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Passenger car retail sales in China, the world’s biggest auto market, fell 80% in February because of the coronavirus epidemic, one of the country’s industry associations said.
Tesla CEO Elon Musk has a “super bad feeling” about the economy and needs to cut about 10 per cent of jobs at the electric carmaker, he said in an email to executives seen by Reuters.
Elon Musk, the chief executive officer of Tesla and the world’s richest person, said on Friday he was terminating his $44 billion deal to buy Twitter because the social media
Tesla in June achieved its highest monthly sales of China-made vehicles since opening its Shanghai plant in 2019, data showed on Friday, as the US carmaker ramped up output
Nissan Motor Co and Renault SA agreed on Monday to a sweeping remake of their two-decade-old automaking alliance that will put them on equal footing and see the Japanese company
Volkswagen first-half operating profit is expected to come in at around 11 billion euros ($13 billion), it said on Friday, even surpassing pre-pandemic levels on the back of strong demand in Europe and the United States.
Booming sales in China helped propel German luxury carmaker BMW to stronger profits in the first three months of the year even as its home market Germany trailed the ongoing recovery in global car markets from the worst of the pandemic shutdowns.
Daimler will keep a 35% stake in the trucks division it plans to spin off this year, the luxury carmaker said on Friday, giving more details on a landmark corporate split it hopes will boost share values.
Porsche AG shares made a strong start on Thursday after Volkswagen defied volatile markets to list the sports car brand at a valuation of 75 billion euros ($72 billion) in Germany’s second-biggest market debut.
Investors cheered a solid third quarter (Q3) at General Motors Co as the automaker’s performance and confidence tamped down growing fears of a global recession.
