Autos
- BusinessReuters
Hyundai Motor plans to add hybrids to US plant within current investment -exec
Hyundai Motor Co plans to use the investment it has already lined up for the United States to produce hybrid vehicles at its electric vehicle (EV) plant there. The world's No.3 automaker by sales together with affiliate Kia Corp, aims to use investment in its EV and battery manufacturing facilities in Georgia to produce hybrid cars, Hyundai Motor's global Chief Operating Officer Jose Munoz told a business conference hosted by the Financial Times on Wednesday. "I think we can handle (that) with
2-min read - BusinessAssociated Press Finance
Edmunds: Trade or sell your car? What's best might surprise you
According to a recent Edmunds used vehicle report, demand for used cars is dropping and so are their values as the new-car market rebounds from pandemic-induced shortages. This is especially true for 1- and 2-year-old vehicles. Selling your vehicle privately will likely yield a higher sales price than trading in at a dealership.
4-min read - BusinessAFP News
BMW says EU probe into China EV subsidies against free trade
The chief executive of German luxury carmaker BMW on Wednesday warned the European Union's investigation into Chinese electric car subsidies runs counter to free trade.Oliver Zipse -- CEO of BMW, which has major investments in China, the world's biggest car market -- said that the Munich-based group "always strives for free trade".
2-min read - BusinessAFP News
Japanese auto giant Toyota posts record net profit
Toyota reported record annual net profit of more than $30 billion on Wednesday but the world's largest automaker by sales warned that the current year would be less spectacular.For this year it expects net profit of 3.57 trillion yen, down 27.8 percent, because of investments in "growth areas" such as electric and hydrogen cars, as well as in "human capital".
3-min read - BusinessAssociated Press
Toyota racks up booming profit, vows to invest to keep growth going
Toyota doubled its net profit in the fiscal year that ended in March, as strong vehicles sales and a favorable exchange rate lifted results for Japan’s top automaker. Toyota Motor Corp.'s annual profit totaled 4.9 trillion yen ($31.9 billion), up from 2.45 trillion yen the year before, while its sales jumped 21% to 45 trillion yen ($290 billion), the company said Wednesday. The results exceeded Toyota’s own projection for a 4.5 trillion yen ($29 billion) profit, as its global sales surged to 9
2-min read - BusinessReuters
UPDATE 2-BMW says costs, low used car prices to weigh on 2024 pre-tax profit
BMW said on Wednesday it expects a slight drop in pre-tax profit this year due to higher research and development, manufacturing and personnel costs, with a decrease in used car prices also contributing to the decline. The Munich-based automaker reported a fall in its first-quarter profit margin in its automotive segment as persistently higher costs weighed on its bottom line and demand for luxury cars in China remained muted. The German premium automaker's pre-tax margin in the car segment fe
2-min read - BusinessReuters
BMW says costs, low used car prices to weigh on 2024 pre-tax profit
BERLIN (Reuters) -BMW said on Wednesday it expects a slight drop in pre-tax profit this year due to higher research and development, manufacturing and personnel costs, with a decrease in used car prices also contributing to the decline. The Munich-based automaker reported a fall in its first-quarter profit margin in its automotive segment as persistently higher costs weighed on its bottom line and demand for luxury cars in China remained muted. The German premium automaker's pre-tax margin in
2-min read
