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...The company had shifted strategy within the past decade to focus more heavily on used vehicles, after an increasing number of carmakers opted not to work with the business....
...Austrian energy drinks company Red Bull, which owns the team, did not immediately respond to a request for comment....
...General Motors shares were up 4.4 per cent in pre-market trading in New York....
...They include vehicles manufactured for Toyota, Mazda and Subaru. Toyota has been betting on south-east Asia, which it hopes will propel growth....
...Honda is falling further behind in the battery EV race after scrapping a $5bn plan to develop affordable battery-powered cars with General Motors last year....
...One of the main points of the current structure, and why companies like Mazda, Suzuki and Subaru joined the Toyota family, was to provide protection as the pressure of investment in electric vehicles mounted...
...Daihatsu said it was not aware of any accidents caused by the safety issues, which also affected models supplied to Mazda and Subaru....
...In India, Tata Motors shares rose as much as 7.9 per cent in early trading after the group announced it would be split into two listed companies....
...The union wrested big pay rises and other benefits from Ford, General Motors and Stellantis earlier this month after a six-week strike against the companies....
...However, it warned that many companies were “struggling to promptly provide the data we need” and said it would extend its review if it did not receive “comprehensive data promptly from a range of firms”...
...Corporate results: Japanese companies reporting second-quarter earnings include Daikin, Mazda Motor, Mitsubishi UFJ Financial Group, Nintendo, Nippon Telegraph and Telephone, Sony and Suzuki Motor....
...Nissan chief executive Makoto Uchida is blunt on the need for new partners, although the company insists its alliance with Renault and Mitsubishi Motors will not be unwound....
...Tata Motors’ stock has more than doubled over the past year, far outpacing the Indian market — quite a feat for a company with a market value of more than $40bn....
...Hyundai Motors share price rose after announcing its fourth quarter results on Thursday, despite missing operating profit estimates....
...“The rapid evolution of digitalisation in recent years has led to diverse companies, from tech to entertainment, venturing into the auto industry and coming up with various services and products,” Mazda...
...Car owners have been squeezed by a surge in insurance prices since their pandemic lows, as companies try to reflect a surge in claims costs....
...The UK’s top financial regulator has launched an investigation into historical commission agreements at motor finance companies after finding that companies were rejecting “most” of the “high number” of...
...However, carmakers are huge global companies with revenues often in the hundreds of billions of pounds....
...But each of the company’s past two pay increases topped $2 an hour....
...Any lenders funding motor finance should worry about how this problem could mushroom....
...The alliance also includes smaller partner Mitsubishi Motors....
...The company has responded to the pessimism, recently announcing a new midterm plan to boost sales and launch 30 new models, half of which will be electrified or hybrid....
...While many of its large holdings are decades old, it has recently built small stakes in smaller rivals Suzuki, Mazda and Subaru as they have sought capital ties with the country’s biggest automaker to survive...
...Separately on Friday, Masahiro Moro, the newly appointed chief executive of Mazda, said the company was likely to struggle with boosting profits in China this year, despite its aggressive target to grow...
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