Tag: Financial Results

New Year Brings New CEO for Magna

21-year company veteran Swamy Kotagiri takes the helm at MagnaFormer Magna President and CTO blends strategic vision, leadership capabilities and technical expertiseAURORA, Ontario, Jan. 04, 2021 (GLOBE NEWSWIRE) — Last October, Magna’s Board of Directors announced the appointment of Swamy Kotagiri as Magna’s next Chief Executive Officer, effective January 1, 2021. Today, Kotagiri begins his… Continue reading New Year Brings New CEO for Magna

Indian auto major M&M in talks to offload majority stake in Ssangyong

Mahindra & Mahindra Ltd. is in discussions with an investor for selling a majority stake in Ssangyong Motor Co. as India’s largest SUV maker reassesses its investments amid the pandemic. Mahindra will hold 30% or less in Ssangyong if the deal goes through and will also do a 25% capital reduction, Pawan Goenka, managing director… Continue reading Indian auto major M&M in talks to offload majority stake in Ssangyong

@Nio: NIO Inc. Provides December, Fourth Quarter and Full Year 2020 Delivery Update000174

January 3, 2021 at 3:00 AM EST Company Achieved New Records for Monthly and Quarterly Deliveries; Annual Delivery Reached 43,728 Vehicles in 2020 NIO delivered 7,007 vehicles in December 2020, increasing by 121.0% year-over-year NIO delivered 17,353 vehicles in the three months ended December 2020, increasing by 111.0% year-over-year NIO delivered 43,728 vehicles in 2020… Continue reading @Nio: NIO Inc. Provides December, Fourth Quarter and Full Year 2020 Delivery Update000174

@Suzuki: Jan 01, 2021 Maruti Suzuki sales in December 2020

New Delhi: Maruti Suzuki India Limited posted total sales of 160,226 units in December 2020. This is a growth of 20.2% over December 2019. Total sales include domestic sales of 146,480 units and 3,808 units for other OEMs. In addition, the Company exported 9,938 units in December 2020. Q3 (October – December) FY 2020-21 UpdateWith… Continue reading @Suzuki: Jan 01, 2021 Maruti Suzuki sales in December 2020

@Tesla: Tesla Q4 2020 Vehicle Production & Deliveries000056

PALO ALTO, Calif., Jan. 02, 2021 (GLOBE NEWSWIRE) — In 2020, we produced and delivered half a million vehicles, in line with our most recent guidance. In addition, Model Y production in Shanghai has begun, with deliveries expected to begin shortly. Q4 2020   Production Deliveries Subject to operatinglease accounting Model S/X 16,097 18,920 11%… Continue reading @Tesla: Tesla Q4 2020 Vehicle Production & Deliveries000056

Nissan Motor to reduce presence in Europe as part of turnaround plan: Yomiuri

By Reuters Staff 2 Min Read FILE PHOTO: The logo of Nissan Motor Corp. is displayed the company’s showroom in Tokyo, Japan November 11, 2020. REUTERS/Issei Kato TOKYO (Reuters) – Nissan Motor is planning to further reduce its presence in Europe and outsource the sales and manufacturing of its cars to alliance partner Renault, the… Continue reading Nissan Motor to reduce presence in Europe as part of turnaround plan: Yomiuri

@Ford: Ford, Mahindra End Discussions for Auto Joint Venture

DEARBORN, Mich., Dec. 31, 2020 – Ford Motor Company and Mahindra & Mahindra have mutually and amicably determined they will not complete a previously announced automotive joint venture between their respective companies.  The decision follows the passing of the Dec. 31 “longstop,” or expiration, date of a definitive agreement the organizations entered into in October… Continue reading @Ford: Ford, Mahindra End Discussions for Auto Joint Venture

Honda to stop selling cars in Russia in 2022 after failing to make dent

TOKYO — Honda Motor will end sales of new autos in Russia in 2022, bowing out of a market where sales have languished as part of a broader consolidation. The move, announced by the Tokyo-based carmaker’s local arm, is “a step toward restructuring and rightsizing our business,” said a Honda public relations representative in Japan. Honda’s… Continue reading Honda to stop selling cars in Russia in 2022 after failing to make dent

Tesla offers 3 months of free Full Self-Driving package as unprecedented end-of-quarter incentive

Tesla is offering three months of a free Full Self-Driving (FSD) package as an unprecedented end-of-quarter incentive to deliver more vehicles, according to sources. Over the years, Tesla has come up with several incentives to encourage buyers to take delivery by the end of a quarter in order to boost its earnings. This quarter is… Continue reading Tesla offers 3 months of free Full Self-Driving package as unprecedented end-of-quarter incentive