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VW's profit boost clouded by $6.8 billion diesel-crisis charge

Feb. 24, 2017 19:58 CET

VW Group's provisions for its diesel scandal increased by 6.4 billion euros ($6.8 billion) last year. The costs overshadowed improving business as VW's operating profit rose to 14.6 billion euros, helped by record sales of Audi and Porsche cars.
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VW caps executive pay, tightens bonus eligibility
Feb. 24, 2017 19:08 CET

VW is shaking up its executive pay with a cap on earnings as it looks to quell widespread anger over bonuses paid even as the carmaker suffered record losses in the after ...

 

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VW's refusal to compensate diesel owners leaves EU consumer chief 'desperate'
Feb. 24, 2017 17:50 CET

The EU's consumer affairs chief said VW Group's failure to compensate European customers hit by the automaker's emissions-rigging scandal has made her feel "desperate." ...

 




 
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GM-PSA TALKS
GM, PSA haggle over $9 billion pension gap, report says
Feb. 24, 2017 14:31 CET

As GM tries to sell its European business to PSA, one issue looms large: how the companies will manage an underfunded pension plan. GM's pension plan for Opel and Vauxhal ...

 

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GM-PSA TALKS
GM said to demand non-compete clauses in return for Opel patents
Feb. 24, 2017 14:45 CET

GM has told PSA it would only sell licenses for the manufacture of Opel cars to the French company if it agreed not to sell them in North America, Russia or China, a Germ ...

 

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Aston Martin's losses accelerate; new DB11 brings surge to sales
Feb. 24, 2017 17:23 CET

Aston Martin reported a sharp rise in losses, failing to turn a profit for the sixth year running, but said the launch of the DB11 caused sales to surge at the end of 201 ...

 

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VW brand chief Diess gets backing from Porsche-Piech clan, report says
Feb. 24, 2017 11:36 CET

Volkswagen Group's embattled VW brand chief Herbert Diess still has the backing of the clan that controls the carmaker, despite his recurring clashes with labor leaders o ...

 

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Audi supervisory board backs CEO Stadler
Feb. 24, 2017 09:17 CET

Audi's supervisory board backed CEO Rupert Stadler, saying allegations brought against him by a former Audi employee suing for wrongful termination were not accurate. ...

 

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Mercedes mulls U.S. potential for its new pickup
Feb. 24, 2017 12:05 CET

Mercedes-Benz Vans division is looking closely at a growing demand in the United States for midsize pickups to see whether there is potential to launch its X class in the ...

 

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GM_PSA TALKS
Tavares offers reassuring words on Vauxhall plants
Feb. 24, 2017 14:08 CET

PSA CEO Carlos Tavares played down the threat to British plants as he discussed his potential takeover of General Motors' European operations during a visit to London. ...

 

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GM-PSA TALKS
PSA has 'track record' to turn around Opel/Vauxhall, Tavares says
Feb. 24, 2017 06:01 CET

PSA CEO Carlos Tavares offered a robust justification for a potential deal to buy GM's Opel/Vauxhall business, saying his company has the track record and expertise to tu ...

 

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GM-PSA TALKS
PSA-Opel deal promises Big Bang in small cars, report says
Feb. 23, 2017 17:08 CET

PSA plans an engineering blitz to redevelop Opel's core models with its own technology if it succeeds in buying GM's European arm, Reuters reported. PSA wants to build th ...

 

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PSA takes first steps to U.S. market entry with ride-sharing service
Feb. 23, 2017 09:10 CET

PSA will be a partner in TravelCar, a ride-sharing service set to begin in April at airports in San Francisco and Los Angeles, as the automaker takes the first steps towa ...

 

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UK car production reaches 9-year high in January
Feb. 23, 2017 10:16 CET

UK car production rose by an annual 7.5 percent in January to hit its highest level since 2008, as strong demand for exports compensated for a decline in demand at home, ...

 

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Brexit-induced fall in pound left Nissan worse off in UK
Feb. 23, 2017 11:26 CET

Nissan said the Brexit-induced fall in the pound, which dropped by some 15 percent against the euro after the June referendum, had left it slightly worse off in the UK as ...

 

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VW exec Schmidt pleads not guilty, but must stay behind bars, judge says
Feb. 23, 2017 19:51 CET

VW executive Oliver Schmidt will remain behind bars as an extreme flight risk even after not-guilty pleas were entered on his behalf during his arraignment in U.S. Distri ...

 

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Google spinoff Waymo claims former employee stole self-driving tech secrets
Feb. 24, 2017 00:45 CET

Waymo, a Google spinoff, claims Anthony Levandowski downloaded 14,000 files before leaving to start his own company, Otto, which was later bought by Uber. The suit is the ...

 

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2017 GENEVA AUTO SHOW
Kia counts on loyal buyers for new Picanto
Feb. 23, 2017 06:01 CET

Kia hopes customer loyalty, along with new connectivity and safety features, will help lift sales of the Picanto in the price-sensitive minicar segment. ...

 

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Ghosn will focus on Renault, Mitsubishi; steps down as Nissan CEO
Feb. 23, 2017 00:34 CET

Carlos Ghosn is stepping down as Nissan CEO, having driven the Renault-Nissan Alliance to new heights with the acquisition of Mitsubishi. Hiroto Saikawa will become sole ...

 

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VW said to renew India push with Tata alliance talks
Feb. 22, 2017 19:53 CET

VW Group is in advanced talks to team up with Tata Motors as the German automaker takes another stab at India's fast-growing demand for cars, Bloomberg reported. Competit ...

 

    
 
Once upon a time, Opel was GM's little engine that could

Richard Johnson
12:01 am U.S. ET | Feb. 20 2017

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Europe has been a drain on General Motors for a long time, but Opel did have its glory days and at least once helped keep GM afloat. ...
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Will cockpits of tomorrow require one-stop suppliers?


12:01 am U.S. ET | Feb. 17 2017

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As automakers consider how to build self-driving vehicles, seat suppliers are reconsidering an old i ...
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How sour dealer relations wreaked havoc on Audi's China sales

Yang Jian
3:48 am U.S. ET | Feb. 17 2017

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Audi has lost its premium sales lead in China as the brand was finally overtaken last month by rival ...
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GM-PSA deal would be a blow to best Opel management team in years

Christiaan Hetzner
11:19 am U.S. ET | Feb. 14 2017

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GM's confirmation that it is discussing selling its Opel/Vauxhall business to PSA Group is a blow fo ...
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Renault starts to reflect its multifaceted boss

Luca Ciferri
9:27 am U.S. ET | Feb. 10 2017

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Renault is starting to look and act a lot like its multifaceted, multinational boss, Carlos Ghosn. ...
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The Volvo numbers that stood out

Douglas A. Bolduc
6:29 am U.S. ET | Feb. 8 2017

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Volvo's latest financial results were full of positive numbers but a couple really stood out. Volvo finished 2016 with $5. ...
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Daimler celebrations are muted as automaker conserves cash to fight off Uber, Google

Christiaan Hetzner
12:01 am U.S. ET | Feb. 3 2017

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Record annual sales, revenue and profits, and Mercedes-Benz grabbing the global sales luxury crown f ...
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German automakers worry about Trump's protectionist stance

Christiaan Hetzner
8:53 am U.S. ET | Feb. 2 2017

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Donald Trump has German automakers spooked after he threatened BMW with high tariffs if the company ...
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Toyota still has global bragging rights over VW in one important area

Hans Greimel
12:01 am U.S. ET | Feb. 2 2017

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Forget all the talk about Volkswagen ousting Toyota as the world's biggest automaker. Rest assured, Toyota is still No. 1 in sales and VW a far, far distant second. ...
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Citroen keeps faith in family vans

Bruce Gain
12:01 am U.S. ET | Feb. 2 2017

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Citroen CEO Linda Jackson says family vans will continue to play a part in Citroen's lineup despite ...
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Newsletters & Alerts
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Opel, PSA lag rivals as Europe sales rise 10% in January
GM's Opel brand and PSA posted weaker European sales in January than their rivals amid discussions o ...
 Read More ›
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Opel, PSA lag rivals as Europe sales rise 10% in January
Opel and PSA posted weaker European sales in January than their rivals amid discussions of a possibl ...
 Read More ›
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Irish new-car sales fall in January as Brexit bites
New-car sales in Ireland fell nearly 2 percent in January as the British pound's sharp decline after ...
 Read More ›
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EU car sales growth expected to slow to 1%, ACEA says
Car sales in the EU are expected to grow by about 1 percent in 2017, a sharp slowdown from last year ...
 Read More ›
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Russia slump forecast to end; rapid recovery unlikely
After a four-year drop, Russia's car market looks to have bottomed out, leaving manufacturers optimi ...
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Western European car sales rise 10% in January
Western European car sales rose 9.5 percent in January on buoyant demand in Germany, France, Italy a ...
 Read More ›
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UK sales rise 3% in Jan. on consumer demand
UK new-car registrations rose 3 percent in January, helped by the first increase in demand from priv ...
 Read More ›
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Jaguar, Honda, Jeep win by tapping crossover craze
Jaguar, Honda and Jeep were the biggest winners last year among brands sold in Europe, where overall ...
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German sales rise 11% with strong gains for Toyota, Skoda, Renault and Fiat
Registrations in Germany increased by 11 percent in January, with brands including Toyota, Skoda, Re ...
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Italy's January sales best since 2010
New-car sales in Italy increased by 10 percent in January for the best monthly result since 2010, wi ...
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VW Golf, other volume compacts lose share to premium rivals, SUVs
The VW Golf and Ford Focus compacts are being squeezed as premium competitors such as the Mercedes A ...
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Europe's large premium SUV segment heads for record year
Europe's large premium SUV segment is on track for a record year, helped by rising sales of models s ...
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Audi, Mercedes push key segment toward milestone
Audi, BMW and Mercedes-Benz are largely responsible for the growing success of the compact premium s ...
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Audi, BMW, Jaguar give midsize premium segment a lift
Europe's midsize premium segment grew at a near double-digit pace in the first half on new models fr ...
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Skoda, Renault, Toyota benefit from higher sales of midsize cars in Europe
Europe's midsize segment is on track for a second year of rising sales as new models from Skoda, Ren ...
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Federal-Mogul shakes up leadership under Icahn takeover
Federal-Mogul Holdings named Bradley Norton as the new co-CEO and CEO of the supplier's motor parts division. ...
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Bernhard quits Daimler; Zetsche interim trucks boss
Daimler has confirmed that trucks chief Wolfgang Bernhard, a top manager once seen as a successor to ...
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BMW picks Skoda exec to lead design at core brand
BMW has picked Skoda executive Jozef Kaban to lead design at its namesake brand, a move that fills t ...
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BMW names new CEO for North America
BMW named Bernhard Kuhnt to become CEO of BMW of North America. Ludwig Willisch, who previously held ...
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Tesla sues former head of Autopilot, former Google exec Urmson
Tesla is suing its former head of Autopilot software for stealing company information and recruiting Tesla employees for a competing startup while still employed by the... ...
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Jaguar Land Rover appoints Wittemann as China sales chief
Jaguar Land Rover has assigned Frank Wittemann, chief of its operations in Latin America, to lead it ...
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Ford plucks new brand chief from Apple
Ford has hired former Apple marketing executive Musa Tariq to be vice president and chief brand offi ...
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Volvo appoints Yuan Xiaolin as new Asia chief
Volvo named Yuan Xiaolin to succeed Lars Danielson as senior vice president of the company's Asia-Pa ...
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Uber hires Google veteran Singhal to aid self-driving engineering
Ride-hailing company Uber said it hired the man behind Google search to work closely with CEO Travis ...
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Former Nissan, Hyundai exec Rushforth joins Lookers
Former Nissan global sales chief and Hyundai Europe chief operating officer Allan Rushforth has join ...
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Hyundai gives i30 a tech boost
The Hyundai i30's success has been important in boosting the brand's European growth in the past 10 ...
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Toyota gets quirky with C-HR to 'turn heads'
Toyota is a latecomer to Europe's crossover segment with the new C-HR. ...
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Better-connected 5 series gets tech from BMW flagship
BMW has made its 5 series lighter, more economical and fully connected with advanced technology firs ...
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Smart improves ForTwo, ForFour EV variants with Renault tech
Smart has improved its EV technology for the battery-powered versions of its ForTwo and ForFour with ...
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Audi makes Q5 a tougher rival for Mercedes GLC, Porsche Macan
Audi has developed the second-generation Q5 to have the driving dynamics of the Porsche Macan and a ...
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Audi makes Q5 a tougher rival for Mercedes GLC, Porsche Macan
Audi has developed the second-generation Q5 to have the driving dynamics of the Porsche Macan and a ...
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Peugeot moves upscale with new 3008 SUV
The new Peugeot 3008 has been turned into an SUV from a minivan and has been given significant upgra ...
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Citroen aims C3 at Facebook generation
Citroen is aiming its new C3 firmly at younger, tech-savvy buyers who will appreciate features such ...
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Porsche enhances Panamera's 911-like looks
Porsche is hoping its second-generation Panamera will lure more European customers with the sedan's ...
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Renault keeps the Scenic family friendly
Renault has kept the Scenic’s minivan design in a move that goes against the industry trend of ...
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Suppliers to the new Renault Megane
Assembly of the fourth-generation Renault Megane began in November 2015 at the French automaker's fa ...
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Suppliers to the new Infiniti Q30
Assembly of the all-new Infiniti Q30 began on Daimler's MFA platform in December 2015 at the Nissan' ...
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Suppliers to the new Mercedes C-class Coupe
Assembly of the second-generation Mercedes-Benz C-class Coupe began in Bremen, Germany, in October 2 ...
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Suppliers to the new Opel/Vauxhall Astra
Assembly of the latest Opel/Vauxhall Astra began in Gliwice, Poland, in August 2015 and then in Elle ...
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Suppliers to the new Jaguar F-Pace
Assembly of Jaguar's all-new F-Pace began at parent Jaguar Land Rover's facility at Solihull, Englan ...
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