JAPAN: Mazda expects losses to worsen
Mazda today (2 February) reported a group net loss of JPY112.84bn (US1.3bn) for the April-December period, blaming sluggish sales because of the yen’s strength and Europe’s debt crisis.
RUSSIA: Toyota to expand local production capability
Toyota is expanding the role of its assembly plant in St Petersburg by adding stamping and resin moulding processes to the current CKD kit welding, painting and assembly capabilities.
UK: Deloitte ‘failed at MG Rover’
Auditors Deloitte and one of its partners failed to meet professional standards in advising the Phoenix Four consortium who bought MG Rover Group before the company collapsed in 2005 with the loss of 6,500 jobs and GBP1.4bn (US$2.2bn) in debts.
ITALY: Fiat-Chrysler full year financials "ahead of guidance"
Combined Fiat-Chrysler revenues and trading profit for calendar year 2011 were “significantly ahead of guidance” at EUR59.6bn and EUR2.4bn respectively, “despite uneven trading conditions, particularly weak in Europe in the second half”, Fiat Group Automobiles said in a trading statement on Thursday (2 February). The result included Chrysler’s contribution from June 2011.