Newswire

  • Newswire

    India sees auto industry growing to up to $285 bln by 2026  

    MUMBAI, Sept 2 (Reuters) - The Indian auto industry is expected to grow as much as 4 times from its current value to hit 18.9 trillion rupees ($285 billion) by 2026, assuming the economy grows at 7.5 percent over the next decade, a government report said on Wednesday. The report, published by the department of heavy industries, said the auto sector would account for more than 12 percent of India's gross domestic product and 40 percent of its manufacturing sector by that date. ($1 = 66.2550 Indian rupees) (Reporting by Aditi Shah; Editing by Rafael Nam)...More
  • Newswire

    UPDATE 1-German car sales rise 6 percent in August - VDA  

    * August German passenger car registrations up 6 percent * Year-to-date German registrations up 6 percent * German car exports up 17 percent year-on-year (Recasts, adding official data) HAMBURG/FRANKFURT, Sept 2 (Reuters) - Sales of new cars in Germany rose about 6 percent to 226,300 cars in August, German auto association VDA said on Wednesday, confirming an earlier Reuters report....More
  • Newswire

    UPDATE 1-Navistar may face SEC lawsuit; posts 12th loss in a row  

    (Adds details, background, shares) Sept 2 (Reuters) - Truck and engine maker Navistar International Corp said it could face enforcement from the U.S. Securities and Exchange Commission, and posted its 12th quarterly loss in a row, hurt by restructuring and product warranty costs. The company's shares fell 14.3 percent to $14.87 in premarket trading on Wednesday....More
  • Newswire

    UPDATE 1-GM expects India business to be profitable in five years  

    (Changes dateline, adds MD comments, background) By Aditi Shah NEW DELHI, Sept 2 (Reuters) - General Motors Co expects to be profitable in India in five years as it cuts costs and works towards increasing locally produced content for its cars, the automaker's country chief told Reuters. After two decades in India, GM's sales are falling and it is still losing money, some 38.5 billion rupees ($581 million) in the year to March, a company filing with the corporate affairs ministry showed....More
  • Newswire

    Switzerland imposes alcohol limit on cable car operators  

    ZURICH, Sept 2 (Reuters) - Switzerland on Wednesday closed a legal loophole that allowed cable car drivers to escape criminal prosecution if caught drunk on the job as the law did not impose an alcohol limit on them. But as of Oct. 1, the Alpine nation's cable car operators will be subject to such a limit, bringing them in line with other vehicle operators and drivers....More
  • Newswire

    UPDATE 2-VW's CEO Martin Winterkorn set to stay on for three more years  

    * VW proposes extending CEO contract until 2018 * Winterkorn term extended as he oversees revamp * VW working on new group structure (Adds analyst comment) FRANKFURT, Sept 2 (Reuters) - The executive committee of Volkswagen's supervisory board has proposed extending Martin Winterkorn's contract as chief executive until the end of 2018, the company said on Tuesday, opening the door to the appointment of an outsider as chairman....More
  • Newswire

    BRIEF-Dongfeng Automobile signs vehicle sales contract with Sudan's Concept Development  

    Sept 2 (Reuters) - Dongfeng Automobile Co Ltd * Says signs contract to sell 3,170 units of vehicles to Sudan's Concept Development Co Ltd Source text in Chinese: http://bit.ly/1NN55Go Further company coverage: (Reporting by Hong Kong and Singapore newsrooms)...More
  • Newswire

    Truck and engine maker Navistar's quarterly loss widens  

    Sept 2 (Reuters) - Truck and engine maker Navistar International Corp's quarterly loss widened, hurt by restructuring and product warranty costs. The net loss attributable to Navistar widened to $28 million, or 34 cents per share, in the third quarter ended July 31, from $2 million, or 2 cents per share, a year earlier. Revenue fell nearly 11 percent to $2.54 billion....More
  • Newswire

    BRIEF-German car sales up 6.2 percent in August - VDIK  

    Sept 2 (Reuters) - Germany's VDIK industry association for import brands: * Says German passenger car registrations rise 6.2 pct in August Further company coverage:...More
  • Newswire

    General Motors expects India business to be profitable in five years  

    By Aditi Shah MUMBAI, Sept 2 (Reuters) - General Motors Co expects to be profitable in India in five years as it cuts costs and works towards increasing local content in its cars, the automaker's country head told Reuters. "In the next five years, I should definitely make it to a green balance sheet," GM's India Managing Director, Arvind Saxena, said in an interview on Wednesday....More
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