Category: Motor Age Articles
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Ford invests $1 billion in Chicago plants, will add 500 jobs
Ford’s investment will support the redesigned Explorer, Police Interceptor and Lincoln Aviator crossovers. The plants will be retooled beginning next month for the 2020 model-year vehicles.
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Jaguar Land Rover takes $4.4B hit, writes down value of cars, plants
Jaguar Land Rover has posted a $4.4 billion quarterly loss after it took a big write-down in the value of its cars and plants. It is the third straight quarterly loss for the automaker, which has been hit hard by U.S.-China trade tensions, low dem…
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Nissan resists having Renault’s Senard as chairman, report says
Nissan is unwilling to support an arrangement with alliance partner Renault that would place the French automaker’s chairman, Jean-Dominique Senard, in the same role at both companies, as was the case under former leader Carlos Ghosn, Bloomberg reporte…
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Volvo courts China, tech investors to help fund Polestar rollout
Volvo and Chinese parent Geely have each held a 50 percent stake in Polestar since 2017, when they agreed to jointly invest $736 million to fund initial development at the performance EV brand.
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FCA says Q4 net income surged 61% to $1.47B
Fiat Chrysler said fourth-quarter net profit rose 61 percent to $1.47 billion with revenue advancing 6 percent to $34.7 billion. UAW profit-sharing checks will average $6,000.
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FCA says Q4 net income surged 61% to $1.47 billion
Fiat Chrysler said fourth-quarter net profit rose 61 percent to $1.47 billion with revenue advancing 6 percent to $34.7 billion. UAW profit-sharing checks will average $6,000.
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FCA says Q4 net surged 61% on N.A. growth, margins
Fiat Chrysler, citing robust gains in North America, said fourth-quarter net profit rose 61 percent to $1.47 billion with revenue advancing 6 percent to $34.7 billion. UAW profit-sharing checks will average $6,000.
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Volvo reports record profit but feels tariff-driven margin squeeze
Volvo capitalized on a strong fourth quarter and record global vehicle sales to report its best-ever full-year profit. But tariff headwinds remain ahead in 2019.
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Renault to alert prosecutors over Ghosn’s wedding costs
Renault says it is investigating a sponsorship deal with the Chateau de Versailles, near Paris, that included a $57,000 personal benefit to former Chairman Carlos Ghosn. The automaker plans to alert French prosecutors.
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GM offers equity to Cruise employees
Future and current employees of GM’s Cruise autonomous vehicle unit are being offered equity in the driverless tech startup under a new employee incentive plan.