With India’s auto sales declining for the ninth straight month in July, more automotive manufacturers are laying off workers and temporarily halting production to keep costs in check, according to sources and documents seen by Reuters.
Britain should delay Brexit beyond Oct.31 rather than leave the European Union (EU) without a deal, which would be particularly harmful to large carmakers, the head of the sector’s industry body told Reuters.
Time is running out for European car makers, who have waited until the last minute to try to meet ambitious European Union (EU) emissions targets and face billions in fines if they fail to comply.
Chinese automakers Great Wall Motor and Changan Automobile are accelerating plans to build cars in India after the initial success of rival SAIC Motor in one of the world’s biggest markets, three sources said.
Japan’s Nissan Motor has told its managers to slash non-essential spending as the automaker grapples with slumping car sales and tumbling profits, three company sources with knowledge of the matter told Reuters.
Carmakers look to resume China output after virus forced closures. Toyota to resume China output at three plants next week. Toyota Motor Corp said it plans to resume output at three of its four main auto plants in China next week.