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The profit of the Japanese automaker- Toyota has increased 43% in the latest quarter as cost-cutting, lower selling outlays and falling warranty expenses offset unfavorable foreign exchange rates and helped the automaker to have a record full-year net income.Operating profit rose to 629.6 billion yen ($5.93 billion) in the carmaker’s fiscal fourth quarter ended March 31, while net income advanced 21 percent to 480.8 billion yen ($4.53 billion). Revenue rose 1.9 percent to 7.58 trillion yen ($71.36 billion). Global retail sales increased 2.2 percent to 2.6 million vehicles in the January-...
Electric automaker Tesla is the subject of a lawsuit filed by Nikola Motor Co, an automaker that makes hydrogen-powered semi trucks, alleging design patent infringements. Tesla’s Semi is the first electric heavy-duty truck and it’s similar to Nikola’s design.Utah-based Nikola says that it was issued six design patents by the U.S. Patent and Trademark Office for its fuselage, wrap windshield, mid-entry door, side cladding, and the overall design of the Nikola One. Nikola estimated the harm from Tesla’s alleged infringement to be more than $2 billion. Tesla’s spokes...
Maserati North America Inc. is recalling more than 1,000 of its newest luxury cars to fix leaky fuel pipes that increase the potential for an engine fire. The 2018 Ghibli and Quattroporte sedans – with prices starting at $73,050 and $105,600, respectively – have a faulty fuel delivery pipe in the engine compartment that may leak gasoline. The cars haven’t yet been delivered to customers, and they’ll be fixed before individuals are able to drive off with them, according to Matteo Sardi, a spokesman for the carmaker. The company said the flaw, caused by a part...
Although Infiniti is already one of the fastest growing luxury car brands, it aims to give itself a bigger boost with a technology-laden crossover that one executive calls the most important vehicle in the brand’s history. The redesigned QX50, scheduled to reach dealerships in the first quarter of 2018, is the world’s first production car with a variable-compression engine, using technology that Nissan Motor Co. has been working on for about 20 years. The 2.0-liter, four-cylinder turbo increases the vehicle’s fuel economy to a combined rating of 27 mpg for the fro...
As aggressive incentive spending continues to sustain a robust autumn, automakers are projected to report car sales growth for November. Forecasts from J.D. Power/LMC Automotive, Kelley Blue Book and Edmunds call for a seasonally adjusted, annualized selling rate ranging from 17.1 million to 17.8 million, which would represent a drop-off from the rates topping 18 million that were posted in September and October. The projections are split on how sales volume will compare with a year ago, with estimates ranging from a 1 percent decrease to a 3.5 percent increase. Automakers are due t...
