SEOUL, March 9 (Yonhap) — Hyundai Motor Co., South Korea’s biggest carmaker by sales, recently asked for the cooperation of its union to accept a cut in benefits as part of a broader move to ride out the unfriendly business environment, the company said Friday. In a letter sent to the union last Friday, the… Continue reading Hyundai asks for union’s cooperation in cutting worker benefits
Tag: Financial Results
News Release – Magna Launches New Composites Center of Excellence in Germany
Please click HERE for a PDF version of the release. Brings advanced composites and carbon fiber expertise to European market Develops lightweight structural and exterior components Enables joint development projects with European automakers SAILAUF, Germany, March 07, 2018 — Magna’s new Composites Center of Excellence in Esslingen, Germany, aims to help European automakers meet increasingly… Continue reading News Release – Magna Launches New Composites Center of Excellence in Germany
Annual figures: BMW makes record profit – and benefits from Trump’s tax reform
BMW boss Harald Krüger Satisfied in Geneva: BMW can present a new record profit. (Photo: AP) BMW Thanks to the US tax reform, the net profit has increased significantly. The surplus climbed in 2017 to 8.7 billion euros, which is 26 percent more than in the previous year, as the Munich car maker announced on… Continue reading Annual figures: BMW makes record profit – and benefits from Trump’s tax reform
BMW Group reports eighth successive record year despite high upfront expenditure
Munich. The BMW Group once again demonstrated its ability to generate sustained profitability in 2017, posting its eighth successive record year. Despite a significant increase in upfront expenditure for future mobility the company reported its best ever figures to date for sales volume, revenues and earnings. In addition, the BMW Group delivered more than 100,000… Continue reading BMW Group reports eighth successive record year despite high upfront expenditure
Navistar Reports First Quarter 2018 Results
LISLE, Ill., March 8, 2018 /PRNewswire/ — Navistar International Corporation (NYSE: NAV) today announced a first quarter 2018 net loss of $73 million, or $0.74 per diluted share, compared to a first quarter 2017 net loss of $62 million, or $0.76 per diluted share. First quarter 2018 results included $46 million of charges as a result… Continue reading Navistar Reports First Quarter 2018 Results
Strong Growth and Excellent Financial Position
Targets surpassed – Continental enjoyed strong growth and profitability in fiscal 2017 Sales were up 8.5 percent at €44 billion with an adjusted EBIT margin of 10.9 percent Net income increased to €3 billion and earnings up to €14.92 per share Executive Board to propose a dividend increase of 25 cents to €4.50 per share… Continue reading Strong Growth and Excellent Financial Position
The Zenvo TSR-S Blurs The Line Between Racer And Street Machine
The TSR-S is a street legal version of the TSR – hence the ’S’ in the model name. Featuring an innovative and striking new active multi-axis Centripetal Wing and an in-house developed twin supercharged V8 engine, production of the TSR-S is now underway within Zenvo’s limited production of just five cars a year. Setting the… Continue reading The Zenvo TSR-S Blurs The Line Between Racer And Street Machine
First Ferrari production hybrid model due in mid-2019
The first Ferrari series production hybrid is due in 18 months The hybrid engine could appear in Ferrari’s forthcoming SUV Ferrari’s first production series hybrid will launch in 18 months’ time, company boss Sergio Marchionne has confirmed. The Italian firm already has hybrid test mules running that feature a V8 hybrid powertrain, said Marchionne. It will… Continue reading First Ferrari production hybrid model due in mid-2019
Ferrari V8 hybrid to launch in 2019, possibly powering Ferrari’s SUV
Ferrari looks set to upset purists and win new fans with the introduction of a hybrid powertrain next year, according to company boss Sergio Marchionne. “A Ferrari V8 hybrid is coming for 2019. The test mules are around now” Marchionne confirmed. It’ll be the first series production hybrid after the limited-run LaFerrari hypercar, but it’s… Continue reading Ferrari V8 hybrid to launch in 2019, possibly powering Ferrari’s SUV
UPDATE 2-Diesel collapse gives automakers carbon headache
GENEVA (Reuters) – The accelerating demise of diesel, long used by carmakers to boost fuel-efficiency, is undermining their plans to meet looming European Union CO2 goals and avoid big annual fines. The BMW M8 is seen during a presentation at the 88th International Motor Show at Palexpo in Geneva, Switzerland, March 6, 2018. REUTERS/Pierre Albouy… Continue reading UPDATE 2-Diesel collapse gives automakers carbon headache