative sales mark in India since launch
Ever since its launch in India in August 2019, Kia Seltos has been the most popular SUV here.The SUV is BS6-compliant right from the time it was introduced in India and has three engine options in the form of 1.4-litre Turbo GDI petrol (140PS and 242Nm), 1.5-litre petrol (115PS and 144Nm) and 1.5-litre VGT diesel (115PS and 250Nm).The automatic transmissions available are 7-speed DCT (1.4-litre Turbo GDI petrol), IVT (1.5-litre petrol) and 6-speed AT (1.5-litre VGT diesel).
Kongberg Automotive Press Release – Business Update April 3, 2020
Fri, Apr 03, 2020 07:00 CET Please find a press release with a business update attached. Kongsberg Automotive provides world class products to the global vehicle industry. Our products enhance the driving experience, making it safer, more comfortable and sustainable. With revenues of approx. EUR 1.1 billion and approximately 11.000 employees in 19 countries, Kongsberg… Continue reading Kongberg Automotive Press Release – Business Update April 3, 2020
Audi Hungaria plant extends shutdown
German carmaker Audi will extend the shutdown at its base in Győr (123 km west of Budapest) by another two weeks until April 19, Audi Hungaria’s spokesperson told Hungarian news agency MTI.As the Budapest Business Journal reported earlier, Audi Hungaria shut down its plant on March 23.Parent company Volkswagen also stopped production at most of its bases, affecting Audi AG plants in Ingolstadt, Neckarsulm, Brussels, and Mexico, as well as the one in Győr.
Cummins Takes Actions in Response to COVID-19 Impact
COLUMBUS, Ind.–(BUSINESS WIRE)–Today, Cummins Inc. (NYSE: CMI) provided an update on the actions it is taking in response to the impact of COVID-19. “The impact from the pandemic on the global economy has been sudden and is growing, and it is imperative for us to respond quickly to maintain our strong financial position,” said Tom… Continue reading Cummins Takes Actions in Response to COVID-19 Impact
Ferrari N.V.: Termination of the third tranche of the disclosed multi-year share repurchase program
Maranello (Italy), 01 April 2020 – Ferrari N.V. (NYSE/MTA: RACE) (“Ferrari” or the “Company”) announces that under the third tranche of the common share buyback program announced on 14 November 2019 (“Third Tranche”), the Company has purchased additional common shares – reported in aggregate form, on a daily basis – on the Italian Stock Exchange… Continue reading Ferrari N.V.: Termination of the third tranche of the disclosed multi-year share repurchase program
Toyoda Gosei to Restructure Production Subsidiaries in India for “TG One India”
KIYOSU, Japan–(BUSINESS WIRE)–Toyoda Gosei Co., Ltd. (TOKYO: 7282) will restructure its production subsidiaries in India to optimize its production network in that country. The company will transfer its all shares in Toyoda Gosei South India Pvt. Ltd. (TGSIN) to Toyoda Gosei Minda India Pvt. Ltd. (TGMIN) in 2020. TGSIN supplies interiors and exteriors and other… Continue reading Toyoda Gosei to Restructure Production Subsidiaries in India for “TG One India”
Veoneer and Volvo Cars to Split Joint Venture to Pursue Separate ADAS and Autonomous Driving Strategies
STOCKHOLM, Sweden, April 2 , 2020 /PRNewswire/ — The automotive technology company Veoneer, Inc. (NYSE: VNE and SSE: VNE SDB), have following a strategic review, entered into a non-binding agreement with Volvo Cars to split their 50/50 joint venture Zenuity. The parties have agreed in principle that Veoneer will integrate and operate the current… Continue reading Veoneer and Volvo Cars to Split Joint Venture to Pursue Separate ADAS and Autonomous Driving Strategies
Nidec to acquire the Delta production line from Secop Austria
KYOTO, Japan, April 01, 2020 (GLOBE NEWSWIRE) — Nidec Corporation (TSE: 6594; OTC US: NJDCY) (the “Company” or “Nidec”) announced today that the Company has signed a definitive agreement with Secop Austria GmbH (“Secop”) on March 31, 2020, by which Nidec will acquire the Delta production line from Secop (“the Transaction”) through the Company’s sub-subsidiary… Continue reading Nidec to acquire the Delta production line from Secop Austria
Vietnam-based Hyundai, Honda plants close amid nationwide lockdown
Vietnam-based Hyundai (KS:005380) assembler TC Motor and Honda (T:7267) Vietnam have shut down their plants for two weeks amid a nationwide social distancing campaign to curb the spread of the coronavirus, the companies said on Wednesday.