Carlos Ghosn officially folded troubled Mitsubishi Motors into the Renault-Nissan alliance and appointed himself chairman, forecasting nearly half a billion dollars in savings as soon as next year as the group joins a small club of automakers operating at a massive scale.
South Korea expanded an investigation into the fabrication of emissions and noise-level test results to all foreign car brands after fining Volkswagen Group for violations.
Robert Bosch began playing a key role in developing Volkswagen Group’s emission-cheating technology as early as the late 1990s, lawyers for VW owners said in a U.S. court filing that includes detailed allegations against the German supplier.
The head of VW Group sales for corporate fleets Martin Jahn moved within the Volkswagen Group to the post of Executive Vice President of Sales and Marketing of Volkswagen in Northern China.
South Korean prosecutors said they questioned the head of Volkswagen Group’s local unit in connection with allegations that the automaker fabricated emissions test results for cars sold in the country.
Toyota Motor Corp. said operating profit in the latest quarter fell 15 percent to 642 billion yen ($6.33 billion) as a strong yen weighed on earnings. Net income in the three months through June dropped to 552.47 billion yen, the automaker said today. Revenue fell to 6.59 trillion yen.
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