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Maruti Suzuki posts $2.3 billion revenue

  New Delhi / Bloomberg Maruti Suzuki India Ltd. shares rose after the automaker posted revenue that beat analyst estimates as it sold more of the new Baleno hatchback and automatic variants of some existing models. The shares gained as much as 4.1 percent, the most intraday since April 13, in Mumbai trading. Total revenue in the quarter through March ...

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Mitsubishi admits it conducted false mileage tests since 1991

  TOKYO / AP Mitsubishi Motors Corp., the Japanese automaker that acknowledged last week that it had intentionally lied about fuel economy data for some of its models, said an internal investigation found such tampering dated back to 1991. President Tetsuro Aikawa told reporters on Tuesday the probe was ongoing, suggesting that more irregularities might be found. “We don’t know ...

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S Korea vows to revamp ailing shippers, shipbuilders

  Seoul / AFP South Korea vowed on Tuesday to restructure the country’s once formidable shipbuilding and shipping sectors, now crippled by mismanagement, slowing global demand and competition from Chinese rivals. Shipbuilders, including Hyundai Heavy Industries and Daewoo Shipbuilding and Marine, have racked up massive losses after slumping oil prices sapped demand for tankers and offshore drillers. The “Big Three” ...

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