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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...
If you think that electric-vehicle startups like Tesla would push mainstream automakers out of the EV game, think again. In fact, General Motors has had such strong demand for the Chevy Bolt that it had to increase production. In its financial reports for the first half of this year, GM confirmed that it’s ramping up production of the electric hatchback by 20 percent thanks to strong demand in the US, Canada, and South Korea. Global sales of the Bolt have been up more than 40 percent from January through June of this year. Chevy sold 7,858 units of the Bolt just in the US so f...
As the automotive industry becomes more global, automakers try to be competitive through any means possible. Some companies are very particular about which suppliers they use, others have decided to join their efforts to simplify and improve their products. Automotive News Europe reports that Japanese car makers are following suit to develop their own new transmission technology. The country’s nine automakers, including Honda, Mazda, Nissan, Subaru, Toyota, and others, will partner with the country’s two largest transmission suppliers to jointly develop next-generation t...
Electric car sales around the world rose by 54 percent in 2017, taking global stock across the three-million threshold, the International Energy Agency said in a report. In China, the world’s biggest market for electric vehicles, sales grew by about half – but their market share remained small at 2.2 percent. In Norway, electric vehicles have by far the world’s highest market share with 39.2 percent according to the IEA. The Paris-based agency was optimistic about the sector’s prospects saying that supportive policies and cost reductions are likely to lead to...
A new report says that electric car sales are expected to massively increase in the next years, reaching 55 percent of global new car sales by 2040, replacing 7 percent of gas and diesel consumption. Sales of electric cars have just managed to top 1.1 million per year, but the report from Bloomberg New Energy Finance suggests that they are set to grow to 11 million in 2025 and topping 60 million vehicles, which will be about 55 percent of the new car market, by 2014. The prediction is that electric vehicles will replace 33 percent of the total global car fleet by then. Helping to le...
