Tag: Financial Results

PSA maps out Vauxhall’s path to profitability

Opel and Vauxhall have not posted a full-year profit this century, losing about £15 billion in the past 17 years. That represents a catastrophic failure by any measure, but it also highlights just how ambitious the recovery plan set out by new owner the PSA Group is. The strategy, called ‘Pace’, calls for (among other… Continue reading PSA maps out Vauxhall’s path to profitability

Daimler profit warning upsets car industry

D The Daimler share will suffer the consequences of the lowered forecasts on Thursday. The share price of the automotive group falls by about 2.5 percent. The Daimler papers last cost just over 58 euros. Previously, they had marked with 57.65 euros the lowest level since the summer of 2016. Among the negative news about… Continue reading Daimler profit warning upsets car industry

Aston Martin to open Silverstone test centre

LONDON (Reuters) – Aston Martin will open a test and development centre at Silverstone, the home of British Formula One racing, as the luxury carmaker continues to expand ahead of a possible stock market flotation. FILE PHOTO – F1 – Formula One – British Grand Prix 2017 – Silverstone, Britain – July 16, 2017 Mercedes’… Continue reading Aston Martin to open Silverstone test centre

Daimler expects less profit

Thursday, 06/21/2018 09:52 clock The car company Daimler has reduced its outlook for 2018. As reasons were the trade conflict between the USA and China and the diesel affair called. Daimler expects earnings before interest and taxes (EBIT) to be slightly below the previous year’s level in the current year, the Dax Group announced in… Continue reading Daimler expects less profit

Diesel affair burdened car dealers

19.06.2018 Ι The diesel affair hits workers in car dealerships and car repair shops twice as hard. They sell fewer cars and diesel car owners like to let their frustration on them. Employees in the automotive industry are increasingly suffering from the consequences of the diesel affair. “What is still earned in service, is lost… Continue reading Diesel affair burdened car dealers

Varroc set to acquire Turkish lighting equipment supplier, also partner Italian co for EFI

Varroc Group’s MD, Tarang Jain: “Turkey is going to be a key market. Its car industry is 1.7 million units strong.” Homegrown auto component major Varroc Engineering is set to take a couple of steps aimed at strengthening its lighting business and entering into a new space. The Aurangabad-headquartered company is set to acquire a… Continue reading Varroc set to acquire Turkish lighting equipment supplier, also partner Italian co for EFI

Peek raises $23M and inks partnership with Google in push to digitize travel activities

Peek, a U.S. startup aiming to digitize the travel activities industry, has pulled a $23 million Series B round of financing and uncorked a partnership with Google that will help increase its visibility. Founded in 2012 by Ruzwana Bashir (CEO) and Oskar Bruening (CTO), the startup describes itself as “OpenTable for the activities market” in that it… Continue reading Peek raises $23M and inks partnership with Google in push to digitize travel activities

Tesla chief Elon Musk accuses worker of sabotage

Tesla chief executive Elon Musk has accused an employee of carrying out “extensive and damaging sabotage” at the electric carmaker. In an email to staff, Mr Musk said an unnamed employee made unspecified coding changes to its manufacturing operating system and sent sensitive data to unnamed third parties. The company did not comment and the… Continue reading Tesla chief Elon Musk accuses worker of sabotage