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As pressures mount on the industry despite rising vehicle sales, climbing technology costs, raw materials and global currency shifts ate into profits at the world’s carmakers. The US car market seems to recover, thanks to the sales increase in the first quarter.German groups Volkswagen and Daimler saw material and commodity costs deflate their earnings, while smaller operators Volvo and Mazda flagged rising technology and marketing spending for their profit drops. The outlay from launching new vehicles also took tolls on Fiat Chrysler, General Motors, Volvo and Daimler, with higher marke...
Ford Motor announced Wednesday that it’s killing sedans from its U.S. dealerships, exception making only its legendary Mustang. By saying good buy to Focus, Fusion, Fiesta, and Taurus, it will double down on trucks and sports utilities. The Focus nameplate will stick around, only in the form of a crossover utility. Ford is not alone, though. Fiat Chrysler Automobiles already cut the Dodge Dart and Chrysler 200, focusing on more profitable Jeep SUVs and Ram pickups. General Motors has been reducing its sedan production, also, cutting back on its Cruze compact production. C...
Only a few hours left until General Motors reports its first-quarter 2018 earnings results, and here’s what to expect. Analysts think GM will report first-quarter earnings of $1.28 per share, on average, down from $1.75 in the first quarter of 2017. They expect GM's revenue to come in at $34.6 billion, down from $41.2 billion a year ago.The reason of the huge drop is that GM sold its European subsidiary, Opel AG, in a transaction that closed early in the third quarter of 2017. On a "continuing operations" basis, excluding Opel's results, GM generated $37.3 billion ...
China and the U.S. might not be in th eir best relationship nowadays, but that doesn’t mean BMW will give up its sales goals. BMW will export its first full-electric SUV, called the iX3, to global markets after it goes into production in 2020 at its joint-venture plant in China. The iX3 project makes BMW the first major luxury-car maker to ship high-tech vehicles from China, in a sign consumers no longer equate the country with cheap products. It positions the Shenyang site to supply SUVs to the U.S., the second-biggest market for BMW, even with the question of higher Ame...
Last fiscal year the sales of Nissan surged 10%, driven by growing customer demand for the zero-emission Nissan LEAF, the world’s best-selling EV. Across all the major markets: Japan, Europe and the U.S., this electric car posted robust sales growth in the fiscal year that has ended on March 31.Demand is expected to keep rising as customers embrace the new, second-generation Nissan LEAF, which offers increased range and new, advanced technologies. Sales of the redesigned model, introduced in October 2017, are gaining traction in Japan and the U.S. The all-new LEAF is set to go on sa...
