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Indian Auto-Parts Makers Face Job Losses as EVs Rev Up
Date: November 7, 2022
By Anuradha Nagaraj CHENNAI, India (Thomson Reuters Foundation) – In Coimbatore, a city that manufactured one of India’s first homemade diesel engines, K. Rajesh finds himself at a crossroads as automakers rush to produce more electric vehicles (EVs). The boss of a local auto-component manufacturing firm in southern Tamil Nadu state, Rajesh is part of...
Nissan Says Talks With Renault Focused on Better Competing in Electric Cars
Date: November 4, 2022
By Kevin Krolicki and David Dolan TOKYO (Reuters) -Nissan Motor Co’s talks with Renault SA are focused on optimising their investment in electric vehicles and strengthening their competitiveness as equal partners, the Japanese automaker’s CEO told Reuters on Friday. Negotiations with Renault, also Nissan’s top shareholder, have less than two weeks remaining to meet a...
UK New Car Sales up by Nearly a Quarter in October – Smmt
Date: November 4, 2022
(Reuters) – British new car registrations rose for the third consecutive month in October, up by around a quarter, according to preliminary industry data released on Friday. The Society of Motor Manufacturers and Traders (SMMT) said it expects a market recovery in 2023. The SMMT will provide the final figures for the month at 0900...
Europe – the Warning Light Flashing on Carmakers’ Dashboards
Date: November 3, 2022
By Nick Carey (Reuters) – Carmakers BMW and Stellantis on Thursday expressed concerns about Europe’s economic outlook, joining a chorus of retailers and others in warning of waning consumer confidence on the continent and hitting their shares. “Obviously the macro(-economic situation) in Europe is more challenging, which gives me pause, personally,” Stellantis chief financial officer...
Toyota Cuts Output Target Amid Chip Crunch as Profit Tumbles 25%
Date: November 1, 2022
By Satoshi Sugiyama TOKYO (Reuters) – Toyota Motor Corp on Tuesday posted a worse-than-expected 25% drop in quarterly profit and cut its annual output target, as the Japanese firm battles surging material costs and a persistent semiconductor shortage. The world’s biggest automaker by sales also warned that it remained difficult to predict the future after...
Toyota Cuts Output Target Amid Chip Crunch as Profit Tumbles 25%
Date: November 1, 2022
TOKYO (Reuters) -Toyota Motor Corp on Tuesday posted a worse-than-expected 25% drop in quarterly profit and cut its annual output target, as the Japanese firm battles surging material costs and a persistent semiconductor shortage. The world’s biggest automaker by sales also warned that it remained difficult to predict the future after posting its fourth consecutive...