McLaren Sees Q1 Loss Balloon to $164.3M Due to Pandemic

McLaren Sees Q1 Loss Balloon to $164.3M Due to Pandemic

Super car maker McLaren Group is the latest automaker to highlight how hard the global pandemic has been on the industry, reporting its pre-tax loss in the first quarter jumped to 133 million pounds, or $164.3 million, from just 18 million pounds, or $22.2 million,...
Stocks Surge as Renault-Nissan Move to Save Alliance

Stocks Surge as Renault-Nissan Move to Save Alliance

After months of decline, shares of the three automakers forming the Renault-Nissan-Mitsubishi Alliance surged sharply on global exchanges Wednesday. Shareholders signaled their satisfaction with plans to save the long-running partnership that had been teetering on...
British Super Car Maker McLaren Cuts 1,200 Jobs

British Super Car Maker McLaren Cuts 1,200 Jobs

McLaren Group, the British maker of super cars and a top Formula One racing team, announced it’s cutting 1,200 jobs across all of its businesses, including the racing team. As has been the case with so many other companies, McLaren’s been hit hard financially due to...
Nissan Delays Restart of U.S. Operations

Nissan Delays Restart of U.S. Operations

Nissan has decided to delay the restart of the bulk of its manufacturing operations in the United States, while the company’s top executives in Japan continue to revise the company’s strategy. “We’ve extended downtime at our manufacturing facilities for further...