Europe was Mitsubishi Motors Corp.’s most profitable region in the fiscal first quarter ended June 30, the company said today.
Europe’s operating profit of 12.6 billion yen ($124.3 million) nearly tripled from the year-earlier period, as revenues soared 73 percent to $1.45 billion. Unit sales there rose 11 percent, led by the launch of the Outlander plug-in hybrid.
By DEE-ANN DURBIN
Electric car maker Tesla Motors widened its loss in the second quarter as it prepared for the launch of a new SUV and started work on a massive new battery plant.
Volkswagen said group production chief Michael Macht is quitting immediately, the second top executive to leave the automaker within a week.
Unlike other big automakers, Tesla doesn’t do traditional marketing and as a “cool” company their fans seem to be doing some of the creative work.
Volkswagen’s only acquisition deal on the horizon is a possible increase of its stake in its highly profitable Chinese joint venture with First Automobile Works Corp., VW finance chief Hans Dieter Poetsch said.
