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Tag: Auto Industry

Ford's third-quarter profit will be hit by the cancellation of its electric SUV

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Ford's third-quarter profit will be hit by the cancellation of its electric SUV

DETROIT (AP) — Stubbornly high warranty costs and sluggish cost-cutting efforts are holding back Ford Motor Co.'s profits this year, prompting the company to cut its full-year profit forecast. This sent the company's share price down 6% in trading after the closing bell on Monday. The Dearborn, Mich., automaker, which reported its third-quarter results on […]

According to Volkswagen's works council, the carmaker plans to close at least three German plants

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According to Volkswagen's works council, the carmaker plans to close at least three German plants

BERLIN (AP) — Volkswagen has told employee representatives that it plans to close at least three plants in Germany, the company's works council chairman said Monday. Works council chief Daniela Cavallo said at a meeting with Volkswagen employees at the company's headquarters in Wolfsburg that management was also planning cuts at other locations and promised […]

Ratan Tata, former chairman of India's Tata Sons, dies at the age of 86

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Ratan Tata, former chairman of India's Tata Sons, dies at the age of 86

NEW DELHI (AP) — Ratan Tata, a former chairman of Indian conglomerate Tata Sons, died Wednesday evening in a Mumbai hospital. He was 86. Tata Sons chairman N. Chandrasekaran confirmed Tata's death, describing him as his “friend, mentor and guide” in a statement. He did not give a cause of death. Tata was admitted this […]