GM said it was considering cost cuts in Europe to offset up to $400 million of potential headwinds triggered by Britain's Brexit vote, calling into question the carmaker's ability to return Opel and Vauxhall to a full-year profit.
News
21 Jul, 2016
Special road-going version of Star Wars X-Wing spaceship has been created by Hot Wheels to show off at San Diego Comic-Con
General Motors has substantially beaten expectations with second quarter 2016 results including record earnings per share (EPS) of US$1.86 (up 44% year on year and ahead of forecast by $0.35) on revenue up 11.1% to $42.4bn ($3.47bn better than expected) and net income up 157% to $2.9bn. GM Europe finally moved back into profit for the first time in five years.
GM reported its first quarterly profit in Europe in five years on Thursday, but the automaker warned that currency and market disruptions caused by the UK's decision to quit the EU could slash $400 million from second-half results in the region.
BMW has appointed Markus Duesmann, its former Formula One powertrain boss and current engine guru, to the company's management board as head of the purchasing and supplier network.
General Motors' strategy of focusing on retail sales in North America paid off in the second quarter, with net income more than doubling from the year-earlier quarter. GM reported overall net income of $2.87 billion in the second quarter, up from $1.
Tesla chief Elon Musk's just-announced Master Plan, Part Deux, announced in the US last night (20 July) has attracted a mixed reaction from some US auto industry analysts.
Malaysia's new vehicle market was largely unchanged in June, with sales falling just slightly to 57,358 units compared with 57,436 in the same month of last year, according to data released by the Malaysian Automotive Association (MAA).
The new vehicle market in Indonesia continued to recover in June, with sales rising by 11.3% to 91,500 units from 82,200 units a year earlier, according to data released by the automotive industry group Gaikindo.
Daimler has posted record figures for unit sales and EBIT adjusted for special items in the second quarter of 2016.
News
21 Jul, 2016
Impressive Forza Horizon 3 car list includes everything from a BAC Mono to a Vauxhall Astra
Daimler CEO Dieter Zetsche said he did not expect the UK's decision to leave the European Union to have any impact on demand for vehicles.
Volvo is confident of reaching record sales and earnings for the full year after it reported half-year operating earnings rose to 5.59 billion Swedish crowns ($649.8 million) up from 1.66 billion in the same period last year.
News
21 Jul, 2016
New research shows punctures and flat batteries cause the most trouble to motorists when it comes to car breakdowns
News
21 Jul, 2016
Concern over unsecured Wi-Fi at dealerships that could result in card details being stolen
Daimler reported weaker profit from its Mercedes Cars unit in the second quarter because of the cost of refreshing its lineup and one-time charges related to recalling cars with faulty Takata airbags. The unit's profit margin dropped to 6.
Mitsubishi Motors will reveal what it terms a 'small crossover MPV concept car' at the Indonesia International Auto Show 2016. A production model will be one of the main products of a new 240,000 units per annum plant which MMC is presently building in Jakarta's satellite city Bekasi.
There were global debuts from Daihatsu, Isuzu, Mitsubishi and Toyota at the 2016 Gaikindo Indonesia International Auto Show.
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