Author: Central Desk

Honda has revised its earnings outlook upward for the fiscal year concluding March 31, buoyed by substantial profitability gains throughout its third quarter. This recalibration forecasts annual profits at $8.4 billion, a 4.2% enhancement from the prior $8 billion target. The adjustment reflects Honda’s stellar performance, particularly a 35% surge in operating profits during the October-to-December span, reaching approximately $2.5 billion, driven by a significant uptick in global sales across 2023. The automaker reported the sale of almost 4 million units last year, marking a 5.6% increase. Noteworthy is the brand’s triumph in the U.S. market, where deliveries escalated by…

Georgia stands at the forefront of automotive industry evolution, capturing significant investment from leading entities within the electric vehicle (EV) sphere. This surge underscores the state’s critical role amidst the shift towards green technology and sustainable manufacturing, heralding a new epoch of industrial vigor and ingenuity. Doowon Climate Control America, a progeny of the South Korean automotive titan known for its expertise in climate control systems, pledges over $30 million toward the establishment of a new production stronghold in Metter, Candler County. This initiative, poised to create 200 employment opportunities, strategically positions itself to bolster supply chains for Kia Motors…

Ford Motors emerges as a paragon of resilience and strategic foresight during a challenging economic landscape. The venerable American automaker unveiled its financial achievements for the concluding quarter of 2023 and the entirety of the year, surpassing analyst projections and underscoring the firm’s adept strategy for navigating future uncertainties, especially within the electric vehicle (EV) domain. For the quarter concluding in December 2023, Ford reported an exceptional $43.2 billion in automotive revenue, eclipsing forecasts by approximately $3 billion and besting the analogous period in 2022 by $1.4 billion. This accomplishment unfolded despite the firm registering a net loss of $526…

Volkswagen’s unveiling of a unique convertible variant of the Virtus at its Sao Bernardo do Campo facility, São Paulo, Brazil, marks a notable event in the automotive world. Launched in 2022, the Virtus, developed on the MQB A0 IN platform in India, represents Volkswagen’s strategic push into international markets, with Brazil now hosting this distinctive prototype. Known as Virtus Cabrio, this singular open-top version of the mid-size sedan was revealed to coincide with the visit of Brazilian President Luiz Inacio Lula da Silva, adding ceremonial significance to its introduction. Engineering Mastery and Bespoke Features The Virtus Cabrio amalgamates elements from…

Toyota embarks on an electrification journey with a strategic $1.3 billion infusion into its premier Kentucky facility, signifying a bold commitment to electric vehicle (EV) innovation and the enhancement of vehicle quality and employment stability within the United States. This significant investment introduces a groundbreaking, three-row battery electric SUV tailored for the U.S. consumer base, marking a pivotal advancement in Toyota’s electrification endeavors. The initiative encompasses the introduction of BEV assembly at Toyota Kentucky, complemented by a new battery pack assembly line, with Toyota Battery Manufacturing North Carolina providing the necessary batteries. This initiative represents a collaborative effort across Toyota’s…

Daimler Buses Solutions GmbH has initiated construction for an innovative e-bus depot The Hague. This endeavor, commenced at January’s end, stands as one of the subsidiary’s major forays into public transport electrification, aiming to revolutionize The Hague’s mobility landscape. This ambitious project encompasses the comprehensive electrification of HTM Personenvervoer NV’s depot, a principal operator within the Dutch city. Tasked with the installation of a complete ;e-system,’ Daimler Buses Solutions GmbH will implement 41 charging stations equipped with 122 charging points, supporting charging management, software, and operational concepts. The facility’s commissioning, scheduled for this year’s third quarter, aligns with Daimler Buses’…

BMW has unveiled a monumental $750 million infusion into the production of electric Mini vehicles at its Oxford plant, England, offering a beacon of optimism for the UK’s auto manufacturing realm. This investment, arriving during times of Brexit uncertainty and the auto industry’s pivot to electrification, reinforces BMW’s dedication to UK craftsmanship in automotive engineering. British Icon Electrified Opting to enhance its existing UK facilities, BMW will commence the manufacture of two electric Mini models: the Mini Cooper sedan and the Mini Aceman SUV. This decision underlines BMW’s allegiance to its British operations, despite speculation about a complete shift of…

Mitsubishi Motors heralds a new era of international market engagement through the commencement of Xforce compact SUV exports, a strategic move that amplifies the automotive behemoth’s global footprint. This initiative, rooted in the company’s Indonesian manufacturing hub, PT Mitsubishi Motors Krama Yudha Indonesia (MMKI), signifies a pivotal step in Mitsubishi’s quest to cater to a worldwide audience from Southeast Asia and beyond. The launch occurred at Tanjung Priok port, situated a mere 10 kilometers from Jakarta, attended by dignitaries from Indonesian and Japanese governments alongside Mitsubishi Motors stakeholders. This assembly underscores the collaborative and international partnership driving this venture. Vietnam…

Pakistan contemplates a revolutionary shift within its automotive sector, marking a pivitol moment for its economy. For decades, a high tariff barrier of over 45% on imported vehicles, as quantified by the Pakistan Institute of Development Economics (PIDE), has insulated Pakistan auto manufacturers from the rigors of international competition. The landscape shifts as the nation seeks economic rejuvenation and a remedy for its persistent trade deficit. Debates focus on an innovative ‘super tax’ tied to export performance, proposing a paradigm shift from protectionism towards export orientation. Companies entrenched in the local market could see a 60% tax on profits, a…

As the automotive world accelerates towards electric vehicles (EVs), Toyota, the global leader in auto sales for the fourth year running as of 2023, stands out with its renewed pledge to advance internal combustion engine (ICE) technology. Akio Toyoda, the company’s chairman, announced this commitment at Toyota’s Vision Briefing in Japan, signaling a distinctive strategy amidst an industry-wide rush towards electrification. Toyota’s approach defies the prevailing trend by banking on a future where EVs do not overshadow the market. Toyoda anticipates EVs capturing a mere 30% of the global car market share, a forecast supported by Toyota’s 2023 sales data,…