New vehicles at Fiat Chrysler’s factory in Detroit, US. Associated Press
China is likely to see vehicle sales drop again this year as opposed to earlier expectations for zero growth, the country’s biggest auto industry association said, after it unveiled data showing the sector contracted for a 12th straight month in June.
Steep drops in auto sales for China and India over recent months are serving as a painful reminder that the world’s two most populous markets are not living up to the earlier heady expectations.
Fiat Chrysler (FCA) plans to spend 700 million euros ($788 million) to boost the ‘Fiat 500’ electric production as the carmaker moves on from its failed $35 billion bid to merge with France’s Renault, a pioneer in electric vehicles.
Global markets showed more signs of stabilisation on Wednesday as investors looked past China’s coronavirus outbreak and moved back into shares from safe-haven assets
Boeing Co on Wednesday swung to its first annual loss since 1997 on mounting 737 MAX costs and indicated it would again cut production of its bigger 787 Dreamliner aircraft,
Harley-Davidson reported a decline in quarterly motorcycle revenue that outpaced Wall Street’s estimates as retail sales in the United States dived again, sending its shares lower.