Renault stated on Thursday an audit launched following the arrest of Chairman and CEO Carlos Ghosn had so far discovered no irregularities with his pay at the French automaker. Renault’s statement, launched after a five-hour board meeting, did little to resolve the standoff with alliance partner Nissan Motor, which accused Ghosn of far-reaching financial misconduct
President Donald Trump on Thursday stated General Motors decision to move much of its focus to electric vehicles will not succeed, and he said a new trade deal will make it harder for the company to shift work to other countries. GM last year stated it prepared to release 20 new electric vehicles by 2023 as
A Brazilian appellate judge on Thursday granted former Nissan Chairman Carlos Ghosn access to a Rio de Janeiro apartment, whose contents have seen an intense legal battle in regional courts. The court decision stated Ghosn or his representatives have 24 hours to retrieve personal belongings. Nissan has protested this because the automaker states they may
Ford’s rejection of a rescue deal for the Blanquefort site located in France represented a “betrayal” by the U.S. automaker, stated French finance minister Bruno Le Maire on Thursday. “I am revolted, I am sickened by this decision whose only justification is for Ford to get its shares to increase on the stock market,” Le
Fiat Chrysler (FCA) could reconsider its 5 billion euro ($5.7 billion) Italian investment plan, which consists of a shift to cleaner engines, if Rome increases taxes on petrol and diesel cars. “Were these measures to be confirmed as of 2019, a thorough examination of their effect and an update to strategies already announced would be
Czech automaker Skoda Auto, part of the Volkswagen Group, delivered 1.149 million vehicles in the January-November duration, a 5.1 percent increase from a year ago, it said on Thursday. Deliveries in November alone dropped 3.9 percent, mostly because of declines in China, the automaker’s largest market.
Toyota Motor stated on Wednesday it is advancing by a year plans to replace Takata airbags in about 65,000 Toyota and Lexus vehicles in the United States it had previously replaced. The Japanese automaker’s U.S. subsidiary stated the recall is being declared a year ahead of the December 2019 timeline and would involve replacing Takata
Renault informed alliance partner Nissan to stop contacting the French company’s directors prior a Thursday board meeting as the Japanese automaker tried to share evidence of misconduct by its ousted chairman Carlos Ghosn, two sources stated. Ever since Ghosn’s November 19 arrest in Japan, Renault and the French government, the automaker’s biggest shareholder, have looked
Hyundai Motor plans to issue funding worth 1.7 trillion won ($1.5 billion) to stabilize management of its providers, the company stated on Thursday. The funding is designed to also encourage research and development and innovation by the suppliers.
An Argentine court on Tuesday convicted two ex-executives of a local Ford Motor plant of involvement in the torture of employees during the country’s dictatorship in the 1970s, victims’ lawyers stated, adding they may sue the automaker in U.S. federal court. This is first time ever that former executives of a multinational company employed in
Hyundai Motor on Tuesday started South Korean sales of its Palisade large sport utility vehicle (SUV), a model it hopes would spearhead a sales recovery in the United States when released in its major overseas market next year. Consumer preferences have shifted swiftly to SUVs in recent times, impacting Hyundai with its sedan-heavy line-up. The
White House officials informed automakers after a U.S.-China trade call that the Trump administration believes China will cut tariffs on U.S. autos to 15 percent from the current 40 percent, an auto executive stated on Tuesday after being briefed on the earlier evening’s call. The executive informed Reuters the United States had not received any
A Tokyo court on Tuesday turned down former Nissan Motor chairman Carlos Ghosn’s appeal to end his detention after his arrest last month on alleged financial misconduct. Ghosn has been held in a Tokyo jail since he was arrested on November 19 on suspicion of conspiring to understate his earnings by about half of the
Ford stated it had begin negotiations with German worker representatives regarding possible job cuts at its Saarlouis plant as the automaker considers discontinuing production of its Ford C-Max model. “We can confirm that we are moving into formal negotiations with our Works Council with the objective of ending production of C-Max/Grand C-Max at Saarlouis,” Ford
Hyundai Motor’s two vice chairmen in charge of research and development (R&D) have offered to resign, three people knowledgeable with the matter informed Reuters. R&D president Albert Biermann is likely to be selected as the new head of the division, two of them said, refusing to be named as they are not authorized to discuss