LONDON/FRANKFURT/MILAN (Reuters) – Fiat Chrysler Automobiles NV (FCA) (FCHA.MI) is looking to spin off auto-parts business Magneti Marelli to its shareholders via a Milan listing that will not raise money by selling new shares, four sources familiar with the matter said. FILE PHOTO: A screen displays the ticker information for Fiat Chrysler Automobiles NV at… Continue reading Exclusive: Fiat Chrysler to spin-off Magneti Marelli without raising money – sources
Tag: Financial Results
Ford to Lay Off 2,000 Workers for Ranger, Bronco Retooling
Ford Motor Co. will lay off about 2,000 workers for almost six months this year as the U.S. automaker retools a Michigan plant to produce Ranger pickups and Bronco sport utility vehicles. Workers at Michigan Assembly Plant in Wayne, west of Detroit, will be temporarily dismissed from around May 7 through Oct. 22, according to a… Continue reading Ford to Lay Off 2,000 Workers for Ranger, Bronco Retooling
New Volvo XC40 is named 2018 European Car of the Year
New Volvo XC40 is named 2018 European Car of the Year The new Volvo XC40 small SUV has been named the 2018 European Car of the Year ahead of the Geneva Motor Show in Switzerland. It is the first win of this prestigious award for Volvo Cars, the premium car maker. “Winning this… Continue reading New Volvo XC40 is named 2018 European Car of the Year
VW Weighs Strategic Options for Truck Division Revamp
Volkswagen AG officials are discussing options to prepare the truck division for access to the capital markets, potentially paving the way for an initial public offering of shares or a bond sale by the unit, according to people familiar with the matter. Deliberations at a meeting last week included changing the division’s legal structure to… Continue reading VW Weighs Strategic Options for Truck Division Revamp
BAIC Chairman Sees Swing to Profit in 2019 on Brands Like Senova
BAIC Motor Corp. will probably make a profit on sales of its own brands such as Senova cars next year after significantly reducing losses this year, Chairman Xu Heyi said in an interview Saturday on the sidelines of the Chinese People’s Political Consultative Conference in Beijing. Such a reversal of fortunes for the Beijing-based automaker’s money-losing… Continue reading BAIC Chairman Sees Swing to Profit in 2019 on Brands Like Senova
Dana Wins Contract to Supply All-Wheel-Drive Axle for New Volkswagen Crafter Van
BIRMINGHAM, England, March 5, 2018 /PRNewswire/ — Dana Incorporated (NYSE: DAN) is supplying its Spicer® AdvanTEK® M180 all-wheel-drive axle to the new, award-winning Volkswagen Crafter 4 Motion panel van. The axle – manufactured at Dana’s Birmingham, England, facility – provides exceptional reliability, durability, comfort, and efficiency in a compact design to meet stringent performance requirements throughout… Continue reading Dana Wins Contract to Supply All-Wheel-Drive Axle for New Volkswagen Crafter Van
News Release – First-Ever All-Electric Jaguar Unveiled at Magna
Please click HERE for a PDF version of the release. World premiere of the Jaguar I-PACE Magna is only contract manufacturer that can build vehicles across a range of propulsion systems Second Jaguar model that will be built by Magna GRAZ, Austria, March 02, 2018 — Magna’s complete vehicle manufacturing facility in Graz, Austria, hosted… Continue reading News Release – First-Ever All-Electric Jaguar Unveiled at Magna
An analysis of CEEPR’s Paper on “The Economics of Ride-Hailing”
An analysis of CEEPR’s Paper on “The Economics of Ride-Hailing” By Jonathan Hall, Chief Economist The on-demand workforce has grown considerably over the years. In the US alone, more than 750,000 people drive with Uber. And while on-demand work still accounts for a relatively small portion of the total US labor force, it has emerged… Continue reading An analysis of CEEPR’s Paper on “The Economics of Ride-Hailing”
Exclusive: GM plants to cut 5,000 South Korean jobs
SEOUL (Reuters) – General Motors’ (GM.N) South Korean unit plans to slash 5,000 jobs, or about 30 percent of its workforce, but keep production steady if Seoul agrees to its $2.8 billion proposal for the loss-making operation, according to a document seen by Reuters. General Motors Korea’s labour union members protest, while demanding that GM… Continue reading Exclusive: GM plants to cut 5,000 South Korean jobs
Volvo Cars global sales up 17.2 per cent in the first two months of 2018 as first XC40s reach customers
Volvo Cars global sales up 17.2 per cent in the first two months of 2018 as first XC40s reach customers Volvo Cars’ good start to 2018 continued in February after the premium car maker reported a global year-on-year sales increase of 12.1 per cent for the month, with deliveries of the new XC40 small… Continue reading Volvo Cars global sales up 17.2 per cent in the first two months of 2018 as first XC40s reach customers