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Automobile
Mercedes-Benz Says Plug-In Hybrids To ‘Stay Relevant’ Amid EV Demand Slowdown
Benz (OTC:MBGAF) expects lower returns on sales across its cars and vans division this year, it said on Thursday, flagging "exceptional" uncertainty caused by conflicts in the Middle East and Ukraine and tensions between China and the U.S.…
Volkswagen To Invest A Further $1.8 Billion In Brazil In Next Five Years
German carmaker Volkswagen said on Thursday it will invest an additional 9 billion reais ($1.83 billion) in its Brazilian business over the next five years and launch 16 new models, including hybrid and electric vehicles.
The new…
Toyota Beats Volkswagen To Retain World’s Biggest Automaker Spot
Toyota Motor Corporation beats Volkswagen AG to retain the world’s top carmaker for a fourth consecutive year after selling 11.2 million passenger vehicles in 2023.
Volkswagen trailed with deliveries which increased 12 per cent to 9.24…
Certification Revoked For 3 Daihatsu Cars Due To Safety Scandal
The Japanese government is revoking certification for three Daihatsu Motor Co. vehicles after an investigation found the Toyota Motor Corp. affiliate had been manipulating collision safety test results for decades.
Transport Minister…
Toyota Reaches New Heights, Sells 986,262 Units In November
The world's biggest carmaker, Toyota's worldwide production in November reached an all-time high at 1,067,446 units and sales rose to 986,262 units, 12 percent higher from a year earlier, including that of subsidiaries Hino Motors Ltd. and …
Ford Shares Fall After Pulling Full-Year Forecast, Wider Losses In EV Unit
Shares of Ford Motor Co closed down 12.3% on Friday after the automaker reported a wider loss from its electric-vehicle (EV) business due to pressures from a price war, sparked by industry leader Tesla.
The Detroit automaker also pulled…
Lagos, CIG Motors Agreement Produces 2000 Cars
A Joint Venture Agreement (JVA) sealed by Governor Babajide Sanwo-Olu with CIG Motors - a Chinese automobile company - has birthed a new Vehicle Assembly Plant which has produced 2000 cars.
The vehicle assembly plant sited in Lagos is a …
Volkswagen Halts Production Over Major IT Components Malfunctioning
Europe's top carmaker, Volkswagen halted production in Germany on Wednesday following a major malfunction of IT network components.
Reuters report noted the whole group, which includes the Porsche AG and Audi brands, was affected.
A…
Rising Sales Trigger Toyota Plans For Third Indian Plant, New SUV
The rising volume of domestic sales owing to the partnership with Suzuki Motors is likely to trigger the third Toyota Motor plant in India in an effort to expand production capacity in the country for the first time in over a decade.
Two…
Elon Musk Says Auto Union’s Demands Would Bankrupt Big Three Carmakers
Tesla Inc. Chief Executive Officer Elon Musk blasted the United Auto Workers Tuesday, saying the union’s demands would “drive GM, Ford and Chrysler bankrupt in the fast lane.”
President Joe Biden endorsed the UAW’s demand for a major…