Headlines for Wednesday, April 24, 2013

Quick search (past 7 days):
- or -
Choose a date:


Use the form on the right to select a specific day >>

VW keeps targets after first-quarter profit falls 26%

April 24, 2013 12:04 CET
Volkswagen is sticking to its goal to match last year's record operating profit and vehicle sales after first-quarter profit dropped 26 percent on falling demand in Germany and heavy spending on new vehicles.

Daimler plans 300 million euro expansion in Romania

April 24, 2013 15:08 CET
Daimler will invest more than 300 million euros to build a factory in Romania to assemble transmissions for its Mercedes-Benz brand after reaching full capacity at its main powertrain plant near Stuttgart.

Mitsubishi pinpoints lithium ion battery glitch

April 24, 2013 20:43 CET
Mitsubishi has pinpointed the cause of the lithium ion battery glitch that forced it to halt production of the Outlander plug-in hybrid crossover and most i electric cars. Mitsubishi said a small number of the affected i EVs were on the road in Europe and the United States.

Fiat weighs New York listing following merger with Chrysler, report says

April 24, 2013 18:19 CET
Fiat may select New York as the primary exchange for its stock after a planned merger with Chrysler Group, sources said. The move would be highly political and symbolic for debt-ridden Italy as it struggles to emerge from a cycle of recessions.

Renault Q1 revenue falls 12% on weak Europe

April 24, 2013 18:19 CET
Renault said first-quarter revenue fell 11.8 percent on a 4.7 percent decline in global deliveries but the company reiterated its goal of achieving a positive automotive operating margin for the full year.

GM will invest 230 million euros to expand Opel test facilities

April 24, 2013 13:19 CET
General Motors will invest 230 million euros ($299 million) on test facilities for Opel as part of its effort to break even in Europe by 2015.

PSA says Q1 revenue fell 6.5% on European slump

April 24, 2013 08:34 CET
PSA/Peugeot-Citroen said first-quarter revenue fell 6.5 percent as its vehicle sales abroad failed to offset a recession in Europe. PSA said it will implement additional measures to attain its goal of breaking even next year if the European market continues to falter.

Ford profit rises despite $462 million Europe loss

April 24, 2013 13:02 CET
Ford today said its first-quarter net income rose 15 percent from a year earlier despite a $462 million operating lose in Europe. Ford reaffirmed its forecast for a 2013 loss in Europe of about $2 billion. In 2012, the loss was $1.75 billion.

Daimler lowers 2013 profit goal after first-quarter earnings drop 56%

April 24, 2013 08:19 CET
Daimler cut its 2013 profit forecast after its quarterly earnings fell 56 percent, burdened by Europe's slump and weaker Mercedes-Benz sales in China.

Henrik Fisker: 'Confluence of events' led to company's downfall

April 24, 2013 06:01 CET
Henrik Fisker's testimony before the U.S. Congress today will paint the automaker he founded as a victim of "a confluence of events" and as an enterprise that is capable of being saved.

Gentex earnings drop 2% in first quarter

April 24, 2013 06:01 CET
Gentex, a U.S. supplier of automotive rearview mirrors and related parts, reported a 2 percent decline in net profits for the first quarter, citing a decrease in vehicle production in Japan, Korea and Europe.

LUCA CIFERRI

Why even a weak China is good news for European automakers

12:01 am U.S. ET | April 24, 2013
The Shanghai auto show proved once again that China is the promised land for automakers, particularly Europeans bracing for a sixth straight year of declining car sales in their home region.

 
Newsletters & Alerts
  • Sample
  • Sample
  • Sample
  • Sample
image
Western European car sales rise 6% on Spain, Italy rebound
Western European car sales rose nearly 6 percent in January as the southern markets of Spain and Ita ...
 Read More ›
image
Jeep, Smart, Jaguar benefit most from Europe's forecast-beating 2015 sales
Jeep, Smart and Jaguar were the biggest sales winners last year in Europe, where overall vehicle sal ...
 Read More ›
image
Growth in car sales in key European markets 'encouraging' in January
New-car sales increased in key European markets in January including 3 percent growth in Germany and ...
 Read More ›
image
French automakers lose ground to rebounding VW
French new-car registrations increased 3. ...
 Read More ›
image
European car-sales growth forecast to slow to 2% in 2016
European car sales likely will rise 2 percent in 2016, down from 9 percent last year, as northern ma ...
 Read More ›
image
European sales growth will slow this year, say Daimler, Ford, Volvo CEOs
European automotive executives expect the region's car sales to grow for a third straight year in 20 ...
 Read More ›
image
VW trails rivals as Europe sales rise 16% in December
New-car sales in Europe rose 16 percent in December in the 28th consecutive month of growth with For ...
 Read More ›
image
Western automakers hit hard as Russia car sales fell 36% in 2015
Russia's car sales plunged by 36 percent in 2015 in a disastrous year for Western automakers with op ...
 Read More ›
image
VW brand sales fall 8% in Dec., dragging down group result
Global sales of VW brand cars fell by 7.9 percent in December as the automaker's emissions crisis an ...
 Read More ›
image
Europe must look south for car sales growth this year
Western European car sales rose nearly 9 percent last year but the region will likely need a continu ...
 Read More ›
image
Former Opel CEO Demant retires after VW role
Volkswagen Group's international projects chief, Hans Demant, has retired, ending a long career that ...
 Read More ›
image
PSA appoints former Yahoo exec as chief digital officer
PSA named former Yahoo executive Brigitte Cantaloube as the automaker's first chief digital officer ...
 Read More ›
image
Mercedes promotes UK sales boss to U.S. role
Mercedes-Benz named its UK sales boss, Adam Chamberlain, as head of sales in the U.S. ...
 Read More ›
image
VW picks ex-BMW manager to head core brand in North America
Volkswagen has picked ex-BMW manager Hinrich Woebcken to run the North American business of its core ...
 Read More ›
image
VW motorsport director Capito moves to McLaren
Volkswagen motorsport director Jost Capito has been appointed CEO of McLaren Racing. ...
 Read More ›
image
Nissan names new Europe marketing chief
Nissan has promoted company veteran Jean-Pierre Diernaz to its new Europe marketing head. ...
 Read More ›
image
Hyundai hires former Lamborghini exec to shape strategy at luxury Genesis brand
Hyundai has hired former Lamborghini executive Manfred Fitzgerald to shape strategy at its new Genes ...
 Read More ›
image
Porsche names new production chief
Porsche has named VW Group veteran Albrecht Reimold as new production boss to replace Oliver Blume w ...
 Read More ›
image
Porsche names new production chief
Porsche has named VW Group veteran Albrecht Reimold as new production boss to replace Oliver Blume w ...
 Read More ›
image
Renault names former EV boss as sales and marketing chief
Renault named its former EV program boss, Thierry Koskas, as the company's sales and marketing chief ...
 Read More ›
image
Hyundai Tucson gets big boost from Europe's SUV boom
Hyundai expects the Tucson to change perceptions of the brand in Europe, thanks to its bolder design ...
 Read More ›
image
Product launches follow a faster cadence
New model launches are getting faster, more frequent and less certain. They also might be a lot fart ...
 Read More ›
image
Opel boosts connectivity offer in new Karl
Opel's new entry-level model, the Karl, is the brand's cheapest car but it now offers advanced conne ...
 Read More ›
image
Infiniti's 'big bang' starts with Q30
Infiniti expects the Q30 hatchback and its sibling model, the QX30 crossover, to give the brand a hu ...
 Read More ›
image
Renault packs Megane with high-tech upgrades
Renault has added upscale features to its new Megane to make the hatchback a better challenger in Eu ...
 Read More ›
image
Mini tweaks Clubman, moves it up a class
Mini hopes the latest Clubman's four-door body style instead of a three-and-a-half door configuratio ...
 Read More ›
image
Renault thinks big, green with Talisman flagship
Renault hopes that its new Talisman midsize car will win customers because of its size, efficient po ...
 Read More ›
image
Opel wants leaner Astra to leap over rivals
Opel hopes to win sales from the Volkswagen Golf as well as compact luxury models such as the BMW 1 ...
 Read More ›
image
Audi sees A4 causing segment shake-up
Audi executives are optimistic the arrival of the new A4 will give the Volkswagen Group subsidiary t ...
 Read More ›
image
Toyota rolls out fuel cell cars, but Europe is not ready yet
Toyota's European rollout of the fuel cell Mirai this month will be limited to the few countries in ...
 Read More ›
image
Suppliers to the new Jaguar XF
Assembly of the second-generation Jaguar XF began in June 2015 at Jaguar Land Rover's factory in Cas ...
 Read More ›
image
Suppliers to the new Audi Q7
Assembly of the second-generation Audi Q7 began in February 2015 at the German automaker's factory i ...
 Read More ›
image
Suppliers to the new VW Touran
Assembly of the third-generation Volkswagen Touran began in June 2015 at the German automaker's fact ...
 Read More ›
image
Suppliers to the new BMW 7 series
Assembly of the sixth-generation BMW 7 series began in July 2015 at the automaker's factory in Dingo ...
 Read More ›
image
Magna makes new VW Passat lighter
Magna shaved weight off of the body stampings it provides to the eighth-generation VW Passat, which ...
 Read More ›
image
GKN helps slash CO2 in new Volvo XC90
GKN Automotive formed a partnership with Volvo to develop a so-called eAxle for the plug-in hybrid v ...
 Read More ›
image
BorgWarner, ZF, GKN have key parts in new Land Rover Discovery Sport
BorgWarner, ZF and GKN Driveline play keys roles in helping to reduce CO2 in the new Land Rover Disc ...
 Read More ›