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Automobile
Leoni says Ukraine output of wire harnesses nearly at prewar levels
Leoni reported a 6.9 percent decline in sales to 1.26 billion euros ($1.33 billion) in the first quarter compared with the same time period in 2021. The company had a first quarter loss of 17 million euros, compared to a profit of 29…
Toyota breaks profit records as it shrugs off pandemic, semiconductor shortage
Worldwide retail sales increased 4.7 percent to 10.38 million vehicles in the 12-month period.
In the just-finished fiscal year, Toyota expanded it profits despite soaring costs for raw materials and logistics as well as increased…
Toyota earnings: Profit records reached as automaker shrugs off pandemic, chip shortage
Worldwide retail sales increased 4.7 percent to 10.38 million vehicles in the 12-month period.
In the just-finished fiscal year, Toyota expanded it profits despite soaring costs for raw materials and logistics as well as increased…
Stellantis names new global purchasing boss, shuffles key Europe posts
PARIS -- Stellantis has shuffled key leadership positions, naming Maxime Picat, currently head of its Enlarged Europe region, as head of purchasing and supply chain, replacing Michelle Wen, who has left the automaker.
Picat will be…
Will the new Stellantis purchasing chief improve supplier relationships?
PARIS -- Stellantis has shuffled key leadership positions, naming Maxime Picat, currently head of its Enlarged Europe region, as head of purchasing and supply chain, replacing Michelle Wen, who has left the automaker.
Picat will be…
Shift reduces corporate positions by 10%, pauses Las Vegas expansion
Shift Technologies said it cut positions last month equating to about 10 percent of its corporate team and is pausing its expansion into the Las Vegas market as the online used-vehicle retailer focuses on trimming costs and operating…
VW to revive Scout as electric SUV, pickup in U.S., report says
VW Group purchased the Scout brand name when its Traton truck unit acquired Navistar International Corp in 2020. Navistar was created in 1985 when International Harvester, which owned the Scout brand, folded.
International Harvester,…
TrueCar exploring acquisitions as it rolls out digital retailing tool
Vehicle listings company TrueCar is considering acquisitions that could boost its digital offerings, executives said Tuesday.
TrueCar CEO Mike Darrow said during the Santa Monica, Calif.-based company's first-quarter earnings call that…
Carvana to lay off 2,500; executives to forgo salaries for rest of year
Carvana Co. plans to lay off 2,500 employees, or about 12 percent of its work force, according to a document it filed Tuesday with the U.S. Securities and Exchange Commission.
Those employees are primarily in Carvana's operations…
EV startup Canoo sues investor with China ties
Canoo Inc. accused its second-largest shareholder of wrongfully benefiting from recent share sales, and is trying in a lawsuit to claw back those profits.
The EV startup says that DD Global Holdings Ltd., a Cayman Islands firm, should…