The list of buyers includes central and state ministry departments, public sector units (PSUs), autonomous bodies, and local bodies. By offering Volkswagen Cars on GeM, Government agencies can purchase GNCAP 5-star rated Volkswagen cars at a competitive price in a streamline manner, the company said.
The company's profit margin before interest and taxes in the car business, perhaps the most important key figure for investors, BMW lost 3.3 percentage points to 8.8% of sales.
The Batur Convertible showcases a continuation of Bentley's innovative design direction initiated by its coupe counterpart, destined to influence forthcoming Bentley models.
Nissan said Thursday it nearly doubled its full-year net profit in 2023-24 but forecast a dip of around 10% for the current financial year. Thursday's results struck a different tone to an announcement last month when Nissan trimmed its sales and profit outlook for 2023-24, predicting a more modest net profit of 390 billion.
Tesla Inc. is escalating job cuts in China to regain market share, with layoffs extending to various departments at its Shanghai plant. The company faces challenges amid a global EV demand slowdown, intense competition, and shrinking market share. Despite layoffs, Tesla secured approval for its driver-assistance system in China.
The features of the new Swift include 6 airbags, Electronic Stability Program+ (ESP), Hill Hold Assist, Anti-lock Braking System (ABS) with Electronic Brakeforce Distribution (EBD) and Brake Assist, 3-point seat belts for all seats with reminders.
The U.S. government on Wednesday sued Hyundai and Kia's American financing arm, accusing it of repossessing vehicles leased by military service members without first obtaining court permission as required by law.
Mercedes-Benz Group AG is adjusting its electric-vehicle goals due to weakening sales, opting for combustion engines longer. CEO Ola Källenius cites slower transformation, pledging to make combustion and hybrid vehicles into the 2030s if demand persists. Disappointing electric model orders and lower margins prompt the shift, reflecting wider industry challenges.
GM has been shifting away from cars in favor of building more crossover and sport utility vehicles in recent years. The Malibu is the last remaining Chevrolet car offered in the United States besides the Corvette. GM ended production of the Chevrolet Camaro late last year.
Toyota reported record annual net profit of more than USD 30 billion on Wednesday but the world's largest automaker by sales warned that the current year would be less spectacular. For this year it expects net profit of 3.57 trillion yen, down 27.8%, because of investments in "growth areas" such as electric and hydrogen cars, as well as in "human capital".
Tom Zhu, one of the company's three named executive officers, was promoted to senior vice president of automotive in April 2023, a role in which he oversaw global production, sales, deliveries, service and the company's factories from Tesla's Austin headquarters. He previously had been based in China, heading the carmaker's Asia Pacific operations.
Get updates on your preferred social platform
Follow us for the latest news, insider access to events and more.
