Category: Newswire

Renault: Renault Retail Group presents its project to change scope between now and 2024

PRESS RELEASE                                                                                                                                                                                                       2/27/2020Renault Retail Group presents its project to change scope between now and 2024Renault Retail Group (RRG) is planning to resize its business activities in France.The project will involve the sale of ten dealerships to reliable and robust purchasers, safeguarding jobs.The project will enable RRG to pursue its recovery and optimize future investments.                                                             Paris, February… Continue reading Renault: Renault Retail Group presents its project to change scope between now and 2024

Aston Martin clears out board as losses widen

Aston Martin plunged to a £104m annual loss during an “extremely challenging period”, as the luxury carmarker announced a clear out of its board.The company posted a £104.3m pre-tax loss for its full year, down 53pc on 2018.Mr Stroll will join the board as executive chairman when Ms Hughes departs on April 7, the embattled carmaker confirmed.

Subaru to invest 158 mln USD in Indiana plant

CHICAGO, Feb. 26 (Xinhua) — Japanese automaker Subaru announced Wednesday that it will invest 158 million U.S. dollars into two new plants that will create 350 jobs.
According to Subaru of Indiana Automotive, Subaru's North American production arm, the investment by the company will go toward adding a new service parts facility and transmission assembly shop in Lafayette, U.S. state of Indiana.
The new facilities will be located on Subaru of Indiana Automotive's 820-acre campus. Construction is expected to begin this summer on both the service parts facility, which will be a stand-alone building, and the transmission assembly shop, which will be an addition to the plant.
Subaru of Indiana Automotive is the only manufacturing facility that Subaru has outside of Asia. The company employs more than 6,000 workers and began production for Subaru in 1989. Annual vehicle production at the plant is expected to reach 410,000 in 2020.
Approximately 50 percent of Subaru's sold in ..

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.