News

Impact on sourcing due to mass exodus of companies from China, Auto News, ET Auto

By Abhishek Agrawal

What is prompting providers to change manufacturing from China?

In excess of the earlier two many years, China has served as the manufacturing hub for providers in several industries globally. Even so, trade war with the US, expanding price of labor, lack of manpower and the latest COVID–19 pandemic may make it hard for China to retain its posture as the epicenter of producing.

Critical Drivers for the Change

Since early 2019, producing providers around the globe have been searching to reduce their source chain dependence on China. The outbreak of the pandemic has intensified the quest

Read More

Jaguar Land Rover raises $705 million loan from Chinese banks, Auto News, ET Auto

The loan facility &quotcan help JLR China better manage cash flow amid the coronavirus epidemic&quot, Yu told reporters on Friday.
The personal loan facility “can assist JLR China far better control hard cash stream amid the coronavirus epidemic”, Yu told reporters on Friday.

SHANGHAI: Jaguar Land Rover (JLR), owned by India’s Tata Motors, has entered into agreements with loan providers in China for a secured expression personal loan facility of five billion yuan ($704.fifty million), marking its to start with personal debt financing in China, it said.

Arthur Yu, JLR’s vice president and China chief money officer, said the Chinese financial institutions that would deliver it with the a few-12 months revolving personal loan include Financial institution of China, ICBC,

Read More

Kia Motors and MG Motor India consolidate leadership position in SUVs amid slowdown, Auto News, ET Auto

The Seltos had ended 2019 with a market share of 19 percent, despite commencing sales only in August.
The Seltos experienced finished 2019 with a industry share of 19 percent, in spite of commencing profits only in August.

NEW DELHI: Kia Motors and MG Motor have consolidated their leadership positions in two essential SUV segments with the Seltos and Hector, even as India’s automobile business is passing by way of its most challenging situations.

The Kia Seltos held a fifty eight% share of the mid-dimensions SUV industry in the to start with five months of 2020. The MG Hector as well accounted for far more than fifty percent the total profits the premium SUV area. Both providers are

Read More

Nissan Announces Four-Year Turnaround Plan | Car News

It’s been very well recognised for some time that Nissan’s economic condition is precarious. Even ahead of the pandemic, the automaker was having difficulties as a final result of dropping gross sales, an growing older lineup and the fiasco surrounding the ouster of former president Carlos Ghosn.

Then came the coronavirus, which strike all producers tricky. Nissan suffered doubly. In 2019, gross sales had currently fallen by 8.4% in comparison to 2018 the business sold 5,176,189 units globally in 2019. As the pandemic strike entire velocity this March, gross sales collapsed, by all-around 80%.

The automaker noted an working decline

Read More

Tom Brady’s Cadillac Escalade could be yours for $300,000 | Car News

Perfectly-heeled buyers have a prospect to get Tom Brady’s customized 2018 Cadillac Escalade.

By typical accord, Tom Brady is a person of the finest quarterbacks in the heritage of American soccer. A genuine living legend, he is however energetic at forty three yrs of age. For all lovers of the star player, a exclusive option has arisen:  his personalised 2018 Cadillac Escalade ESV is available to the highest bidder.

As you can see from the photos, the automobile has undergone some modifications. In point, it has been lengthened by 20 inches, and the rear doors are lengthier by ten

Read More