Latest news with #automobile
NHK
5 hours ago
- Automotive
- NHK
Nissan, Mazda halt US production of vehicles for Canada
Japanese automakers Nissan and Mazda will continue suspending US production of vehicles destined for Canada. This may last until the outcome of tariff talks between the two nations is known. Canada imposed a 25-percent tariff on automobile imports from the US. This is in retaliation for the same-rate tariffs slapped on by the Trump administration. Since May, Nissan has halted production of three models for Canada at plants in the US states of Tennessee and Mississippi. This includes large SUVs. Mazda has also paused production of some models for Canada at its Alabama plant since May. In addition, it has switched production lines to making vehicles for the US domestic market. The automakers say they are taking these measures to hold down the tariff burden when exporting products from the US to Canada. Nissan officials said they hoped the US and Canada would reach a tariff agreement. Mazda officials have said they will consider flexible and appropriate measures while carefully assessing tariff negotiations.
NHK
a day ago
- Automotive
- NHK
Nissan to cease auto production at mainstay plant in Japan
Japanese automobile manufacture Nissan Motor has announced that it will cease vehicle production at its mainstay Oppama plant near Tokyo as part of its restructuring efforts. The struggling Japanese automaker said on Tuesday that production at Oppama in Kanagawa Prefecture will be halted at the end of March 2028. Nissan also said it would transfer production to facilities run by the company's unit in Fukuoka Prefecture, southwestern Japan. It said the research center, the crash test site and other facilities on the plant's compound will be retained and will continue to operate as before. The carmaker said it will consider a wide range of options on how to utilize the plant in the future. To achieve its restructuring target, Nissan earlier announced that it will cut its group-wide payroll by 20,000 workers and reduce the number of factories by seven in and outside Japan. Nissan President and CEO Ivan Espinosa told reporters: "It was a difficult decision for both myself and the company. However, we believe it is necessary for Nissan to overcome its current challenging situation and return to our growth trajectory." The Oppama plant, which began operation in 1961, rolled out many of Nissan's signature models, such as the Bluebird and the March. However, in the face of slumping business in recent years, the plant's low operation rate was posing a major challenge. The plant currently employs around 2,400 people. Nissan said it will retain the workforce until the end of March 2028 and notify workers as soon as the company comes up with specific future plans. Nissan said vehicle production will also be terminated at a Nissan subsidiary's Shonan plant near Tokyo. Espinosa said, "There will be no other reduction or consolidation of vehicle production sites in Japan." He added Nissan will announce any decision on the closure of overseas production bases at the appropriate time.
Reuters
a day ago
- Automotive
- Reuters
European shares edge higher as US-EU trade talks hopes buoy sentiment
July 15 (Reuters) - European shares nudged higher on Tuesday, driven by automobile stocks, as sentiment improved after U.S. President Donald Trump signalled a readiness to negotiate tariffs with the European Union. The pan-European STOXX 600 index (.STOXX), opens new tab gained 0.2% to 547.74 points, as of 0711 GMT. Other regional indexes also traded higher. On Monday, the European Union accused the U.S. of resisting efforts to strike a trade deal and warned of countermeasures if no agreement is reached. Trump, meanwhile, said he was open to talks with the EU and other trading partners, adding that EU officials would be coming to the U.S. for trade negotiations. Trump had escalated trade tensions over the weekend, threatening a 30% tariff on most EU imports from August 1. In the market, auto stocks (.SXAP), opens new tab rose 0.9%, technology stocks (.SX8P), opens new tab advanced 0.8%, while telecoms shares (.SXKP), opens new tab fell 0.8%. Orsted ( opens new tab rose 5.5% after Morgan Stanley raised the Danish offshore wind developer to "Overweight" from "Equal Weight". On the data front, euro zone industrial production data for May and Germany's ZEW Economic Sentiment for July are due on Tuesday. In the U.S., earnings season is also set to begin on Tuesday, with second-quarter reports from major banks, while investors also await U.S. consumer price data for June due later in the day.
Yahoo
2 days ago
- Automotive
- Yahoo
A Look Back at Automobile Manufacturing Stocks' Q1 Earnings: Lucid (NASDAQ:LCID) Vs The Rest Of The Pack
Let's dig into the relative performance of Lucid (NASDAQ:LCID) and its peers as we unravel the now-completed Q1 automobile manufacturing earnings season. Much capital investment and technical know-how are needed to manufacture functional, safe, and aesthetically pleasing automobiles for the mass market. Barriers to entry are therefore high, and auto manufacturers with economies of scale can boast strong economic moats. However, this doesn't insulate them from new entrants, as electric vehicles (EVs) have entered the market and are upending it. This has forced established manufacturers to not only contend with emerging EV-first competitors but also decide how much they want to invest in these disruptive technologies, which will likely cannibalize their legacy offerings. The 7 automobile manufacturing stocks we track reported a strong Q1. As a group, revenues beat analysts' consensus estimates by 4.5%. Luckily, automobile manufacturing stocks have performed well with share prices up 10.7% on average since the latest earnings results. Founded by a former Tesla Vice President, Lucid Group (NASDAQ:LCID) designs, manufactures, and sells luxury electric vehicles with long-range capabilities. Lucid reported revenues of $235 million, up 36.1% year on year. This print fell short of analysts' expectations by 0.9%, but it was still a strong quarter for the company with an impressive beat of analysts' sales volume estimates and a solid beat of analysts' adjusted operating income estimates. "We continued to build momentum in the first quarter as we achieved yet another delivery record, further strengthened our market position, and executed against operational priorities," said Marc Winterhoff, Interim CEO at Lucid. Lucid achieved the fastest revenue growth of the whole group. Investor expectations, however, were likely higher than Wall Street's published projections, leaving some wishing for even better results (analysts' consensus estimates are those published by big banks and advisory firms, not the investors who make buy and sell decisions). The stock is down 1.3% since reporting and currently trades at $2.29. Read why we think that Lucid is one of the best automobile manufacturing stocks, our full report is free. Created through the acquisition and merger of various RV manufacturers, THOR Industries manufactures and sells a range of recreational vehicles, including motorhomes and travel trailers, catering to consumers seeking the freedom and comfort of the RV lifestyle. THOR Industries reported revenues of $2.89 billion, up 3.3% year on year, outperforming analysts' expectations by 10.1%. The business had an incredible quarter with an impressive beat of analysts' EPS estimates and a solid beat of analysts' EBITDA estimates. The market seems happy with the results as the stock is up 13.3% since reporting. It currently trades at $93.23. Is now the time to buy THOR Industries? Access our full analysis of the earnings results here, it's free. Originally founded by Martin Eberhard and Marc Tarpenning in 2003, Tesla (NASDAQ:TSLA) is an electric vehicle company accelerating the world's transition to sustainable energy. Tesla reported revenues of $19.34 billion, down 9.2% year on year, falling short of analysts' expectations by 8.1%. It was a disappointing quarter as it posted a miss of analysts' revenue estimates, as Services, Automotive, and Energy all missed and a significant miss of analysts' operating income estimates. Tesla delivered the weakest performance against analyst estimates and slowest revenue growth in the group. Interestingly, the stock is up 31.3% since the results and currently trades at $312.80. Read our full analysis of Tesla's results here. Founded in 1908 by William C. Durant, General Motors (NYSE:GM) offers a range of vehicles and automobiles through brands such as Chevrolet, Buick, GMC, and Cadillac. General Motors reported revenues of $44.02 billion, up 2.3% year on year. This number topped analysts' expectations by 2.7%. Taking a step back, it was a mixed quarter as it also recorded a narrow beat of analysts' adjusted operating income estimates but a significant miss of analysts' EBITDA estimates. The stock is up 12.9% since reporting and currently trades at $53.29. Read our full, actionable report on General Motors here, it's free. Established to make automobiles accessible to a broader segment of the population, Ford (NYSE:F) designs, manufactures, and sells a variety of automobiles, trucks, and electric vehicles. Ford reported revenues of $40.66 billion, down 5% year on year. This result beat analysts' expectations by 4.3%. It was a stunning quarter as it also produced an impressive beat of analysts' EPS estimates and a solid beat of analysts' EBITDA estimates. The stock is up 15.6% since reporting and currently trades at $11.78. Read our full, actionable report on Ford here, it's free. As a result of the Fed's rate hikes in 2022 and 2023, inflation has come down from frothy levels post-pandemic. The general rise in the price of goods and services is trending towards the Fed's 2% goal as of late, which is good news. The higher rates that fought inflation also didn't slow economic activity enough to catalyze a recession. So far, soft landing. This, combined with recent rate cuts (half a percent in September 2024 and a quarter percent in November 2024) have led to strong stock market performance in 2024. The icing on the cake for 2024 returns was Donald Trump's victory in the U.S. Presidential Election in early November, sending major indices to all-time highs in the week following the election. Still, debates around the health of the economy and the impact of potential tariffs and corporate tax cuts remain, leaving much uncertainty around 2025. Want to invest in winners with rock-solid fundamentals? Check out our Top 5 Quality Compounder Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate. StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here.
Reuters
2 days ago
- Automotive
- Reuters
India's Tata Technologies posts smaller-than-expected quarterly revenue drop on deal wins
July 14 (Reuters) - India's Tata Technologies ( opens new tab reported a smaller-than-expected revenue decline for the first quarter on Monday, as strong deal wins and execution of contracts helped it in a challenging macroeconomic environment. The firm, which provides engineering and technology services to automobile, aero and heavy machinery makers, is optimistic about a sequential recovery in the second quarter and a stronger second half of fiscal year 2026, it said in a statement. The company won six "strategic deals" during the quarter, including a partnership with Volvo Cars for product engineering and embedded software, and an engagement with an unnamed European luxury automaker for multi-domain technical services. Its consolidated revenue dipped 1.9% year on year to 12.44 billion rupees ($144.69 million) in the April-June quarter. Analysts, on average, had expected a revenue of 12.04 billion rupees, as per data compiled by LSEG. The engineering, research and development segment of India's IT industry, which relies heavily on outsourced work from U.S. and European clients, is seeing a broad slowdown as the global auto sector has been beset by concerns over U.S. tariffs, weak growth in China, sluggish EV adoption, and China's export curbs on rare earths. "We achieved strong cash flow performance this quarter through consistent execution and disciplined working capital management, despite operating in a challenging environment," Tata Technologies CFO Savitha Balachandran said in a release. Revenue from the firm's services segment, which is 77% of the overall pie, dropped 2.2%, while technology solutions' revenue dipped 1%. Its profit rose 5% to 1.7 billion rupees, above analysts' expectations of 1.52 billion rupees, helped by a higher other income. Peer Tata Elxsi ( opens new tab missed quarterly earnings estimates last week, hurt by slowing research and development spend by customers across geographies. ($1 = 85.9790 Indian rupees)
