Tag: Financial Results

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

Michael Lohschneller: Opel boss explains his savings plan – “It can not go on like this”

RüsselsheimThe goal that PSA has spent on the German brand is clear: By 2020 at the latest Opel make a profit again. The French do not want to reveal how high the losses of the German brand were in the past financial year. “We have no figures on a full-year basis,” said PSA CFO Jean-Baptiste… Continue reading Michael Lohschneller: Opel boss explains his savings plan – “It can not go on like this”

CORRECTED-Peugeot hits new earnings record despite Opel loss

PARIS (Reuters) – PSA Group (PEUP.PA) shrugged off losses at the newly acquired Opel division to lift sales, profit and operating margin to new records in 2017, the French carmaker said on Thursday. The maker of Peugeot, Citroen, Opel and Vauxhall cars said net income rose 11.5 percent to 1.93 billion euros ($2.35 billion) on… Continue reading CORRECTED-Peugeot hits new earnings record despite Opel loss