An ongoing strike of workers at General Motors could cost the automaker about $1.5 billion, brokerage Credit Suisse stated on Friday, moving the U.S. automaker’s cost reduction plans off the track and forcing key providers to slash their 2019 outlook. The brokerage has assumed the strike by the United Auto Workers (UAW) union, presently in […]
UAW union pushes GM to increase U.S. auto production
The United Auto Workers (UAW) union’s leading negotiator in discussions with General Motors to resolve a three-week long strike. “We have made it clear that there is no job security for us when GM products are made in other nations for the purpose of selling them here in the U.S.A.,” UAW Vice President Terry Dittes […]
Nissan to hire Uchida as next CEO, Gupta as COO
Nissan Motor named the head of its Chinese business as its next CEO on Tuesday, selecting an executive known for close relations to top shareholder Renault. By picking Senior Vice President Makoto Uchida, Nissan’s board has gone with someone slightly at odds with its standard corporate culture. He joined the automaker mid-career in 2003, a […]
Russia’s car exports increase 27.8% in eight months
Exports of cars from Russia in January – August 2019 boosted by 27.8% compared to the same duration last year to 73,400 cars, according to the Federal Customs Service. Exports of trucks are almost at the same level and amounted to 8,400 vehicles. In value terms, export of passenger cars were at $1 billion (boost […]
Ex Ford and Tesla officials join German electric van maker
The German electric van maker StreetScooter has recruited executives from Tesla and Ford to assist drive its worldwide expansion. Peter Bardenfleth-Hansen, who worked in Tesla’s first European Tesla team, and Ulrich Stuhec, has joined the Streetscooter, the company stated in a news release. Streetscooter is a subsidiary of the German company Deutsche Post. Bardenfleth-Hansen is going […]
General Motors laying off 415 workers in Mexico as strike continues
General Motors stated Monday it is temporarily laying off another 415 employees in Mexico as a strike by 48,000 U.S. hourly workers enters its fourth week. GM stated it had partially idled its Ramos Arizpe propulsion plant, with the V8 engine line and the CVT transmission line not in operation. The plant keeps building engines […]
Lincoln Continental Coach Door Edition return for 2020
Lincoln assured there would be more Continental Coach Door Editions on its way, and it’s followed through. After the first round of models constructed for the 2019 model year, the suicide doors return for 2020. The luxury brand stated on Friday that the 2020 Lincoln Continental Coach Door Edition order books open before they would close at the […]
Court strikes down ruling forcing Volkswagen to pay Czech consumers damages
The Prague City Court ruled on Thursday to strike down an order for Volkswagen to pay Czech consumers over 500 million crowns ($21.27 million) in damages for the Dieselgate affair, news website www.idnes.cz reported. It stated the court invalidated a lower court decision on procedural grounds and sent the case back to the lower court […]
Volkswagen registers unit in Turkey prior production decision
Volkswagen has a subsidiary now in Turkey’s western Manisa province, the country’s Trade Registry Gazette revealed on Wednesday, as the company gets close to a final decision on the location for its new production plant. The Turkey unit is going to have 943.5 million lira ($164.21 million) capital and the parent company had paid a […]
Insurance Company Behind Your Back to Play Safe
You are always on the road every day, and surely you need an insurance company behind your back to play safe. Accidents happen, and they often cost you a lot of money either for vehicle repair, medical payments, or any lawsuit you are probably involved. Every company promises to give the best coverage and price […]
Hyundai, Kia sue four big U.S. railroads for fuel surcharges
Hyundai Motor and its Kia affiliate have taken legal action against the four largest U.S. railroads, alleging them of violating U.S. antitrust law by conspiring to drive up shipping costs though coordinated fuel surcharges. The South Korean automakers submitted three lawsuits on Monday alleging BNSF, CSX Corp, Norfolk Southern and Union Pacific of putting the […]
Best Ways to Travel Around New York
They say that New York is the city that never sleeps. It’s busy 24 hours a day, and there’s a lot to do, so what’s the best way to travel around the Big Apple? There are so many ways to get around that we have nailed it down to, what we believe, are the best […]
Volkswagen turns down judge’s call to settle German class action on emissions
Volkswagen this week rejected a German judge’s call to settle a customer class action lawsuit that concerns its rigging of diesel emissions tests, stating there was no case to answer. VW admitted utilizing illegal software to cheat U.S. diesel engine tests in 2015, a scandal which has cost it over $30 billion in vehicle refits, […]
FCA to pay $40 million over inflated sales figures
Fiat Chrysler Automobiles NV and its U.S. unit is set to pay $40 million for misleading investors regarding its monthly sales figures and will resolve a lengthy probe by the U.S. Securities and Exchange Commission (SEC). During a five-year period from 2012 through 2016, Fiat Chrysler’s U.S. unit used a series of misleading moves to […]
BMW is not interested in settling EU cartel investigations
German automaker BMW has no interest in settling an investigations by the European Union antitrust officials against the company and other German automakers, German magazine WirtschaftsWoche reported on Friday, mentioning company sources. In April, EU cartel regulators had charged BMW, Daimler and Volkswagen for colluding to block the rollout of cleaner emissions technology from 2006 […]
