Hyundai Motor makes first quarterly loss in eight years

SEOUL, South Korea (AFP) — South Korea’s largest automaker Hyundai Motor reported its first quarterly loss in eight years on Thursday, with currency swings sending it $180 million into the red in October-December despite improved sales. Operating profit fell 35 percent from a year earlier to 501 billion won ($443 million), the firm said in a statement, and it made a net loss of 203 billion won. “Due to weakened currency in emerging markets coupled […]

India gives Volkswagen 24 hours to pay Dieselgate fine

NEW DELHI, India (AFP) — India’s environmental court Thursday threatened Volkswagen executives with arrest and gave the German automaker a day to pay $14 million for violating pollution norms by fudging emission tests. The “Dieselgate” scandal, which saw VW cheat emissions tests on millions of diesel vehicles, has already cost the firm over $30 billion in fines, recalls and compensation worldwide. India’s National Green Tribunal ruled in November VW must deposit a fine of 1.7 […]

Under pressure to change, Ford is reinventing itself

by Luc OLINGA Agence France-Presse NEW YORK, United States (AFP) — Struggling with a sagging stock price and sluggish sales, US car giant Ford took steps to regain its footing this week with the announcement of a massive restructuring effort in Europe — even as it prepared for an imminent strategic partnership with German carmaker Volkswagen. The iconic American brand will roll out a major reorganization of its European operations to boost profitability, including thousands […]

Jaguar Land Rover, Ford to slash jobs

by Ben PERRY Agence France-Presse LONDON, United Kingdom (AFP) — Thousands of auto sector jobs are set to go across Europe, Jaguar Land Rover and Ford announced Thursday, under major restructuring as consumers dump diesel cars for greener electric vehicles. Brexit-facing JLR will axe around 4,500 mostly UK jobs, the Indian-owned carmaker said, after a slump in Chinese sales last year. US carmaker Ford said it planned a major restructuring of its European operations, including […]

Fiat Chrysler to pay $650 mn over software misuse: report

NEW YORK, United States (AFP) — Fiat Chrysler has agreed to pay nearly $650 million to resolve litigation over its use of illegal engine-control software on diesel vehicles that produced false results in emissions tests, The New York Times reported Wednesday. The automaker will pay $305 million in penalties to the federal government and California, which also brought suit, the NYT said, citing two unidentified sources who were briefed on the issue. It said the […]

France fines Uber 400,000 euros over huge data breach

PARIS, France (AFP) — France’s data protection agency said Thursday that it had fined the US ride-hailing group Uber 400,000 euros ($460,000) over a 2016 data breach that exposed the personal data of some 57 million clients and drivers worldwide. Uber drew the wrath of users and regulators after the company waited a year before revealing in November 2017 that hackers had infiltrated its systems. The French Data Protection Authority said the breach would have […]

BMW confirms recall of 323,700 cars across Europe

  FRANKFURT AM MAIN, Germany (AFP) — German luxury carmaker BMW on Wednesday confirmed it would recall 323,700 cars across Europe due to a faulty component that could cause engines to catch fire. Just under a third — 96,300 — of the affected vehicles are in Germany, while 75,000 are in Britain, a BMW spokesman told AFP. Some 23,500 cars in France and 24,700 in Italy are also hit. The Europe-wide recall came after the […]

Ford bets its future on new Detroit hub

by Nova SAFO Agence France-Presse CHICAGO, United States (AFP) — Bill Ford Jr., the great-grandson of the American car-maker’s founder, stood in front of thousands Tuesday in Detroit, with an abandoned train station in the background, and entwined the company’s future with that of the dilapidated building behind him. “This station is a symbol,” Ford declared. “We’re making a big bet on our future.” The company — one of America’s “Big Three” automakers — bought […]

MMDA suspends towing firm for illegal towing of motorcycles

  By Phoebe Salvador Eagle News Service   (Eagle News) — The Metropolitan Manila Development Authority (MMDA) has indefinitely suspended a towing company that brought towed motorcycles to its garage instead of the agency’s impounding site. MMDA General Manager Jojo Garcia said in a press briefing on Tuesday, June 19 the accreditation of Arrom Towing Services and its six tow trucks were indefinitely suspended in response to a complaint of a motorcycle rider. Based on […]

Switch to e-cars will cost Germany 75,000 jobs: study

  Frankfurt am Main, Germany (AFP) — The growing use of electrified vehicles is expected to cost Germany’s crucial car sector some 75,000 jobs by 2030, a study found Tuesday, with smaller auto parts suppliers set to be worst hit. The IG Metall union, which commissioned the study along with BMW, Volkswagen, Daimler and a string of car parts makers, said the pivot towards cleaner engines posed a “major challenge” to Germany’s biggest industry, which […]

Volkswagen to recall 410,000 cars over faulty seat belts

  Frankfurt am Main, Germany (AFP) — German carmaker Volkswagen said Friday it would recall 410,000 cars from its own brand and Spanish subsidiary Seat over faulty seat belts, warning customers not to use the middle seat in the meantime. “There is the possibility that in rare situations… when the rear center seat and the rear left seat are occupied at the same time, the left seat belt lock could be unintentionally released” on some […]

BMW races into 2018 with sales, profits record

by Tom Barfield Agence France-Presse Frankfurt am Main, Germany (AFP) — German high-end car maker BMW said Friday it booked a strong first three months with record first-quarter shipments and profits, confirming its targets for the full year. Net profit at the Munich-based group added 1.2 percent year-on-year to reach 2.3 billion euros ($2.8 billion). But operating, or underlying profits fell 3.1 percent to 2.8 billion euros, as revenues slipped 5.1 percent to 22.7 billion. BMW said […]