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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-...
Ford Motor Co. said that it will halt production of its top-selling F-150 and Super Duty pickup trucks at some of its U.S. plants following a fire at a Michigan plant that produces instrument panels. The truck side of Ford’s Kansas City Assembly plant has been suspended due to parts shortage. This means that about 3,600 workers are idled with no date set for reopening the plant. And the Dearborn Truck plant in Michigan is getting closed too. That plant has 4,000 employees. In addition, F-Series Super Duty production is suspended at the Kentucky Truck Plant in Louisville. ...
The average U.S. light-vehicle dealership managed their fixed operations department very well, considering their final repair and costs figures. In 2017, total repair orders written by that average dealership were flat, and so was the total parts inventory it carried — after both had risen at a double-digit clip the year before.That dealership also added more technicians — with the total rising to 19 per store from 16 in 2016 and 15 in 2015 — which helped to boost total parts and service sales, despite the repair-order slowdown. In addition, the total parts and service revenu...
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...
As consumer demand continued to weaken, the most powerful automakers have revealed their car sales for April 2018, and the results weren’t as good as expected. Auto sales have been on a bit of a roller coaster ride this year, with a weak performance in February followed by a jump in sales for some automakers in March.Ford Motor posted a 4.7-percent decline in sales, with retail sales to consumers down 2.6 percent. The No. 2 U.S. automaker said sales of its popular pickup trucks were up 0.9 percent, but SUV and passenger car sales were down 4.6 percent and 15 percent respectively.Nis...
