Author: Central Desk

Stellantis issued a profit warning on Monday, becoming the second major automaker in four days to revise its financial outlook downward. The global car industry faces increased pressure from rising competition, particularly from China, causing Stellantis to lower its full-year forecast. Automotive giant experienced a sharp decline in its share price, dropping by around 15% in European trading. Similar declines were anticipated in the U.S. market after the announcement. Stellantis indicated that it will fall short of achieving a double-digit underlying operating profit margin and positive net cash flow in its core manufacturing business this year. “Competitive dynamics have intensified…

Scania has become the first truck manufacturer in the world to successfully integrate reused components directly into its main assembly line. This move happened in Sweden earlier this year as part of the iReGear research project, carried out in collaboration with KTH Royal Institute of Technology and Scandinavian Transmission Service AB, with funding from Vinnova, Sweden’s innovation agency. The project focused on remanufacturing a gearbox, which underwent the same stringent quality and functionality checks as gearboxes made entirely from new materials. Tested on Scania’s regular production line, the gearbox met over 100 quality parameters, proving it was just as good…

Hyundai Motor Company has reached a major milestone, producing 100 million vehicles globally since its foundation 57 years ago. This achievement places the South Korean automaker among the fastest-growing companies in the global automotive industry. To mark this historic moment, Hyundai delivered its 100 millionth and first vehicle, a Hyundai Ioniq 5, to a customer at the Ulsan plant in South Korea. Jaehoon Chang, President and CEO of Hyundai Motor Company, expressed gratitude towards customers worldwide for their ongoing support. He credited Hyundai’s rapid growth to its dedication to bold challenges and innovation, setting the company on a path toward…

California Governor Gavin Newsom vetoed a bill that would have required new vehicles to alert drivers when they exceed the speed limit. The speeding alerts aimed to reduce traffic deaths by making California the first U.S. state to mandate speed alert technology for all new cars, trucks, and buses starting in 2030. The bill sought to introduce intelligent speed assistance systems, which use GPS to compare a vehicle’s speed against posted limits. Vehicles exceeding the speed limit by at least 10 mph (16 kph) would emit an audio and visual alert. Exceptions would apply to emergency vehicles, motorcycles, and motorized…

Mercedes-Benz is set to discontinue the coupe versions of its GLC and GLE SUVs by 2026, according to German newspaper Handelsblatt. These models, featuring a sloping roofline for a sportier look, have seen declining sales, prompting the potential move. The GLC Coupe and GLE Coupe, based on the standard GLC and GLE SUVs, have struggled to maintain strong sales. Mercedes-Benz has yet to confirm the discontinuation. This decision comes as Mercedes-Benz adapts its lineup to market demands amid a drop in sales. In the first half of 2024, global sales fell by 6%, with revenue down 4.1% and profits dropping…

Xpeng Motors, a leader in AI mobility, has launched its operations in Spain and Portugal. This initiative is in partnership with the Salvador Caetano Group, which will handle the distribution across both countries. Xpeng’s entry into these markets is part of its broader strategy to lead the transformation of AI-enhanced mobility in Europe. In Spain, Xpeng has established a robust commercial presence, including a network for sales and after-sales services with 10 dealerships in major cities such as Madrid, Barcelona, Seville, and Malaga. In Portugal, the company has initiated operations with sales outlets in Lisbon and Porto, and plans to…

Scania, a well-known truck manufacturer, and Fortescue, an Australian mining company, partnered to develop a new, fully autonomous truck system designed to operate in mines The partnership harnesses Scania’s robust experience in the mining sector alongside Fortescue’s advanced autonomous technology. Together, they are set to develop, test, and validate an autonomous road train at Fortescue’s Christmas Creek iron ore operations in Queensland, Australia. Manfred Streit, Managing Director at Scania Australia, highlighted the sustainability aspect of the project. “By utilising Scania’s extensive knowledge in supplying trucks to the mining industry and our expertise in autonomous driving, the Road Train solution will…

Strada Motors, which represents global brands like FIAT, Jeep, Alfa Romeo, Dodge, and RAM, has become the official dealer for Chevrolet in Georgia. Founded in 2010, Strada Motors has earned a reputation as one of the most reliable and customer-focused companies in the country, serving around 1,000 customers each month. The new Chevrolet center, located at 188 David Agmashenebeli Alley, Tbilisi, marks a major milestone for the brand in Georgia. This achievement follows an agreement with General Motors, allowing the sale of Chevrolet’s affordable and reliable vehicles in the country. After years of discussions with international partners, Strada Motors is…

MAN Truck & Bus has introduced a new digital service, MAN SimplePay, in collaboration with UTA Edenred, a leading European mobility service provider. This innovative platform aims to streamline fleet management by offering customers greater transparency and control over their operating costs. MAN SimplePay allows users to digitally store fuel and charging cards, enabling fleet managers to prioritize them for specific vehicles. The platform is hosted on the RIO system, where it consolidates various day-to-day business costs, such as fuel, parking, and vehicle washing, into one user-friendly interface. This provides a clear overview of expenses, simplifying cost management for fleet…

Jaguar Land Rover (JLR) invests £500 million to overhaul its historic Halewood plant. The site, initially built in 1963 for the production of the Ford Anglia, is undergoing a transformation that will facilitate the production of electric vehicles (EVs) alongside existing combustion and hybrid models. This major capital injection is part of a larger initiative to prepare JLR’s operations for the electric age. £250 million has already been channelled into the project, with more than one million hours of construction logged over the past 12 months. The expansion added 32,364 square meters to the facility, designed to produce JLR’s medium-sized…