BMW says profits beat expectations in first quarter

German luxury carmaker BMW on Thursday reported first-quarter pre-tax profits that were sharply higher than expected, largely thanks to one-off financial effects. Profits before tax increased by 27 percent to 3.0 billion euros ($3.2 billion) in the period from January to March, compared with the same period a year earlier, the Munich-based group said in […]


Renault-Nissan sales close to 10 million in 2016

Renault-Nissan said Wednesday it sold nearly 10 million vehicles worldwide as the group faces up to accusations that Renault participated in an emissions scandal. Renault-Nissan, which has aspirations to become one of the world’s top three carmakers behind Volkswagen and Toyota, said in statement that unit sales jumped by nearly 17 percent to 9.96 million […]

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Volvo predicts record sales in 2017

Swedish carmaker Volvo, owned by Chinese group Geely, predicts a bright future after reporting a healthy profit rise in 2016 thanks to record sales and stronger finances. Net profit soared by 90 percent to 5.94 billion kronor ($628 million) while sales climbed by ten percent to 164.04 billion kronor, Volvo Cars said in a statement. […]


Record year for Ferrari as brand turns 70

Italian luxury carmaker Ferrari said last week it had achieved record profits in 2016, bolstered by strong demand for its supercharged 488 sports cars, a fillip to the “prancing horse” firm as it prepares to turn 70. The company announced better than expected net profits soared 38 percent to 400 million euros ($430 million), 110 […]

Metropolia and Beijing Asia Stars Electronic Technology Corporation (AET) join forces in EV development

Metropolia University of Applied Sciences and the Chinese vehicle manufacturer Beijing Asia Stars Electronic Technology Corporation (AET) have launched a joint development project of electric vehicles. The project agreement was signed in September. A new type of electric vehicle prototype is designed and implemented in the project. Metropolia and AET signed a strategic cooperation agreement […]