Auto Sector

Volvo to Build its New Plant in South Carolina

Volvo to Build its New Plant in South CarolinaThe much speculated location for the new plant that Volvo Cars plan to construct in the U. S has finally been announced. On Monday, a announcement said that the company has selected South Carolina's Berkeley County for its plant in North America. It will be the first auto plant of the company in the continent. The company says that it will add 2000 workers in the plant over the next ten years and 4000 by the year 2030.

Hyundai-Kia Forecast Slowest Sales Growth Globally in Last Nine Years

Hyundai-Kia Forecast Slowest Sales Growth Globally in Last Nine YearsWeak market recovery, intensified competition and a capacity constrain has lead Hyundai Motor Co and affiliate Kia Motors Corp to aim for increasing its target of vehicle sales globally in 2015 by 2.5 percent. The South Korean companies have seen slowest rate of expansion in the last nine years.

GM Gets an Investment Grade Rating from S&P

GM Gets an Investment Grade Rating from S&PThe time seems to be good for General Motors (GM) as it survived through a bankruptcy followed by a major recall this year of 29 million or more vehicles. After almost a decade Standard & Poor's has elevated the credit status of the car manufacturer from junk up by a notch.

Japanese Auto-Part Makers Fined $202 Million in China

Japanese Auto-Part Makers Fined $202 Million in ChinaOn Wednesday, National Development Reform Commission, the anti-monopoly regulator of China said that it has ordered twelve manufacturers of bearing and auto parts to pay fines which amounts to a total of 1.24 billion yuan or $201.80 million for manipulation of prices and all of them are Japanese in origin.

Tesla Increases Warranty of Model S to 8-Years a Factor That Will Cut Down Company Profit

Tesla Increases Warranty of Model S to 8-Years a Factor That Will Cut Down Company ProfitTesla Motors Inc. is increasing the period of warranty for its Model S electric sedan and is offering unlimited mileage for the vehicle and battery pack and is increasing it to eight years to relieve concerns of reliability. This move will have negative effects on the company's profit.

Sales Figures for New cars and Truck Move Up

Sales Figures for New cars and Truck Move UpIn July, Hamilton City saw the number of sale for new car and truck move up for the third straight month when compared to the records of the previous year.

The figures for vehicles that were sold last month in the county grew by almost 8.5 percent than it was a year ago, keeping pace with the growth seen in sales all over the nation.

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