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US auto sales expected to decline this year

US auto sales expected to decline this year

LMC Automotive has cut its initial sales forecast for the US new light-vehicle market, for now to anticipate a slight contraction compared with 2015 record levels. Following a disappointing May, June saw a 2.4 percent increase in new cars and light trucks volumes in the United States. Despite the mixed […]

Hyundai workers go on strike in South Korea

Hyundai workers go on strike in South Korea

In their usual annually pattern, Hyundai workers will go on strike, as the negotiation on their wages did not conclude within their expectations. Hyundai Motors have been struggling for some time to keep its sales and profits on a solid growth path, as the second quarter of this year is […]

VW executives “in danger” of giving back their bonuses

VW executives “in danger” of giving back their bonuses

One of VW’s biggest shareholders said that managers may have to return their bonuses if German prosecutors fine the company. Granting large bonuses for Volkswagen’s executives triggered an internal dispute earlier this year and drew criticism from the company’s investors and labor leaders, as the automaker reported its biggest ever […]

Supplier bankruptcy threatens GM’s production

Supplier bankruptcy threatens GM’s production

The financial problems of an important General Motors supplier may humper the automaker’s output in North America. Even if the Massachusetts-based Clark-Cutler-McDermott has been a long-time partner for General Motors, the supplier filed for bankruptcy, claiming it has been losing millions of dollars in recent years, partly because the automaker […]

Daimler Q2 earnings above outlook

Daimler Q2 earnings above outlook

The premium German auto group said its earnings were significantly better than market expectations in the second quarter of 2016. Daimler reported this week preliminary adjusted earnings before interest and taxes of 3.97 billion euros (4.4 billion dollars) for the second quarter of the year, up from 3.76 billion euros […]

Takata looks to speed up buyout

Takata looks to speed up buyout

The embattled Japanese auto supplier wants to find an investor as soon as possible to start its restructuring process. There have been many investors showing their interest in Takata, since the supplier has announced it was looking for a banker to help the company overcome its troublesome financial situation triggered […]