Tag Archives: Down

Thinner new-car margins drag down Sonic Q2 earnings

Sonic Automotive Inc.’s net income tumbled 47 percent to $12.1 million in the second quarter, the publicly traded dealership group said Friday. Squeezed new-vehicle margins were largely to blame, executives said, due to competitive pricing pressure, automakers’ trying to limit incentives and a glut of nearly new off-lease cars. An ongoing economic slump in the oil patch states, such as ... Read More »

Domestic car sales down 11.24% in June, shows SIAM data

Domestic passenger vehicle sales declined by 11.21 per cent to 198,399 units in June from 223,454 units in the same month last year. Domestic car sales were down 11.24 per cent to 136,895 units as against 154,237 units in June last year, according to data released by the Society of Indian Automobile Manufacturers (SIAM). Motorcycle sales last month, however, rose 2.18 per cent ... Read More »

Cruise night spotlight Massive “bucket list” car show touches down in Wisconsin

Attendees of one of the America’s largest collector car shows mill around a sample of the more than 2,200 cars on display. (Iola Car Show) Situated 230 miles north of Chicago, the small town of Iola, Wisconsin hosts one of the largest annual antique car shows in the country. The three-day Iola Car Show will honor the 50th anniversary of the ... Read More »

Flood of off-lease used cars push prices down, upend market

DETROIT – In 2014, Infiniti leased more than 28,000 Q50 luxury sedans for as little as $329 per month in a growing U.S. market. The leases accounted for more than three-quarters of Q50 sales. Now they’re coming back to haunt the automaker. Like many companies that juiced sales with sweet leases during the past few years, Nissan’s luxury brand now ... Read More »

Nunes steps down from Russia-Trump investigation

House Intelligence Committee Chairman Devin Nunes on Thursday stepped down temporarily from his role leading the committee’s probe of Russian interference in the 2016 presidential campaign and possible surveillance of Trump associates by the prior administration. Nunes in a statement cited the efforts of “several leftwing activist groups” to lodge “entirely false and politically motivated” accusations against him with the ... Read More »

Cyanogen Shutting Down Services by December 31; CyanogenMod to Transition to Open-Source Lineage OS

After months of internal turmoil, Cyanogen finally announced that it will shut down all services and Cyanogen-supported nightly builds on December 31. The company revealed that the move is a part of the ongoing consolidation of Cyanogen. With this, CyanogenMod will be killed, though the company has also confirmed its next open-source initiative dubbed Lineage. “The open source project and ... Read More »

Freedom 251 Maker Ringing Bells Refutes Reports of Shutting Down

Reports of Ringing Bells closing down its operations are surfacing online. In a statement on Thursday, the company is denying those reports however. TeleAnalysis reported that the maker of the Freedom 251 smartphone formed another company named MDM Electronics Private Limited, and had set up shop in Delhi, closing the curtains on Ringing Bells forever. However, the Indian company has ... Read More »

Demonetisation: Sales Down 25-30 Percent, Says Micromax

Consumer sales have seen a 25-30 percent hit in past few weeks due to twin impact of demonetisation and seasonal slowdown post Diwali, country’s third largest handset maker Micromax said today. While online sales suffered due to cash crunch in the aftermath of demonetisation, the company’s supply chain saw a 15-18 percent decline in sales in the last few weeks. ... Read More »

iPhone Sudden Shut Down Problem? This Is What Apple Has to Say

It was reported late last month that some iPhone users are facing battery issues in that their phones were abruptly shutting down even with sufficient battery life remaining. After hearing multiple complaints, Apple issued a replacement process for those iPhone 6s users who were facing such shutdowns. Apple has now issued a statement on its Chinese website regarding the issue. ... Read More »

Samsung Galaxy Note 7 Crisis Brings Down South Korea’s Industrial Output

South Korea’s industrial output fell in October as Samsung Electronics discontinued its latest flagship Galaxy Note 7 smartphones, a government report said on Wednesday. Production in all South Korean industries dipped 0.4 percent in October as railway workers went on strikes, Xinhua news reported. Production slid further from previous months according to Statistics Korea. Samsung ending production and sales of ... Read More »