Headlines for Friday, February 22, 2013
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XC90 delay irks Volvo CEO
Volvo CEO Hakan Samuelsson is not happy that the automaker has waited more than a decade to debut a new XC90, which was once the brand's best seller. Global sales of the XC90 fell 21 percent last year. Demand is not expected to rebound until the all-new XC90 goes on sale in early 2015. Read More »
Bosch happy to be on battery sidelines – for now
Bosch Chairman Volkmar Denner is happy that the supplier pulled out of its venture to develop and build lithium ion batteries last year. He says the market is over-saturated with too much capacity for lithium ion batteries. Read More »
Volkswagen forecasts unchanged 2013 operating profit on Europe
VW Group forecast 2013 operating profit will match last year's level, as the shrinking auto market in Europe weighs on earnings. VW is targeting earnings in 2013 on the same level as the 11.5 billion euros earned last year. Read More »
Valeo profit falls 11% despite record orders
French parts supplier Valeo said profit dropped 11 percent last year despite record orders for its fuel-saving and safety technologies. Read More »
GM pledges $7.3 billion investment in S. Korea unit
General Motors said it would invest $7.3 billion in its South Korean unit over the next five years -- an amount which will likely help relieve concerns that the U.S. automaker was set to reduce its presence in the country. Read More »
Zetsche aims to lift Mercedes' China sales 50% by 2015
Daimler CEO Dieter Zetsche has vowed to raise the Mercedes brand's China sales 50 percent by 2015 after the automaker's deliveries last year rose only 2 percent to 196,211 units. Read More »
Bosch seeks to boost common-parts sales to Japanese carmakers
Bosch is seeking to boost its business with Japanese carmakers and take advantage of their plans to increase the number of common parts across models. Read More »
Former Fiat advisers found guilty of misleading market
Two former Fiat advisers have been handed suspended jail sentences and fines by an Italian appeals court for misleading the market in a 2005 stock transaction that secured the Agnelli family's control of the carmaker. Read More »
Mazda expects the CX-5 to help boost Europe sales by 15%
Mazda expects to boost European sales by 15 percent after better-than-expected sales of its CX-5 crossover, said Jeff Guyton, Mazda's Europe chief. Read More »
