Latest news with #motorvehicles
Reuters
a day ago
- Automotive
- Reuters
Vespa maker Piaggio's profit falls 42% in first half of 2025
July 29 (Reuters) - Italy's Piaggio ( opens new tab said on Tuesday its net profit fell 42.2% to 30.1 million euros ($34.84 million) in the first half of 2025 in a contracting market for motor vehicles. Piaggio, known for its iconic Vespa scooters, sold 238,400 vehicles between January and June this year, compared to 270,100 in the first half of 2024. "In historical moments like these, with international trade disputes and increased geopolitical tensions, being able to remain flexible, controlling liquidity and financial management, is essential," CEO Michele Colaninno said in a statement. The manufacturer said its earnings before interest, taxes, depreciation and amortization (EBITDA) fell 15.3% year-on-year to 147.1 million euros, with an EBITDA margin of 17.3%. The group also pledged to distribute an interim dividend of 4 euro cents per share on its 2025 results. ($1 = 0.8639 euros)
Yahoo
6 days ago
- Business
- Yahoo
Canada's retail sector suffers May pullback amid auto weakness, trade strains
-- Canadian retail activity pulled back in May, with sales falling 1.1% to $69.2 billion, according to new data released by Statistics Canada. The decline followed a 0.3% gain in April and was driven by weak performance among motor vehicle and parts dealers, as well as ongoing trade-related pressures. Volume-adjusted sales, which strip out the effects of inflation, shrank by 1.4% in May after climbing 0.5% the month prior. Core retail sales, which exclude motor vehicle and parts dealers and gas stations, were mostly unchanged, after edging up 0.1% in April, suggesting a deceleration in consumer momentum. Motor vehicle and parts dealers recorded the steepest decline among major categories, tumbling 3.6% in May, following strong gains in both March and April. The subsector's downturn was led by a 4.6% drop in sales from new car dealers, marking their first monthly decrease since February, while auto parts and tire retailers rose 1.7%. Gasoline station and fuel vendor sales fell 1.4% in value and 2.1% in volume, continuing a three-month slide. Meanwhile, core retail subsectors posted a mixed performance, with building material and garden supply stores gaining 1.9% and health and personal care retailers up 0.7%, though food and beverage stores fell 1.2%, weighed down by a 2.9% drop at liquor outlets. The retail sector also continued to feel the strain of heightened trade tensions between Canada and the United States, with 32% of businesses surveyed in May reporting noticeable impacts, down from 36% in April, but still significant. According to Statistics Canada, the most common effects cited by respondents included higher input costs, shifting product demand, and increases in shipping and labor expenses. Regionally, retail sales declined in nine provinces, with Ontario posting the largest fall at 2.1%, led by weak auto sales. Nova Scotia was the only province to see a gain, up 0.3%, bolstered by stronger demand at building supply and garden equipment retailers. E-commerce mirrored the broader pullback, as online retail sales declined 1.7% to $4.3 billion in May, making up 6.2% of total retail trade, compared to 6.3% in April. In April, the sector had fared better, with overall retail sales rising 0.3% and growth reported in six out of nine subsectors. While official figures for June are not yet available, Statistics Canada's advance estimate suggests a rebound in the making, with a preliminary uptick of 1.6% projected. The agency noted, however, that this estimate is based on just over half of survey responses and will be revised as more comprehensive data becomes available. Related articles Canada's retail sector suffers May pullback amid auto weakness, trade strains Victoria's Secret Exposed: The Warning Sign Behind the Stock's 52% Collapse These Under-the-Radar Stocks Offer Better Risk-Reward Ratio Than Nvidia
CNA
30-06-2025
- Business
- CNA
Japan factory output rises, but slower than expected as US tariffs threat looms
TOKYO: Japanese factory output rose at a slower-than-expected pace in May, government data showed on Monday (Jun 30), as sweeping US tariffs were threatening to derail the country's already fragile economic recovery. Industrial output rose 0.5 per cent in May from the previous month, data from the Ministry of Economy, Trade and Industry (METI) showed, less than a median market forecast for a 3.5 per cent rise. Manufacturers surveyed by METI expect seasonally adjusted output to rise 0.3 per cent in June and fall 0.7 per cent in July. "It's necessary to pay close attention to the worsening trend in sentiment (among manufacturers on) production planning," a METI official said. Tokyo is scrambling to find ways to get Washington to exempt its automakers from automobile industry-specific tariffs of 25 per cent, which are severely impacting the country's manufacturing sector. Japan also faces a 24 per cent "reciprocal" tariff rate starting on Jul 9 unless it can negotiate a deal with Washington. Motor vehicle production went up by 2.5 per cent and shipments jumped 10.5 per cent in May from a month prior, the data showed. Some manufacturers had moved up their shipments because of the tariffs, the METI official said. The number of firms mentioning that the tariffs had an impact on their production or shipment increased slightly from April, the official said. "Exports are likely to remain sluggish and production indices are expected to continue show weakness in response to the global economic slowdown," said Yutaro Suzuki, an economist at Daiwa Securities. The hit from US tariffs could derail a lacklustre recovery in Japan's economy, the world's fourth largest. The economy shrank in January to March, the first contraction in a year, due to subdued private consumption. The US tariffs also complicate the Bank of Japan's efforts to raise still-low interest rates and reduce a balance sheet that has ballooned to roughly the size of Japan's economy. "The poor run of data will keep the central bank on hold for the time being," said Stefan Angrick, head of Japan and Frontier markets Economics at Moody's Analytics. "Until there's progress on US-Japan trade, Japan's manufacturers will remain in the doldrums, with few clear sources of support."
Yahoo
20-06-2025
- Automotive
- Yahoo
Statistics Canada reports April retail sales up 0.3 per cent at $70.1 billion
OTTAWA — Statistics Canada says retail sales rose 0.3 per cent to $70.1 billion in April, helped by gains in sales at new and used car dealers. However, the agency says its preliminary figures for May point to a drop of 1.1 per cent for that month. For April, six of nine subsectors were up as sales at motor vehicle and parts dealers gained 1.9 per cent, boosted by a 2.9 per cent increase at new car dealer and a 2.1 per cent rise at used car dealers. Sales at sporting goods, hobby, musical instrument, book, and miscellaneous retailers rose 1.0 per cent, while furniture, home furnishings, electronics and appliances retailers gained 0.8 per cent. Sales at clothing, clothing accessories, shoes, jewelry, luggage and leather goods retailers fell 2.2 per cent. Core retail sales, which exclude gasoline stations and fuel vendors and motor vehicle and parts dealers, gained 0.1 per cent in April. In volume terms, overall retail sales rose 0.5 per cent in April. This report by The Canadian Press was first published June 20, 2025. The Canadian Press Sign in to access your portfolio
CTV News
17-06-2025
- Automotive
- CTV News
Sudbury police close Lasalle extension after three-vehicle crash
A surge in serious collisions on northern highways this week all involved commercial motor vehicles – and three involved large transport trucks. Loading the player instance is taking more time than usual Loading the player instance is taking more time than usual Two drivers have been taken to hospital with serious injuries following a three-vehicle crash on the Lasalle extension in Greater Sudbury on Tuesday morning. Police have closed the road between Frood Road and Elm Street with no estimated reopening time. Motorists are asked to find an alternative route. The police traffic management unit is on scene investigating. There is no word yet on the cause or if any charges are pending.
