Asianews

Hyundai sold 8,404 Palisade large SUVs, a two-fold increase from last July and a monthly record. Kia sold 4,822 Telluride large SUVs, up 5.8 percent, while sales of the Seltos small SUV, which hit U.S. showrooms in January, reached a monthly record of 4,505.  … [Read more...] about Hyundai’s U.S. Sales Edge up

The Chinese soldiers opened fire on Indian troops at 9-30 this morning [October 1] at Cho La, about three and a half miles north west of Nathu La on the Sikkim-Tibet border without any provocation. An official spokesman of the Defence Ministry said that according to reports available intermittent firing continued in the afternoon also, but decreased after 3 p.m. owing to fog. There has been no report of firing after 4 p.m. There have been casualties on both sides, according to information reaching the defence headquarters. The Chinese used recoilless guns and mortars and the Indian troops returned the fire. The Prime Minister Mrs. Indira Gandhi who is now in Bombay referred to the renewed Chinese firing on the Sikkim border and said that the country should be alert to meet any eventuality. … [Read more...] about Chinese fire on Indian troops

rural market, which has shown resilient demand for the entry level motor bikes amid the pandemic, has helped Hero MotoCorp to trade at a two-year high premium valuation compared with the peer Bajaj Auto.The stock of Hero Moto, the country’s largest motorbike maker, trades at a one-year forward price-earnings multiple of 18.7, a 3% premium to Bajaj Auto, according to the data from Bloomberg. In contrast, Hero Moto traded at nearly 3% discount over the past decade to Bajaj Auto and the discount had widened in the previous five years given the latter’s rising export volume, which had partially offset the impact of slowing sales in the Indian market.The surge in the ‘need’ based buying for personal transport amid the pandemic spread is turning out to be a boon for Hero Moto, which has 62.4% and 71% market share in the economy and executive segments. In addition, it derives more than half of the sales volume from the rural market, which is outperforming due to better … [Read more...] about Hero Moto likely to maintain momentum

Ford Motor's new chief executive faces no easy task. The $27 billion automaker revealed on Tuesday that Chief Operating Officer Jim Farley, who joined the company in 2007, is to take the wheel at the start of October.Farley needs to cut costs while also trying to speed up the company's investments in electric and self-driving tech. Trouble is, that's the same challenge faced by Jim Hackett, the man he's replacing - and he's the second boss in six years to leave after underperforming peers.Hackett and his predecessor, Mark Fields, both ran Ford for around three years, and both presided over a share-price drop of more than a third. Ford's main rivals, meanwhile, performed better. General Motors shares have fallen by just over a fifth since Hackett took over at Ford in May 2017, while Volkswagen is almost flat. Fiat Chrysler Automobiles is up 12%.Granted, Hackett inherited a number of problems from Fields and arguably even from Alan Mulally, who helmed the company until 2014. Ford was not … [Read more...] about Ford’s new CEO needs deft maneuvering skills

BMW on Tuesday said its electric cars will use battery cells produced using renewable energy, a step which will compel the biggest suppliers to source more non-coal generated electricity."We now have a contractual agreement with our cell manufacturers that they will use only green power to produce our fifth generation battery cells," BMW Chief Executive Oliver Zipse said on an interview published on the company's website. Last year, BMW ordered more than 10 billion euros' ($11.07 billion) worth of battery cells from Chinese battery cell maker Contemporary Amperex Technology Co (CATL) and Samsung SDI.CATL is building a battery cell production plant in Erfurt, Germany, and has said it aims to produce 60 gigawatt hours (GWh) worth of cells a year from 2026 onwards.BMW is preparing to launch the electric BMW iX3 this year, and the BMW iNEXT and BMW i4 next year. As production volumes of electric BMW cars increase, the use of green power will save around 10 million tonnes of CO2 over the … [Read more...] about BMW to source battery cells produced using renewable energy