Subscribe free to our newsletters via your
. Space Industry and Business News .




CAR TECH
Toyota says factory lines in Tianjin shut until weekend
by Staff Writers
Tokyo (AFP) Aug 19, 2015


Volvo Cars sees profits, China sales drop in first half
Stockholm (AFP) Aug 19, 2015 - Swedish automaker Volvo Cars, owned by China's Geely, reported Wednesday a drop in first half profits as sales tumbled in its biggest market, China.

Net profit plunged by 60 percent to 173 million kronor (18.3 million euros, $20 million), while turnover climbed by 12 percent to 75.2 billion kronor.

Operating profit surged by more than 70 percent to 1.66 billion kronor, thanks to a strong US currency and robust sales of Volvo's SUV model XC60.

Volvo's overall car sales in terms of units rose by 1.4 percent to 232,284 during the first half.

The strongest sales growth was registered in Sweden and western Europe, while remaining stable in the United States and declining in China and the rest of the world, including Russia.

Volvo went through several dark years before returning to profit in 2013. In 2014, it beat its sales record from 2007, selling almost 466,000 vehicles. CEO Hakan Samuelsson told Swedish news agency TT the company expects to sell 500,000 cars this year.

The number of Volvo employees has risen by 10 percent in the past year, to 28,000 worldwide.

Despite its economic slowdown, Volvo plans to boost its presence in China and has acquired 50 percent of three joint ventures from parent company Geely: two assembly plants and one research and development centre.

Geely paid $1.8 billion to buy Volvo from US carmaker Ford in 2010.

Toyota on Wednesday said at least 67 employees were injured after giant explosions last week in the Chinese city of Tianjin, where the carmaker's factory lines will remain closed for the next few days.

Production at Toyota's Tianjin subsidiary -- including a factory line 70 kilometres (44 miles) away that depends on parts from the main operation -- has been halted since the blasts.

"We last confirmed that over 50 employees who live in the surrounding area, including in company accommodation, have been injured," a company spokesman said in Tokyo.

"The updated number is 67," the spokesman said.

"Since we have been unable to confirm the safety of the area in the vicinity of the blast, we have decided to keep production offline from August 20 through August 22," he added.

Toyota's operations had been shut for a week's summer holiday when the explosions occurred, with production due to restart Sunday, so there was no immediate impact on production from the disaster.

The main Tianjin factory, which produces several models including the Corolla and Vios sedan, has about 12,000 employees and manufactured 440,000 vehicles last year.

The deadly blasts also damaged a pair of Toyota dealerships that required them to temporarily close, while some other Japanese firms including Panasonic and carmaker Mazda reported minor damage at their operations in Tianjin.

bur-si/kb

Toyota

Panasonic

Mazda


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


.


Related Links
Car Technology at SpaceMart.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle








CAR TECH
Taxi-booking app GrabTaxi raises $350 million in fresh funding
Singapore (AFP) Aug 19, 2015
Southeast Asian taxi-booking app GrabTaxi Holdings Pte Ltd said Wednesday it had raised more than $350 million in the firm's biggest ever fundraising to boost its business in the rapidly growing market. Singapore-headquartered GrabTaxi, which competes with the likes of Uber, said in a statement the funds came from investors that included China's sovereign wealth fund China Investment Corpora ... read more


CAR TECH
The unbearable lightness of helium may not be such a problem after all

Programming and prejudice

Laser-burned graphene gains metallic powers

Small, cheap femtosecond laser for industry available

CAR TECH
Harris delivers Falcon tactical radios

DLS providing equipment for networked communications

Army funds testing of upgrade to communications system

General Dynamics delivering more digital modular radios to Navy

CAR TECH
Arianespace integrates EUTELSAT 8 West B and Intelsat 34 for Ariane 5 launch

EUTELSAT 8 West B and Intelsat 34 set for Ariane 5 launch

NASA rocket launches UH's scientific payload into space

NASA selects contractor to prepare launch structure for SLS

CAR TECH
Russia may offer Glonass-based navigation system for light aircraft

Antenova announces embedded GNSS antenna for accurate positioning

Surfing for science

Russia develops national high-end navigation system

CAR TECH
Cathay Pacific 1H profit up nearly sixfold, misses estimates

Israeli F-16s to carry small diameter bombs

Airbus DS supplying radar systems to Australia

Russia's MiG-21 Would Rip Apart America's F-35

CAR TECH
'Quantum dot' technology may help light the future

A thin ribbon of flexible electronics can monitor health, infrastructure

Danish breakthrough brings futuristic electronics a step nearer

Discovery may boost memory technology

CAR TECH
Putting NASA Earth Data to Work

Sentinels catch river traffic jam

China to launch Jilin-1 satellite in October

Dartmouth-NASA collaboration reveals new X-ray actions

CAR TECH
Better dsinfecting of spinach, salad greens would reduce illness

Rain in China blast city raises pollution fears

Brazil court orders suspension of activity at Amazonian mine

Amazon slowly eaten away by gold rush's illegal mines




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement All images and articles appearing on Space Media Network have been edited or digitally altered in some way. Any requests to remove copyright material will be acted upon in a timely and appropriate manner. Any attempt to extort money from Space Media Network will be ignored and reported to Australian Law Enforcement Agencies as a potential case of financial fraud involving the use of a telephonic carriage device or postal service.