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#7147641 at 2019-07-23 17:58:09 (UTC+1)
Q Research General #9145: Shills playin in the dough! Butthurt! ANONS say MAKE IT RAIN KEK! Edition

Nissan Slashing Over 10,000 Jobs Globally, 7% Of Its Entire Workforce

What some auto manufacturers and industry experts were passing off as a slight hiccup for the auto industry is rapidly turning into a full-scale recession if not all out depression, one complete with a litany of layoffs in the global auto industry as sales in major countries like the United States and China have been steadily deteriorating for the last 18 months.

We've already seen massive planned layoffs from US auto makers like Ford, and now Nissan is the latest to join the mass layoffs bandwagon, with Kyodo reporting that Nissan will cut over 10,000 jobs globally, or over 7% of its entire global workforce.

In some respects, it's deja vu of The Great Recession for Nissan. In 2009, the company slashed 20,000 jobs before forecasting a $2.6 billion loss. This represented about 8% of the company's 235,000+ employee count at the time.

Today's cuts are likely in response to the deteriorating automotive market in China: recall in early July we reported that Nissan's sales in China from January to June totaled 718,268 units, a 0.3% y/y decline.

In May, we reported that countries like China, the United Kingdom, Germany, Canada and the United States had all seen at least 38,000 job cuts over the last six months in the automotive sector. Daimler CEO Dieter Zetsche said in May that "sweeping cost reductions" are ahead to prepare for what he is calling "unprecedented" industry disruption

https://www.zerohedge.com/news/2019-07-23/nissan-slashing-over-10000-jobs-globally-7-its-entire-workforce

#7145684 at 2019-07-23 15:06:22 (UTC+1)
Q Research General #9142: Enjoy The Show Edition

Nissan Slashing Over 10,000 Jobs Globally, 7% Of Its Entire Workforce

What some auto manufacturers and industry experts were passing off as a slight hiccup for the auto industry is rapidly turning into a full-scale recession if not all out depression, one complete with a litany of layoffs in the global auto industry as sales in major countries like the United States and China have been steadily deteriorating for the last 18 months.

We've already seen massive planned layoffs from US auto makers like Ford, and now Nissan is the latest to join the mass layoffs bandwagon, with Kyodo reporting that Nissan will cut over 10,000 jobs globally, or over 7% of its entire global workforce.

This is likely in response to the deteriorating automotive market in China: recall in early July we repored that Nissan's sales in China from January to June totaled 718,268 units, a 0.3% y/y decline.

In May, we reported that countries like China, the United Kingdom, Germany, Canada and the United States had all seen at least 38,000 job cuts over the last six months in the automotive sector. Daimler CEO Dieter Zetsche said in May that "sweeping cost reductions" are ahead to prepare for what he is calling "unprecedented" industry disruption.

A few weeks ago we algo reported that over 25% of all June job cuts came from the automotive sector, according to Managing Economist for Refinitiv Jeoff Hall. Hall commented on Twitter that the industry's 10,904 redundancies were the most in seven months and the second most in seven years. Hall also noted that excluding autos, there were only 31,073 job cuts in June, the fewest in 11 months, in low-normal range.

We reported about Ford's plans to cut another 7000 jobs, representing 10% of its workforce worldwide, about a month ago. And the recession, which was likely due to happen regardless of market conditions, comes at the worst possible time. It could be exacerbated by the ongoing trade war, which foreign carmakers have warned could put 700,000 American jobs at risk.

Furthermore, at the beginning of June we noted that Bank of America had said that "the auto cycle had peaked".

While Bank of America attributed much of the downturn in the manufacturing sector to the ongoing trade war, it singled out the automotive industry as a specific area for concern. Calling the problem a "classic story of demand/supply mismatch", the bank pointed out that producers continue to ramp up output at a time when demand has softened.
https://www.zerohedge.com/news/2019-07-23/nissan-slashing-over-10000-jobs-globally-7-its-entire-workforce

#5051855 at 2019-02-06 10:02:07 (UTC+1)
Q Research General #6451: POTUS Opened The Door Of All Doors Edition

Trade war, diesel troubles hold back profit at Daimler
By DAVID MCHUGH, AP BUSINESS WRITER FRANKFURT, Germany - Feb 6, 2019, 4:52 AM ET

Automaker Daimler said Wednesday that fourth-quarter net profit fell 49 percent to 1.64 billion euros ($1.87 billion) as its Mercedes-Benz luxury car business was buffeted by trade conflict, diesel woes and costs for developing new models and technologies.

Revenue rose 7 percent to 46.6 billion euros and the company said demand for its products remained strong.

The luxury car division, the mainstay of its earnings, saw profitability fall as it faced multiple challenges. The U.S.-China trade war meant new import taxes on cars made in the U.S. and sold in China. Bottlenecks in getting cars certified for emissions procedures also affected the business. The operating profit margin on sales at Mercedes, a key earnings indicator, fell to 7.3 percent from 9.5 percent in the same quarter a year earlier.

The company also cited spending on new technologies such as electric and autonomous vehicles. Among other things, tighter limits on carbon dioxide emissions in the European Union from 2021 mean carmakers must add electric cars to their sales mix and get customers to buy them.

"For Daimler, 2018 was a year of strong headwinds," said CEO Dieter Zetsche, presenting his last annual results before handing off to successor Ola Kallenius at the May 21 shareholder meeting.

He said that "we cannot and will not be satisfied" with lower profit margins. He added that the company was coming up with plans to increase profitability though declined to indicate what steps might be taken.

Zetsche said at the company's annual news conference that Daimler AG has "no concrete plans" to move production of GLE and GLS sport-utility vehicles to China from Tuscaloosa, Alabama, in order to avoid the import taxes.

Diesel engines came under new scrutiny from governments since Volkswagen was caught rigging cars to cheat on emissions tests and other manufacturers' cars were found to have higher emissions in everyday driving than in testing. The German government has pushed carmakers to update engine software on already-sold cars to reduce diesel emissions. Companies encountered delays getting cars certified under new, tougher emissions testing introduced Sept. 1.

Lower profits at the Mercedes-Benz division outweighed a strong performance from the trucks division, which includes the Freightliner brand. Truck division operating earnings rose 27 percent to 710 million euros.

For the full year, net profit fell to 7.6 billion euros from 10.6 billion in 2017, while revenues rose 2 percent to 167.4 billion euros.

The lower annual profit meant profit-sharing checks for 130,000 workers in Germany would fall to 4,965 euros from 5,700 euros paid out last year.


https://abcnews.go.com/International/wireStory/trade-war-diesel-troubles-hold-back-profit-daimler-60879373

*looks like a german automobile maker…. no? 😎

#3359130 at 2018-10-06 04:25:48 (UTC+1)
Q Research General #4256: China Responds to Pence Edition

FUCKING WINNING!
AMERICA IS BACK BOYS!!!

Watch the liberal heads start popping like corn when Motor City lights back up for GOOD!

Auto Makers Consider Shifting Manufacturing to North America

Foreign car makers are considering moving more manufacturing to North America from their overseas plants following the recent U.S. trade deal with Canada and Mexico.

Within days of the U.S. and Canada reaching a pact to replace the roughly 25-year-old North American Free Trade Agreement, executives at several foreign car makers said they are considering changes to their supply chains that would shift more auto-parts manufacturing work to the U.S., Canada and Mexico.

"We will allocate more U.S. production for the U.S. market," BMW AG CEO Harald Krüger told reporters at the Paris Motor Show this week. He said that the German car maker already sources many parts in the region, but the new trade pact will accelerate a shift in investment.

Daimler AG CEO Dieter Zetsche said at the same event the new agreement could force it to shift more engine manufacturing to the U.S., where it builds cars and sport-utility vehicles at a factory in Tuscaloosa, Ala.
The impact on foreign auto makers' North American operations from the new United States-Mexico-Canada Agreement, which still has to be approved by Congress, remains unclear. But many in the auto industry see the pact as evidence of President Trump's tough approach to trade at a time when he is threatening new tariffs on European and Japanese auto imports.

Industry consultants say auto makers are growing increasingly nervous that more restrictions could emerge as Mr. Trump turns to trade talks with Japan and the European Union.

Carlos Ghosn, head of the Renault-Nissan-Mitsubishi alliance, said the new North American trade pact would spur the car-making group to invest more in both the U.S. and Mexico, but didn't provide details. Honda and VW said in separate statements that they are still analyzing the potential impact of the deal on their local operations.

Mazda Motor Corp., which relies on Japan for engines and transmissions, would also struggle to meet the higher content requirements on its Mexico-built Mazda3 compact car.

https://www.msn.com/en-us/money/companies/auto-makers-consider-shifting-manufacturing-to-north-america/ar-BBNYtiB?ocid=spartanntp

#3190555 at 2018-09-26 10:08:26 (UTC+1)
Q Research General #4039 Happy Birthday, (Baker's) Mom! Edition

The chief executive of German carmaker Daimler, Dieter Zetsche,

will resign from his post in May 2019, the Stuttgart-based company

has announced. His contract would have expired in December of next year.

https://www.dw.com/en/daimler-ceo-Dieter-Zetsche-to-quit-in-2019/a-45642474

#3190441 at 2018-09-26 09:35:26 (UTC+1)
Q Research General #4038 404's Still being Addressed Edition

>>3190416
>>3190424
Here's a link to the English Mercedes-blog.
Author claims the news to be SHOCKING.
Kek, nobody escapes us!

http://mercedesblog.com/shock-Dieter-Zetsche-leaves-mercedes-after-12-years-as-ceo/

#2012949 at 2018-07-03 17:02:50 (UTC+1)
Q Research General #2539: The SWAMP Is Being DRAINED Edition

TRANSLATED VERSION OF THE BLACKFOREST ARTICLE
BAKER PLEASE ADD THIS TO DOUGH WITH LB's POSTS ON BLACKFOREST

Summit Conference in the Blackforest cabin

A small wooden cabin in Germany's blackforest, hunting horn blowers playing at the entrance,
it's pouring rain. Seven Mercedes S-Class vehicles slightly drive on sandy roads.

High-level visitors in midst of the blackforest. Ex-President Bill Clinton (66, light colored suit
over a knit pullover) was invited by his friend, Entrepreneur Karlheinz Kögel (66, MEDIA CONTROL,
Ltur founder), on Sunday for the third time for a cabin night in Germany.
Kögel said: "Clinton loves the blackforest".

And Clinton especially loves that specific blackforest cabin - it's owned by the city of Baden-Baden.
Stars of the economy, media and politics visited the place as well - many of them with a special
relationship to the United States.

Ex-Defense minister Karl-Theodor zu Guttenberg (41) with his with Stephanie (36) flying to Germany
to participate the meeting in that night.

Daimler (Mercedes) CEO Dieter Zetsche (61, lived for 6 years in the US) talked to Clinton while
having marinated pot roast, asparaguses, and Riesling (of Guenther Jauch's vineyard). Discussing
topics like the economy and cars.

Entertainer Thomas Gottschalk (63) headed to the blackforest after being in London for the Champions
League finals. And Guenther Oettinger (59), Ex-PM and EU-Energycommissionar.

Clinton, a man, who saw many facettes of today's world, spoke very impressive about humanity.
("We live in a single world, depending on each other and really have responsibility.") and spoke
very affectionate about his wife, Hillary.
Bill: "She would be a perfect President for America, but it is a really tough job. And she is working
for 20 years very tough in this business.

The Ex-President praised Germany in his speech, for mastering the financial crisis exceedingly well.
But sent a reminder to help the Greeks.

Another special thing on the night: Even though many famous people attended, the phones didn't ring
even once, since the blackforest cabin is located in a dead zone for mobile frequencies.