SsangYong Motor Co. on Friday said its net losses widened in the fourth quarter from a year earlier due to lower demand.Sales fell 13 percent to 919.2 billion won from 1.05 trillion won over the same period.Operating losses widened to 281.9 billion won from 64.2 billion won, while sales fell 2.2 percent to 3.62 trillion won from 3.7 trillion won.
Category: Newswire
Lear Increases Share Repurchase Authorization to $1.5 Billion and Raises Quarterly Cash Dividend to $0.77 Per Share
SOUTHFIELD, Mich., Feb. 6, 2020 /PRNewswire/ — Lear Corporation (NYSE: LEA), a global automotive technology leader in Seating and E-Systems, today announced that its Board of Directors has authorized an increase in the Company’s share repurchase authorization to $1.5 billion and extended the authorization period to December 31, 2022. The Board also authorized the Company’s… Continue reading Lear Increases Share Repurchase Authorization to $1.5 Billion and Raises Quarterly Cash Dividend to $0.77 Per Share
Lucid Motors Showcases Key Design Elements of the Lucid Air in New Video
The video shares the name of the Lucid Air’s launch edition, as well as several key design elements. Designated the “Dream Edition,” launch versions of the Lucid Air will be available in three colors, including a special color only available on Dream Edition cars. A hint of that color is shown in the video along with… Continue reading Lucid Motors Showcases Key Design Elements of the Lucid Air in New Video
Fisker Ocean at Geneva International Motor Show 2020: Award-Sweeping All-Electric Luxury SUV to Make European Debut
Production is projected to begin in Q4 2021, with high-volume deliveries of the Fisker Ocean targeted to ramp up in 2022. Global and localized supply chains secured across the U.S., Europe and China will result in more than 1 million vehicles projected to be produced between 2022 and 2027. Henrik Fisker, chairman and CEO –… Continue reading Fisker Ocean at Geneva International Motor Show 2020: Award-Sweeping All-Electric Luxury SUV to Make European Debut
FCA UAW-Represented Employees to Receive 2019 Profit Sharing Payments
AUBURN HILLS, Mich., Feb. 6, 2020 /PRNewswire/ — Payment recognizes hourly employees’ contributions to the Company Total U.S. investment grows to more than $14 billion since 2009, with nearly 30,000 jobs created to date Based on the Company’s 2019 financial performance, FCA US LLC announced today that the eligible profit sharing amount of $7,280 will… Continue reading FCA UAW-Represented Employees to Receive 2019 Profit Sharing Payments
Kia Motors in talks over moving $1.1 billion plant out of Andhra Pradesh: Report
South Korea’s Kia Motors is discussing with Tamil Nadu the possibility of moving a $1.1 billion plant out of neighbouring Andhra Pradesh only months after it fully opened, due to policy changes last year, sources close to the talks told Reuters.Kia is being represented in the talks by executives at its sister company Hyundai Motor Co, which is India’s second-largest automaker and has all its car production facilities in Tamil Nadu.The Tamil Nadu and Andhra Pradesh chief minister’s offices did not respond to requests for comment.
Kia in talks over moving $1.1 bln plant to another Indian state
* Kia fully opened $1.1 billion India plant in December
* Carmaker concerned by policy tweaks -sources
* Kia looks at moving plant to nearby state -govt source
NEW DELHI, Feb 5 (Reuters) – South Korea's Kia Motors is discussing with the Indian state of Tamil Nadu the possibility of moving a $1.1 billion plant out of neighbouring Andhra Pradesh only months after it fully opened, due to policy changes last year, sources close to the talks told Reuters.
Kia inaugurated the Andhra plant, its first in the world's fifth-largest car market, in December after two years of construction. It has an annual capacity of some 300,000 units and created 12,000 direct and indirect jobs.
However, Kia is now in talks with the nearby state of Tamil Nadu, home to many major autoparts suppliers, about potentially relocating the plant, a senior state government official and a second source familiar with the discussions said.
“(Kia) are facing problems (in Andhra Pradesh), they have been in prelimina..
Henniges Automotive Celebrates Grand Opening of New European Headquarters
AUBURN HILLS, Mich., Feb. 5, 2020 /PRNewswire/ — Henniges Automotive, a leading global supplier of highly engineered sealing and anti-vibration systems for the automotive market, today commemorated the grand opening of its new European Headquarters and Technical Center in the Czech Republic with a ceremony and tour for customers and dignitaries. The 35,800 square-foot (3,330 square-meter)… Continue reading Henniges Automotive Celebrates Grand Opening of New European Headquarters
VinSolutions Reveals New Capabilities to Better Personalize the Consumer Journey by Unlocking Data Potential
MISSION, Kan., Feb. 5, 2020 /PRNewswire/ — VinSolutions is introducing new personalization capabilities at NADA 2020 that will help dealers unlock data potential to help win customers and drive brand loyalty like never before. As technology adoption increases across industries and generations, consumers have developed a taste for personalization. The car buying journey is no exception,… Continue reading VinSolutions Reveals New Capabilities to Better Personalize the Consumer Journey by Unlocking Data Potential
Veoneer: Financial Report October – December 2019
STOCKHOLM, Feb. 5, 2020 /PRNewswire/ — Financial Summary – Q4’19 Financial results in-line with or better than our expectations Net Sales $456 million Net Sales decline 15%, Organic Sales1) decline 14% Active Safety Net Sales decline 22%, Organic Sales1) decline 20% Operating cash flow impacted by ~$(30) million of timing effects Outlook – FY’20 Organic… Continue reading Veoneer: Financial Report October – December 2019