Toyota on Thursday raised its earnings forecast and said it would return to profit this financial year despite fears over the mounting costs of a massive recall and lost sales due to its damaged reputation.The beleaguered carmaker said after the bell that it would make a net profit of Y80bn ($880m) for the year to March 31, compared with its November forecast of Y200bn in net loss.It had suffered
Toyota’s share price climbed 4.5 per cent on Tuesday after the Japanese carmaker outlined steps to fix potentially sticky accelerator pedals in millions of recalled vehicles.Shares in the company had fallen by 15 per cent since the defect problem worsened two weeks ago.It has now grown to involve a vast recall in the US and Europe and a sales freeze on some of Toyota’s most popular models, includ
Irish builder Abbey was among the top gainers on Friday, bucking a wider downward trend that continued into a second day. Ireland’s biggest housebuilder rose 7.5 per cent to €4.73 after the group reported a better than expected pre-tax profit of €3.
Carl-Peter Forster, the head of General Motors in Europe, is poised to leave the company, it emerged on Friday, just days after the US carmaker decided to hold on to its Opel/Vauxhall operations. Revamping GMInteractive graphic: Key events that have
Fiat, the Italian carmaker, jumped on Thursday after it was reported the dealer would be introudcing the first all-new Chrystler model by the end of 2011 in addition to a new Ram brand for trucks. Meanwhile, Morgan Stanley raised the Italian carmake
LONDON - Business Secretary Peter Mandelson said Thursday he was upbeat about the future for Vauxhall's workforce despite the firm being sold to a Canadian auto components group Magna. US auto giant General Motors has agreed to sell its European un
STOCKHOLM - Swedish sports car maker Koenigsegg has teamed up with Beijing Automotive Industry Holding Co Ltd to buy Saab from its US parent company General Motors, Koenigsegg said Wednesday. Koenigsegg Group said BAIC, China's fifth-largest autom
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