Today: September 12, 2024
Today: September 12, 2024

Automotive Industry

Americas|Business|Economy|Technology

Mexico president says Musk 'not serious' about possibly scrapping Mexican investment

Mexico's president on Wednesday pushed back on Tesla CEO Elon Musk's comments that the EV maker has paused plans for a plant in Mexico and would reassess

Mexico president says Musk 'not serious' about possibly scrapping Mexican investment
Business|Economy

Strike at plant that makes truck seats forces production stoppage for Missouri General Motors

Production has halted at a Missouri General Motors plant that manufactures trucks and vans, the result of a strike at the company that supplies seats for the vehicles

Strike at plant that makes truck seats forces production stoppage for Missouri General Motors
Business|Economy|Technology

Ford profit disappoints, stock falls 11% as quality issues dog automaker

Ford Motor reported a dip in second-quarter adjusted profit on Wednesday as the automaker continues to battle costly quality issues and an EV business that is

Ford profit disappoints, stock falls 11% as quality issues dog automaker
Asia|Business|Economy

Nissan profit wiped out by US discounts; shares hammered

Japan's Nissan Motor slashed its annual outlook on Thursday after deep discounting in the United States almost completely wiped out the automaker's first-quarter

Nissan profit wiped out by US discounts; shares hammered
Business|Economy

Thailand car production drops sharply in June, local sales fall

Car production in Thailand fell 20.11% in June from a year earlier due to tighter financing rules and high consumer debt, and full-year production is now expected to be lower than

Thailand car production drops sharply in June, local sales fall
Asia|Business|Economy

Hyundai Motor posts record Q2 profit on strong US sales, to boost hybrid lineups

Hyundai Motor reported record quarterly profit and revenue on Thursday on strong sales of high-margin cars and said it would expand hybrid lineups to

Hyundai Motor posts record Q2 profit on strong US sales, to boost hybrid lineups
Business|Economy|Finance|Stock Markets

Ford slips as higher costs, EV unit take a toll on profit growth

Ford Motor's shares tumbled over 13% to a near six-month low on Thursday after the automaker missed second-quarter profit estimates, as it struggles with quality-related

Ford slips as higher costs, EV unit take a toll on profit growth
Business|Economy|Finance

Japanese automaker Nissan lowers its profit forecast amid incentive, inventory woes

Nissan has lowered its full fiscal year outlook after the Japanese automaker reported a 73% decline in profit in the April-June quarter compared to the previous year

Japanese automaker Nissan lowers its profit forecast amid incentive, inventory woes
Americas|Business|Economy

Stellantis ready to axe brands and fix US problems, CEO says

Stellantis is taking steps to fix weak margins and high inventory at its U.S. operations and will not hesitate to axe

Stellantis ready to axe brands and fix US problems, CEO says
Business|Economy|Europe

Carmaker Stellantis pledges to tackle problems in North America as profits plunge

Stellantis CEO Carlos Tavares pledged action to tackle problems in North America and elsewhere after reporting a plunge in first-half earnings

Carmaker Stellantis pledges to tackle problems in North America as profits plunge
Asia|Business|Technology

SoftBank-backed Ola Electric suspends India car project to focus on scooters, bikes, sources say

India's IPO-bound Ola Electric has suspended its electric car launch plans as the Softbank-backed company wants to focus on its e-scooter business,

SoftBank-backed Ola Electric suspends India car project to focus on scooters, bikes, sources say
Asia|Business|Technology

Toyota to build EV battery plant for Lexus cars, Nikkei reports

Japan's Toyota Motor plans to build a battery plant for electric vehicles in the southwestern prefecture of Fukuoka and supply its batteries to a factory that makes luxury Lexus brand

Toyota to build EV battery plant for Lexus cars, Nikkei reports
Asia|Business|Economy

Thailand to offer investment incentives for makers of hybrid vehicles

Regional auto making hub Thailand will introduce investment incentives for manufacturers of hybrid vehicles, its Board of Investment (BOI) said on Friday, with excise taxes for

Thailand to offer investment incentives for makers of hybrid vehicles
Asia|Business

Nissan cuts output at top Japanese plant, sources say

Nissan cut planned production by a third at its top Japanese plant this month, a move that will also see it slash output of a flagship crossover model

Nissan cuts output at top Japanese plant, sources say
News

United Auto Workers threaten to expand targeted strike if there is no substantive progress by Friday

The United Auto Workers union is preparing to expand its strike against Detroit’s Big Three unless it sees progress in contract negotiations

United Auto Workers threaten to expand targeted strike if there is no substantive progress by Friday
Business|News

Auto workers union to announce plans on Friday to expand strike in contract dispute with companies

The United Auto Workers union says it will announce on Friday how it plans to expand its strike against Detroit’s three automakers

Auto workers union to announce plans on Friday to expand strike in contract dispute with companies
Business

Canadian union Unifor sets Oct 9 deadline for GM negotiations

Canadian labor union Unifor said on Thursday it has informed General Motors that Oct. 9 has been set as the deadline for negotiating a deal with the U.S. automaker.

Canadian union Unifor sets Oct 9 deadline for GM negotiations
Business

Tesla's deliveries expected to fall on plant shutdowns, soft demand

Tesla may miss estimates for third-quarter deliveries due to planned factory shutdowns and soft demand that led the automaker to boost discounts, several Wall Street

Tesla's deliveries expected to fall on plant shutdowns, soft demand
Business

UAW and Ford Motor make progress in labor negotiations

The United Auto Workers (UAW) and Ford Motor have narrowed their differences on pay increases after a new offer from the automaker amid "really active" talks, people familiar with the

UAW and Ford Motor make progress in labor negotiations
Business

UAW drops unfair labor practice charges against GM, Stellantis

The United Auto Workers dropped unfair labor practice charges against General Motors and Chrysler-parent Stellantis on Friday.

UAW drops unfair labor practice charges against GM, Stellantis
Business

EV maker Rivian beats Q3 delivery estimates after raising production

Electric-vehicle maker Rivian Automotive on Monday reported third-quarter deliveries above analysts' estimates, as it ramped up production to meet a sustained demand for its

EV maker Rivian beats Q3 delivery estimates after raising production
Business

GM, Stellantis face $9.5 billion in fuel economy fines -- letter

The Biden administration proposal to hike fuel economy standards through 2032 would cost General Motors $6.5 billion in fuel economy fines and Chrysler parent Stellantis $3

GM, Stellantis face $9.5 billion in fuel economy fines -- letter
Business

GM furloughs another 163 workers due to UAW strike

General Motors said on Tuesday it was laying off another 163 workers in Ohio because of the ongoing United Auto Workers strike at two assembly plants and 18 parts distribution centers.

GM furloughs another 163 workers due to UAW strike
News

UAW, automakers signal progress after days of stalemate -sources

Negotiators for the United Auto Workers and Ford Motor have narrowed their differences on pay increases after a new offer from the automaker

UAW, automakers signal progress after days of stalemate -sources
Business

LGES to supply Toyota with batteries, invest $3 billion in US plant

Toyota Motor and LG Energy Solution signed a supply agreement for lithium-ion batteries for use in the Japanese automaker's U.S.-built electric vehicles

LGES to supply Toyota with batteries, invest $3 billion in US plant

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