Mitsubishi Motors Corp on Friday posted a surprise operating loss in the third quarter, its worst quarterly performance in more than three years, hurt by falling sales in China, Japan and South-east Asia, as well as a stronger yen.The carmaker posted an operating loss of 6.6 billion yen (US$60.2 million) for the October-December quarter, missing an average forecast for a profit of 11.6 billion yen.Mitsubishi stuck to an earlier forecast for a 73 per cent drop in full-year operating profit to 30 billion yen in the year to March.
Category: Newswire
Aston Martin seals £500m rescue deal
Embattled Aston Martin has accepted a lifeline from a foreign investor as the luxury car maker struggles under its rising costs and debt load, sending its shares soaring by a quarter.Mr Stroll will join the board and become executive chairman.Aston Martin will also tap existing shareholders for a further £318m as part of a rights issue.
Continental’s Vitesco Gets Contract From Volkswagen-Handelsblatt
Vitesco, the powertrain division of auto supplier Continental, has won a contract to supply drive components for the upcoming models of Volkswagen’s electric ID series, Handelsblatt reported, citing industry sources.The report did not give a volume for the contract.
Karma Debuts New Design Studio At Global Headquarters
The 12,000-square-foot design studio represents a multimillion-dollar investment and underscores Karma’s efforts to enhance and grow its design services. The new studio strengthens the company’s design capabilities as it readies itself for both future Karma design projects and those on behalf of other OEMs and startups. The new business unit is also tasked with offering… Continue reading Karma Debuts New Design Studio At Global Headquarters
Hyundai and Affiliates Post Bumper Sales
Operating profits also rallied after a seven-year decline.Hyundai Mobis’ sales rose 8.2 percent to W38.49 trillion, while Hyundai Motor’s stood at W105.79 trillion and Kia’s at W58.15 trillion.Sales had been stagnant since 2013 but have risen thanks to the popularity of full-size sedans and SUVs.
French car parts maker PSA extending plant closures in China
PARIS, Jan 31 (Reuters) – French car maker PSA Peugeot Citroen said on Friday its three plants in China's Wuhan will remain closed until Feb. 14, in line with the Chinese government's guidance over the coronavirus and the extension of Lunar New Year holidays.
GM confirms return of HUMMER name on all-electric truck to be sold by GMC
HUMMER is coming back … and it’s a shocker in more ways than one.General Motors has confirmed that it is dusting off the decade-dormant brand name for a battery-powered monster truck called the GMC HUMMER EV.The all-electric vehicle will be sold through GMC, rather than a rebooted standalone HUMMER division, and is set to be the most powerful vehicle GM has ever produced.
Dodge Expands Factory-custom Options With 2020 Durango SRT Black and Redline Stripe
Dodge//SRT is giving the 2020 Durango SRT, the fastest, most powerful and most capable American three-row SUV, an even more aggressive look with two new custom appearance options straight from the factory – the Durango SRT Black and the Redline stripe. “The numbers tell the story. As Dodge performance enthusiasts move through the Durango lineup… Continue reading Dodge Expands Factory-custom Options With 2020 Durango SRT Black and Redline Stripe
Bendix, Part of Knorr-Bremse Group, to Acquire R.H. Sheppard from WABCO
BERN, Switzerland, Jan. 30, 2020 (GLOBE NEWSWIRE) — WABCO Holdings Inc. (“WABCO”) (NYSE: WBC) (www.wabco-auto.com), a leading global supplier of technologies and services that improve the safety, efficiency and connectivity of commercial vehicles, today announced it has entered into a definitive agreement to sell R.H. Sheppard Co., Inc. (“Sheppard”) to Bendix Commercial Vehicle Systems LLC… Continue reading Bendix, Part of Knorr-Bremse Group, to Acquire R.H. Sheppard from WABCO
GROUPE RENAULT: RENAULT-NISSAN-MITSUBISHI FURTHER STRENGTHENS THE USE OF RESOURCES AND INVESTMENTS
PRESS STATEMENT – Boulogne-Billancourt, Yokohama, Tokyo, January 30th, 2020 RENAULT-NISSAN-MITSUBISHIFURTHER STRENGTHENS THE USE OF RESOURCES AND INVESTMENTSRenault-Nissan-Mitsubishi today outlined a new framework to further reinforce its business model and strengthen its management structure. All three companies reiterated that the Alliance is essential for strategic growth and enhance competitiveness for each company.The new framework, ratified at… Continue reading GROUPE RENAULT: RENAULT-NISSAN-MITSUBISHI FURTHER STRENGTHENS THE USE OF RESOURCES AND INVESTMENTS