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Europe
| Fiat eyes Mexico to serve North and South America >> |
German Newsletter
| Bild newspaper, ADAC, criticize proposed levy on older cars >> |
| GM missing out on compact-SUV boom in Europe >> |
| Opel targets 10 percent-plus share for Germany >> |
Asia
China
Daimler will open office in Iraq this yearDaimler will open an office in Baghdad by the end of the year. Ursula Mertzig-Stein, a Daimler spokeswoman, said the company sees strong potential in the country for its truck division. “We think the greatest demand will be for our commercial vehicles there,” Mertzig-Stein said. She declined to give further details. [REG] May 8 12:09 CET |
Bosch worries about 2009 after U.S. consumer slump
U.S. consumers worried about a recession will take a painful toll this year on Bosch Group, a German manufacturer of a wide range of items from car parts to washing machines and power tools. "The absolute slump in the consumer climate indicates that the second quarter in the U.S. will indeed be very weak," CEO Franz Fehrenbach told its annual news conference on Thursday. [REG] 9:45 am U.S. ET | May 8
Toyota to post record operating profit todayJapan's Toyota Motor, which is set to replace General Motors as the world's number one automaker this year, is expected to report today a record operating profit for the fiscal year ended March 31, lifted by brisk sales to emerging markets. [REG] May 8 08:38 CET |
Fiat sets up central sourcing center in IndiaFiat is setting up a group purchasing office in India, the Italian carmaker said today, as part of its strategy to cut costs by buying more components from low-cost centers such as India and China. Fiat, which has a joint venture with India's Tata Motors for manufacture and distribution of cars, engines and commercial vehicles, said the move would help ensure greater competitiveness and better margins. [REG] May 8 09:35 CET |
Faurecia to expand Czech operationsFrench supplier Faurecia is expanding its operations in the Czech Republic to keep up with booming demand from European automakers in central Europe. Faurecia has announced plans to open a new exhaust system plant in early-2009 in the eastern Czech city of Karvina. [REG] May 7 14:40 CET |
John Elkann to be named president of IfilJohn Elkann, the grandson of legendary Fiat boss Giovanni Agnelli, will become president next Tuesday of Ifil Investments, the Agnelli family's holding company, current Ifil president Gianluigi Gabetti told the Corriere della Sera and La Stampa today. [REG] May 7 15:01 CET |
Jointly made PSA engines for BMW brandsBMW will use the four-cylinder engines it has jointly developed with French carmaker PSA in BMW brand cars, chief executive Norbert Reithofer said in a pre-release of his interview with Frankfurter Allgemeine Zeitung. He said the future generation of the BMW 1 Series will be fitted with these four-cylinder engines. [REG] May 7 07:46 CET |
Rieter CEO says company no takeover targetRieter Holding CEO Hartmut Reuter said he does not expect the company to become a takeover target following its profit warning late last night, and subsequent plunge on the Swiss Market on Tuesday. [REG] May 7 08:02 CET |
Audi CEO signals plans to build U.S. plantVolkswagen's premium brand Audi stands to benefit "tremendously" from a U.S. production plant as the carmaker struggles to cope with stiffer external headwinds including the strong euro. "There are no signs right now of this situation letting up," CEO Rupert Stadler said in remarks to be delivered to shareholders at Audi's annual general meeting today. [REG] May 7 10:15 CET | UPDATED: 05/07/2008 10:54 CET |
Dupont to spend millions expandingDupont said Tuesday it is investing about $150 million (96.9 million euros) to expand and upgrade its plants to meet growing demand from solar cell, packaging and automotive customers. The chemical company said is expanding and upgrading facilities in Europe, the U.S. and Asia to meet strong demand. [REG] May 7 08:09 CET |
Pardus to seek 2 more Valeo board seatsA key official of investment fund Pardus said it will seek approval from Valeo shareholders for two more board seats, adding that the fund doesn't want to declare war on the auto partsmaker but feels insulted by Valeo CEO Thierry Morin. [REG] May 7 10:27 CET |
Absurd logic in U.S., cowardice in Berlin on the environment"Americans can always be counted on to do the right thing ... after they have exhausted all other possibilities." Winston Churchill, who said that some 60 years ago, apparently foresaw the Bush administration's new fuel economy rules. The mandate shows that the United States has "exhausted all other possibilities." Guido Reinking is editor of Automobilwoche. [REG] 12:01 am U.S. ET | May 7 |
Volkswagen's small platform gets AWDVW's small car architecture, which today underpins the VW Polo, Seat Ibiza and Skoda Fabia, will offer the possibility of all-wheel drive for the next generation of VW group small cars. “The new small-car platform architecture includes an all-wheel drive option,” Erich Schmitt, president of Seat said. “Seat won't offer awd for its new Ibiza, but other group models could use it.” [REG] May 6 15:55 CET |
Chinese drivers get away with speedingBEIJING (Reuters) -- Speeding drivers in south China are getting clear away thanks to machines which switch the numbers on their licence plates in seconds, state media said today. [REG] May 6 06:01 CET |
