Auto Industry

AFP

Oct 31, 2021, 7:51 PM

Auto Parts Giant Continental Cuts Outlook As Supply Bottleneck Tightens

Continental's sales in the third quarter were down year-on-year by 8.5 percent to 8 billion euros as the supply crisis worsened, according to preliminary figures published alongside the outlook revision.

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  Reuters | Oct 31, 2021

  Online Insurer Acko Raises $255 Million For Expansion Drive

  The funds will also be used to develop new insurance products, for taking them to customers, as well as for fostering partnerships in the wider health economy including with hospitals.

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  AFP | Oct 31, 2021

  Ghosn Aide Kelly Seeks Acquittal In Tokyo Trial

  Japanese prosecutors are seeking a two-year prison sentence for Kelly, a US citizen and former aide to ex-Nissan chief Carlos Ghosn.

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  AFP | Oct 31, 2021

  GM Q3 Profit Drops Amid Semiconductor Crunch

  Profits fell 41 percent to $2.4 billion following a 24 percent drop in revenues to $26.8 billion amid a broad-based decline in sales in all markets and across models.

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  AFP | Oct 31, 2021

  Volvo Cars Shares Soar After IPO

  The price per share for the offering had been set at 53 Swedish kronor, at the bottom end of the range Volvo announced last week of between 53 and 68 kronor per share ahead of its initial public offering (IPO).

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  AFP | Oct 31, 2021

  Ford Lifts Forecast, Citing Better Semiconductor Supply

  The Detroit giant, which has joined other major automakers in cutting back production amid a global chip shortage, saw lower revenues tied to a drop in car sales compared with the year-ago period.

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  AFP | Oct 31, 2021

  Daimler Quarterly Profits Up Despite Chip Crisis

  The Mercedes-Benz maker said in a statement its net profit surged 19 percent year-on-year to 2.57 billion euros ($3.0 billion) while earnings before interest and taxes rose four percent to 3.61 billion euros.

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  Reuters | Oct 31, 2021

  Didi's Ride Hailing Rival T3 Raises $1.2 Billion To Expand

  T3's funding round comes as ride-hailing companies step up efforts to take market share from China's ride-hailing market leader Didi Global Inc.

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  Reuters | Oct 31, 2021

  Tesla Hikes Price Of Model X, Model S Variants By $5,000

  The Model X Long Range and Model S Long Range now sell for $104,990 and $94,990 respectively.

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