News   Jun 21, 2024
 2K     4 
News   Jun 21, 2024
 895     0 
News   Jun 21, 2024
 1.1K     0 

Automotive industry news

IK, but it’s no way to judge a company’s success. That’s especially true for stocks that do not pay dividends, since then your only hope is that another person wants to pay you more for the stock than you paid, meaning that the stock is worthless to you unless you sell it.

It most definitely is not....besides, I don't know about those types but I sure as hell have way more fun at a blackjack table than I do dicking around with ETFs on Questrade.
 
Nissan sues Ghosn, seeking damages for property, jet use

The Canadian Press February 12, 2020

TOKYO — Nissan filed a civil suit Wednesday seeking 10 billion yen ($91 million) in damages from the Japanese automaker's former Chairman Carlos Ghosn.

Nissan Motor Co. filed the case in Yokohama District Court to recoup some of the monetary damages suffered, it said, “as a result of years of misconduct and fraudulent activity" by Ghosn.

The claim was calculated by adding the costs from what Nissan called Ghosn's “corrupt practices,” such as rent for overseas property, use of corporate jets and payments to Ghosn's sister, as well as costs for the internal investigation into Ghosn's alleged wrongdoings.

 
Tesla Is 'Crushing The Auto Industry', Munster Says, As Company Posts Q1 Delivery Figures

Neer Varshney
Benzinga April 2, 2020, 11:49 PM EDT

Tesla earlier in the day reported 88,400 deliveries and 102,672 total production in the first quarter this year, beating analyst estimates.

Munster noted that Tesla's delivery numbers are up 40% year-on-year in the first quarter, at a time when the overall United States auto industry numbers are down 29%.

"Tesla is winning because they have a product that is measurably better than both gas and electric competitors," the former research analyst said.

What's Next

The electric vehicles maker didn't update its guidance for the deliveries for the entire financial year 2020, over the previous one of 500,000 deliveries. It also didn't give an estimate of its expectations for the second quarter.

Loup Ventures would give their estimate for the second quarter when there's better clarity surrounding the novel coronavirus (COVID-19) pandemic.

Munster reiterated his earlier stance that during the pandemic, Tesla's performance relative to other automakers matters more than its performance on absolute terms.

According to him, Tesla will continue to beat other automaker delivery results by 15% to 25% in the rest of the three quarters this year, even as things get more difficult for the overall industry.

If the pandemic's impact is eased by October, Tesla will see a "dramatic bounce back" in the fourth quarter, as per Munster.

"The biggest unknown will be production contribution from Shanghai, which is still in the early ramp phase," he added.

Tesla's Fremont and New York manufacturing plants are closed for production due to shelter in place orders from local authorities during the pandemic. The company is working at a reduced staff in the Nevada gigafactory.

 
GM says pickup truck production to return to Oshawa plant with new Unifor deal

November 5, 2020

General Motors Canada president Scott Bell says the automaker will bring pickup truck production back to its Oshawa, Ont., assembly plant.

The announcement Thursday came after the company reached a tentative contract agreement with Unifor.

"Construction will begin immediately at Oshawa Assembly and will include a new body shop and flexible assembly module, to support a fast response to strong customer demand for GM’s new family of pickup trucks," Bell said in a statement.

"Pickups are GM’s largest and most important market segment in Canada and across the continent. They also help GM fund our transition to the electric, autonomous and highly connected future we see ahead."

Oshawa pickup production is targeted to begin in January 2022.

Unifor's members are to vote on the new tentative agreement on Sunday.

The union has unanimously recommended approval to its 1,700 members working at GM plants in the southern Ontario cities of St. Catharines, Oshawa and Woodstock.

GM said its planned new investments will include $1 billion to $1.3 billion in Oshawa with the expected hiring of 1,400 to 1,700 hourly workers as well as $109 million in St. Catharines, Ont., to support added engine and transmission production and $500,000 in operations at the Woodstock Parts Distribution Centre.

 

Back
Top