With this acquisition, Groupe PSA will be able to accelerate the rollout of its aftermarket offering in China by rapidly establishing its position in the market, which represents 130 million vehicles. Created more than 20 years ago, Jian Xin is currently the leading spare parts distributor in the Shanghai region. Every year, it sells more… Continue reading Groupe PSA acquires a controlling interest in Jian Xin, a Chinese automotive spare parts distributor
Tag: M and A
Exclusive: Renault’s Mueller quits, clearing CEO succession path – sources
PARIS (Reuters) – Renault’s (RENA.PA) Chief Performance Officer Stefan Mueller is leaving the company, sources told Reuters on Friday – likely clearing the way for rival candidate Thierry Bollore to be named second-in-command and eventual successor to CEO Carlos Ghosn. Bollore, currently chief competitive officer, had been vying with Mueller for promotion in the succession… Continue reading Exclusive: Renault’s Mueller quits, clearing CEO succession path – sources
Singapore: ComfortDelGro expands UK footprint, buys over insurance JV
February 9, 2018 ComfortDelGro Corporation is expanding its footprint in the United Kingdom through the acquisition of a bus and coach operator in South Wales for £13.4 million ($18.7 million). Additionally, it has bought over an insurance joint venture it launched in 2003. The acquisition of New Adventure Travel (NAT) Group in the UK was conducted through… Continue reading Singapore: ComfortDelGro expands UK footprint, buys over insurance JV
February 6, Geely Automobile Group released January sales announcement: single-month sales break 150,000, reaching 15,5089 units, an increase of 51%, with a record high hit the 2018 market sentiment. It is worth mentioning that, Bo Yue, …
February 6, Geely Automobile Group released January sales announcement: single-month sales break 150,000, reaching 15,5089 units, an increase of 51%, with a record high hit the 2018 market sentiment. It is worth mentioning that, Bo Yue, the new Imperial Regal, Imperial GL, Imperial GS and other eight models have sold over 10,000 vehicles, including Bo… Continue reading February 6, Geely Automobile Group released January sales announcement: single-month sales break 150,000, reaching 15,5089 units, an increase of 51%, with a record high hit the 2018 market sentiment. It is worth mentioning that, Bo Yue, …
Elon Musk Calls Out LIDAR Tech as “A Crutch” in Autonomous Vehicles
In Brief Waymo and Uber’s self-driving systems use LIDAR technology to navigate traffic. But Tesla CEO Elon Musk says cameras — not LIDAR — are the way to go. Vision of the Future Elon Musk recently reiterated his stance that Light Detection and Ranging (LIDAR) technology is not a critical component of autonomous driving systems.… Continue reading Elon Musk Calls Out LIDAR Tech as “A Crutch” in Autonomous Vehicles
Fiat Chrysler CEO Sergio Marchionne To Step Down, Warns Auto Industry of Commoditization
Sergio Marchionne, who has led Fiat Chrysler Automobiles since 2009, has words of advice for the automobile industry: The future of cars is coming swiftly, and if you can’t innovate and differentiate, you won’t survive. Marchionne, one of the longest-serving chief executives in the auto industry, confirmed on Monday, the opening of the North American… Continue reading Fiat Chrysler CEO Sergio Marchionne To Step Down, Warns Auto Industry of Commoditization
Dongfeng Yulon moves into high gear, by rebranding
Dongfeng Yulon’s Luxgen models are displayed at an auto show in Changchun, Jilin province. [Photo/China Daily] Dongfeng Yulon Motor Co, a joint venture between the Chinese mainland’s Dongfeng Motor Corp and Taiwan’s Yulon Motor, is re-positioning itself in an attempt to rev up its performance in the competitive Chinese market. Jack Hsin-fa Wu, general manger… Continue reading Dongfeng Yulon moves into high gear, by rebranding
DM Keith adds Honda to portfolio with Westgate Motor Company acquisition
DM Keith has acquired Grimsby’s Westgate Motor Group in a move which sees the group expand the size of its portfolio to ten franchised dealership sites.
MWC 2018: Continental Is Shaping the Future of Mobility
Continental will be unveiling innovative solutions and services at the Mobile World Congress in Barcelona Holistic connectivity is turning vehicles into smartphones on wheels Smart integration of mobile devices maximizes driver and user experience Barcelona, February 8, 2018. Starting in April 2018, every new car in Europe will have to be equipped with an integrated… Continue reading MWC 2018: Continental Is Shaping the Future of Mobility
Nissan reports nine-month results for fiscal year 2017
YOKOHAMA, Japan (February 8, 2018) – Nissan Motor Co., Ltd. today announced financial results for the nine-month period to December 31, 2017. Nissan generated an operating profit of 364.2 billion yen on net revenues of 8.53 trillion yen, equivalent to an operating margin of 4.3%. During the period, the Group’s performance was adversely impacted by… Continue reading Nissan reports nine-month results for fiscal year 2017