Daimler AG Makes Cuts, Changes Among Top Executives

Daimler AG Makes Cuts, Changes Among Top Executives

Daimler AG CEO Ola Källenius didn’t wait long to implement his newest plan to use further headcount reductions to help bring the German company’s profitability back up to expected levels — and he’s starting at the top. Källenius, who also instituted staff cuts when he...
First Drive: 2020 Ford F-Series Super Duty

First Drive: 2020 Ford F-Series Super Duty

Every year, Ford sells hundreds of thousands of F-Series Super Duty pickups to people like contractors, farmers, etc. who not only buy them because they can pull a small house up a hill, but more so lately because they like how they look. They’ve come to depend upon...
Rising Diesel Costs Help Cut Daimler Profits in Half

Rising Diesel Costs Help Cut Daimler Profits in Half

Daimler AG continues to deny cheating on emission tests despite the fact that the costs associated with its defense grows as the company’s operating income weakens. Daimler said Wednesday that it will set aside between 1.1 billion euros ($1.2 billion) and 1.5 billion...
Volvo Cars Issues $519M in Preference Shares

Volvo Cars Issues $519M in Preference Shares

Volvo Cars issues $519 million worth of convertible preference shares, or preferred stock, to replace a similar sized issue that was maturing, to a group of institutional investors. The group of Swedish institutional investors included Swedish pension fund AMF and...
GM Set to Expand Production of Diesel Engines

GM Set to Expand Production of Diesel Engines

General Motors and partner Isuzu plan to spend $175 million and create 100 new manufacturing jobs at a new joint-venture plant in Brookville, Ohio, to build components for DMAX diesel engines that in demand in GM’s new 2020 Chevrolet Silverado and GMC Sierra. GM said...
Daimler Plans Major Job Cuts to Offset Coming Expenses

Daimler Plans Major Job Cuts to Offset Coming Expenses

Daimler AG, parent company of Mercedes-Benz, plans to eliminate 10,000 jobs during the next three years as the company restructures to prepare for an electric future and a smaller earnings. The cuts and the restructuring have taken on new urgency as Daimler has been...
FCA, PSA Set to Sign Binding Merger Agreement

FCA, PSA Set to Sign Binding Merger Agreement

Fiat Chrysler and PSA Peugeot Citroen plan to sign a binding merger agreement in the coming weeks, according to communications each company sent to its employees. The move would lock down the deal the two carmakers reached last month and further downplays concerns...