US Motoring Press – Page 1629 – I wish I had more to offer

Mahindra & Mahindra continues to garner 51,000 bookings per month, pending order book at 2.86 lakh units

Mahindra & Mahindra continues to sustain a strong demand momentum for its brand and is garnering an average of 51,000 units booking every month over the last few months. Speaking to media post Q2 FY-24 earnings call, Rajesh Jejurikar, ED and CEO of Auto and Farm business at Mahindra & Mahindra said that the company… Continue reading Mahindra & Mahindra continues to garner 51,000 bookings per month, pending order book at 2.86 lakh units

Mahindra & Mahindra continues to garner 51,000 bookings per month, pending order book at 2.86 lakh units

M&M Q2 Result: Net profit jumps 67% to Rs 3,452 crore

Mumbai-based auto major Mahindra & Mahindra reported a standalone net profit of Rs 3,452 crore, translating to a year-on-year growth of 67%, on the back of strong sales of SUVs. Standalone revenue for the second quarter of FY24 was Rs 25,773, resulting in an increase of 17% on a year-on-year basis. EBITDA in Q2 FY24… Continue reading M&M Q2 Result: Net profit jumps 67% to Rs 3,452 crore

Renault Korea Motors to contract-manufacture Polestar 4 at Busan plant

Swedish electric performance car brand Polestar has confirmed the next step in diversifying its manufacturing footprint. Manufacturing of Polestar 4 in Hangzhou Bay, China, will be complemented with manufacturing in Busan, South Korea, expected to start during the second half of 2025. An agreement has been reached between Polestar, Geely Holding and Renault Korea Motors (RKM),… Continue reading Renault Korea Motors to contract-manufacture Polestar 4 at Busan plant

Renault Korea Motors to contract-manufacture Polestar 4 at Busan plant

Biden to Celebrate Auto Plant Reopening in Illinois

President Biden plans to meet with the head of the United Automobile Workers in Belvidere, Ill., on Thursday to celebrate the reopening of an assembly plant and promote a landmark labor deal with Detroit’s Big Three automakers, a trip that could help him shore up critical union support. The visit to the Stellantis plant comes… Continue reading Biden to Celebrate Auto Plant Reopening in Illinois

‘Our Family Can Have a Future’: Ford Workers on a New Union Contract

Before autoworkers went on strike in September, Dave and Bailey Hodge were struggling to juggle the demands of working at a Ford Motor plant in Michigan and raising their young family. Both were working 12-hour shifts, seven days a week, to earn enough to cover monthly bills, car payments and the mortgage on a home… Continue reading ‘Our Family Can Have a Future’: Ford Workers on a New Union Contract

Tesla shares drop 5% after HSBC calls it a ‘very expensive auto company’

Tesla Chief Executive Officer Elon Musk gets in a Tesla car as he leaves a hotel in Beijing, China May 31, 2023. Tingshu Wang | Reuters Tesla shares closed down about 5% on Thursday at $209.98 after HSBC Global initiated coverage with a “reduce” rating and a $146 price target. In their note, HSBC analysts… Continue reading Tesla shares drop 5% after HSBC calls it a ‘very expensive auto company’

Biden says all autoworkers deserve deals like those the UAW won from Detroit automakers

U.S. President Joe Biden puts on a t-shirt of the UAW Local 1268 during a United Auto Workers (UAW) union members meeting, in Belvidere, Illinois, U.S., November 9, 2023. Leah Millis | Reuters DETROIT – President Joe Biden said Thursday that all autoworkers deserve contracts like the ones recently won by the United Auto Workers… Continue reading Biden says all autoworkers deserve deals like those the UAW won from Detroit automakers