Ford Motor’s China ventures have reported year-on-year sales increase for May in an indication of how the world’s biggest auto market has continued to recover from coronavirus crisis. The U.S. automaker’s Chongqing-based venture with Changan sold 23,491 vehicles in May, increasing 130% from a year ago, it said on Thursday. Jiangling Motors Corp (JMC), in […]
Volvo Cars sales increased 40% in May compared to a month ago
Volvo Cars, owned by China’s Geely Holding, stated on Wednesday it sold 40% more cars in May compared to April, as restrictions to control the spread of the COVID-19 coronavirus pandemic started to ease in some markets. While still observing the drop of 25.5% in May from a year earlier, the automaker sold 44,380 cars […]
General Motors should emerge with permanently lower costs, says CEO
General Motors should emerge from the coronavirus pandemic with a permanently decreased cost base after it scrambled to decrease its cash burn to withstand a two-month shutdown in North American production as part of attempts to stop the spread of COVID-19, its top executive stated on Tuesday. “We were quickly able to take out major […]
Nissan warns UK plant is unsustainable without EU trade deal
Nissan Motor’s car manufacturing plant located in Sunderland, northern England, which hires 7,000, is “unsustainable” if Britain leaves the European Union without a trade deal, it stated on Wednesday. Ashwani Gupta, the automaker’s global chief operating head, informed the BBC about its commitment to the car plant, the United Kingdom’s largest, could not be preserved […]
U.S. auto sales results encourage Detroit plan to rebuild inventories
Several automakers this week reported stronger-than-expected auto sales in May in the United States, and the Detroit automakers said they will work through their annual summer shutdowns to reconstruct inventories as demand recovers from coronavirus shutdowns. The U.S. auto sector has resumed assembly plants after the shutdown and automakers that reported May sales said they […]
Volkswagen to install Porsche’s CEO as Volkswagen brand chief
Volkswagen CEO Herbert Diess will promote Porsche CEO Oliver Blume to become head of the Volkswagen brand as part of a broader management reshuffle, Auto Motor und Sport stated on Tuesday citing company sources. Blume will be shifted to the VW brand to help the automaker find a grip on production issues with the VW […]
Cruz on the Port Orchard Waterfront car show canceled over coronavirus
The annual Cruz car show on the Port Orchard Waterfront is the recent significant summer event canceled because of coronavirus. “The Saints Car Club of Port Orchard has made the difficult decision to postpone ‘CRUZ 2020’ until August 8, 2021,” the club declared Tuesday. Organizers mentioned public health concerns related to coronavirus together with concerns […]
Man accused of plowing his car into Chicago cop car
A man who allegedly crashed his vehicle into a Chicago police vehicle while trying to get away from officers during enforcement of Mayor Lori Lightfoot’s curfew is now dealing with a federal gun charge. Same has happened to a man spotted leaving a store through a broken window early Monday morning. They’re among those people whose […]
China auto sales increased for second straight month
China’s vehicle sales are estimated to boost 11.7% on year in May, its top auto industry body stated on Tuesday, increasing hopes of a recovery in the world’s biggest auto market with the first back to back monthly sales boost in about two years. The China Association of Automobile Manufacturers (CAAM), in a post on […]
Nissan sees cost of quitting Barcelona site at up to $1.7 billion
Nissan Motor has estimated the shut down of its plants in Barcelona could cost up to around 1.5 billion euros ($1.7 billion), a union source informed Reuters on Monday. The cost of the shut down is at the heart of a debate in Spain over the move, with the Spanish government saying it would be […]
General Motors and Ford condemn George Floyd death, racism
General Motors and Ford Motor condemned racial inequality in the United States after the death of George Floyd, an unarmed black man, allegedly at the hands of police in Minneapolis last week. In a letter to workers, GM CEO Mary Barra wrote she was “impatient and disgusted” after the death of Floyd and emphasized the […]
Renault finalizes 5 billion euro state-backed loan
Renault finalized a 5 billion euro ($5.60 billion) loan on Wednesday from with the French government, boosting the automaker’s finances following the coronavirus crisis which has damaged the auto industry. Renault said that the credit facility carried a guarantee from the French state – which holds a 15% stake in Renault – of up to […]
Volkswagen closes $2.6 billion investment in Argo AI
Volkswagen has closed its $2.6 billion investment in self-driving startup Argo AI, who is based on Pittsburgh. The automaker disclosed in a blog post on Tuesday. Argo, established in 2016 by Bryan Salesky and Peter Rander, is now jointly controlled by Volkswagen and Ford Motor, which made an initial investment in Argo after it was […]
U.S. court declines to shield Volkswagen in diesel scandal lawsuits
A U.S. appeals court ruled on Monday that German automaker Volkswagen AG cannot escape possible financial penalties from two counties in Florida and Utah that may amount to a “staggering” extra liability arising from the automaker’s diesel emissions scandal. The unanimous ruling made by a three-judge panel of the 9th U.S. Circuit Court of Appeals, […]
Indian automakers offer teaser loans as RBI softens stance
Maruti Suzuki, Hyundai and Mercedes Benz are providing Indian auto buyers “teaser loans”, a move that sources stated came after softening of the central bank’s stance because of a coronavirus-induced economic slump. Although the Reserve Bank of India (RBI) never prohibited teaser loans, which provide low interest rates for a limited period before jumping, its […]
