• Newswire

    VW Cost Cuts May Include Soccer Sponsorships  

    The automaker spends €11 million a year to sponsor four professional soccer teams and an ice hockey club, a drop in the bucket of what analysts say could be €35 million in costs stemming from the diesel-emissions scandal....More
  • Newswire

    UPDATE 5-VW cuts 2016 capital spending plan as cheating scandal widens  

    * VW cuts 2016 capex plan to 12 bln euros from 13 bln * Says 75,000 more U.S. vehicles have excess emissions * Details of vehicle fixes provided to US regulators (Adds EPA saying VW provided initial proposal on vehicle fixes) By Andreas Cremer and David Shepardson WOLFSBURG, Germany/WASHINGTON, Nov 20 (Reuters) - Volkswagen AG cut 1 billion euros ($1.1 billion) from its 2016 investment plan on Friday, as its emissions cheating scandal expanded to include tens of thousands more U.S. vehicles....More
  • Newswire

    India's Mahindra Nearer to Pininfarina Acquisition  

    The Italian design studio, whose clients have included Ferrari, Maserati and Rolls-Royce, says it expects to reach a deal to be acquired by the Indian conglomerate in coming weeks....More
  • Newswire

    Hyundai Motor's Chung Ups Stake in Family Business  

    Chung Eui-sun, the only son of Hyundai Motor Group Chairman Chung Mong-koo, held only 6,445 shares in Hyundai Motor prior to last month's purchase of 1.85 million shares that raised his stake in the automaker to 2.28%....More
  • Newswire

    UPDATE 3-Takata slashes outlook as automakers drop its air bag inflators  

    * Takata cuts FY net profit outlook to 5 bln yen from 20 bln * Toyota president: won't use Takata ammonium nitrate inflators * Takata shares briefly turn positive after Toyota comment * Shares down nearly 40 percent in three days (Recasts throughout with Takata earnings, guidance) By Makiko Yamazaki...More
  • Newswire

    UPDATE 2-Toyota cuts full-year sales forecast on sluggish Asian recovery  

    * Toyota lowers FY sales f'cast by 1 pct, profit unchanged * World's top automaker cites weak sales in emerging Asia * Q2 profit supported by weak yen, lower costs (Recasts, adds comment, details) By Naomi Tajitsu TOKYO, Nov 5 (Reuters) - Toyota Motor Corp cut its full-year revenue forecast on Thursday as the Japanese company expects weaker vehicle sales in emerging Asian countries, where demand for cars has been hit by slowing growth....More
  • Newswire

    Reports Say U.S. Settles With Takata Over Airbags  

    A Japanese newspaper reports the auto supplier will pay $70 million to U.S. regulators and car owners in a settlement stemming from defective airbags blamed for several deaths...More
  • Newswire

    Audi Sees Q3 Profits Drop But Sticks With Margin Target  

    The Volkswagen-owned luxury automaker says strong demand in Europe and the U.S. offset a drop in China sales and the costs of launching both a redesigned A4 sedan and a Brazilian plant....More
  • Newswire

    UPDATE 2-Nissan seeks closer Renault alliance, wary of French state's role  

    * Nissan concerned of French state's say in Renault -exec * Nissan lifts full-yr f'casts for revenue, profit after strong Q2 * Operating profit climbs 44 pct to 201 billion yen * Q2 revenue jumps 13.2 pct on strong sales in N. America, Europe (Recasts on Nissan comments on Renault alliance) By Naomi Tajitsu...More
  • Newswire

    UPDATE 4-Hit by scandal, VW posts first quarterly loss in at least 15 years  

    * Q3 operating loss of 3.48 bln euros in line with consensus * VW set aside 6.7 bln euros in Q3 scandal provisions * VW expects significant drop in 2015 operating profit * VW has made no provisions yet for legal liabilities (Adds finance chief, sales chief comments) By Andreas Cremer...More
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