Category: Newswire

Ford’s incoming COO focuses on cost cuts, launches, change

Ford Motor Co’s (F.N) incoming chief operating officer outlined his priorities for the company’s turnaround on Wednesday, including cost cuts and more efficient new-vehicle launches in a year in which it will introduce a redesigned F-150 full-sized pickup truck.Ford also will focus more heavily on advantages in commercial vehicle sales.Ford is restructuring globally and faces slumping demand in China, its second-largest market.

Hyundai Obtains Victory in Court Against Seller and Importer of Non-Genuine Parts

The multi-million dollar judgment stems from Hyundai’s federal trademark lawsuit against DTI, in which Hyundai claimed that DTI was guilty of importing Hyundai-branded service and collision parts intended for sale and use in foreign countries and palming off those parts as if they were Hyundai Genuine Parts sourced through Hyundai’s U.S. authorized chain of distribution.… Continue reading Hyundai Obtains Victory in Court Against Seller and Importer of Non-Genuine Parts

Avtovaz does not plan to change production plans due to coronavirus outbreak

MOSCOW, February 26. /TASS/. Avtovaz has no plans to revise its production plan because of the outbreak of pneumonia in China, caused by the new coronavirus. The crisis response center of the company keeps an eye on the situation, press service of the Russia's largest automaker told TASS on Wednesday.
“The plant does not have such plans at present. The center is assessing potential risks and working out scenarios for their resolution in cooperation with suppliers. We monitor developments and work in line with the schedule,” the press service said.
The company has a sufficient inventory of required components produced in China, Avtovaz said earlier.
Avtovaz is the largest carmaker in Russia, operating as part of the Renault-Nissan-Mitsubishi alliance. Company's sales grew by 1% to 362,356 vehicles in 2019.

Ford recalls over 217,000 F-150 pickup for headlight problem

CHICAGO, Feb. 25 (Xinhua) — U.S. automaker Ford Motor Company on Tuesday issued a safety recall of select Ford F-150 pickup for a headlight problem, affecting over 217,000 vehicles.
According to Ford, the recall covers select 2018-2020 F-150 trucks with LED headlamps.
This action affects 166,196 vehicles in the U.S. and federal territories and 50,989 in Canada.
Affected vehicles were built at Dearborn Truck Plant, Jan. 5, 2017, to Oct. 10, 2019, and Kansas City Assembly Plant, Jan. 25, 2017, to Oct. 10, 2019.
“When the daytime running maps on affected vehicles are illuminated and the master lighting switch is manually rotated from the autolamp position to the headlamp-on (low-beam) position, the daytime running lamps remain activated instead of dimming to the parking lamp intensity,” the company said in a statement.
According to Ford, this may reduce the visibility of other drivers, increasing the risk of a crash.
Ford said it is not aware of any reports of accident or injury, and dea..

Nio, the Tesla of China, surges 35% after confirming talks for $1.4 billion in government funding

One of Tesla’s main competitors in China is a step closer to securing funding for additional plants in the region.Under the preliminary agreement, the Hefei government expects to provide resources and funding support for the long-term growth of Nio in the city, the capital of the Anhui province, according to a press release.Nio will provide additional details in the next two months, Reuters reported.