Renault’s Senard to meet Nissan CEO Saikawa this week
Renault’s chairman will meet Nissan’s CEO this week in Japan as they look forward to cement their collaboration after the elimination of former alliance leader Carlos Ghosn, the Japanese automaker stated on Tuesday. Jean-Dominique Senard, named chairman of the French automaker last month, is going to visit Nissan’s headquarters located in Yokohama to meet the
Renault: Carlos Ghosn remains director of Renault
Carlos Ghosn is still a director of Renault SA even though he has resigned as chairman and chief executive and Thierry Bollore is now chairman of the Renault-Nissan, Renault stated on Tuesday. “In addition to the Board of Directors’ communication of January 24, 2019, Renault wishes to mention that Mr. Ghosn resigned from his terms
- Published in Renault
Nissan Motor books $84 million Ghosn-related charges
Nissan Motor stated it had booked about $84 million in charges associated to under-reported compensation for former chairman Carlos Ghosn, and cut its yearly profit outlook on weaker worldwide sales. Ghosn, arrested and detained in Tokyo since November 19, has been indicted in Japan on charges of under-reporting his income at Nissan over 2010-2018. He
- Published in Nissan
T. Rowe Price reduces stake in Tesla to 5.2 percent
Tesla Inc shareholder T. Rowe Price Group Inc had a 5.2 percent stake in the electric car maker as of end-December, approximately half its earlier stake, a regulatory filing on sec.gov revealed on Monday. As of September, the company had a 10.12 percent stake in Tesla. Shares of Tesla increased 3 percent at $315.16 during
- Published in Tesla
4 Tips In Buying Canandaigua Used Cars
There are so many choices available in the market, finding the right second-hand car can be a bit of a challenge. It is wise to check on the details in buying used cars first. You may visit this site to find helpful information that you may need. To make sure that you’ll not end up
- Published in Cars
Driver hit by own car as lorry ploughs in to it
A driver was hit and hurt by his own broken-down car after a lorry ploughed into it. The car had come to a standstill on the inside lane of the A421 close to Great Barford, Bedfordshire, at 07:10 GMT. “Luckily the driver was out of the vehicle” when it was “hit by an HGV who
- Published in Press Releases, UK
German prosecutors looks into possible fine for supplier Bosch
Prosecutors in Stuttgart, Germany, are looking into a possible fine for auto supplier Robert Bosch for dealing Volkswagen with engine management software that the automaker used to cheat vehicle emissions tests. Volkswagen has paid out over 27 billion euros ($31 billion) in fines for using illegal software to disguise excessive levels of pollution from its
- Published in Volkswagen
Fiat Chrysler paid $77 million in U.S. fuel economy penalties
Fiat Chrysler Automobiles NV stated on Thursday it paid $77 million in U.S. civil penalties late last year for not meeting 2016 model year fuel economy regulations, the first major sign the industry is facing hurdles meeting increasing emissions rules. The Italian-American automaker has been lobbying the Trump administration to modify fuel economy regulations and
Renault to alert prosecutors about Ghosn’s wedding costs
Renault has discovered evidence that it paid part of ex-CEO Carlos Ghosn’s wedding costs and is planning to turn the investigation over to prosecutors, two weeks after the automaker’s eliminated Ghosn from the board. An internal investigation established that a 2016 sponsorship deal with the Chateau de Versailles consisted a 50,000 euro ($57,000) personal benefit
Ford investing $1 billion, generating 500 jobs in Chicago
Ford Motor stated on Thursday it is investing over $1 billion in its Chicago operations and adding 500 jobs as it plans to launch three new SUVs this year and stop producing the Taurus. Ford stated it is constructing a new body shop and paint shop at its Chicago Assembly plant, and making significant modifications
- Published in Ford, Press Releases
France denies report on Renault-Nissan stakes
France’s finance ministry reject a report from Japanese news outlet Nikkei that the French government had told Tokyo it was open to consider reducing Renault’s stake in Nissan Motor. Contact by Reuters, an official stated the ministry “categorically denies” such report, which also noted the French government had raised the possibility of decreasing its stake
Renault should show ‘total transparency’: Bruno Le Maire
French automaker Renault must show “total transparency” as it investigates its business practices, including a sponsorship deal stuck with the Chateau de Versailles, finance minister Bruno Le Maire stated on Thursday. “The audit into Renault has begin, it is beginning to bring out results, I had personally demanded that audit,” Le Maire added informed the
- Published in Renault
GM’s high-margin pickup trucks and small SUVs generate profits
General Motors on Wednesday reported a quarterly profit that surpassed Wall Street expectations, due to high-margin pickup trucks and small SUVs in the U.S. as well as cost cutting. The whole GM’s profit came from North America, where those lucrative models assisted overcome a drop in the number of vehicles it sold. The company’s operations
- Published in General Motors
Daimler cuts dividend as lower sales, R&D costs hit Mercedes
Daimler slashed its dividend on Wednesday after fourth-quarter operating profit plunged by 22 percent, due to trade wars, increasing costs for developing electric cars and an industry downturn that has dented even the most profitable automakers. Daimler stated the return on sales at Mercedes-Benz cars dropped to 7.3 percent in the fourth quarter from 9.5
- Published in Daimler
China sales marks Toyota’s profit while U.S. weakness continues
Toyota Motor’s quarterly profit edged up as demand for its car models from cost-conscious Chinese customers helped offset bleak North American sales, although the company’s shares slipped as it cut its yearly net income outlook. The automaker attributed the smaller forecast to unrealised losses from equity investments, but, in a sign that business was still
- Published in Toyota