Tag: Cars
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German Car Sales Rebound in September
German car sales have witnessed a rebound in September.
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ECC Increases Import Limit of Duty Free Cars under Disabled Persons Scheme
The EDC has increased the import limit of duty free cars under the Disabled Persons Scheme.
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Increase in sales of used cars in Corona Lockdown
Increase in sales of used cars during lockdown due to the ongoing Coronavirus pandemic. According to a report by Baaghi TV, a lockdown has been imposed in India due to the corona virus. Public transport is also closed during the lockdown, which has seen an increase in sales of second-hand vehicles and cars. ‘Now is…
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‘Future is electric’: Porsche sets out plans to battle Tesla in US
Los Angeles, Nov 20 (AFP/APP): More than half the cars produced by Porsche will be electric by 2025, the German manufacturer’s North American chief said Tuesday as he set out plans to overtake market leader Tesla. “The future is electric,” Klaus Zellmer told the Los Angeles Auto Show, adding that the brand’s commitment to battery-powered…
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Nissan slashes full-year forecast as first-half profit falls
Yokohama, Japan, Nov 12 (AFP/APP): Crisis-hit Japanese automaker Nissan Tuesday slashed its full-year forecast for both sales and profit as it struggles with weak demand in Japan, the US and Europe, as well as fallout from the arrest of former boss Carlos Ghosn. Nissan downgraded its net profit forecast to 110 billion yen ($1 billion)…
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Toyota first-half net profit up 2.6% on sales, cost cuts
Tokyo, Nov 7 (AFP/APP): Japanese car giant Toyota said on Thursday its first-half net profit edged up from a year earlier, thanks to solid sales and cost-cutting efforts. The maker of the Camry sedan and Prius hybrid reported net profit rose 2.6 percent to 1.27 trillion yen ($11.7 billion) in April-September. The company kept its…
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PSA and Fiat Chrysler unveil merger of equals
Paris, Oct 31 (AFP/APP): PSA and Fiat Chrysler unveiled Thursday a plan for a 50-50 merger of their operations to create the world’s fourth-largest car manufacturer that would generate billions in savings without factory closures. In a joint statement the French and US-Italian carmakers said their boards of directors “have each unanimously agreed to work…
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Toyota boosts presence in Poland on Brexit woes: media
Warsaw, Oct 28 (AFP/APP): Toyota said on Monday that it would boost production of components for hybrid vehicles at its plants in EU member Poland, with local media reporting the choice of location was underpinned by uncertainty over Brexit. Toyota Motor Europe said it would invest 140 million euros ($155 million) in Poland to increase…
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S&P cuts Ford’s debt rating, citing weak profits
Washington, Oct 26 (AFP/APP): Ratings agency S&P on Friday knocked down Ford’s debt rating to BBB-, a notch above junk, saying falling sales and rising costs were eroding the US auto giant’s margins. The move follows last month’s similar downgrade by Moody’s, which cut Ford to junk status, and comes two days after the company…
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Honda Atlas Cars’ profit down by 77%
KARACHI 24th July: Earnings of Honda Atlas Cars took a massive hit in the quarter ended June 2019 as profits dived 77% on the back of declining revenues. The company reported after-tax profit of Rs241.7 million in the quarter ended June 30, 2019 compared to Rs1.05 billion in the same period of previous year, according…