Tuesday 26 July 2016

GM raises full-year forecast after strong second-quarter profit

General Motors Co on Thursday raised its forecast for full-year profits after reporting a record second-quarter profit as it continued to capitalise on strong sales of pickup trucks and sport utility vehicles in the US. The earnings handily beat Wall Street expectations, sending


VW profit tops forecast, but takes another dieselgate hit

Volkswagen said cost cutting and rising European car sales helped it to beat first-half underlying profit forecasts, though it set aside another €2.2 billion euros ($2.4 billion) to cover costs related to its "dieselgate" emissions scandal. Europe's biggest car


Hyundai plans standalone store for luxury brand

Hyundai Motor on Thursday said it plans to open its first dedicated store for its Genesis luxury car line near Seoul later this year, as the South Korean automaker looks to build a separate identity for the brand. Hyundai Motor, best known as a value automaker, launched Genesis a


Volkswagen's Audi plans electric car push to put heat on Tesla

Audi will aim for electric cars to account for a quarter of its sales by 2025 as part of a strategic overhaul following the emissions scandal at parent Volkswagen, company sources said, in a move that could step up the challenge to US group Tesla. Audi, which has been slow to emb


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