Top News:
- BRIEF-Toyota president: earnings results in past few years due largely to favourable forex – Reuters: May 11 Toyota Motor Corp. * sees negative impact of 935 billion yen ($8.60 billion) from forex on operating profit in fy2016/17 versus year ago.
- Toyota’s Record-Breaking Profit Run Is Over – Fortune: Toyota TM 2.15% forecast a bigger-than-expected 35% tumble in net profit for the current year due to the sharp appreciation of the yen, ending three…
- Japanese vehicle sales positive in April – Just-auto: The vehicle market in Japan stabilised in April after sharp declines in previous months.
- Continental shows steering wheel gesture control – Just-auto: Continental has unveiled a project focusing on the detection zone of gestures on the steering wheel, using a time-of-flight sensor, which is integrated into the instrument cluster.
- Tesla Model 3 design not finalized – Automotive News: Tesla Motors said the design of its new Model 3 has not been finalized, even though the electric-car maker expects to begin building the mass-market sedan within the next 18 months.
- Toyota Struggles to Find That Extra Gear – WSJ: This would bring Toyota’s total current buyback to a potential 640 billion yen … Management may think Toyota shares are cheap, but based on the…
- Tesla Supplier Sees `Extreme Growth’ Making Utilities Smarter – Bloomberg: The U.S. and Germany are the number-one and -two markets for Fronius, which began business in 1945 by juicing up unreliable Austrian car batteries…
- Mercedes-AMG GLC 63 due in 2017 – Autocar: Super SUV will use the brand’s twin-turbocharged V8 engine to produce more than 500bhp
- PSA begins electric car development – Autocar: Peugeot Citroën DS Group is working with its Chinese partner Dongfeng to develop a variety of electric cars
- Renault Kwid export to SAARC countries to begin this year – Ibtimes: Renault Kwid has been writing success stories in India since its launch in the country and is expected to add new variants in its line-up in the coming…
- Electric Cars to Rival Tesla’s Powerwall in Nissan Deal – Bloomberg: Together they’ll enable drivers of Nissan Leaf battery-powered cars and … world’s cars will be an electric by 2040 according to forecasts Bloomberg…
- PSA and Dongfeng sign new agreements to strengthen partnership – Just-auto: PSA and Chinese partner Dongfeng have signed new agreements to strengthen their partnership and create a new medium-term plan – dubbed “5A+” – for their joint venture entity Dongfeng Peugeot Citroen Automobile (DPCA).
- Uber Ends Ride-Sharing Service in Sweden Amid Regulatory Concern – Bloomberg: In an e-mailed statement, Uber said its car-pooling service had “encountered some resistance” and that Sweden “needs a modern and clearer…
- Takata looks at restructuring after posting loss on recall costs – Automotive News: Takata said it was considering a drastic review of its inflator division and the sale of non-core businesses — its first restructuring steps since becoming embroiled in a global recall crisis over potentially deadly airbags
- PSA, Dongfeng will develop electric cars together – Automotive News: PSA added that the automakers’ joint venture Dongfeng Peugeot Citroen Automobile (DPCA) planned to generate revenue of more than RMB 100…
- Toyota’s net income falls 4% on lower sales, higher costs and currency losses – Automotive News: Toyota’s net income fell 4 percent in its latest quarter as lower sales, rising costs and foreign exchange rate losses hit earnings.
- Toyota Hits a Wall – Bloomberg: Toyota’s share price slid to a three-year low of 5,278 yen last month , making it the worst performer in the Bloomberg World Auto Manufacturers Index…
- Tax Break Fuels China Car Sales in April – WSJ: BEIJING-China’s car sales accelerated in April as a tax break continued to encourage buyers, which eased some pressure on dealers grappling with…
- Peugeot, Dongfeng to develop electric cars – Reuters: PARIS PSA Peugeot Citroen and Dongfeng Motor said they signed an agreement on Wednesday to create a common platform to build electric cars for …
- China’s state planner says auto sector shows signs of capacity glut – Reuters: Warns of overcapacity in commercial vehicles, batteries. * Auto sales grew 6.3 pct y/y in April (Releads with comments on overcapacity).
- Egypt’s GB Auto first-quarter net profit falls 70 pct – Reuters: CAIRO May 11 Egyptian auto distributor Ghabbour Auto’s first-quarter net profit fell 70 percent, it said in a bourse statement on Wednesday.
- Toyota forecasts 35% net profit decline for 2016 – Nikkei: The strengthening yen is affecting earnings at Toyota Motor. The company announced on Wednesday that it expects a 35.1% net profit…
- Japan’s Takata looks at restructuring as airbag recall woes mount – Reuters: The announcement came as the auto parts maker booked its third annual loss in four years on an increase in recall costs. It forecast a return to profit …
- Toyota warns of profit slide as yen strengthens – FT: Toyota Motor is bracing for its first profit decline in five years as the stronger yen and a slowdown in emerging markets crimp its growth prospects.
- BRIEF-Toyota Motor to repurchase 100 mln shares – Reuters: BRIEF-Toyota Motor to repurchase 100 mln shares. May 11 Toyota Motor : * Says it to repurchase up to 100 million shares, representing a 3.24 pct …
- Takata Forecasts Profit Despite Looming Air-Bag Recall Costs – Bloomberg: … deployed too forcefully, rupturing and spraying parts at vehicle occupants. …. The automaker is scheduled to build car factories in Mexico and China…