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Manufacturing

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General Motors Co is expected to announce on Tuesday significant investments to expand production of electric vehicles at a factory in Spring Hill, Tennessee and potentially other sites.

GM said in a statement Monday that it planned to make a “major U.S. manufacturing investment announcement” on Tuesday. The Detroit News reported that the automaker planned to begin building the Cadillac Lyriq electric SUV at its Spring Hill, Tenn. plant. AutoForecast Solutions, which tracks industry production plans, said it expects the Lyriq to go into production in late 2022.


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BMW on Monday said rebounding markets helped the German carmaker to deliver higher-than-expected free cash flow in the automotive segment during the third quarter.

Free cash flow amounted to 3.07 billon euros ($3.61 billion) in the third quarter, up from 714 million euros ($840.16 million) in the year-earlier period, the carmaker said late on Monday.

“This was due in particular to a faster recovery in several markets, which led to higher sales growth.”


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By Noel Randewich

(Reuters) - Shares of gun makers have been gaining ground as Democratic candidate Joe Biden leads polls, and if he wins the presidential election in November there are expectations of a renewed surge in gun sales that could drive shares even higher.

Shares of Smith & Wesson Brands and Sturm Ruger have both rallied around 8% since late September, mirroring Biden’s widening lead in the polls since his debate against President Donald Trump. The S&P 500 is ...


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By Yilei Sun and Brenda Goh

BEIJING (Reuters) - General Motors Co (GM) on Monday said continued market recovery from the COVID-19 crisis helped its China vehicle sales grow 12% on year in July-September, marking the Detroit automaker's first Chinese quarterly sales growth in two years.

The second-biggest foreign automaker in China by units - after Germany's Volkswagen AG - said on Monday it delivered 771,400 vehicles in China in the third quarter. That followed a 5% fall in the se...


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Markus Duesmann, Audi's Chairman of the Board of Management, expects lower sales in 2020 despite strong numbers in the months of July, August and September, according to the industry newspaper Automobilwoche on Sunday.

“We will not be able to compensate worldwide the heavy losses of the months of April and May in the full year, despite our distributors doing a really good job,” Duesmann said.

September had been the best month of the year across gl...


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Daimler said on Tuesday it will cut fixed costs, capex and research and development expenditure by more than 20% by 2025 compared with 2019 levels as part of a strategy overhaul to reposition Mercedes-Benz more upmarket as a luxury brand.

The company’s ambition is to achieve a double-digit return on sales margin by doubling sales of Maybach branded cars, and ramping up sales of AMG and G-Wagon derivatives of the Mercedes brand, Daimler said.

“We will pursue higher portfolio profitability, we will steer by contribution margin, we will move (the) existing portfolio margin up and move capital to luxury and high-end products,” Chief Financial Officer Harald Wilhem said in a virtual presentation of the company’s strategy.


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Tesla Inc on Friday said it delivered 139,300 vehicles in the third quarter, a quarterly record for the electric carmaker, but shares fell 4.8% in pre-market trading.

The company slightly beat consensus estimates by Refinitiv for deliveries of 134,720 vehicles, but fell short of some of Wall Street’s most bullish forecasts, with analysts issuing a wide range of estimates.

While the broader market was down on Friday m...


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Major U.S. automakers continued to show signs of a recovery from the COVID-19 pandemic on Thursday as better-than-expected demand for new vehicles despite tight inventories at dealers helped boost third-quarter sales.

Despite posting lower quarterly sales, automakers said the recovery has been robust helped by strong demand for high-profit sports utility vehicles and pickup trucks.

However, rising COVID-19 cases in the United States have increase...


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Ford Motor Co's new chief executive, Jim Farley, on Thursday promised the U.S. automaker would move with urgency, responding to investor and analyst criticism of the speed at which his predecessor acted.

Farley, on his first day as Ford’s 11th CEO, also announced an executive shake-up that included naming a new chief financial officer.

Ford’s promise to accelerate its turnaround is not new at a time when it is executing an $11 billion restructuring.


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Local union leadership in Canada across all Ford Motor Co locals in both trades and production approved the tentative deal reached between Unifor and the company, the union said here on Sunday.

Ford will invest C$1.95 billion (US$1.46 billion) in its Oakville and Windsor plants in Canada as part of a tentative deal with Canadian autoworkers was announced last week.

The federal government, along with the Ontario government, is willing to invest in turning the Oakville plant over to the production of electric vehicles...