Last year, Chinese consumers bought 19 million cars and trucks — 5 million more than consumers in the U.S. Ford's share of those sales was just 3 percent. Years of corporate chaos and financial trouble slowed Ford's entry into China as its rivals gained a foothold. Together, General Motors and Volkswagen control a third of China's market.
The manufacturing community is currently enmeshed in an ideological debate over sourcing and procurement. There's vigorous — and at times emotional — argument surrounding strategies for insourcing, outsourcing, near sourcing or keeping it in-house. The argument really shouldn’t focus on the fervent and at times politically-tinged abstractions of what flag flies over the factory, but rather what’s best for your business.
Delegates from North and South Korea held talks Saturday on restarting a stalled joint factory park that had been a symbol of cooperation between the bitter rivals, but there was no word on whether any significant progress had been made as discussions went into the night.
Chinese authorities have filed criminal charges against nearly a dozen public officials blamed for the high death toll in a fire last month that killed 121 people in a poultry plant in the northeast. China's top prosecuting agency has charged 11 public officials with dereliction of duty, according to a report Friday in the agency's official publication, Jiancha Daily.
A group of primarily European retailers and clothing makers has set a deadline of next spring to inspect clothing factories in Bangladesh that make garments for the companies. The group of 70 companies includes Swedish retailer H&M, Italian clothing maker Benetton and French retailer Carrefour. They say they will concentrate on renovating the most hazardous factories.
According to the business consulting firm Jones Lang LaSalle, there has been a significant uptick in the number of tech manufacturing jobs in the U.S. since 2001. One of the major reasons for expanding manufacturing to the U.S. stems from the desire to have factories closer to consumers and those who can then fix problems.
The European Parliament on Wednesday backed a rescue plan for the world's biggest cap-and-trade system for emissions of carbon dioxide, the most prevalent greenhouse gas from human activities. In a 344-311 vote, European lawmakers in Strasbourg, France, approved a proposal to delay an auction of allowances in the EU's emissions trading scheme.
The U.S. trade deficit increased in May to the highest level in six months as a weak global economy depressed U.S. export sales while imports of autos and other nonpetroleum products hit an all-time high. The trade deficit rose to $45 billion in May, up 12.1 percent from April's $40.1 billion imbalance, the Commerce Department reported Wednesday. It was the largest trade gap since November.
Toshiba Corp. said Tuesday it will expand its semiconductor manufacturing plant in central Japan to meet growing demand for memory chips used in smartphones and tablet computers. Expansion work at the Yokkaichi facility in Mie Prefecture will start in late August for scheduled completion in summer next year, the company said.
China's Commerce Ministry announced Monday it has launched a formal investigation into claims that European Union countries are selling wine at unfairly low prices, as a prolonged dispute over Chinese solar power products continues to affect trade relations. The ministry said in a notice late Monday that it had accepted the complaint brought by the Chinese wine industry in May following a review.
French President Francois Hollande demanded on Monday that the United States immediately stop its alleged eavesdropping on European Union diplomats and suggested that the widening surveillance scandal could derail free-trade negotiations worth billions. The Obama administration is facing a breakdown in confidence from key allies over secret surveillance programs that reportedly installed covert listening devices in EU offices.
Toyota Motor Corp. will aim to boost its sales of vehicles in emerging markets from 3.7 million in 2012 to 5 million in the future, a company executive said Monday, as the automaker predicts its global sales will reach a record 10 million units.
The European Union is offering companies tax incentives to hire more apprentices, in a plan to put the "lost generation" back to work. One apprentice, who helps build a crucial part for Boeing's 737, talks about his experience as a Safran apprentice.
NextGen Illumination Inc. is moving its manufacturing operation from overseas to Oklahoma. The Fayetteville-based maker of light-emitting diode lighting for industrial, commercial, residential and agricultural applications has struck a deal with Cherokee Nation Industries to build products in Stilwell, Okla., a few miles from the Arkansas border. The company's manufacturing operation had been in Asia.
Toyota Motor Corp. said Monday its Turkish subsidiary held a line-off ceremony for the Corolla car and the Verso minivan at a factory in Sakarya, Turkey. The models, to be exported to more than 50 countries in Europe, North Africa, the Middle East and Central Asia, will be assembled at the plant, which cost an additional capital outlay of 150 million euros, it said.
China's manufacturing weakened again in June amid a credit crunch and slower U.S. and European orders, two surveys showed Monday, adding to signs that growth in the world's second-largest economy is decelerating. HSBC's purchasing managers' index declined to 48.2 from May's 49.2 on a 50-point scale on which numbers below 50 show a contraction.
Germany has blocked a European Union agreement on capping car carbon emissions because the deal could have cost jobs and harmed its domestic auto industry, officials said Friday. The blunt admission that Europe's biggest economy put business interests before environmental standards is at odds with Germany's image as a champion of green issues.
An American executive held hostage for nearly a week by his company's Chinese workers in a pay dispute said Friday from his Florida home that he was held for ransom and paid nearly half a million dollars for his freedom. "One-hundred percent I got held for ransom," Chip Starnes said on NBC's "Today" show, just hours after arriving back home from China.
General Motors says it will invest $691 million in its assembly plants in the Mexican cities of Silao, San Luis Potosi and Toluca. GM Mexico's president Ernesto Hernandez said Wednesday the investment will help build a new factory in Silao to manufacture 8-speed transmissions and expand the factories in San Luis Potosi and Toluca.
The United States is expected to suspend trade privileges for Bangladesh because of concerns over labor rights and worker safety that intensified after hundreds died there in the global garment industry's worst accident. Congressional aides said the Obama administration would make its announcement Thursday, the culmination of a yearslong review of labor conditions in the impoverished South Asian nation.
Sometimes, as a leader, you just have to take one for the team. And that's exactly what Renault-Nissan CEO Carlos Ghosn has done. Ghosn cheered on a weakening of the yen, despite it shaving a couple million dollars off his current paycheck. Maybe that's because he still out-earns some peers.
General Motors Co. has promoted veteran executive Alan Batey to the new position of global head of the Chevrolet brand, which accounts for more than half of the company's worldwide sales. Batey also will keep much of his current position, staying on as head of U.S. sales, service and marketing for Chevy, Buick and GMC. He had been head of U.S. sales and interim chief marketing officer.
Nissan Chief Executive Carlos Ghosn promised strong sales growth to shareholders Tuesday in a turnaround from natural disasters and a boycott in China set off by a territorial dispute. He also told them he was paid 988 million yen ($9.9 million) for the past fiscal year, up 1 million yen ($10,000) from the previous fiscal year.
The first full-production Explorer rolled off the assembly line in April at Ford Sollers Elabuga Assembly Plant in the Republic of Tatarstan for the Russian market. Previously, only knock-down versions of Explorer had been built anywhere outside of the United States. Here, Bruce Hettle, director of manufacturing engineering with Ford, talks global Ford SUV production, the Ford Production System, and the future auto market.
The walls of the cavernous AKH clothing factory are covered in red arrows. They point to three wide emergency staircases with evacuation plans posted on every floor. They point to fire extinguishers attached to the walls and pillars throughout the factory. They point to medical kits located near designated workers with "First Aid" stitched onto their shirts.