Headlines for Wednesday, April 24, 2013

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VW keeps targets after first-quarter profit falls 26%

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. Read More »

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Daimler plans 300 million euro expansion in Romania

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. Read More »

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Mitsubishi pinpoints lithium ion battery glitch

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. Read More »

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

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. Read More »

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Renault Q1 revenue falls 12% on weak Europe

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. Read More »

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GM will invest 230 million euros to expand Opel test facilities

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. Read More »

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PSA says Q1 revenue fell 6.5% on European slump

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. Read More »

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Ford profit rises despite $462 million Europe loss

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. Read More »

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

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. Read More »

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

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. Read More »

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Gentex earnings drop 2% in first quarter

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. Read More »

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LUCA CIFERRI:

Why even a weak China is good news for European automakers

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. Read More »

 
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Nick Gibbs
12:01 am U.S. ET | Dec. 12 2014

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A rare tour of Nissan's UK battery plant demonstrated how tricky it is to build the product. ...
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Why loyalty leads to fewer dealership visits

Luca Ciferri
12:01 am U.S. ET | Dec. 11 2014

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A customer visited a dealership an average of six times in the UK before completing a purchase in 1994. That number dropped to 1. ...
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BMW's manufacturing arm also produces future leaders

Luca Ciferri
6:44 am U.S. ET | Dec. 9 2014

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BMW's manufacturing arm not only builds great cars -- it also produces the company's future leaders, as the appointment of Harald Krueger to succeed CEO Norbert Reithofer... ...
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VW's Diess takes pole position to replace Winterkorn

Christiaan Hetzner
6:30 am U.S. ET | Dec. 9 2014

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VW's announcement that it poached BMW development chief Herbert Diess to run its flagship VW brand puts the 56-year-old manager in pole position to succeed Martin Winterkorn.. ...
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Prepare to embrace McLaren's anticipate-and-act tactics

Lindsay Chappell
12:01 am U.S. ET | Dec. 8 2014

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People in the car business are so used to being lectured on how they are doing things wrong -- social media, customer service, what have you -- that it's notable whenever an.. ...
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France is hurting its domestic automakers with diesel policy shift


5:55 am U.S. ET | Dec. 5 2014

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For environmental and public health reasons France is ending a government policy that has long promoted the purchase of diesel cars, but the move will hurt domestic... ...
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FAW bribe scandal should be wake-up call for Beijing

Yang Jian
12:01 am U.S. ET | Nov. 28 2014

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Allegations of rampant bribery at FAW-VW should provide an urgent wake-up call to Beijing to abandon the country's JV rule for foreign automakers. ...
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Why Audi over-engineered its fuel cell

Luca Ciferri
12:01 am U.S. ET | Nov. 28 2014

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Audi r&d boss Ulrich Hackenberg provided a concise answer when asked why the carmaker's fuel cell al ...
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How to get the U.S. into diesels

Douglas A. Bolduc
8:07 am U.S. ET | Nov. 28 2014

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European automakers and suppliers have been trying for years to get U.S. drivers excited about diesels. Experience has proved that a test drive can be a deal-maker. ...
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Michelin gains from homegrown distrust in China

Nick Gibbs
6:22 am U.S. ET | Nov. 26 2014

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European sales of cheap Chinese tires are growing fast, but in China suppliers such as Michelin are winning customers who don't trust homegrown tire makers. ...
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Russian auto market decline slows in November
Russian car sales fell 1 percent in November compared with 10 percent the month before as a state sc ...
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Western Europe car sales lifted by UK as France, Germany falter
Western Europe new-car sales rose 1 percent in November as strong demand in the UK and Spain helped ...
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Auto sector takes hit in Q3
Automakers and suppliers were hit hard in the third quarter while car retailers continued to make gains, according to the Automotive News Europe/PwC shareholder value.. ...
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Europe's auto recovery continues without France
Western European new-car sales rose 6 percent in October as demand picked up in all major markets ex ...
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Western European car sales rise 6% in September
Western European car sales rose 6 percent in September, according to forecaster LMC Automotive. ...
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Germany joins France, Italy in reporting car-sales rebound in September
Germany joined France and Italy in reporting a rebound in new-car registrations last month after poo ...
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Auto sector faltered in Q2
European automakers, suppliers and retailers experienced mixed fortunes in the second quarter of 2014, as measured by the Automotive News Europe/PricewaterhouseCoopers. ...
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Western European car sales extend mixed recovery
Western European car sales rose 1 percent in August, the 12th consecutive monthly gain, as faltering ...
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German, French and Italian car sales fall in August
New-car sales in Germany, France and Italy all fell slightly in August, a seasonally weak vacation m ...
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Spanish car sales rise 14% in August
Spain's new-car sales rose 14 percent to 45,355 in August, the twelfth straight month of increases, ...
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Bosch's automotive head quits to become CEO of Mahle
The head of Bosch's automotive division, Wolf-Henning Scheider, has quit the world's top-ranked supp ...
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Ford-Getrag JV names new COO
Getrag Ford Transmissions, a joint venture between the U.S. automaker and the German supplier, has named Sue Slaughter as its chief operating officer. ...
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VW hires BMW exec Diess to lead core car brand
VW Group has appointed BMW development chief Herbert Diess to its management board. ...
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BMW names Krueger next CEO, Reithofer new chairman
BMW CEO Norbert Reithofer will step down in May, one year early, and hand over his post to productio ...
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VW names veteran exec Schmall as components chief
VW named Thomas Schmall as the new core brand board member responsible for components – a key ...
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Daimler appoints journalist to ethics board
Daimler has appointed the former editor-in-chief of the German news agency dpa, Wilm Herlyn, as a me ...
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Opel names new engineering chief
Opel named Charlie Klein as its new engineering chief, promoting the executive from his current post ...
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GM shuffles top execs for quality, purchasing, powertrain
GM said Grace Lieblein will replace Alicia Boler-Davis as head of global quality as the company caps a year of record recalls. ...
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PSA moves Xavier Peugeot to Citroen, names new Peugeot product chief
PSA/Peugeot-Citroen named Xavier Peugeot as product planning chief of Citroen. ...
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Faurecia promotes seating chief Koller to No. 2 role
Faurecia promoted its automotive seating boss, Patrick Koller, to the role of chief operating office ...
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Audi boss calls A3 e-tron the 'perfect' EV
Audi CEO Rupert Stadler calls the A3 Sportback e-tron the “perfect electric vehicle for every ...
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Mercedes pushes S-class plug-in's zip
Mercedes-Benz's marketing plan for the new S-class plug-in hybrid aims to show prospective buyers th ...
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Lexus readies hybrid-only BMW X5, Mercedes M class rival
Lexus is counting on the NX hybrid to help it stand out against Europe's top-selling premium large c ...
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VW says Golf GTE plug-in hybrid offers the 'best of both worlds'
Volkswagen says its Golf GTE plug-in hybrid offers eco-friendly buyers the “best of both world ...
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Jeep pushes Renegade's off-road skills
Jeep says its Renegade is a true off-roader and is positioning the model at the higher end of the ho ...
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Mini 5-door may become best-seller
The Mini five-door variant targets customers who need more space. ...
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Nissan touts Pulsar's roominess
Nissan believes the sizeable rear-seat space of its new Pulsar compact hatchback will be the car's b ...
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Audi seeks to increase TT's market share
Audi expects its new TT to boost its market share even though demand for small sports cars is shrink ...
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BMW's taboo-breaker, the 2-series Active Tourer
BMW's 2-series Active Tourer breaks new ground for the automaker as the brand's first minivan and fi ...
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Renault's radical new Twingo could become segment leader
Renault's new Twingo is radically different than the two previous generations of the minicar with a ...
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BWI Group gives Lamborghini Huracan added stability
BWI Group provides added stability to the new Lamborghini Huracan with its optional magneto-rheologi ...
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Magna, Haartz team up on Opel Cascada roof
Magna International and Haartz Corp. teamed up to supply the new Opel Cascada's folding softtop roof ...
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Marelli helps optimize Alfa 4C's transmission
Magneti Marelli supplies the Alfa Romeo 4C roadster with the technology that helps optimize the perf ...
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BorgWarner helps boost power in BMW 2 series
BorgWarner-sourced turbochargers for the new BMW 2 series help boost power by as much as 13 hp to 18 ...
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Jaguar F-Type relies on Stadco's aluminum skin
Stadco supplies the vast majority of the aluminum outer structure for the new Jaguar F-Type, includi ...
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Magna Powertrain helps Mercedes GLA stay on track
Magna Powertrain supplies the all-wheel-drive system for the new Mercedes-Benz GLA. ...
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