GERMAN AUTO INDUSTRY NEWS
Industry news and analysis on Europe's largest automotive market, delivered fortnightly.
|
Other Markets
| Fiat eyes Mexico to serve North and South America >> |
Europe
| Fiat eyes Mexico to serve North and South America >> |
Asia
China
Opel targets 10 percent-plus share for Germany
RUESSELSHEIM - Opel aims to boost its market share in Germany to 10 percent or higher over the next few years with a lift from parent General Motors' plan to invest 9 billion euros ($13.9 billion) in the brand. [$] 11:44 am U.S. ET | May 5
Higher material costs crimp Mahle's 2007 profit
STUTTGART - Mahle said its pretax profit last year rose 4.6 percent to 308.1 million euros, or about $476 million, as higher raw-materials prices had a negative impact on earnings growth. [$] 11:49 am U.S. ET | May 5
BMW finds buyouts are a hard sell
MUNICH - BMW's effort to trim its permanent workforce through voluntary buyouts is proving to be a hard sell. Union and works council officials describe employee response to the plan as "sluggish" at best. In contrast, BMW finance chief Michael Ganal says the automaker has made "good progress" in eliminating jobs. [$] 11:53 am U.S. ET | May 5
Porsche executives join Audi board
MUNICH - Two Porsche executives -- CEO Wendelin Wiedeking and finance chief Holger Haerter -- will join Audi's supervisory board on Wednesday, May 7. [$] 12:01 pm U.S. ET | May 5
Mercedes, BMW launch new incentives
Mercedes-Benz and BMW hope to enliven their sluggish new-car business in Germany in the second quarter by spreading some bonus cash around. [$] 12:05 pm U.S. ET | May 5
QUESTION & ANSWER
VDA president wants quick action on CO2
Matthias Wissmann, president of the German auto industry association, the VDA, says the debate over CO2 emissions and how to tax them has gone on long enough. [$] 12:08 pm U.S. ET | May 5
VW explores new ways to reward employees
HAMBURG - Volkswagen is considering new ways to compensate employees. [$] 12:13 pm U.S. ET | May 5
Metz discussing Georg von Opel takeover
BERLIN- The venerable dealer group Georg von Opel (GvO) could soon be part of MAG Metz, a Berlin holding company. An executive with the holding company confirmed to
MAN works council backs VW against Porsche
The works council of truckmaker MAN is supporting Volkswagen in its fight over a co-management agreement for the future works council of Porsche Automobil Holding SE, the umbrella company that controls both Porsche and VW. [$] 12:56 pm U.S. ET | May 5
Pressure on Porsche, Wulff to make peace
Pressure is growing on Lower Saxony Prime Minister Christian Wulff and Porsche to end their feud over Volkswagen before the automaker's annual meeting on Thursday. Investor representatives are pressing for a compromise behind the scenes, Automobilwoche has learned. [$] 10:35 am U.S. ET | April 21
Future production at Opel's Ruesselsheim plant still uncertain
Negotiations over a contract to secure work for Opel's main plant at Ruesselsheim are reaching a decisive phase. "There are still details remaining," confirmed a General Motors Europe executive. For example, the talks haven't clarified which models will be built at Ruesselsheim besides three versions of the Opel Insignia. [$] 10:35 am U.S. ET | April 21
VW nears decision on U.S. factory
Volkswagen's executive and supervisory boards are on the brink of determining the location for a factory in North America. "There are only very few options still in play," a top VW executive told Automobilwoche. "And it's foreseeable that the U.S. will be selected." Earlier, VW CEO Martin Winterkorn had cited Mexico and Canada as possible plant locations. [$] 10:35 am U.S. ET | April 21
Wiedeking crowned as top earner
Porsche doesn't reveal how much CEO Wendelin Wiedeking earns each year but experts say it's at least 60 million euros. One thing is clear: The entire management board pocketed 112.7 million euros for 2007. More than half probably went to Wiedeking. [$] 10:35 am U.S. ET | April 21
Opel Insignia faces tough taskOpel has to deal with an array of issues relating to the Insignia, its replacement for the Vectra. For one thing, the Insignia must recapture sales for Opel in the shrinking upper-medium segment. [$] 10:35 am U.S. ET | April 21 |
New Mondeo suffers from slow startThe new Ford Mondeo has had trouble gaining traction in Germany. Introduced last June, the new Mondeo's sales results are lower than those of the car it replaced. Through three months, Ford has sold 7,367 Mondeos compared with 7,581 during the same period last year. [$] 10:35 am U.S. ET | April 21 |
VW takes advertising crown as auto sector slows spending
The auto industry paid about 432.6 million euros for conventional advertising in the first quarter of 2008, down significantly from the year-ago period. These findings come from Nielsen Media Research of Hamburg, which evaluated the sector's spending for Automobilwoche [$] 10:35 am U.S. ET | April 21
BMW predicts boost in profit margin
German BMW dealers expect to nearly double their profit margins this year following a tough 2007. Returns are forecast to climb to 1.5 percent after slipping to 0.8 percent last year. Car sales in Germany were hit hard in 2007 by an increase in the sales tax to 19 percent from 16 percent. [$] 10:35 am U.S. ET | April 21
Smart ForTwo to reach China in 2009
Daimler will sell its Smart ForTwo to China starting in mid-2009. "I'm sure that it will delight many lifestyle-oriented customers in China's large cities within a short time due to its unique concept," CEO Dieter Zetsche said at the Beijing auto show. [$] 10:35 am U.S. ET | April 21
Museums build strong brandsNowhere is the love for the automobile as visible as it is in sweeping venues like the Techno Classica, the world's largest vintage car show in Essen, Germany; in great museums like the Mercedes-Benz Museum in Stuttgart; or in hundreds of private garages of antique car enthusiasts around the world. [$] 12:01 am U.S. ET | April 7 |
