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The Latest Breaking News from Ray Scott

Hyundai Tells Dealers To Brace For Tariff Impacts

Today is April Fools' Day. But you know what's no joke? Tariffs, which are on the docket to begin in an unprecedented way tomorrow. Automakers across the globe are scrambling to figure out how to deal with them, and soon dealers will need to figure out how to convince consumers…

InsideEVs

Trump warned automakers not to raise prices after his tariffs and be happy how ‘great’ they are

Trump reportedly hosted a call in early March with auto CEOs before he made the 25 percent tariffs official this week

The Independent UK

Fortune 500 auto-parts supplier Lear looks to slash some 15,000 jobs this year globally

The company is also looking to drive growth by winning new business from the one group of automakers most likely to grow in the near future: Chinese domestic brands like BYD, Feely, and now Xiaomi.

Fortune

From analysis to the latest developments in health,
read the most diverse news in one place.

Lear In Acquisition Spree - Buys Seat Climate Control Provider IGB

Lear Corporation (NYSE:LEA) has agreed to acquire I.G. Bauerhin, an automotive seat heating, ventilation, active cooling, and electronic control modules supplier, for €140 million. LEA expects the acquisition to expand its product capabilities into active cooling and complement its existing offerings. The transaction marks Lear's second acquisition of a thermal comfort solutions company.…

Benzinga

Lear Q4 Earnings Top Estimates; Warns On Uncertainties Over Semiconductor Shortages, Inflationary Pressures

Lear Corp (NYSE:LEA) reported a fourth-quarter FY21 sales decline of 7% year-on-year, to $4.88 billion, beating the analyst consensus of $4.72 billion. Global vehicle production decreased 13% Y/Y with North America down 15%, Europe down 26%, and China down 4%. Selling, general and administrative expenses fell 4.4% Y/Y to $140.2 million. Core operating…

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