Moody’s Investors Service also said the outlook on Tata Motors remains negative. New Delhi: Ratings agency Moody’s Thursday downgraded Tata Motors‘ corporate family rating (CFR) and senior unsecured instruments rating, citing sustained deterioration in the company’s credit profile mainly on account of its British arm Jaguar Land Rover‘s weak performances. Moody’s Investors Service also said… Continue reading Moody’s downgrades Tata Motors ratings with outlook negative
Tag: Brexit
Billionaire behind Energy Absolute is seeking to build the Tesla of Thailand
It’s the epitome of a closed circuit: the utility helping power one of Southeast Asia’s biggest cities is building electric cars, batteries and charging stations for the nascent market, and then supplying the juice to keep them all running. Thailand billionaire Somphote Ahunai envisions his Energy Absolute Pcl as a titan of EVs even though… Continue reading Billionaire behind Energy Absolute is seeking to build the Tesla of Thailand
Slight plus after eight months: new registrations of new cars in Europe are increasing again
DPA Again, a little more cars will be registered in Europe – but not in Britain, which has been hit hard by Brexit Demand in the European car market has not fallen for the first time in eight months last month. In May, new registrations in the European Union rose compared to the same month… Continue reading Slight plus after eight months: new registrations of new cars in Europe are increasing again
Jobs at risk at Telford Mahle car filter plant – BBC News
Up to 180 jobs are under threat as a car component manufacturer considers closing its plant in Telford. Mahle said its decision was due to a decline in order levels and a “planned reduction in investments and production locations”. The firm said the Halesfield 25 site in Shropshire was “no longer sustainable” and it was… Continue reading Jobs at risk at Telford Mahle car filter plant – BBC News
UPDATE 3-Ford to close Wales engine plant in latest blow to UK car sector
LONDON (Reuters) – Ford said it would close its plant in Bridgend, south Wales, next year because of falling demand for some if its engines, putting 1,700 jobs at risk in a further blow to Britain’s once booming car industry. The Ford logo is seen at the North American International Auto Show in Detroit, Michigan,… Continue reading UPDATE 3-Ford to close Wales engine plant in latest blow to UK car sector
Announcement on Ford plant closure due
An announcement on the proposed closure of Ford’s Bridgend plant will be made on Thursday, the BBC has been told. Ford Europe and bosses from the United States will meet union leaders at its Essex headquarters. The GMB said closure would “mean disaster” for the plant, which opened in 1980 and employs 1,700 workers. Ford… Continue reading Announcement on Ford plant closure due
Brexit: UK car production plunges amid ‘untold damage’ of EU leave date chaos
Automotive industry April manufacturing fell 44.5% as factories shut down for an EU exit that never came Firms such as Jaguar Land Rover moved the date of their planned shutdowns to avoid any disruption to their supply lines around 29 March – the original date of Brexit. Photograph: Leon Neal/Getty Images Car production plunged by… Continue reading Brexit: UK car production plunges amid ‘untold damage’ of EU leave date chaos
UK car manufacturing plummets in April as Brexit shutdowns strike
Innovate in Britain: UK government & auto industry have jointly invested more than US$640m (£500m) in CAV R&D and t… https://t.co/AwpNeIdEit
Brexit shutdown cuts car output by 45%
Factory shutdowns designed to cope with disruption from a 29 March Brexit, slashed UK car production in April by almost a half. Even though Brexit is delayed the factories still closed and production fell 44.5% according to the Society of Motor Manufacturers and Traders (SMMT). In what it called “an extraordinary month”, the SMMT said… Continue reading Brexit shutdown cuts car output by 45%
‘No truth’ to PSA Group takeover rumours, says JLR owner Tata Motors
Jaguar Land Rover has said that there is ‘no truth’ to rumours that it was on the verge of an acquisition by French car manufacturing giant, the PSA Group. JLR issued an official statement regarding a potential tie up with the Peugeot, Citroën and DS Automobiles owners, which also added Vauxhall to its roll call… Continue reading ‘No truth’ to PSA Group takeover rumours, says JLR owner Tata Motors