Late in May, John Elkann was back in Paris. The city had become a frequent destination for the scion of the Italian Fiat clan as he worked to get a combination with Renault SA over the line. But days before announcing the deal, Elkann walked into the apartment in the affluent 16th district of an unusual dinner companion: Robert Peugeot, a descendant of the namesake carmaker and Renault arch rival.
Category: Newswire
Nidec and GAC Components Complete Establishment of Joint Venture for Automotive Traction Motors
KYOTO, Japan, Nov. 01, 2019 (GLOBE NEWSWIRE) — As announced on August 1, 2019, Nidec Corporation (TSE: 6594; OTC US: NJDCY) (“Nidec”) and GAC Components Co., Ltd. have completed establishment of the joint venture that develops, manufactures and sells automotive traction motors. Profile of the joint venture is as follows.1. Profile of the Joint Venture:*The… Continue reading Nidec and GAC Components Complete Establishment of Joint Venture for Automotive Traction Motors
Mitsubishi Motors Reports October 2019 Sales
MMNA has now surpassed 100,000 sales for three straight years and is on pace for a seventh consecutive year of annual sales growth. 2019 remains Mitsubishi’s best calendar year-to-date sales since 2007. October sales of Mirage, the most fuel-efficient non-hybrid vehicle sold in America2, were up 23.4% year-over-year, and year-to-date sales are up 10.8%, continuing… Continue reading Mitsubishi Motors Reports October 2019 Sales
Genesis Announces Record October Sales
“The positive sales momentum of the G70, G80 and G90 is a reflection of our efforts to bring attention to the Genesis brand,” said Mark Del Rosso, Chief Executive Officer, Genesis Motor North America. “In the coming months, we will sharpen our focus even further, as we plan to add new models to the Genesis… Continue reading Genesis Announces Record October Sales
Toyota Motor North America Reports October 2019 Sales
PLANO, Texas, Nov. 1, 2019 /PRNewswire/ — Toyota Motor North America (TMNA) today reported October 2019 sales of 188,787 vehicles, a decrease of 1.2 percent on a volume basis and down 4.9 percent on a daily selling rate (DSR) basis versus October 2018. Toyota division posted October sales of 165,644 units, down 1.6 percent on… Continue reading Toyota Motor North America Reports October 2019 Sales
DENSO Reinforces Commitment to Sustainable Mobility in Company Direction Update
KARIYA, Japan, Nov. 1, 2019 /PRNewswire/ — DENSO, the world’s second largest mobility supplier, today announced its second quarter (July-September) financial results for its fiscal year 2019, as well as updates in its business strategy to create and inspire new value for the future of mobility. As part of this strategy, or its ‘Second Founding,’ DENSO continues… Continue reading DENSO Reinforces Commitment to Sustainable Mobility in Company Direction Update
New FCA Manufacturing Site in Detroit Represents Company’s Commitment to Sustainable Operations
AUBURN HILLS, Mich., Nov. 1, 2019 /PRNewswire/ — Facility will have lowest emissions rate of any auto assembly plant in the United States Company to voluntarily conduct additional air monitoring and public reporting Environmental responsibility initiatives extend beyond FCA and into the neighborhood The future home of two electrified Jeep® vehicles will also be home to… Continue reading New FCA Manufacturing Site in Detroit Represents Company’s Commitment to Sustainable Operations
Hyundai Motor America Reports October 2019 Sales
FOUNTAIN VALLEY, Calif., Nov. 1, 2019 /PRNewswire/ — Hyundai Motor America reported October sales of 57,094 units, an 8% increase in comparison with October 2018. The October sales result is the 14th time in the last 15 months with increasing overall Hyundai vehicle sales. Sales Summary Oct-19 Oct-18 2019 YTD 2018 YTD Hyundai 57,094 52,653 563,450… Continue reading Hyundai Motor America Reports October 2019 Sales
Mazda braces for 30% FY profit drop on falling car sales in US, China: Nikkei
Mazda Motor Corp is facing a drop in annual profit of about 30 per cent as the Japanese automaker struggles with falling sales in the United States and China, its biggest markets, the Nikkei newspaper reported on Friday.The updated forecast would be almost half the automaker’s previous profit forecast of 110 billion yen.Demand for Mazda vehicles including the Mazda3 sedan and the CX-5 SUV crossover has slumped since the company posted record annual sales of about 1.6 million vehicles in the 2018 financial year.
Investors Know Who the Buyer Is in Fiat-Peugeot Merger of Equals
Fiat Chrysler Automobiles NV and PSA Group went out of their way to make their combination as equal as possible, shedding assets, paying special dividends and distributing board seats. It didn’t take long for investors to figure out who the buyer is.