Automobile

Bloomberg Ferrari NV slightly raised its full-year profit target after the Italian supercar maker managed to dodge most of the supply-chain snarls weighing on mass-market automakers. Ferrari forecasts adjusted earnings before interest, taxes, depreciation and amortisation of about $1.76 billion for 2021 after a jump in third-quarter shipments and profit, it said. New Chief Executive Officer Benedetto Vigna is under …

Bloomberg Chinese electric vehicle startup Xpeng Inc unveiled details of new products and features including an assisted driving system, a faster charging infrastructure and a flying car as it signalled its intent to expand from its auto-manufacturing roots. The Guangzhou-based company also launched the prototype of a ridable robot horse at its so-called “Tech Day.” Xpeng said 60% of its …

Bloomberg Toyota Motor Corp is kicking off its first series of electric vehicles bound for the global market with a battery-powered SUV that the Japanese automaker says embodies the reliability and efficiency underpinning the Toyota brand. The “bZ4X,” which resembles Toyota’s popular Rav-4, is set for release in North America, Japan, China and Europe in mid-2022, the company said. With …

Bloomberg Renault SA will lose out on far more car production this year than previously anticipated because of the worsening global chip shortage, another obstacle to the carmaker’s turnaround plans. The French manufacturer will make around 500,000 fewer vehicles — that’s equivalent to nearly a fifth of last year’s output — due to a lack of components, it said. Renault …

Bloomberg Car and motorbike maker Honda Motor Co is positioning itself for a vertical takeoff. The Tokyo-based company is embarking on efforts to field a new electric-hybrid air taxi, a robot with human-like hands that may one day toil on the moon and a reusable rocket to carry small satellites into space more economically. Honda’s vision of how people will …

Bloomberg Toyota Motor Corp cut its global car production target for November by around 15% from an earlier plan as a shortage of parts continues to weigh on the world’s No. 1 automaker. The Japanese company had initially planned to make 1 million cars next month but now expects to do only around 850,000 to 900,000 units, it said. “Since …

Bloomberg Volvo Car AB is recalling more than 460,000 vehicles worldwide over risk an air-bag component that’s bedeviled automakers for years could rupture into metal fragments and strike drivers. The Swedish carmaker told the US National Highway Traffic Safety Administration (NHTSA) it has identified potential for tablets of propellant in its vehicles’ air-bag inflators to decay if they’re subject to …

Bloomberg Nissan Motor Co is planning to spend more than 130 billion yen ($1.2 billion) implementing new technologies that will make its global factories more efficient, less polluting and ready to produce next-generation cars such as electric vehicles. As part of its “Intelligent Factory Initiative,” Nissan has spent about 33 billion yen over the past two years installing advanced equipment …

Bloomberg Automakers logged their weakest September sales in the UK since 1998 as the global shortage of semiconductors constrains production. Registrations plunged more than a third from a year ago to 215,312 cars, according to the Society of Motor Manufacturers and Traders. It’s a significant blow to the industry because September is typically the market’s second-busiest month of the year. …

Bloomberg Fashion houses such as Stella McCartney and Victoria Beckham have long eschewed animal products in their wares, while automakers including Audi, BMW, Land Rover, and Tesla offer leather-free and sustainable interiors as options in their cars. So far, Volvo is among the very few brands to say it will not offer any leather at all, even as an option, …