Top News:
- Ford warns of plant closures to combat $1bn Brexit blow – FT: Ford is considering closing plants in the UK and across Europe in response to Britain’s vote to leave the EU, as it forecast a $1bn hit to its business…
- Ford Posts Lower Than Expected Q2 Profit – Detroit Bureau: Ford Motor Co. second-quarter profits came in below expectations, as the company’s operations in South America lost money and a 20% drop in Ford Credit’s profits. Find out more at TheDetroitBureau.com.
- Some 1,500 still jobless after Ford Genk closure-union – Just-auto: Belgian unions claim 1,500 people still remain unemployed 18 months after Ford closed its plant in Genk with the loss of 5,500 jobs.
- NXP Projects Stalling Car-Chip Demand as Mobile Sales Expand – Bloomberg: NXP Semiconductors NV, the world’s biggest supplier of chips used in the automotive industry, said sales in the segment will be stagnant or may even…
- PSA pushes for Mobility Services future with new boss – Autocar: Multi-brand company appoints Grégoire Olivier as its new division’s boss; board shake-up results in ex Peugeot boss Maxime Picat taking over as PSA Europe leader
- Volkswagen eyes higher 2016 car sales on China, Europe demand – Reuters: DE) this year expects to increase group vehicle sales slightly beyond the 9.93 million cars it delivered in 2015, sales chief Fred Kappler said.
- Ford’s Negative Surprise Comes With Warnings Of An Uphill Climb For 2H – Forbes: Ford Motor surprised Wall Street with lower-than-expected profits for the second quarter, and warned that its financial targets for the second half of the…
- Here’s Why Shares of Ford Are Tumbling Today – Fortune: Ford Motor F -8.45% reported weaker-than-expected profit in the second quarter, and said its full-year earnings forecast was at risk with U.S. auto…
- Hyundai Creta prices may soon go up by Rs 15000 – Ibtimes: Korean car maker Hyundai is reportedly planning to increase the price of its Creta SUV in India. The popular SUV is expected to be pricier by up to Rs…
- BRIEF-Truecar projects July auto sales – Reuters: Excluding fleet sales, July U.S. Retail deliveries of new cars and light trucks should decline 0.7 percent to 1.32 million units Source text for Eikon: …
- Reporter and Boy Genius Skirt the Law in Self Driving Car – Bloomberg: After a long week of driving fast cars and blowing stuff up in the Mojave Desert, it was time for Hello World’s Ashlee Vance to get the hell out of dodge.
- Ford’s profit falls on trouble in US, China – CBS News: Ford Motor Co.’s (F) net income fell 9 percent to $2.0 billion in the second quarter as the company struggled with flattening U.S….
- VW Q2 Earnings Hammered by Emissions Scandal – Detroit Bureau: After reporting a rosy picture for the first half of 2016, a different reality has set in for Volkswagen AG, as Q2 profits fell 86%. Get the details at TheDetroitBureau.com.
- Ford Q2 net profit slips $190m to $2bn – Just-auto: Ford Motor Company booked net income down US$190mto $2bn and an adjusted pre-tax profit off $293m on salesup $2.2bn to $39.5bn in the second quarter of 2016.
- SMMT survey highlights UK Brexit concerns – Just-auto: An SMMT survey of the UK automotive sector has found widespread concern that its future trading relationship with the EU could impose higher costs following the UK’s exit from the EU.
- Didi Chuxing and Uber, Popular in China, Are Now Legal, Too – New York Times: Ordering a car at a Didi Chuxing kiosk in Shanghai. Strict government rules in China have tripped up local and foreign internet companies alike, including ride-hailing services like Uber and Didi.
- BRIEF-Ford maintains 2016 guidance, flags risk of weaker US market – Reuters: Expects weaker U.S. industry auto sales in second half of 2016. * Q2 North American operating profit margin 11.3 percent versus 12.2 percent year …
- BRIEF-BYD to boost lithium battery unit’s capital by 6 bln yuan – Reuters: July 28 BYD Co Ltd. * Says it plans to boost lithium battery unit’s capital by 6 billion yuan ($901.20 million) to 6.16 billion yuan. Source text in …
- MG GS – Autocar: MG launches the third model of its Chinese-owned era: a crossover While it’s still some way from making waves that’ll be felt in Paris, Cologne, Wolfsburg and Turin, MG Motor UK Ltd – the modern inheritor of Herbert Austin’s once-great Longbridge plant – has been growing fast since it emerged from the chrysalis of not one but two apparent Far Eastern takeover bids five years ago.Now Chinese-owned but British-crewed and operated, with more than 500 staff at the Birmingham facility where it compl