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Automotive Manufacturing to Drive ‘Make in India’ initiative

Posted on September 19, 2016 by J Sammy Leave a comment

The Government of India aims to make automobiles manufacturing the main driver of ‘Make in India’ initiative, as it expects the passenger vehicles market to reach 9.4 million units by 2026, as highlighted in the Auto Mission Plan (AMP) 2016-26. Addressing a CII International Automotive Design Conclave 2016 on Friday, Mr Girish Shankar, Secretary, Ministry of Heavy Industries and Public

Non Profit Org Launches Automotive Job Listing Portal

Posted on August 20, 2016 by J Sammy Leave a comment

BEN has launched a new recruitment website designed to give automotive recruiters a niche job board exclusively for the industry. The automotive industry charity aims to promote vacancies of all types – both apprenticeships and mainstream roles – via UKAutomotive.jobs with the aim of attracting more people to join and remain within the automotive sector. The site is also designed

The Financial Highs & Lows of Automobile Firms in Korea

Posted on August 18, 2016 by J Sammy Leave a comment

Korea’s 1,079 automobile companies saw their average operating profit-to-sales ratio stand relatively low at 5 percent. In other words, they gained a profit of 5 won by selling 100 won worth of goods. In addition, one out of the nation’s five auto-related firms has higher than 400-percent debt-to-equity ratio. The Korea 20,000 Corporate Research Institute announced on August 17 that

Philippine Local Parts Makers Voice Concern over CARS

Posted on August 8, 2016 by J Sammy Leave a comment

The Philippine Parts Makers Association (PPMA), a group of local automotive parts and components manufacturers, voiced this concern at their recent quarterly meeting. “We are pushing for the CARS (Comprehensive Automotive Resurgence Strategy) assemblers to prioritize the SME local parts makers to supply in the start of volume production,” said PMMA President Ferdinand Raquelsantos. For now, Raquelsantos said all they

UPS Reports Strong 2Q Results

Posted on August 1, 2016 by J Sammy Leave a comment

UPS today announced second-quarter 2016 diluted earnings per share of $1.43, a 6% increase over the same period last year. International operating profit increased 11% to $613 million, representing the sixth consecutive quarter of double-digit growth. Total revenue was $14.6 billion, up 3.8% over the same quarter last year. Revenue growth was reduced by changes in fuel surcharges and currency

Cambodia’s New Car Dealers Cry Foul

Posted on July 20, 2016 by J Sammy Leave a comment

Cambodia’s automobile industry expressed strong concerns that the recent government decision to increase the rate of taxation levied on luxury and new cars imported into the Kingdom could seriously jeopardize their already small sales ‒ in a market dominated by imports of used cars of dubious origin ‒ and force many of them to lay off their staff. Antoine Jeanson,

EUROPE Plans Tighter Emission Caps

Posted on July 19, 2016 by J Sammy Leave a comment

The current set of European Union emissions standards for cars extends to 2021, but regulators are apparently planning a new round of standards to follow. These new standards would impose stricter emissions caps, while taking regulations beyond the 2021 limit for cars, as well as a 2020 limit for vans. This would bring the EU closer to the U.S., which

Markets

TOYOTA Joins Open-Source Software

Posted on July 14, 2016 by J Sammy Leave a comment

The world’s largest automaker ponied up a one-time fee—believed to be $20 million—and became the eighth full member of a consortium that most people do not associate with the auto industry at all. It’s called the Open Invention Network, and its other members are Google, IBM, Red Hat , NEC, Philips, Sony, and SUSE (a unit of Britain’s Micro Focus).

Car Companies

GERMAN Watchdog Searches Offices of Car Makers, Auto Suppliers in Steel Price-Fixing Probe

Posted on July 6, 2016 by J Sammy Leave a comment

Germany’s antitrust watchdog launched a steel price-fixing investigation into six companies, including car makers Daimler AG, BMW AG and Volkswagen AG and suppliers Robert Bosch GmbH and ZF Friedrichshafen AG. The watchdog suspects Germany’s leading car makers and two of the world’s biggest car-parts suppliers agreed on prices they would pay for steel products used in cars. Daimler, BMW, Volkswagen,