Tag: Brexit

Fitch puts Tata Motors on negative watch over JLR’s Brexit woes

The action was prompted by uncertainty ahead of Brexit. Fitch Ratings said on Wednesday it has placed the credit rating of India’s Tata Motors Ltd on negative watch, stating increasing risks for its British luxury car unit – Jaguar Land Rover (JLR) – over a potentially chaotic Brexit. This comes after the ratings agency placed… Continue reading Fitch puts Tata Motors on negative watch over JLR’s Brexit woes

Fitch puts ratings of Jaguar Land Rover under review citing Brexit

JLR, based in central England, is also planning to prune its workforce as it battles to return to profitability amid lower Chinese demand and a slump in European diesel sales. Fitch Ratings said on Tuesday it has placed the credit ratings of Britain’s biggest carmaker Jaguar Land Rover under review for possible downgrades, citing increasing… Continue reading Fitch puts ratings of Jaguar Land Rover under review citing Brexit

Handelsblatt Interview: The World According to Zetsche – Handelsblatt Global Edition

Daimler CEO Dieter Zetsche talks to Handelsblatt. Dieter Zetsche, chief executive of Germany’s largest luxury carmaker, spent an hour reflecting on where he and the company are heading in an interview in Stuttgart’s Mercedes-Benz museum. With two million cars sold, countless ideas about the future of mobility and his own new, more casual image, Mr.… Continue reading Handelsblatt Interview: The World According to Zetsche – Handelsblatt Global Edition

Brexit: what are carmakers’ contingency plans?

Brexit Brexit: what are carmakers’ contingency plans? From stockpiling to Nissan’s U-turn on making new model in the UK, here’s what firms are doing More than 1.5m cars were made in the UK last year. Photograph: Cath Levett/The Guardian UK-based ​carmakers have triggered a wave of Brexit contingency plans, with Nissan the latest manufacturer to… Continue reading Brexit: what are carmakers’ contingency plans?

UK offered Nissan Brexit assurances, 80 million pounds for car investment

LONDON (Reuters) – Britain promised Nissan up to 80 million pounds ($104 million) of support and offered Brexit-related assurances to help secure a major investment from the Japanese carmaker in 2016, according to a well-guarded letter released on Monday. FILE PHOTO: Nissan car plant in Sunderland, northern England, June 24, 2010. REUTERS/Nigel Roddis/File Photo Nissan… Continue reading UK offered Nissan Brexit assurances, 80 million pounds for car investment

Honda plans to front-load UK production ahead of Brexit

TOKYO (Reuters) – Braced for a possible logistical nightmare when Britain leaves the European Union in March, Honda Motor Co Ltd said on Friday it was preparing to front-load some production at its plant in the country to ship overseas or build up inventories. The Honda logo is seen on a Honda car displayed at… Continue reading Honda plans to front-load UK production ahead of Brexit

UPDATE 1-Ferrari’s CEO “bullish” about earnings, shares jump

MILAN (Reuters) – Ferrari expects growth in core earnings to accelerate to 10 percent this year and Chief Executive Louis Camilleri said he might raise targets for 2020, betting on new models and special editions at premium prices to lure customers. FILE PHOTO – A group of Ferrari owners park their cars to show on… Continue reading UPDATE 1-Ferrari’s CEO “bullish” about earnings, shares jump

Will Brexit kill the British car industry?

The latest UK car manufacturing figures are “deeply depressing” according to Mike Hawes, the chief executive of the Society of Motor Manufacturers and Traders, the automotive industry’s mouthpiece in the UK. If that doesn’t give you a clue to the current sentiment, not much else will. UK car sales fell 6.8% in 2018. UK car… Continue reading Will Brexit kill the British car industry?