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Automotive industry

  • Land of the car? Trump slams Ford for backing stricter emissions rules

    August 22, 2019

    Donald Trump has found a new target for his Twitter ire: the global automotive industry. The US President yesterday mounted a series of attacks on car makers for snubbing his plan to roll back Obama-era fuel efficiency rules, singling out Ford for instead siding with a California state deal which proposes stricter emissions standards. Read [...]

  • Automotive supplier SGL shares drop a third as chief quits on profit warning

    August 15, 2019

    SGL Carbon, a major supplier to Germany’s car industry, has suffered a double blow as its chief executive threw in the towel over flawed business planning on the same day as a profit warning. Chief executive Juergen Koehler will step down at the end of August, he announced, as the company said it expected adjusted [...]

  • Car sales stagnate again in July but electric vehicle market share surges

    August 5, 2019

    New car sales were hampered last month by confusion over Brexit uncertainty and the government’s future policies over plug-in hybrid electric cars. The British new car market shrunk 4.1 per cent in July, its fifth straight month of decline, according to the Society of Motor Manufacturers and Traders (SMMT). Read more: Car industry investment grinds [...]

  • Brexit warnings reach fever pitch as BMW and Ford sound the alarm

    August 1, 2019

    BMW and Ford have become the latest manufacturing giants to warn Prime Minister Boris Johnson about the perils of a no-deal Brexit. Speaking to journalists this morning, BMW boss Harald Kruger said a no-deal would be a “lose-lose” scenario for Britain and the EU. He offered to personally deliver his portent to the new PM. [...]

  • Fiat Chrysler defies global car industry woes, beating analyst forecasts

    July 31, 2019

    Car manufacturing giant Fiat Chrysler surprised markets today by sticking to its full-year profit forecast after strong sales in its US pickup truck division helped defy an industry slowdown. The earnings were the car maker’s first since it failed to merge with Renault in June. Read more: Car industry investment grinds to a halt as [...]

  • Ex-Audi chief Rupert Stadler faces criminal charges for his role in dieselgate scandal

    July 31, 2019

    Former Audi boss Rupert Stadler has been charged for his part in Volkswagen’s emissions cheating scandal, known as dieselgate. Read more: Former VW boss Martin Winterkorn faces criminal charges for emissions scandal The Munich public prosecutor’s office said this morning that it has charged Stadler and three others with false certification and criminal advertising practices.  [...]

  • In a spin: Aston Martin suffers £78m first half loss as shares hit record low

    July 31, 2019

    Aston Martin shares plumbed new depths this morning as the firm reported a first half loss of £78.8m, blaming a slowing global market and tumbling UK and European sales. Read more: Ex-Audi chief Rupert Stadler faces criminal charges for his role in dieselgate scandal The troubled car maker is still reeling from a profit warning [...]

  • Car industry investment grinds to a halt as Brexit uncertainty cripples sector

    July 31, 2019

    Investment into Britain’s car manufacturing industry has come to a near-standstill, as companies divert hundreds-of-millions of pounds towards mitigating a potential no-deal Brexit which they fear will plunge the sector into chaos. Inward investment into the sector plummeted more than 70 per cent to just £90m in the first six months of the year, according [...]

  • Volkswagen and Ford strengthen ties by teaming up on electric and self-driving cars

    July 12, 2019

    Two of the world’s biggest car makers, Volkswagen and Ford, have moved their existing commercial partnership up a gear this afternoon to collaborate on electric cars and self-driving cars. Read more: Ford gears up to announce up to 550 job losses for UK office workers amid turnaround efforts The firms are looking to pull ahead [...]

  • Daimler in fourth profit warning of the year over airbags and diesel emissions

    July 12, 2019

    Daimler, the German car giant that owns Mercedes, this morning issued its fourth profit warning of the year after it unearthed fresh financial risks surrounding its diesel emissions scandal. The car maker made a similar warning on June 23, but it has reassessed the risk of fines from court battles and government measures. These have [...]

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