NEW YORK — When Hyundai Motor launched its Genesis luxury brand domestically in 2016, many were skeptical the South Korean automaker — recognized mainly for budget vehicles at the time — knew what it was doing. Among the skeptics were auto industry veterans Randy Parker and Claudia Marquez. Both were working for Nissan’s luxury Infiniti … Read more
The remains of the Francis Scott Key Bridge on March 26, 2024 in Baltimore. Michael A. McCoy | The Washington Post | Getty Images The Baltimore bridge collapse has prompted carmakers to assess operations after the closure of the busiest U.S. auto port. Many do not expect major disruptions so far. In a dramatic scene, … Read more
A Nissan Ariya electric car is on display during 2020 Beijing International Automotive Exhibition (Auto China 2020) at China International Exhibition Center on September 27, 2020 in Beijing, China. Vcg | Visual China Group | Getty Images Nissan is targeting an additional 1 million vehicle sales by the end of fiscal 2026 and a 30% … Read more
Akihiko Matsuura, president of UA Zensen, second left, raises his fist with members of the union during a rally for the annual wage negotiations in Tokyo, Japan, on Thursday, March 7, 2024. Kiyoshi Ota | Bloomberg | Getty Images Japan’s largest federation of trade union, Rengo, on Friday said that workers at the country’s biggest … Read more
Japan bar chart graph with ups and downs, increasing values, concept of economic recovery and business improving, businesses reopen, politics concept with flag Elif Bayraktar | Istock | Getty Images Speculation is swirling that the Bank of Japan may move to exit the world’s last negative rate policy as early as next week, when policymakers … Read more
A Carvana sign and signature vending machine in Tempe, Ariz. Michael Wayland/CNBC PHOENIX – As layoffs and cost cuts roil Wall Street, from retail and shipping to tech and media, embattled online used car sales giant Carvana says its own restructuring is in the rear view. Carvana over the last 18 months aggressively restructured its … Read more
Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 16, 2023. Brendan Mcdermid | Reuters This report is from today’s CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they … Read more
United Auto Workers President Shawn Fain, middle, visits striking UAW Local 551 workers outside a Ford assembly center on South Burley Avenue on Saturday, Oct. 7, 2023, in Chicago. John J. Kim | Tribune News Service | Getty Images The United Auto Workers union is launching an unprecedented campaign to organize 13 non-union automakers in … Read more
