Nissan Motor Co. CEO Hiroto Saikawa will slash some 12,500 jobs worldwide as part of new plan to revive the company after reporting a 99 percent plunge in operating profit in the latest quarter on falling sales in every major market except China.
Carlos Ghosn has launched a court case in the Netherlands against Nissan Motor and Mitsubishi Motors, who ousted him as chairman of their alliance last year on charges of embezzlement, Dutch newspaper NRC reported on Saturday.
Volvo is recalling 507,000 vehicles worldwide because of a faulty engine component that, in extreme cases, could result in a fire. Volvo said its own investigations have identified that “in very rare cases the plastic engine intake manifold may melt and deform.”
Volkswagen Group will build a multi-brand plant in Turkey, according to Automobilwoche, a sister publication of Automotive News Europe.
BMW’s supervisory board will discuss new leadership at the automaker’s U.S. plant in Spartanburg, South Carolina, later on Thursday, and is expected to name Oliver Zipse as its new CEO, after 53-year-old Harald Krueger said he would not be available for a second term as CEO.
European new-car sales fell 7.9 percent in June, with big declines for Nissan, Volvo, Honda and Fiat Chrysler Automobiles.
Volkswagen rolled the last Beetle off the assembly line on Wednesday, the end of the road for a car that ran from Nazi Germany through hippie counterculture but failed to navigate a swerve in consumer tastes toward crossovers and SUVs.
Volkswagen Group and Ford Motor Co. are expanding their budding alliance to collaborate on development of electric and autonomous vehicles, with the German automaker investing $2.6 billion in cash and assets in Argo AI, and Ford agreeing to use VW’s flexible electric vehicle platform for a future battery electric vehicle in Europe.
BMW has moved some engine output from Britain due to Brexit in a further sign of the decisions companies are having to take to handle uncertainty over the UK’s exit from the European Union.
EU antitrust regulators opened an investigation on Monday into Spain’s plan to grant 20.7 million euros ($23.4 million) to PSA Group’s plant in the north west of the country, concerned that this may breach the bloc’s state aid rules.
Ford will eliminate about 20 percent of the workforce across its European operations in a sweeping overhaul that reflects the challenges facing automakers in the region.
Porsche has to recall almost 340,000 Cayenne and Panamera vehicles due to problems with their automatic transmission, the German company said on Tuesday.
A Prague district court has ruled that a number of Czech owners of Skoda and Volkswagen cars qualify for 533 million crowns ($23.30 million) in compensation linked to VW’s diesel emissions scandal.
European registrations rose marginally in May, helped by a jump in deliveries in Germany.
Shares in Fiat Chrysler Automobiles and Renault fell sharply in early trading on Thursday after their $35 billion-plus merger plan fell apart only 10 days after being made public, with FCA blaming French politicians.
Fiat Chrysler withdrew a $35 billion merger offer for France’s Renault, abruptly calling off what would have been a landmark deal to create the world’s third-biggest automaker.
Shares of Asian automakers and suppliers, including Toyota, Nissan, Honda and Mazda, tumbled on Friday after U.S. President Donald Trump threatened to slap tariffs on imports from Mexico.
German prosecutors are investigating Porsche CEO Oliver Blume over a possible breach of fiduciary trust tied to payments made to a Porsche works council member, the Stuttgarter Nachrichten reported.
PSA Group will offer full-electric versions of its Peugeot Boxer and Citroen Jumper medium vans as it completes plans to electrify its range of light-commercial vehicles.
The U.S. Justice Department has opened a criminal investigation into Ford’s emissions certification process, the automaker disclosed two months after admitting to an issue with its testing.