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Mitsubishi’s operating profit reached $253.9 million in the fiscal first quarter. It means the company’s profits jumped 36% in the latest quarter as the automaker's rebound gathered speed on rising sales in every key market.The robust results were buoyed by new vehicles such as the Eclipse Cross and Outlander PHEV crossovers in the United States and the Xpander MPV in Southeast Asia. Looking ahead, Mitsubishi kept its earnings outlook unchanged. It expects worldwide operating profit to increase 12 percent in the current fiscal year ending March 31, 2019, while net income inches...
Soon, it will be very important to know where your next car was assembled, because the US is in the midst of a massive trade war. Just because your car was built in the US, doesn’t make it safe from tariffs. As Automotive News reports, automakers may be forced to spread price increases from tariffs across their entire model range. Many people seem to be confused about how US-built cars could possibly be affected by Trump’s tariffs. Automakers plan to minimize the impact of the tariffs by spreading out price increases across their lineup. Some automakers such as Jaguar, L...
BMW has been showing strong sales numbers over the past year across its range, but electrified vehicles have really taken a jump. According to BMW, compared to the same month last year worldwide electrified vehicle sales have shown an increase of 47.6 percent. This means that 13,806 BMW I, iPerformance and Mini electric vehicles found new homes. It is only a small fraction of the 200,000+ cars BMW sells each month but it is a big improvement, none the less. The situation is changing rapidly though. A member of the board of management at BMW estimated that by 2025 up to 25% of all ca...
Last Friday, the trade war between China and the US kicked off, as US President implemented a 25% tariff on $34 billion worth of Chinese goods. China has already retaliated with an increase in electric car tariffs from 15% to 40%. This means that cars that are imported into China will now be more expensive. According to The Wall Street Journal, Tesla had to raise its prices in China. The Model X now costs $140,000, which is a significant increase over the old $117,100 price. The Model S now costs $128,400, an increase of about $21,000 compared to the old price. Elon Musk, Tesla CEO,...
Imagine walking into a dealership to buy a new car and discovering that your preferred vehicle suddenly costs up to $5,000 more than it did not long ago. This situation could happen if President Donald Trump succeeds in raising tariffs on imports. If he does and other countries respond to it, we’re looking at a potential 25 percent tariff which will result in increased vehicle prices regardless of automaker. The average new vehicle sold in the US with various discounts factored in costs about $32,000. The 25 percent tariff will be passed down to the consumer resulting in a pri...
