Tag

Autos

All articles tagged with #autos

business1 year ago

Huawei's 2023 Profit Doubles Amid Strong Earnings Growth

Huawei's net profit for 2023 more than doubled, with revenue growing by 9.6% to 704.2 billion yuan, and net profit increasing by 114.5% to 87 billion yuan. The company's smartphone business made a comeback with the release of the Mate 60 Pro in China, boosting sales and market share. Revenue from the intelligent automobile solutions business grew by 128.1%, while the consumer business saw a 17.3% increase in revenue. ICT remained Huawei's biggest revenue driver, with cloud revenue growing by nearly 22%.

autos2 years ago

Cruise's Driverless Robotaxi Operations Halted Nationwide

Cruise has suspended operations of its driverless cars nationwide after the California Department of Motor Vehicles (DMV) suspended their deployment in San Francisco, stating that the vehicles were "not safe for the public's operation" and that the manufacturer had "misrepresented" safety information. Cruise stated that the suspension is not related to any new incidents and that they are taking time to examine their processes and rebuild public trust. The DMV's suspension followed an investigation into a collision involving a Cruise vehicle in San Francisco on October 2. Cruise will continue supervised autonomous vehicle operations.

business2 years ago

European Markets Open Lower as Investors Analyze Earnings and Auto Stocks Underperform

European stock markets opened lower as investors continued to digest corporate earnings, with mining shares down 1.1% and autos falling 3%. Banks and insurance were the only sectors to rise. The autos decline follows Tesla's results, which showed a fall in net income, and the company's Tuesday announcement of further price cuts. Falls came despite solid earnings from carmakers Renault and Volvo. Morgan Stanley posted better-than-expected results, but its shares fell by 2% in early trading.

autos2 years ago

Ford Recalls Over 1 Million Vehicles for Brake Issues

Ford has recalled 1.5 million vehicles due to problems with windshield wipers and brake fluid leaks, highlighting the company's sloppy work and poor quality. The recalls come after Ford's recent component problems with its F-150 Lightning, earnings disappointments, and trouble pricing its vehicles. Despite these issues, CEO Bill Farley remains in his position, raising concerns about the company's future.