Nissan’s marketing and distribution in the country will continue through imports from its Thailand and Japan manufacturing sites.

Nissan to end car assembly in Philippines, marketing and distribution operations will continue

The company was hit hard by a months-long lockdown imposed in late March to slow the spread of the novel coronavirus.

India's largest automakers marks strong sales in October

Watch today in 'World Business Watch': A tentative deal between Hyundai Motors & its South Korean union to freeze wages.

A tentative deal between Hyundai Motors & its South Korean union to freeze wages

The EQC is Mercedes-Benz's first all-electric vehicle that is going to be launched in India very soon. After that, it will be India's first all-electric luxury SUV that will give the luxury car buyers an option to opt for an eco-friendly ride. The electric vehicle has got all the comfort and convenience option that one can expect in a luxury car along with some interesting technologies and a great performance. Also, we will tell you about its ride quality and handling characteristics. Watch the video to know all about our experience with the upcoming Mercedes-Benz EQC electric vehicle.

Mercedes-Benz EQC review: India's first all-electric luxury SUV

After setting a benchmark in the compact crossover segment with its Seltos, Kia Motors is all set to introduce its sub-compact crossover in the Indian market very soon. The Kia Sonet will go up against the likes of the Maruti Suzuki Vitara Brezza, Hyundai Venue, Ford Ecosport and the Tata Nexon. But can it be that redefining sub-compact crossover that you always wanted? We recently got a chance to spend a day with the Sonet and we tried to reach very close to the answer.

Kia Sonet review: Can it redefine the sub-compact crossover segment?

Toyota Kirloskar Motor Vice-Chairman Vikram Kirloskar on Tuesday confirmed that the company will invest over ₹2,000 crore in the next 12 months

Toyota says investing ₹2,000 crore on electrification of cars in India

Automobile manufactures look to restock their inventory channels. Sales are expected to rebound more near festive season in India.

India: Auto sales to rebound more near festivals

Japanese automaker Honda has agreed to pay $96.5 million to settle a probe centered on defective airbags in some of its vehicles.

Honda reaches $85 Million settlement over faulty airbags

India's largest carmaker company Maruti Suzuki India on Friday reported zero sales of cars for the first time in April, as the entire nation remained under strict lockdown to contain the spread of the deadly coronavirus.

Maruti Suzuki records zero sales in April for first time in history

Watch today in WION Wallet: In India, a month left for the proper shift to BS-VI vehicle engine norms but the demand for BS-IV vehicles is still crawling.

India: A month left for proper shift to BS-VI norms, demand for BS-IV vehicles crawling

In China, Banking & insurance companies announce measures to support Chinese manufacturers which are hardly hit by Coronavirus outbreak.

China: Banking, insurance companies announce measures to support manufacturers facing worst

Today in History: First successful gasoline-driven automobile, German zeppelins bomb Paris and more!

While people may not be buying more vehicles at the moment, it does not mean that auto sales will come to a halt. There is a growing market of E-Vehicles. Automobile giants are making big bets on EVs so much so that the battery is the new engine. Take a look

Gravitas: Are cars the new electronics?

Japanese automaker Nissan on Tuesday slammed its former chief Carlos Ghosn for jumping bail, calling his <a href="https://www.wionews.com/world/carlos-ghosn-fled-by-bullet-train-japan-vows-to-bolster-borders-272500">escape</a> "extremely regrettable" and vowing continued legal action to hold him accountable.

Ghosn, who faced trial on financial misconduct charges that he denies, fled Japan on December 29 for Lebanon, in an elaborate and apparently carefully planned escape.

Watch:&nbsp;'The Great Escape' of ex-Nissan boss Carlos Ghosn

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/the-great-escape-of-carlos-ghosn-271595/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

His bail-jumping has prompted outrage from Japanese officials, but he insists that he would have been unable to receive a fair trial in Japan.&nbsp;

In a statement, Nissan said <a href="https://www.wionews.com/search?q=Former+Nissan+boss+Carlos+Ghosn+reportedly+escaped+Tokyo+on+public+bullet+train">Ghosn's escape</a> "in violation of his bail conditions is an act that defies Japan's judicial system. Nissan finds it extremely regrettable."

Also read:&nbsp;<a href="https://www.wionews.com/world/unexpected-surprise-how-did-nissan-boss-carlos-ghosn-escape-to-lebanon-271401">'Unexpected surprise': How did Nissan boss Carlos Ghosn escape to Lebanon?&nbsp;</a>

The firm said its "robust, thorough internal investigation" had "incontrovertible evidence of various acts of misconduct by Ghosn".

"The company will continue to take appropriate legal action to hold Ghosn accountable for the harm that his misconduct has caused to Nissan," it added.

Ghosn alleges that the <a href="https://www.wionews.com/world/unexpected-surprise-nissan-boss-carlos-ghosn-flees-to-lebanon-japan-calls-it-cowardly-act-271393">charges against him</a> stem from a "coup" inside Nissan by disgruntled executives and local Japanese officials who feared his plans to more closely integrate the Japanese automaker with its alliance partner, French firm Renault.

Ghosn is due to give a press conference in Beirut on Wednesday, where he has said he will provide details about the alleged "coup" against him.

Japanese automaker Nissan on Tuesday slammed its former chief Carlos Ghosn for jumping bail, calling his escape "extremely regrettable" and vowing continued legal action to hold him accountable.

Japanese automaker Nissan on Tuesday slammed its former chief Carlos Ghosn for jumping bail, calling his escape "extremely regrettable" and vowing continued legal action to hold him accountable. Ghosn, who faced trial on financial misconduct charges that he denies, fled Japan on December 29 for Lebanon, in an elaborate and apparently carefully planned escape. Watch: 'The Great Escape' of ex-Nissan boss Carlos Ghosn His bail-jumping has prompted outrage from Japanese officials, but he insists that he would have been unable to receive a fair trial in Japan. In a statement, Nissan said Ghosn's escape "in violation of his bail conditions is an act that defies Japan's judicial system. Nissan finds it extremely regrettable." Also read: 'Unexpected surprise': How did Nissan boss Carlos Ghosn escape to Lebanon? The firm said its "robust, thorough internal investigation" had "incontrovertible evidence of various acts of misconduct by Ghosn". "The company will continue to take appropriate legal action to hold Ghosn accountable for the harm that his misconduct has caused to Nissan," it added. Ghosn alleges that the charges against him stem from a "coup" inside Nissan by disgruntled executives and local Japanese officials who feared his plans to more closely integrate the Japanese automaker with its alliance partner, French firm Renault. Ghosn is due to give a press conference in Beirut on Wednesday, where he has said he will provide details about the alleged "coup" against him.

Ghosn's escape 'extremely regrettable': Nissan

Pitstop drives the all-new Toyota Camry Hybrid that comes in India with an ex-showroom price tag of INR 37.88 lakh. It gets Toyota's fourth-generation electric hybrid drivetrain with a 2.5-litre petrol engine which delivers 176bhp and 221Nm of torque. In combination with a 118 horsepower electric motor, the Camry offers a combined output of 215bhp. In terms of features, the new Camry gets three-zone automatic climate control, 8-inch multimedia touchscreen, power front seats and all-LED headlamps. Alongside, 9 airbags, ABS with EBD & Brake Assist, Vehicle Stability & Traction Control, Tyre Pressure Monitoring Sensor & Parking Assist are among the safety features of the car. Watch our video to know how was our experience with the all-new Toyota Camry Hybrid. #WION #Pitstop #Camry #Toyota #Automobile #AutoReview

Toyota Camry Hybrid review: The eco-friendly luxury sedan | WION Pitstop

Chinese govt suspends additional tariffs on U.S. made automobile & other goods. Beijing has planned to impose 25% duty on U.S. Automobile products. This looks like a trade-truce between the China and United States.

China suspends additional tariffs on U.S. made automobile & other goods

The Indian auto industry is still not out of the woods yet. According to a report submitted by Society of Indian Automobile manufacturers, the domestic auto industry saw a drop of 16% in sales from April to November.

Indian Auto Industry saw 16% drop in sales from April to November

Volkswagen's German plants need to boost efficiency to match overseas operations, production chief Andreas Tostmann was quoted as saying, targeting 2 billion euros ($2.2 billion) in savings by 2023.

German carmakers, including Volkswagen's Audi brand, have announced thousands of job cuts in recent weeks to address an expected 5 per cent&nbsp;drop in global auto sales this year, with declines likely to spill into 2020.

"The pace of improvement is better abroad. In Germany, despite all the successes we've achieved, we have to do better," Tostmann told trade journal Automobilwoche.

Tostmann wants to implement the savings in the production of VW branded cars through a bundle of measures on top of automation, including a leaner logistics operation.

"The result is that we need 15 per cent&nbsp;less space, 60 per cent&nbsp;fewer logistics vehicles and are able to move 20 per cent&nbsp;more product," said Tostmann, according to extracts from his Automobilwoche interview.

VW's luxury Audi division last month said that it would cut up to 9,500 jobs, equating to 10.6 per cent&nbsp;of total staff, by 2025 in a move to free up billions of euros to fund the shift towards electric vehicle production.

Rival Daimler, as well as car suppliers Continental, Robert Bosch and Osram, have also recently announced staff and cost cuts.

Volkswagen's German plants need to boost efficiency to match overseas operations, production chief Andreas Tostmann was quoted as saying, targeting 2 billion euros ($2.

Volkswagen's German plants need to boost efficiency to match overseas operations, production chief Andreas Tostmann was quoted as saying, targeting 2 billion euros ($2.2 billion) in savings by 2023. German carmakers, including Volkswagen's Audi brand, have announced thousands of job cuts in recent weeks to address an expected 5 per cent drop in global auto sales this year, with declines likely to spill into 2020. "The pace of improvement is better abroad. In Germany, despite all the successes we've achieved, we have to do better," Tostmann told trade journal Automobilwoche. Tostmann wants to implement the savings in the production of VW branded cars through a bundle of measures on top of automation, including a leaner logistics operation. "The result is that we need 15 per cent less space, 60 per cent fewer logistics vehicles and are able to move 20 per cent more product," said Tostmann, according to extracts from his Automobilwoche interview. VW's luxury Audi division last month said that it would cut up to 9,500 jobs, equating to 10.6 per cent of total staff, by 2025 in a move to free up billions of euros to fund the shift towards electric vehicle production. Rival Daimler, as well as car suppliers Continental, Robert Bosch and Osram, have also recently announced staff and cost cuts.

Volkswagen's German plants need to shape up: Production chief

Maruti Suzuki India on Friday reported 4.5 per cent growth year-on-year in October sales led by compact and utility vehicle segments.

Driven by the festive season and heavy discounts, the company sold 1.53 lakh units during the month against 1.46 lakh units sold in the same month of last year.

The country`s largest car manufacturer said domestic sales in October grew by 4.5 per cent year-on-year to 1.44 lakh units from 1.38 lakh units and exports increased 5.7 per cent to 9,158 units from 8,666 units.

Passenger car sales were up by 4.4 per cent to 1.06 lakh units compared to 1.01 lakh units in October last year.

The compact car segment (new WagonR, Celerio, Ignis, Swift, Baleno and Dzire) clocked 15.9 per cent growth but mini segment (Alto, S-Presso and old WagonR) showed 13.1 per cent decline.

Utility vehicles sales (Gypsy, Ertiga, XL6, Vitara Brezza and S-Cross) grew by 11.3 per cent whereas vans (Omni and Eeco) sales fell by 26.8 per cent in October YoY.

For the April to October period, however, total sales were down by 20.3 per cent to 8.94 lakh units from 11.2 lakh in the year-ago period.

Domestic sales dipped by 21.4 per cent to 8.31 lakh units from 10.5 lakh units while export sales edged lower by 2.6 per cent to 63,069 units from 64,753 units year-on-year.

Maruti Suzuki India on Friday reported 4.5 per cent growth year-on-year in October sales led by compact and utility vehicle segments. Driven by the festive season and heavy discounts, the company sold 1.

Maruti Suzuki India on Friday reported 4.5 per cent growth year-on-year in October sales led by compact and utility vehicle segments. Driven by the festive season and heavy discounts, the company sold 1.53 lakh units during the month against 1.46 lakh units sold in the same month of last year. The country`s largest car manufacturer said domestic sales in October grew by 4.5 per cent year-on-year to 1.44 lakh units from 1.38 lakh units and exports increased 5.7 per cent to 9,158 units from 8,666 units. Passenger car sales were up by 4.4 per cent to 1.06 lakh units compared to 1.01 lakh units in October last year. The compact car segment (new WagonR, Celerio, Ignis, Swift, Baleno and Dzire) clocked 15.9 per cent growth but mini segment (Alto, S-Presso and old WagonR) showed 13.1 per cent decline. Utility vehicles sales (Gypsy, Ertiga, XL6, Vitara Brezza and S-Cross) grew by 11.3 per cent whereas vans (Omni and Eeco) sales fell by 26.8 per cent in October YoY. For the April to October period, however, total sales were down by 20.3 per cent to 8.94 lakh units from 11.2 lakh in the year-ago period. Domestic sales dipped by 21.4 per cent to 8.31 lakh units from 10.5 lakh units while export sales edged lower by 2.6 per cent to 63,069 units from 64,753 units year-on-year.

Maruti Suzuki October sales up by 4.5% to 1.53 lakh units amid festive season

Automobile retail sales are likely to pick up with an improvement in consumer sentiment during the ongoing festive season due to recent liquidity easing measures announced by the government and on back of favourable monsoons, according to India Ratings and Research (Ind-Ra).

Consequently, inventory build-up at the dealer level in anticipation of increased demand during this period is likely to lead to increased wholesale billing by original equipment manufacturers (OEMs) during October, it said.

"However, with existing high dealer inventory levels, production cuts by OEMs are likely to continue in the near-term," said Ind-Ra in the credit news digest on India's auto sector.

The report highlights trends in sub-segments of the auto sector including passenger vehicles (PVs), commercial vehicles (CVs) and two-wheelers (2Ws) with a focus on sales volumes growth, market share movement, change in commodity prices and recent rating actions.

Domestic automobile industry's sales continued their downward trend in September with a 22 per cent year-on-year decline on weak consumer sentiments owing to the slowing economy. Inventory at dealer level remained high, leading to most OEMs continuing to implement production cuts.

Over April to September, overall auto industry undertook a production cut of 13 per cent year-on-year with 16 per cent, 27 per cent and 13 per cent production cuts in PV, CV and 2W segments respectively.

In the PV segment, market leader Maruti Suzuki India took a production cut of about 21 per cent. The average inventory for PVs increased marginally in September to 30 to 35 days from 25 to 30 days in August.

The average inventory for CVs decreased marginally in September to 50 to 55 days from 55 to 60 days in August. But the average inventory for 2W remained high at 60 to 65 days.

PV sales volume declined 24 per cent on account of a 33 per cent drop in the sales volume of cars. Cars sales volume continue to decline on weak consumer sentiments amid a slowdown in urban and rural household consumption, a rise in the cost of ownership and the growing preference of shared mobility over buying a car.

CV sales volume declined 39 per cent in September owing to decreased industry demand on account of tight liquidity conditions amid slowed economic activity. 2W sales fell 22 per cent on weak rural and semi-urban demand.

In the PV segment, Maruti's market share dropped by around 3 per cent to 49 per cent in September on lower sales volumes, while Hyundai Motor India gained 2 per cent market share. Tata Motors Ltd's CV market share dropped by around 5 per cent to 41 per cent while Mahindra &amp; Mahindra Ltd gained 8 per cent market share.

2W market leader Hero MotoCorp Ltd's market share increased by around 1 per cent to 36% in September, said Ind-Ra in the news digest.

Automobile retail sales are likely to pick up with an improvement in consumer sentiment during the ongoing festive season due to recent liquidity easing measures announced by the government and on back of favourable monsoons, according to India Ratings and Research (Ind-Ra).

Automobile retail sales are likely to pick up with an improvement in consumer sentiment during the ongoing festive season due to recent liquidity easing measures announced by the government and on back of favourable monsoons, according to India Ratings and Research (Ind-Ra). Consequently, inventory build-up at the dealer level in anticipation of increased demand during this period is likely to lead to increased wholesale billing by original equipment manufacturers (OEMs) during October, it said. "However, with existing high dealer inventory levels, production cuts by OEMs are likely to continue in the near-term," said Ind-Ra in the credit news digest on India's auto sector. The report highlights trends in sub-segments of the auto sector including passenger vehicles (PVs), commercial vehicles (CVs) and two-wheelers (2Ws) with a focus on sales volumes growth, market share movement, change in commodity prices and recent rating actions. Domestic automobile industry's sales continued their downward trend in September with a 22 per cent year-on-year decline on weak consumer sentiments owing to the slowing economy. Inventory at dealer level remained high, leading to most OEMs continuing to implement production cuts. Over April to September, overall auto industry undertook a production cut of 13 per cent year-on-year with 16 per cent, 27 per cent and 13 per cent production cuts in PV, CV and 2W segments respectively. In the PV segment, market leader Maruti Suzuki India took a production cut of about 21 per cent. The average inventory for PVs increased marginally in September to 30 to 35 days from 25 to 30 days in August. The average inventory for CVs decreased marginally in September to 50 to 55 days from 55 to 60 days in August. But the average inventory for 2W remained high at 60 to 65 days. PV sales volume declined 24 per cent on account of a 33 per cent drop in the sales volume of cars. Cars sales volume continue to decline on weak consumer sentiments amid a slowdown in urban and rural household consumption, a rise in the cost of ownership and the growing preference of shared mobility over buying a car. CV sales volume declined 39 per cent in September owing to decreased industry demand on account of tight liquidity conditions amid slowed economic activity. 2W sales fell 22 per cent on weak rural and semi-urban demand. In the PV segment, Maruti's market share dropped by around 3 per cent to 49 per cent in September on lower sales volumes, while Hyundai Motor India gained 2 per cent market share. Tata Motors Ltd's CV market share dropped by around 5 per cent to 41 per cent while Mahindra & Mahindra Ltd gained 8 per cent market share. 2W market leader Hero MotoCorp Ltd's market share increased by around 1 per cent to 36% in September, said Ind-Ra in the news digest.

Automobile retail sales likely to improve in festive season: Report

Tesla Inc&nbsp;on Wednesday surprised investors with a quarterly profit that sent its shares soaring, as Chief Executive Elon Musk promised a 2020 rollout of a cheaper SUV and more self-driving technology to stay ahead of larger rivals rushing into the premium electric vehicle market he created.

Shares rose nearly 21 per cent&nbsp;to $307.12 after hours on the unexpected news, crossing $300 for the first time since March 1 after record deliveries and cost cuts ensured a profitable third quarter.

Tesla on Wednesday posted a cash balance increase to $5.3 billion and reported a profit of $1.86 per share, shattering analyst expectations for a loss of 42 cents per share.

The third-quarter results are an important milestone for Tesla and redemption for Musk who had to step down as chairman after a series of scandals and investor doubts about Tesla's ability to withstand competition from larger, better capitalized global rivals.

Tesla's gross margins, an important profit indicator for investors, surpassed expectations and Tesla said it was "highly confident" in exceeding the low end of its yearly global vehicle delivery goal.

But Tesla has yet to prove that it can be consistently profitable while managing the start of production for Model 3 sedans at its new factory in Shanghai and for Model Y sport utilities next year.

"Given the breakneck speed of expansion, Tesla will face significant demands on its cash pile," said Nicholas Hyett, an analyst at Hargreaves Lansdown.

The company on Wednesday said production in Shanghai and for Model&nbsp;Y is ahead of schedule, with the latter expected to launch by the summer of 2020.

Tesla also has to contain costs as it develops a gigafactory in Europe, a Semi truck, an electric pickup truck, a new generation of the Tesla Roadster and automated driving features.

The carmaker said it had cut costs 16 per cent&nbsp;on a yearly basis, citing improvements in operating efficiency and a reduction in manufacturing and material costs. Musk said on a conference call that operating costs were the lowest since Model 3 production started.

Margin expectations are higher for Model Y than Model 3, while productions costs are roughly the same as Model 3, said Zach Kirkhorn, Tesla chief financial officer.

Model 3 vehicles made in the Shanghai factory will have roughly the same margins as those made in Fremont, California, he said.

Tesla also expects to generally be cash-flow positive as it has grown to the point of being self-funding.&nbsp;

That will allow the company to invest in divisions focusing on sustainable energy, including launching the third version of its solar roof tile this week.

"For about a year and a half we stripped Tesla energy of resources," Musk said. "Now that Model 3 production is in a good place and headed to a great place we have restored resources to Tesla storage and solar. That's going to be really crazy growth."

Musk also said Tesla is open to supplying batteries and other components to other automakers.

With Wednesday's after-hours surge, Tesla's stock has reduced its loss year-to-date to 8 per cent&nbsp;and added about $9 billion to its market capitalization.

But Tesla rallies have been short-lived before.

A year ago, Tesla gave a quarterly report that similarly smashed investors' expectations, igniting a rally that sent its shares 31 per cent&nbsp;higher over the next two months, only to see the stock decline through much of 2019 over worries about corporate governance, profitability and demand for the Model 3.&nbsp;

Investors in the past have shown impatience with the company's serial failures to meet financial and production targets. Earlier this month, Tesla shares slumped after the company reported delivering 97,000 vehicles for the third quarter, only 2 per cent&nbsp;ahead of the previous quarter.

But Tesla on Wednesday exceeded promises by billionaire Musk, who in July said Tesla would break even in the third quarter and turn a profit by the end of 2019.

The company has said it plans to deliver 360,000 to 400,000 vehicles for all of 2019, and on Wednesday said it was "highly confident in exceeding 360,000 deliveries this year."

Analysts have questioned how rapidly Tesla's vehicle sales will grow as government subsidies for electric vehicle purchases dwindle in the United States, China and other markets.

Kirkhorn on Wednesday said Tesla saw growing order rates in all markets, with current quarter orders exceeding those of the past three months.

Tesla has said it aims to produce at least 1,000 Model 3 cars a week at the new Chinese factory by the end of this year, but it is unclear when it will meet year-end production targets due to uncertainties around orders, labour and suppliers.

Revenue fell nearly 8 per cent&nbsp;to $6.30 billion in the quarter ended September&nbsp;30. Analysts had expected revenue of $6.33 billion, according to IBES data from Refinitiv.

Tesla on Wednesday said it would gradually release nearly $500 million of accumulated revenue tied to its "full self-driving capabilities", which customers can buy for $6,000 even though fully automated driving is not available.

Kirkhorn on Wednesday said deferred revenue would also be released as Tesla expands its "Smart Summon" feature, which allows customers to operate a Tesla from 200 feet&nbsp;away using a smartphone app.

Federal safety regulators are looking into the feature after videos began appearing online showing driverless Teslas hitting obstacles or nearly hitting other vehicles.

Musk on Wednesday said software updates over the coming weeks would improve Summon.

Tesla Inc on Wednesday surprised investors with a quarterly profit that sent its shares soaring, as Chief Executive Elon Musk promised a 2020 rollout of a cheaper SUV and more self-driving technology to stay ahead of larger rivals rushing into the premium electric vehicle market he created.

Tesla Inc on Wednesday surprised investors with a quarterly profit that sent its shares soaring, as Chief Executive Elon Musk promised a 2020 rollout of a cheaper SUV and more self-driving technology to stay ahead of larger rivals rushing into the premium electric vehicle market he created. Shares rose nearly 21 per cent to $307.12 after hours on the unexpected news, crossing $300 for the first time since March 1 after record deliveries and cost cuts ensured a profitable third quarter. Tesla on Wednesday posted a cash balance increase to $5.3 billion and reported a profit of $1.86 per share, shattering analyst expectations for a loss of 42 cents per share. The third-quarter results are an important milestone for Tesla and redemption for Musk who had to step down as chairman after a series of scandals and investor doubts about Tesla's ability to withstand competition from larger, better capitalized global rivals. Tesla's gross margins, an important profit indicator for investors, surpassed expectations and Tesla said it was "highly confident" in exceeding the low end of its yearly global vehicle delivery goal. But Tesla has yet to prove that it can be consistently profitable while managing the start of production for Model 3 sedans at its new factory in Shanghai and for Model Y sport utilities next year. "Given the breakneck speed of expansion, Tesla will face significant demands on its cash pile," said Nicholas Hyett, an analyst at Hargreaves Lansdown. The company on Wednesday said production in Shanghai and for Model Y is ahead of schedule, with the latter expected to launch by the summer of 2020. Tesla also has to contain costs as it develops a gigafactory in Europe, a Semi truck, an electric pickup truck, a new generation of the Tesla Roadster and automated driving features. The carmaker said it had cut costs 16 per cent on a yearly basis, citing improvements in operating efficiency and a reduction in manufacturing and material costs. Musk said on a conference call that operating costs were the lowest since Model 3 production started. Margin expectations are higher for Model Y than Model 3, while productions costs are roughly the same as Model 3, said Zach Kirkhorn, Tesla chief financial officer. Model 3 vehicles made in the Shanghai factory will have roughly the same margins as those made in Fremont, California, he said. Tesla also expects to generally be cash-flow positive as it has grown to the point of being self-funding. That will allow the company to invest in divisions focusing on sustainable energy, including launching the third version of its solar roof tile this week. "For about a year and a half we stripped Tesla energy of resources," Musk said. "Now that Model 3 production is in a good place and headed to a great place we have restored resources to Tesla storage and solar. That's going to be really crazy growth." Musk also said Tesla is open to supplying batteries and other components to other automakers. With Wednesday's after-hours surge, Tesla's stock has reduced its loss year-to-date to 8 per cent and added about $9 billion to its market capitalization. But Tesla rallies have been short-lived before. A year ago, Tesla gave a quarterly report that similarly smashed investors' expectations, igniting a rally that sent its shares 31 per cent higher over the next two months, only to see the stock decline through much of 2019 over worries about corporate governance, profitability and demand for the Model 3. Investors in the past have shown impatience with the company's serial failures to meet financial and production targets. Earlier this month, Tesla shares slumped after the company reported delivering 97,000 vehicles for the third quarter, only 2 per cent ahead of the previous quarter. But Tesla on Wednesday exceeded promises by billionaire Musk, who in July said Tesla would break even in the third quarter and turn a profit by the end of 2019. The company has said it plans to deliver 360,000 to 400,000 vehicles for all of 2019, and on Wednesday said it was "highly confident in exceeding 360,000 deliveries this year." Analysts have questioned how rapidly Tesla's vehicle sales will grow as government subsidies for electric vehicle purchases dwindle in the United States, China and other markets. Kirkhorn on Wednesday said Tesla saw growing order rates in all markets, with current quarter orders exceeding those of the past three months. Tesla has said it aims to produce at least 1,000 Model 3 cars a week at the new Chinese factory by the end of this year, but it is unclear when it will meet year-end production targets due to uncertainties around orders, labour and suppliers. Revenue fell nearly 8 per cent to $6.30 billion in the quarter ended September 30. Analysts had expected revenue of $6.33 billion, according to IBES data from Refinitiv. Tesla on Wednesday said it would gradually release nearly $500 million of accumulated revenue tied to its "full self-driving capabilities", which customers can buy for $6,000 even though fully automated driving is not available. Kirkhorn on Wednesday said deferred revenue would also be released as Tesla expands its "Smart Summon" feature, which allows customers to operate a Tesla from 200 feet away using a smartphone app. Federal safety regulators are looking into the feature after videos began appearing online showing driverless Teslas hitting obstacles or nearly hitting other vehicles. Musk on Wednesday said software updates over the coming weeks would improve Summon.

Tesla shares soar 21% as surprise profit answers sceptics

Nissan Motor Co Ltd&nbsp;is likely to axe its&nbsp;Datsun&nbsp;brand, drop some unprofitable products and close a number of assembly lines worldwide as it seeks to boost profits by getting smaller, two company sources with direct knowledge of the matter said.

Known internally as the "performance recovery plan", the proposed steps mark a sharp break with Nissan's strategy under ousted leader Carlos Ghosn, who pursued ambitious vehicle sales targets in the United States and other major markets.

The plan is the Yokohama-based automaker's latest attempt to pull itself out of crisis after Ghosn was arrested for financial misconduct - charges he denies. The scandal has further strained an already dysfunctional alliance with Renault SA&nbsp;and thrown Nissan into disarray as it finds itself on course to book its lowest operating profit in 11 years.

The sources said Nissan will likely kill loss-making variants for the Titan full-size pickup. Unprofitable variants include the single-cab and diesel versions.

A planned shuttering of under-utilised production lines will most probably hit plants in emerging markets building&nbsp;Datsun&nbsp;and other small cars hardest, they added.

"We need to chart a recovery but the rot goes deep," one of the sources said of the many problems facing Nissan.

The second source said all markets with factories except China were being looked at for possible reductions in production capacity. That source also said, however, that there were no plans to close an entire plant or withdraw completely from any country.

In the United States, one of Nissan's biggest markets, the plan calls for fresh efforts to weed out the practice of buying market share by selling vehicles to the rental car and other fleet operators at heavy discounts - a practice which destroyed profitability and undermined Nissan's brand image.

"We're trying to clean up what had happened in the past," one of the sources said, adding that under Ghosn, Nissan sought to meet sales objectives at any cost, including "practically giving away cars" to fleet customers.

A team led by Jun Seki, a senior vice president and incoming vice chief operating officer, is expected to unveil the wide-ranging plan this month though some aspects are still being finalised, said the sources, who were not authorised to speak to media and declined to be identified.

Nissan declined to comment.

Seki is part of a new management team that will see Makoto Uchida, Nissan's head of China operations, take the helm, an appointment that is expected to take effect by Jan. 1.

The new steps follow plans unveiled in July to cut headcount by 12,500 globally by early 2023 and which also flagged cuts to production capacity. At the time, then-CEO Hiroto Saikawa said 14 facilities would be affected.

Overall, the plan's aim is to free up resources to focus more on the United States and China, the sources said.

To that end, it will roll back an aggressive expansionist strategy Ghosn set in motion under a five-year plan called Power 88 which aimed to raise profit margins and global market share to 8 per cent by fiscal 2016,&nbsp;goals which were never achieved.

The&nbsp;Datsun&nbsp;brand - revived for emerging markets under Ghosn after being phased out in the 1980s,&nbsp;&nbsp;will likely bear the brunt of the restructuring. The models are manufactured in Indonesia, India and Russia.

The sources said problems emerged after Nissan began deploying the no-frills cars in 2014 in small markets such as Indonesia, India, Russia and South Africa where it also sells vehicles under its mainstay Nissan brand.

In Indonesia, for example, after a relatively good start,&nbsp;Datsun&nbsp;cars soon began eating into Nissan sales.

"We ended up pushing two mainstream brands in a market where you have a one or two per cent market share. You cannot do that," one of the sources said, adding that there had been similar outcomes in India, South Africa and Russia.

In its bigger markets, a steady supply of new or significantly redesigned models,&nbsp;starting with the redesigned Altima which was launched in the United States late last year,&nbsp;is expected to help Nissan reset the way it prices its vehicles.

"Still, it takes about a year to get any sort of tangible results," one of the sources said, adding that until then the Japanese automaker would continue to see sales by volume fall in the US&nbsp;market.

Nissan Motor Co Ltd is likely to axe its Datsun brand, drop some unprofitable products and close a number of assembly lines worldwide as it seeks to boost profits by getting smaller, two company sources with direct knowledge of the matter said.

Nissan Motor Co Ltd is likely to axe its Datsun brand, drop some unprofitable products and close a number of assembly lines worldwide as it seeks to boost profits by getting smaller, two company sources with direct knowledge of the matter said. Known internally as the "performance recovery plan", the proposed steps mark a sharp break with Nissan's strategy under ousted leader Carlos Ghosn, who pursued ambitious vehicle sales targets in the United States and other major markets. The plan is the Yokohama-based automaker's latest attempt to pull itself out of crisis after Ghosn was arrested for financial misconduct - charges he denies. The scandal has further strained an already dysfunctional alliance with Renault SA and thrown Nissan into disarray as it finds itself on course to book its lowest operating profit in 11 years. The sources said Nissan will likely kill loss-making variants for the Titan full-size pickup. Unprofitable variants include the single-cab and diesel versions. A planned shuttering of under-utilised production lines will most probably hit plants in emerging markets building Datsun and other small cars hardest, they added. "We need to chart a recovery but the rot goes deep," one of the sources said of the many problems facing Nissan. The second source said all markets with factories except China were being looked at for possible reductions in production capacity. That source also said, however, that there were no plans to close an entire plant or withdraw completely from any country. In the United States, one of Nissan's biggest markets, the plan calls for fresh efforts to weed out the practice of buying market share by selling vehicles to the rental car and other fleet operators at heavy discounts - a practice which destroyed profitability and undermined Nissan's brand image. "We're trying to clean up what had happened in the past," one of the sources said, adding that under Ghosn, Nissan sought to meet sales objectives at any cost, including "practically giving away cars" to fleet customers. A team led by Jun Seki, a senior vice president and incoming vice chief operating officer, is expected to unveil the wide-ranging plan this month though some aspects are still being finalised, said the sources, who were not authorised to speak to media and declined to be identified. Nissan declined to comment. Seki is part of a new management team that will see Makoto Uchida, Nissan's head of China operations, take the helm, an appointment that is expected to take effect by Jan. 1. The new steps follow plans unveiled in July to cut headcount by 12,500 globally by early 2023 and which also flagged cuts to production capacity. At the time, then-CEO Hiroto Saikawa said 14 facilities would be affected. Overall, the plan's aim is to free up resources to focus more on the United States and China, the sources said. To that end, it will roll back an aggressive expansionist strategy Ghosn set in motion under a five-year plan called Power 88 which aimed to raise profit margins and global market share to 8 per cent by fiscal 2016, goals which were never achieved. The Datsun brand - revived for emerging markets under Ghosn after being phased out in the 1980s, will likely bear the brunt of the restructuring. The models are manufactured in Indonesia, India and Russia. The sources said problems emerged after Nissan began deploying the no-frills cars in 2014 in small markets such as Indonesia, India, Russia and South Africa where it also sells vehicles under its mainstay Nissan brand. In Indonesia, for example, after a relatively good start, Datsun cars soon began eating into Nissan sales. "We ended up pushing two mainstream brands in a market where you have a one or two per cent market share. You cannot do that," one of the sources said, adding that there had been similar outcomes in India, South Africa and Russia. In its bigger markets, a steady supply of new or significantly redesigned models, starting with the redesigned Altima which was launched in the United States late last year, is expected to help Nissan reset the way it prices its vehicles. "Still, it takes about a year to get any sort of tangible results," one of the sources said, adding that until then the Japanese automaker would continue to see sales by volume fall in the US market.

Nissan Motor likely to axe Datsun brand: Sources

Maruti Suzuki Ertiga is already a very successful seven-seater vehicle and now, the company has introduced another product based on it. Maruti Suzuki has added a new option in its Nexa range of premium products - the new 'XL6' which comes with an upmarket feel. Here the XL means extra large as it measures slightly extra in terms of length when compared to the Ertiga and the 6 indicates its seating capacity. Yes, the XL6 is offered only as a six-seater featuring captain seats in the second row. Major changes have been done to the exterior while some to the interior as well. There is no change in the mechanicals, so watch the video to know how the new XL6 feels to drive.

Maruti Suzuki XL6 review: Ertiga for the NEXA customers?

Union Finance Minister Nirmala Sitharaman on Friday said that she was regularly in talks with the representatives of the automobile industry and was ready to hold talks with members of other industries as well to accommodate their demands.

"I am interacting with the automobile sector players from all over the country. They have met me twice in Delhi. It is true that consumer demand has not revived for the automobile sector. If any sector wants anything in particular, they can always talk to me," Sitharaman said in response to a question about the slowdown in the automobile sector.

Sitharaman said her press conference was a part of the BJP's plan to interact with the citizens of the state ahead of the Assembly elections in Maharashtra.

"In the context of Assembly elections in Maharashtra, all over the state media interaction has started. The aim is to highlight the good works done by the state government and the Centre in the past five years," said she.

The Finance Minister praised Chief Minister Devendra Fadnavis led state government for helping all sections of the society in the state during its rule.

"Devendra Fadnavis led BJP-Shiv Sena govt in the last 5 years has touched each segment of Maharashtra and addressed the problems of each segment. Fadnavis has comprehensively addressed the issue of water shortage in Maharashtra," Sitharaman said.

"The water shortage issue needs more time and effort. I have, therefore, come to appeal to the voters of Maharashtra to take these factors into consideration as the state goes to polls," she added.&nbsp; 
&nbsp;

Union Finance Minister Nirmala Sitharaman on Friday said that she was regularly in talks with the representatives of the automobile industry and was ready to hold talks with members of other industries as well to accommodate their demands.

Union Finance Minister Nirmala Sitharaman on Friday said that she was regularly in talks with the representatives of the automobile industry and was ready to hold talks with members of other industries as well to accommodate their demands. "I am interacting with the automobile sector players from all over the country. They have met me twice in Delhi. It is true that consumer demand has not revived for the automobile sector. If any sector wants anything in particular, they can always talk to me," Sitharaman said in response to a question about the slowdown in the automobile sector. Sitharaman said her press conference was a part of the BJP's plan to interact with the citizens of the state ahead of the Assembly elections in Maharashtra. "In the context of Assembly elections in Maharashtra, all over the state media interaction has started. The aim is to highlight the good works done by the state government and the Centre in the past five years," said she. The Finance Minister praised Chief Minister Devendra Fadnavis led state government for helping all sections of the society in the state during its rule. "Devendra Fadnavis led BJP-Shiv Sena govt in the last 5 years has touched each segment of Maharashtra and addressed the problems of each segment. Fadnavis has comprehensively addressed the issue of water shortage in Maharashtra," Sitharaman said. "The water shortage issue needs more time and effort. I have, therefore, come to appeal to the voters of Maharashtra to take these factors into consideration as the state goes to polls," she added.

Have regular talks with representatives of automobile industry, willing to hold talks with any other sector: Nirmala Sitharaman

<a href="https://www.wionews.com/business-economy/general-motors-workers-begin-nationwide-strike-in-us-249987">General Motors</a> has laid off 6,000 workers in Mexico temporarily due to a US labour strike, which has disrupted production at two plants south of the border manufacturing pickup trucks, the company said Tuesday.

The layoffs affect the Silao assembly and transmission plants in central Mexico, where work has been "disrupted as a result of a parts shortage related to the UAW strike," a GM spokesman said.

The Silao workers are expected to return to their jobs after the strike, the spokesman said.

GM's Mexican arm notified workers at the Silao assembly plant that they had been placed on indefinite, mandatory vacation and would receive 55 per cent of their pay, according to an internal document obtained by AFP.

However, the company emphasized that no one was permanently laid off.

"There are no layoffs for the moment, we&nbsp;are evaluating the situation day to day and hope to restore normal operations soon, in a matter of days," spokeswoman Teresa Cid told AFP.

The two plants in Silao, Guanajuato state, produce GMC and Chevrolet pickup trucks.

The moves come on top of the furlough of more than 3,000 workers in Canada and at an Ohio plant where GM operates a joint venture with Isuzu to make diesel engines.

Nearly 50,000 US workers are on strike at <a href="https://www.wionews.com/world/gm-recalls-35-mn-vehicles-on-brake-issue-249068">GM</a>&nbsp;due to a United Auto Workers conflict over the labour contract, now in its third week.

Workers launched the strike on September 16 after contract talks failed to yield an agreement on wages, health benefits, temporary workers and job security.

The strike also comes against the backdrop of GM's decision last November to effectively shutter five plants in North America.

A report Tuesday from JPMorgan Chase estimated that the strike has so far cost GM $1 billion, adding that the company has the potential to recover some of the lost profits in the fourth quarter if the strike ends soon.

General Motors has laid off 6,000 workers in Mexico temporarily due to a US labour strike, which has disrupted production at two plants south of the border manufacturing pickup trucks, the company said Tuesday.

General Motors has laid off 6,000 workers in Mexico temporarily due to a US labour strike, which has disrupted production at two plants south of the border manufacturing pickup trucks, the company said Tuesday. The layoffs affect the Silao assembly and transmission plants in central Mexico, where work has been "disrupted as a result of a parts shortage related to the UAW strike," a GM spokesman said. The Silao workers are expected to return to their jobs after the strike, the spokesman said. GM's Mexican arm notified workers at the Silao assembly plant that they had been placed on indefinite, mandatory vacation and would receive 55 per cent of their pay, according to an internal document obtained by AFP. However, the company emphasized that no one was permanently laid off. "There are no layoffs for the moment, we are evaluating the situation day to day and hope to restore normal operations soon, in a matter of days," spokeswoman Teresa Cid told AFP. The two plants in Silao, Guanajuato state, produce GMC and Chevrolet pickup trucks. The moves come on top of the furlough of more than 3,000 workers in Canada and at an Ohio plant where GM operates a joint venture with Isuzu to make diesel engines. Nearly 50,000 US workers are on strike at GM due to a United Auto Workers conflict over the labour contract, now in its third week. Workers launched the strike on September 16 after contract talks failed to yield an agreement on wages, health benefits, temporary workers and job security. The strike also comes against the backdrop of GM's decision last November to effectively shutter five plants in North America. A report Tuesday from JPMorgan Chase estimated that the strike has so far cost GM $1 billion, adding that the company has the potential to recover some of the lost profits in the fourth quarter if the strike ends soon.

General Motors temporarily lays off 6,000 workers in Mexico due to strike

Car behemoth <a href="https://www.wionews.com/business-economy/volkswagen-porsche-to-recall-around-227000-cars-over-airbag-seatbelt-issues-report-250623">Volkswagen will face a German court Monday</a>, as hundreds of thousands of owners of manipulated diesel cars demand compensation four years after the country's largest post-war industrial scandal erupted.

The first hearing in what is likely to be a grinding, years-long trial opens at 0800 GMT&nbsp;in Brunswick, around 30 kilometres from VW headquarters in the northern city of Wolfsburg.

Around 450,000 people have joined a first-of-its-kind grouped proceeding, introduced by lawmakers after the "dieselgate" emissions cheating scandal broke in 2015.

Consumer rights group VZBV, representing the plaintiffs, says the German carmaker deliberately harmed buyers by installing motor control software that allowed vehicles to pollute far more on the road than under lab conditions.

The trial is Germany's largest so far in the tentacular diesel scandal, which last week saw VW chief executive Herbert Diess charged with market manipulation over his role.

50 questions for judges

In the mass lawsuit, the most important of around 50 questions for judges is whether Volkswagen "caused harm" by acting "dishonestly".

Klaus Mueller of VZBV said he is "convinced" the car firm did, while VW says "clients did not suffer harm".

"Hundreds of thousands of cars are used" on the roads without a problem, VW lawyer Martine de Lind van Wijngaarden said.

Even if judges find in favour of plaintiffs, there will not be an immediate compensation payment.

Rather, every owner registered in the trial will have to claim individually.

<a href="https://www.wionews.com/world/seoul-to-fine-volkswagen-over-illicit-emissions-devices-244423">VW thinks a final judgement could arrive in 2023</a> at the earliest, if the case is appealed all the way to the Federal Court of Justice.

Individual proceedings could then take at least another year -- in the court of the first instance.

By then, the cars' market value could have eroded to a negligible amount, making a buyback cheaper for the firm.

To avoid such delays, the VZBV says it is "open" to an out-of-court settlement but "in that case, VW would have to pay a significant sum after all," Mueller told AFP.

Given the wide variety of cases under the group action umbrella, VW finds a mass settlement "hard to imagine".

In early July, judges noted in a preliminary opinion that some owners listed among the plaintiffs were living abroad.

That could mean German law does not apply to them.

Volkswagen said two per cent of those listed live abroad and 10 per cent are duplicate entries.

Alongside the grouped proceeding, 61,000 individual lawsuits have been filed in Germany, and some have already led to out-of-court settlements.

30 billion euros

Since 2015, when <a href="https://www.wionews.com/india-news/ngt-panel-orders-volkswagen-to-pay-rs-100-crore-fine-in-emissions-case-190884">Volkswagen admitted to manipulating 11 million vehicles</a> worldwide to fool emissions tests, the scandal has cost the group over 30 billion euros&nbsp;in fines, compensation and legal costs.

Most of that sum - $22 billion - has gone to the US, while in Germany VW has so far paid just 2.3 billion dollars spread across three fines.

Alongside car owners, investors are claiming damages for losses they suffered when the group's share price plummeted after it came clean.

And earlier this week, Chief Executive Herbert Diess and supervisory board chief Hans Dieter Poetsch were charged with market manipulation.

Former chief executive Martin Winterkorn, who stepped down over the scandal, has been also charged with fraud.

Away from the legal battlegrounds, "dieselgate" has sped up the fuel's decline from its status as lower-carbon alternative to petrol, favoured with government subsidies.

In Germany, its market share among new registrations has fallen from 46 to 33 per cent, and the level of nitrogen oxides (NOx) emitted by the cars risks earning them bans from some city centres.

The diesel scandal is "part of the group's history" just like the famous Beetle and Golf models, says VW brand chief Ralf Brandstaetter.

But he adds the company has "profoundly changed", investing 30 billion euros in a new electric range to "regain society's respect."

"The diesel crisis was a catalyst for our transformation," Brandstaetter told AFP in a recent interview.

Car behemoth Volkswagen will face a German court Monday, as hundreds of thousands of owners of manipulated diesel cars demand compensation four years after the country's largest post-war industrial scandal erupted.

Car behemoth Volkswagen will face a German court Monday, as hundreds of thousands of owners of manipulated diesel cars demand compensation four years after the country's largest post-war industrial scandal erupted. The first hearing in what is likely to be a grinding, years-long trial opens at 0800 GMT in Brunswick, around 30 kilometres from VW headquarters in the northern city of Wolfsburg. Around 450,000 people have joined a first-of-its-kind grouped proceeding, introduced by lawmakers after the "dieselgate" emissions cheating scandal broke in 2015. Consumer rights group VZBV, representing the plaintiffs, says the German carmaker deliberately harmed buyers by installing motor control software that allowed vehicles to pollute far more on the road than under lab conditions. The trial is Germany's largest so far in the tentacular diesel scandal, which last week saw VW chief executive Herbert Diess charged with market manipulation over his role. 50 questions for judges In the mass lawsuit, the most important of around 50 questions for judges is whether Volkswagen "caused harm" by acting "dishonestly". Klaus Mueller of VZBV said he is "convinced" the car firm did, while VW says "clients did not suffer harm". "Hundreds of thousands of cars are used" on the roads without a problem, VW lawyer Martine de Lind van Wijngaarden said. Even if judges find in favour of plaintiffs, there will not be an immediate compensation payment. Rather, every owner registered in the trial will have to claim individually. VW thinks a final judgement could arrive in 2023 at the earliest, if the case is appealed all the way to the Federal Court of Justice. Individual proceedings could then take at least another year -- in the court of the first instance. By then, the cars' market value could have eroded to a negligible amount, making a buyback cheaper for the firm. To avoid such delays, the VZBV says it is "open" to an out-of-court settlement but "in that case, VW would have to pay a significant sum after all," Mueller told AFP. Given the wide variety of cases under the group action umbrella, VW finds a mass settlement "hard to imagine". In early July, judges noted in a preliminary opinion that some owners listed among the plaintiffs were living abroad. That could mean German law does not apply to them. Volkswagen said two per cent of those listed live abroad and 10 per cent are duplicate entries. Alongside the grouped proceeding, 61,000 individual lawsuits have been filed in Germany, and some have already led to out-of-court settlements. 30 billion euros Since 2015, when Volkswagen admitted to manipulating 11 million vehicles worldwide to fool emissions tests, the scandal has cost the group over 30 billion euros in fines, compensation and legal costs. Most of that sum - $22 billion - has gone to the US, while in Germany VW has so far paid just 2.3 billion dollars spread across three fines. Alongside car owners, investors are claiming damages for losses they suffered when the group's share price plummeted after it came clean. And earlier this week, Chief Executive Herbert Diess and supervisory board chief Hans Dieter Poetsch were charged with market manipulation. Former chief executive Martin Winterkorn, who stepped down over the scandal, has been also charged with fraud. Away from the legal battlegrounds, "dieselgate" has sped up the fuel's decline from its status as lower-carbon alternative to petrol, favoured with government subsidies. In Germany, its market share among new registrations has fallen from 46 to 33 per cent, and the level of nitrogen oxides (NOx) emitted by the cars risks earning them bans from some city centres. The diesel scandal is "part of the group's history" just like the famous Beetle and Golf models, says VW brand chief Ralf Brandstaetter. But he adds the company has "profoundly changed", investing 30 billion euros in a new electric range to "regain society's respect." "The diesel crisis was a catalyst for our transformation," Brandstaetter told AFP in a recent interview.

Volkswagen faces first mammoth diesel lawsuit on home turf

Volkswagen and Porsche have to recall around 227,000 cars due to problems with airbags and seatbelt pre-tensioners, Germany's Stuttgarter Zeitung said on Thursday.

The newspaper said the Tiguan, Sharan, and CC models built in 2015 as well as the Porsche 911, Boxter, Cayman, and Panamera models from 2015 and 2016. It cited Germany's Kraftfahrt-Bundesamt (KBA) federal motor authority as saying the cars needed an update to the software of the airbag control units.

Volkswagen said 227,000 VW and Porsche cars were affected, citing possible problems with airbags in some of them and adding that new software needed to be installed.

A spokesman for Porsche said around 23,500 Porsche models could be affected by airbags or seatbelt pre-tensioners triggering even if the vehicle was not involved in an accident. It said the models affected were built in 2015 and 2016 and added that of the vehicles affected, around 3,900 were in Germany.

 
&nbsp;

Volkswagen and Porsche have to recall around 227,000 cars due to problems with airbags and seatbelt pre-tensioners, Germany's Stuttgarter Zeitung said on Thursday.

Volkswagen and Porsche have to recall around 227,000 cars due to problems with airbags and seatbelt pre-tensioners, Germany's Stuttgarter Zeitung said on Thursday. The newspaper said the Tiguan, Sharan, and CC models built in 2015 as well as the Porsche 911, Boxter, Cayman, and Panamera models from 2015 and 2016. It cited Germany's Kraftfahrt-Bundesamt (KBA) federal motor authority as saying the cars needed an update to the software of the airbag control units. Volkswagen said 227,000 VW and Porsche cars were affected, citing possible problems with airbags in some of them and adding that new software needed to be installed. A spokesman for Porsche said around 23,500 Porsche models could be affected by airbags or seatbelt pre-tensioners triggering even if the vehicle was not involved in an accident. It said the models affected were built in 2015 and 2016 and added that of the vehicles affected, around 3,900 were in Germany.

Volkswagen, Porsche to recall around 227,000 cars over airbag, seatbelt issues: Report

Gravitas Future Feature: The Future Of Commute

August Automobile Sales Down 23% Across Segments.

Gravitas: Auto Sales Slowdown: Impact On Economy

Maruti Suzuki India Ltd Chairman RC&nbsp;Bhargava said on Tuesday the company had not renewed the contracts of 3,000 temporary employees, as the automaker battled rising inventory amid a slowdown in demand.

Safety norms and higher taxes have "added substantially" to the cost of cars, affecting their affordability, Bhargava told shareholders at the company's annual general meeting.

With India's auto sales declining for the ninth straight month in July, more automotive manufacturers are laying off workers and temporarily halting production to keep costs in check, Reuters reported on Saturday.

The company is on track to meet the country's new emission norms, adding that the company will move towards manufacturing compressed natural gas (CNG) and hybrid cars.

Maruti plans to increase CNG vehicles by 50% this year, Bhargava said.

Maruti Suzuki India Ltd Chairman RC Bhargava said on Tuesday the company had not renewed the contracts of 3,000 temporary employees, as the automaker battled rising inventory amid a slowdown in demand.

Maruti Suzuki India Ltd Chairman RC Bhargava said on Tuesday the company had not renewed the contracts of 3,000 temporary employees, as the automaker battled rising inventory amid a slowdown in demand. Safety norms and higher taxes have "added substantially" to the cost of cars, affecting their affordability, Bhargava told shareholders at the company's annual general meeting. With India's auto sales declining for the ninth straight month in July, more automotive manufacturers are laying off workers and temporarily halting production to keep costs in check, Reuters reported on Saturday. The company is on track to meet the country's new emission norms, adding that the company will move towards manufacturing compressed natural gas (CNG) and hybrid cars. Maruti plans to increase CNG vehicles by 50% this year, Bhargava said.

Maruti Suzuki cuts 3,000 contract jobs

The going is getting tough for India's auto sector. For 9 consecutive months, sales have fallen. This has forced

Gravitas: Auto Sector Faces worst Crisis in 20 years

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