Auto Industry News
GM, GE To Collaborate On Sourcing Rare Materials
The two US industrial giants signed a memorandum of understanding with the goal of establishing "a North America- and Europe-based supply chain of vertically integrated magnet manufacturing that both companies will use in the future.
Italy Car Production Dives Over 37 Percent In August
Oct 31, 2021 09:14 PM
The 37.4 percent drop was a sharp acceleration on the 7.4 percent decline recorded in July, according to the National Statistics Institute (ISTAT).
Europe Car Sales Sink On Chip Shortage
Oct 31, 2021 08:47 PM
New car registrations fell by 23.1 percent to 718,598 in September 2021 compared to a year ago, according to the European Automobile Manufacturers' Association, known as ACEA.
Truck Maker Volvo Says Profits Back Near Pre-Pandemic Levels
Oct 31, 2021 08:09 PM
Volvo said in a statement that bottom-line net profit rose to just over seven billion kronor (700 million euros, $810 million) in three months to September, compared to 5.7 billion kronor in the same period a year earlier.
Petrol Price Hits Record High At UK Pumps
Oct 31, 2021 07:59 PM
The previous record at the pumps, set in April 2012, was broken on Sunday as global oil prices rise dramatically, doubling from around $40 a barrel a year ago to $85 now.
Renault Forecasts Production Fall On Shortages
Oct 31, 2021 07:54 PM
The group sold just over 599,000 vehicles in the third quarter, down 22.3 percent compared to the same period in 2020 when the auto industry re-emerged from months of pandemic-induced paralysis.
Auto Parts Giant Continental Cuts Outlook As Supply Bottleneck Tightens
Oct 31, 2021 07:51 PM
Continental's sales in the third quarter were down year-on-year by 8.5 percent to 8 billion euros as the supply crisis worsened, according to preliminary figures published alongside the outlook revision.
Online Insurer Acko Raises $255 Million For Expansion Drive
Oct 31, 2021 07:17 PM
The funds will also be used to develop new insurance products, for taking them to customers, as well as for fostering partnerships in the wider health economy including with hospitals.
Ghosn Aide Kelly Seeks Acquittal In Tokyo Trial
Oct 31, 2021 07:00 PM
Japanese prosecutors are seeking a two-year prison sentence for Kelly, a US citizen and former aide to ex-Nissan chief Carlos Ghosn.
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