Volvo Group – The Fourth Quarter and Full Year 2019

GOTHENBURG, Sweden, Jan. 30, 2020 /PRNewswire/ —  “2019 was another good year for the Volvo Group. We grew net sales by 11% to SEK 432 billion and improved our adjusted operating income to SEK 47.9 billion (40.7), with a margin of 11.1% (10.4). During the year we also continued to increase our financial strength. With… Continue reading Volvo Group – The Fourth Quarter and Full Year 2019

‘Do or die’: Nissan takes the axe to the house Ghosn built

Nissan is planning aggressive cost cuts to deal with an unexpected slump in sales as the expansionist strategy it inherited from fugitive former Chairman Carlos Ghosn flounders.Now, many of those models are missing sales goals and executives at Nissan’s Yokohama headquarters estimate up to 40% of its global manufacturing capacity is unused, or under-used.Nissan is aiming to achieve an operating margin of 6% on revenue of 14.5 trillion yen by March 2023, compared with 3.0% from 13.0 trillion forecast for the year ending in March 2020. More sourcesDo or die: Nissan takes the axe to the house Ghosn built (Reuters: Jan 28, 2020 at 9:30 PM)

Renault says will reopen Wuhan plant with partner Dongfeng on Feb. 10

LONDON, Jan 28 (Reuters) – Renault will resume production at the factory it runs with Dongfeng Group in Wuhan, Hubei province and the epicentre of the outbreak of a new flu-like virus, on Feb. 10, a spokeswoman for the French carmaker said on Tuesday.
The reopening of the plant will be eight days after the end of the extended Lunar New Year holiday in China, the world's top car market.