AUBURN HILLS, Mich., March 29, 2020 /PRNewswire/ — Nexteer Automotive today reported annual results for its fiscal year ended December 31, 2019. The Company’s 2019 financial results were impacted by various environmental challenges including lower OEM light vehicle production across all regions, led by a decline in China, a GM-UAW labor strike in North America interrupting vehicle… Continue reading Nexteer Reports 2019 Financial Results
Tag: Tier 1 Suppliers
Coronavirus: a month off for the German automobile
The first German industry is at a standstill. One after the other, the major German car manufacturers have announced the closure of their assembly lines. A high social risk maneuver in a sector on which more than 840,000 jobs depend. Initially, 200,000 people are put on compulsory leave or invited to use their “time credit”.… Continue reading Coronavirus: a month off for the German automobile
@GM: Buick Accepting Preorders for All-New GL8 Avenir Family
Buick Accepting Preorders for All-New GL8 Avenir Family 2020-03-23 SHANGHAI — Buick today began accepting preorders for its all-new GL8 Avenir luxury multi-purpose vehicle (MPV) family in China. Three models are initially being offered: the flagship GL8 Avenir four-seat luxury MPV, and six-seat and seven-seat variants. Preorders can be made through Buick’s online store on… Continue reading @GM: Buick Accepting Preorders for All-New GL8 Avenir Family
MAGNA POSTS 2019 ANNUAL REPORT
AURORA, Ontario, March 27, 2020 (GLOBE NEWSWIRE) — Magna International Inc. (TSX: MG; NYSE: MGA) today announced that its 2019 Annual Report, including Management’s Discussion and Analysis and Audited Consolidated Financial Statements, Annual Information Form (AIF) and Form 40-F, are now available on the company’s website, www.magna.com. Magna has also filed these documents with the… Continue reading MAGNA POSTS 2019 ANNUAL REPORT
@Groupe PSA: Faurecia is organized to get through the global crisis
Texte Due to the crisis and the subsequent lack of visibility for the automotive industry, the full-year 2020 financial objectives that Faurecia announced on February 17 are no longer relevant. The Group will present its new financial objectives for 2020 as soon as the macro-economic outlook for the rest of the year is sufficiently clear.… Continue reading @Groupe PSA: Faurecia is organized to get through the global crisis
Magna International Investments S.A. — Moody’s places Magna’s ratings under review for downgrade
Moody’s Investors Service, (“Moody’s”) placed the ratings of Magna International Inc. (Magna) under review for downgrade including its A3 LT Issuer Rating, (P)A3 Senior Unsecured Shelf rating, and A3 Senior Unsecured Notes rating. More specifically, Magna’s exposure to final consumer demand for light vehicles has left it vulnerable to shifts in market sentiment in these… Continue reading Magna International Investments S.A. — Moody’s places Magna’s ratings under review for downgrade
Lear Provides Business Update Regarding COVID-19 and Withdraws Full Year 2020 Guidance
Lear taking decisive actions in response to coronavirus pandemic, including: – Instituting additional employee safety measures – Drawing down $1.0 billion on revolving credit facility – Temporarily suspending share repurchases and quarterly dividend – Withdrawing full year 2020 outlook – Undertaking operational actions to reduce costs and preserve liquidity SOUTHFIELD, Mich., March 26, 2020 /PRNewswire/… Continue reading Lear Provides Business Update Regarding COVID-19 and Withdraws Full Year 2020 Guidance
Yanfeng Global Auto Interior Sys Co., Ltd — Moody’s places ratings of four Chinese and Korean automotive parts suppliers under review for downgrade
Moody’s Investors Service has today placed the ratings of four Chinese and Korean Automotive parts suppliers under review for downgrade. The four companies are Hyundai Mobis Co., Ltd., Johnson Electric Holdings Limited, Nexteer Automotive Group Limited, and Yanfeng Global Automotive Interior Systems Co., Ltd. A full list of the affected ratings can be found at… Continue reading Yanfeng Global Auto Interior Sys Co., Ltd — Moody’s places ratings of four Chinese and Korean automotive parts suppliers under review for downgrade
Ineos Automotive reveals its Defender-like Grenadier SUV in greater detail – Forma car News
Ineos Automotive has revealed some of the principal specs of its upcoming Grenadier SUV, which openly takes after the Land Rover Defender classics. Four years ago, just as the first-gen Defender went out of production, Ineos CEO Jim Ratcliffe contacted Jaguar Land Rover asking to buy the production rights. Facing refusal, he decided to design… Continue reading Ineos Automotive reveals its Defender-like Grenadier SUV in greater detail – Forma car News
Toyota seeks $9.2 billion credit line from Sumitomo Mitsui, MUFG Bank: Kyodo
FILE PHOTO: A man walks past a Toyota logo at the Tokyo Motor Show, in Tokyo, Japan October 24, 2019. REUTERS/Edgar Su TOKYO (Reuters) – Toyota Motor Corp (7203.T) has sought a credit line totaling 1 trillion yen ($9.23 billion) from Sumitomo Mitsui Banking Corp and MUFG Bank as fund-raising costs rise on the back… Continue reading Toyota seeks $9.2 billion credit line from Sumitomo Mitsui, MUFG Bank: Kyodo