Tag: Automotive

Shares of AutoZone Inc. were being driven lower in early Tuesday trading, after the auto-parts retailer reported fiscal fourth-quarter earnings and sales that rose, but not enough to meet expectations, as U.S. results continued to underperform.

 Mercedes-Benz  cut its full-year profit margin target for the second time in less than two months, hitting European auto stocks as it joined a growing number of rivals that are blaming a weakening Chinese car market, the world’s largest.

German Economy Minister Robert Habeck said on Friday that he wants to help Volkswagen (VOWG_p.DE), opens new tab get through a period of cost-cutting without having to resort to site closures, reflecting concerns about the country’s biggest carmaker.

Shares of Mobileye Global were rising Thursday after majority shareholder Intel said it currently has no plans to divest a majority interest in the autonomous-driving company.

The United Auto Workers union is eying multiple U.S. strikes against French-Italian carmaker Stellantis about a year after a national walkout cost the Detroit Three automakers billions of dollars and idled 50,000 workers.

Volkswagen may book up to 4 billion euros ($4.4 billion) in provisions for planned capacity cuts as early as the fourth quarter, analysts at brokerage Jefferies said in a note after travelling with company executives in North America.

Stellantis’ Jeep brand is well known for scaling tough terrains, but its latest challenge of achieving 1 million vehicle sales domestically by 2027 will be a steep hill to climb.

General Motors and Hyundai Motor have entered into an agreement to explore “future collaboration across key strategic areas” in an effort to reduce capital spending and increase efficiencies, the companies announced Thursday.

Τα αποτελέσματα του δεύτερου τριμήνου του 2024 ανακοίνωσε ο Όμιλος Autohellas, με τον ενοποιημένο Κύκλο Εργασιών να ανέρχεται σε €256,1 εκατ. έναντι €255,2 εκατ. το δεύτερο τρίμηνο του 2023.

Την πρώτη τιτλοποίηση επιχειρηματικών απαιτήσεων, που διοργάνωσε και χρηματοδότησε εξ ολοκλήρου εγχώρια τράπεζα, ολοκλήρωσε τον περασμένο Ιούλιο η Εθνική, συνάπτοντας με την Autohellas σύμβαση τιτλοποίησης απαιτήσεων από συμβάσεις μακροχρόνιων μισθώσεων (Asset Backed Securitization)

BMW AG has had to lower expectations for the year after a faulty braking system from supplier Continental AG prompted a recall and halt to deliveries of some 1.5 million vehicles.

NIO stock rose after the Chinese electric vehicle maker reported a narrower-than-expected second-quarter loss Thursday.

German automotive giant Volkswagen is bracing for a showdown with trade unions shortly after it said it cannot rule out shutting factories in its home country for the first time in its nearly 90-year history.

Chinese electric car giant BYD sold a record number of passenger vehicles in August, with sales of hybrids growing faster than those of battery-only cars.

Shares of Advance Auto Parts were tumbling as a tough quarterly report from the car-parts retailer outweighed the announcement of a $1.5 billion sale of a parts distribution business.

The European Union on Tuesday said planned tariffs on Tesla vehicles being imported from China would be cut to 9% from 20.8%, while also reducing a number of planned import duties on other Chinese electric vehicle firms.

 BMW reported a lower-than-expected profit margin in its core automotive segment during the second quarter on Thursday, hitting its shares as heightened competition and weaker demand in China weighs on the sector.

Mobileye (MBLY) saw its shares tumble 10% in premarket trading Thursday after the autonomous driving company reduced its revenue guidance for the full fiscal 2024, missing consensus estimates.

Ferrari N.V. reported better-than-expected earnings for the fiscal Q2 and raised its adjusted EBITDA forecast for the full fiscal 2024.

Shares in Mitsubishi Motors surged on Monday following media reports that the Japanese automaker is in talks to join Nissan’s and Honda’s planned strategic partnership.