Bloomberg News

GM has tentative deal with UAW, though strike may continue

General Motors Co. and the United Auto Workers have reached a tentative agreement on a new contract, and the union will decide Thursday whether to continue a more than month-long strike while the deal is voted on by members. The accord, announced by the UAW on Wednesday, may bring an end to the union’s first national walkout against […]

• Bloomberg News
• October 16, 2019
• Bloomberg, Risk Management

Renault board votes to replace CEO Thierry Bollore

Renault SA named Clotilde Delbos interim chief executive officer after ousting CEO Thierry Bollore, as the French carmaker works to repair its partnership with Nissan Motor Co. Delbos, currently chief financial officer, will take over immediately from Bollore, making her one of the highest-ranking women in the auto industry. Renault’s board will begin a search […]

• Bloomberg News
• October 11, 2019
• Bloomberg, People

Nissan picks new CEO to lead recovery from Ghosn scandal

Nissan Motor Co. named the head of its China joint venture as chief executive officer, as the struggling Japanese carmaker seeks to heal deep divisions caused by the arrest of its former chairman and repair fraught relations with partner Renault SA. Makoto Uchida, 53, will work alongside Ashwani Gupta from affiliate Mitsubishi Motors Corp., who […]

• Bloomberg News
• October 8, 2019
• Bloomberg, People

GM and Ford can’t shake anguish over where US sales are headed

General Motors Co. posted a quarterly sales gain, and Ford Motor Co. sales fell less than expected. But both are having trouble shrugging off concerns that the U.S. auto market is taking a turn for the worse. Shares of the two companies fell Wednesday along with those of Italian-American manufacturer Fiat Chrysler Automobiles NV. Their […]

• Bloomberg News
• October 2, 2019
• Bloomberg, Sales & Marketing

Grim start to US auto sales stirs alarm that collapse is here

U.S. auto sales took a big step back in September, setting the stage for hefty incentive spending by carmakers struggling to clear old models from dealers’ inventory. Results were disastrous for leading Asian automakers Toyota Motor Corp. and Honda Motor Co., which both suffered double-digit declines that were worse than analysts anticipated. While a fuller […]

• Bloomberg News
• October 1, 2019
• Bloomberg, Sales & Marketing

Wells Fargo names BNY Mellon’s Scharf as CEO to lead turnaround

Wells Fargo & Co. named Charles Scharf chief executive officer, marking a new era in the bank’s efforts to turn itself around after a series of scandals claimed two previous CEOs in the past three years. Scharf, the CEO of Bank of New York Mellon Corp., will take over on Oct. 21, replacing interim chief […]

• Bloomberg News
• September 27, 2019
• Bloomberg, People

Europe renews pledge to retaliate against any Trump car tariffs

The European Union’s trade chief reiterated a pledge to impose retaliatory tariffs against the U.S. should President Donald Trump follow through on a threat to hit the bloc’s automotive goods with duties. European Trade Commissioner Cecilia Malmstrom criticized Trump’s assertion in May that EU cars and auto parts shipped to the American market pose a […]

• Bloomberg News
• September 20, 2019
• Bloomberg, Sales & Marketing

Nissan seeks sale of trading unit in $1b deal

Nissan Motor Co. is seeking to sell a wholly owned subsidiary that distributes vehicle parts and materials in a deal that may be valued at about $1 billion, as the struggling Japanese automaker seeks to slim down, people familiar with the matter said. The company has invited private equity and trading firms to bid for […]

• Bloomberg News
• September 18, 2019
• Bloomberg, Sales & Marketing