Category: Newswire

Suzuki posts 46 per cent drop in Q1 profit on slowing India demand

Suzuki Motor Corp on Monday reported a 46.2 per cent fall in first-quarter operating profit, hurt by lower output at home as it improves its inspection systems, and falling demand in India, its biggest market.Japan’s fourth-largest automaker posted an operating profit of 62.7 billion yen (S$818.6 million) for the April-June quarter, down from 116.5 billion yen a year earlier and below a mean forecast of 69.09 billion from eight analysts.Slowing profit growth could hamper its ability to invest in and develop lower-emissions vehicles and on-demand transportation services necessary to survive the technological upheaval currently underway in the global auto industry.

GM Korea set to increase imports, reduce local output

By Nam Hyun-woo GM Korea appears to be more interested in bringing more Chevrolet vehicles into the country rather than manufacturing them at its plants.It has applied for membership in the Korea Automobile Importers & Distributors Association (KAIDA).It is also a member of the Korea Automobile Manufacturers Association (KAMA).

Human Horizons unveils first vehicle ready for production

Chinese startup Human Horizons unveiled its first production-ready prototype vehicle, called HiPhi 1, last week in Shanghai, targeting the premium segment of the growing electric car market.It aims to create the ultimate mobility solution composed of smart cities, smart infrastructure and smart vehicles.Human Horizons also launched a pilot smart road program in January this year in Yancheng, Jiangsu province.

BAIC Group thinks beyond carmaking to drive business

China’s BAIC Group is planning to step up efforts in non-vehicle making businesses amid changes in customer preferences about mobility and the downward pressure in the overall automotive market.Despite the drop in sales, the group’s operating revenue increased 6 percent to 246.45 billion yuan.The largest revenue generator of BAIC’s non-vehicle businesses is Beijing Hainachuan Automotive Parts.

GAC Group keeping pace with fast-changing new energy car sector

The new energy vehicle sector is changing at a pace that is faster than most expected, but Guangzhou-based carmaker GAC Group is adapting its efforts in a bid to innovate and lead the way.GAC reached a deal with the Shaoguan government in Guangdong province to establish a test hub focusing on new energy vehicles, intelligent connectivity and autonomous driving sectors in January.When GAC New Energy Automobile launches the Aion LX SUV, it will have a mileage of more than 600 km.

‘Curbing car imports won’t kill competition’

Assemblers of 660-1,000cc cars are lucky in the sense that the market is now getting wide open for them to take advantage of shrinking used car imports.Iconic Suzuki Mehran (800cc) continued to sail smoothly in the presence of imported 660cc used cars like Daihatsu Mira, Daihatsu Move, Nissan Dayz, Nissan Moco, Suzuki Alto, Suzuki Hustler and commercial picks of Daihatsu, Suzuki and Nissan.Some analysts fear that controlling used car imports will strengthen the monopoly of local assemblers that jack up prices multiple times every year citing the exchange rate movement.

Fiat Chrysler CEO: We’ll talk alliances, but we can go it alone

Fiat Chrysler Automobiles Chief Executive has a message for Renault SA and other would-be partners: We are happy to talk, but we can go it alone.The Wall Street Journal reported on Friday that Renault and Nissan are trying again to reshape their alliance and resolve disagreements that helped to derail the merger talks with Fiat Chrysler.Mr Manley has set a goal of 3 per cent operating margins, well short of the 10 per cent margins the company forecast for North America.