Month: July 2019

TOKYO — Panasonic Corp. reported its fiscal first-quarter operating profit nearly halved, as trade tensions dampened demand for its components business in China and the battery business with Tesla Inc. remained in the red. The China-U.S. trade dispute is making it more difficult for Panasonic to execute its strategy of shifting focus to corporate clients and automakers from
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It’s back! The World’s Greatest Drag Race returns with nine of the world’s best supercars, sports cars, and muscle cars for 2012 facing off in an epic quarter-mile sprint for glory… and ultimate bragging rights! This year’s field includes all nine contenders from Motor Trend’s 2012 Best Driver’s Car competition. We have the Lamborghini Aventador,
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Fiat Chrysler Automobiles stuck to its full-year profit guidance on Wednesday after it posted record results in North America and a small profit in Europe helping the automaker defy an industry slowdown. In its first earnings release since a failed attempt to merge with France’s Renault, FCA said its was confident its adjusted earnings would
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Santander Consumer USA boosted its bottom line by improving its business with Fiat Chrysler Automobiles, including revising their partnership. Now it has a new CFO, who had a hand in those negotiations, as well as a new head of relations with the No. 3 U.S. automaker. Fahmi Karam, head of pricing and analytics for Santander
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DETROIT — UAW Local 909 leaders and workers told reporters Tuesday that General Motors’ Warren, Mich., transmission plant will close in three days, leaving about 100 workers without jobs. GM said all displaced workers at the plant will have opportunities to transfer to other GM operations. The company’s plant closings could be a major issue
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ZURICH — Swiss prosecutors said on Tuesday they are assisting Japanese authorities in their investigation into former Renault-Nissan-Mitsubishi boss Carlos Ghosn, who faces charges of fraud and misconduct. Ghosn, who has denied wrongdoing and is free on bail as he awaits trial, is pursuing claims against Nissan and Mitsubishi Motors. Both automakers ousted him from
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Sonic Automotive Inc. has named two new members to its board of directors, including the company president, as the nation’s fifth-largest dealership group increases its board size from eight directors to 10. Sonic President Jeff Dyke and Marcus Smith, CEO of Speedway Motorsports Inc., were named to Sonic’s board last week. Their terms will expire
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Lithium miners are bulking up for a booming future when electric vehicles go mainstream. But speed bumps loom, with prices tumbling on a burst of new production and demand growth slowing in China. Between mid-2015 and mid-2018, prices for lithium, the soft, silvery-white metal crucial for rechargeable batteries, almost tripled as the world’s fleet of electric
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LOS ANGELES — Once upon a time, automotive marketing executives spent lots of money on advertising but had little idea whether they were converting those eyeballs into buyers. The salespeople were generating the revenue. But the Internet broke that, says Dean Evans, chief marketing officer for Hyundai Motor America. And now he’s the revenue chief.
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Ever since the Hyundai Santa Cruz concept pickup debuted, we’ve wondered whether Kia will also enter the segment. With development of the Hyundai well underway, it was only a matter of time until the Korean automaker spilled the beans. Now, it finally has. Kia Australia’s Chief Operating Officer Damien Meredith has confirmed to CarsGuide that
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LEESBURG, Va. — After years of preaching patience while it transformed a sedan-heavy lineup, Cadillac now boasts fresh offerings for America’s crossover-crazed consumers. But Cadillac dealers, having endured three years of declining sales and the ousting of President Johan de Nysschen in 2018 just as his product blitz was beginning, may have still longer to
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