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Toyota Motor Corp. the largest Japan carmaker said the company felt a sense of crisis as the company braced for two consecutive years of falling profits and Toyota would streamline operations to bolster margins. The company’s operating profit tumbled 20 percent to 438.9 billion yen ($3.94 billion) in the carmaker’s fiscal fourth quarter ended March 31. Net income slid 6.6 percent to 398.4 billion yen ($3.58 billion), the company said Wednesday while announcing full-year earnings results. Revenue increased 6.8 percent to 7.44 trillion yen ($66.87 billion). Global retail s...
China isn’t the only one beating U.S. when it comes to car sales and car production Europe is on its way to do the same. While slowing U.S. sales have hit Ford, its French rival Renault is doing better than ever by reporting a strong performance in Europe, suggesting the European market stays great. US car sales are expected to fall this year from 2016’s record levels, while Europe’s are forecast to rise slightly, in spite of near-record sales last year. Ford announced first-quarter earnings sharply down on the year, with pre-tax profit falling $1.5bn to...
China's Zhejiang Geely Holding Group has delayed Lynk & CO's sales launch in Europe and the United States because it needs more time to establish a company-owned dealership network. Alain Visser, Lynk & CO's senior vice president of marketing and sales, said that they will start in Europe between the first quarter and the first half of 2019 and enter the U.S. some months later. Originally, Lynk planned to debut in both markets in late 2018, starting with sales of the 01 compact crossover. Volvo Car Corp.’s sister brand also revealed this week that Berlin a...
Even though U.S. is not in a recession that’s exactly what dealerships are doing nowadays. As a percentage of a dealership's total gross, profits fell in the new- and used-vehicle departments, but rose in service and parts. The profit gains come after about a third of all U.S. light-vehicle dealerships expanded their service departments by at least one bay in the past 18 months to capture more service revenue. And with new- and used-vehicle price competition remaining intense. Going into a sales plateauing year, customer loyalty is going to be very key for dealers. That lo...
What else could be considered as the best present for Volvo on its 90th birthday?! If you don’t know yet than we’ll give you a hint, it’s something related with “sales”. Now, the answer is more visible right?! Well, Volvo wasn’t always here, it fought a lot for the right of being where it is now. Since 2014 Volvo has annually set a new global sales record, a streak it expects to continue in 2017 by topping the current high of 534,332 that was reached last year. The automaker's profit margin has improved 6.1 percent in 2016 compared with a 4 p...
