WAP ANE Breaking

BAIC Motor will take stake in Daimler China leasing firm

March 23, 2015 13:50 CET

Chinese automaker BAIC Motor plans to deepen its partnership with Daimler by taking a 35 percent stake in the German automaker's Mercedes-Benz Leasing.... Read More »

PSA may hit operating margin target earlier than planned, CFO says

March 23, 2015 13:15 CET

PSA could reach its main recovery target of achieving a 2 percent operating margin before a 2018 goal, finance chief Jean-Baptiste de Chatillon said. The carmaker's shares today rejoined the benchmark CAC-40 index after a two-and-a-half-year absence.... Read More »

BMW's expansion in N. America will counter cooling China

March 21, 2015 06:01 CET

BMW's decision to add a car plant in Mexico was motivated by a desire to reduce its reliance on the cooling Chinese market, CEO Norbert Reithofer said. BMW plans to build up to 150,000 cars a year at a new factory in Mexico starting in 2019.... Read More »

Jaguar Land Rover starts China recall of Evoque after TV report on quality issues

March 20, 2015 11:59 CET

Jaguar Land Rover has started to recall Range Rover Evoque SUVs in China four days after a report on state-run television said the company didn't handle quality problems properly.... Read More »

Audi has no plans for rival to BMW's minivans

March 20, 2015 06:01 CET

Audi development boss Ulrich Hackenberg says the automaker does not need minivans to reach its target of 2 million annual sales -- in contrast to BMW, which has launched two compact minivans to help attract family buyers.... Read More »

SsangYong suspends exports to Russia on weak ruble

March 19, 2015 11:55 CET

SsangYong has suspended exports to Russia as the plunging ruble hits demand in the automaker's biggest export market. In the first two months, the automaker's sales fell 61 percent in Russia.... Read More »

Daimler will upgrade key German plant for fuel-efficient engines, fuel cells

March 18, 2015 22:23 CET

Daimler will invest billions of euros to modernize its powertrain factory in Untertuerkheim, near Stuttgart. The plant will become a center of competence for fuel-efficient engines, hybrid drivertrains and the production of fuel cell systems.... Read More »

BMW CEO signals core brand may lose luxury lead

March 18, 2015 14:14 CET

BMW may surrender its position as the No. 1 global premium brand by unit sales to rival Audi, although it will retain the title if sales of Mini are included, CEO Norbert Reithofer said. A push by competitors such as Audi into areas of subcompact cars, a segment where BMW does not offer a vehicle, is making it harder to retain the title, Reithofer said.... Read More »

BMW tones down profit-growth forecast as investment costs remain high

March 18, 2015 12:16 CET

BMW said it expects sales volume and profit will slow this year because of aging models and higher investment costs for new technologies.... Read More »

Porsche SE faces payment of 428 million euros in tax arrears

March 18, 2015 12:10 CET

Porsche SE is facing the payment of 428 million euros ($454 million) in tax arrears this year dating back to the period when the company tried to take over Volkswagen. The payment may shrink Porsche SE's net liquidity and cap dividend payouts, finance chief Hans Dieter Poetsch said.... Read More »

VW Chairman Piech, Porsche family on witness list in hedge-fund lawsuit

March 18, 2015 11:35 CET

VW Group Chairman Ferdinand Piech and Porsche SE Chairman Wolfgang Porsche are among 21 people who will be asked to testify by a German court in a 1.8 billion euro lawsuit filed by two U.S. hedge funds.... Read More »

Mini Superleggera roadster still under discussion, 'mini Mini' unlikely, top exec says

March 18, 2015 06:01 CET

BMW has not approved a roadster based on the Superleggera concept for its Mini brand nor a “mini Mini” that would be built with Toyota, Mini's top executive, Peter Schwarzenbauer, said.... Read More »

AUTOMOTIVE NEWS EUROPE E-MAGAZINE

Spain's Gestamp surged when main rivals slumped

March 18, 2015 06:01 CET

Spanish supplier Gestamp will continue along the growth path it started down when the auto industry was hit by the last financial crisis when it went on an expansion spree that boosted its operations in markets as far apart as Germany and China.... Read More »

BMW's sales crown scrutinized as profits shrink, rivals catch up

March 17, 2015 15:58 CET

BMW's record car sales have meant big profits that have funded incentives and investment in new technologies. But competitors are catching up and profits are shrinking. Some industry observers are wondering if the "sales grow, profits look after themselves" formula still works.... Read More »

FCA axes Chrysler in UK to focus on Jeep

March 17, 2015 18:35 CET

Fiat Chrysler Automobiles is ending sales of Chrysler cars in the UK to focus on its Jeep brand. FCA sells the U.S.-built Chrysler 300C sedan and Voyager large minivan in the UK, alongside the Lancia Delta compact and Ypsilon subcompact cars, which are both rebadged as Chryslers.... Read More »

All new EU cars will need emergency call technology from 2018

March 17, 2015 17:09 CET

All new cars sold in the European Union from 2018 will have to be equipped with technology to contact emergency services in the case of an accident.... Read More »

Nissan will suspend Russia production for 16 days on weak sales

March 17, 2015 11:27 CET

Nissan is suspending production at its St. Petersburg plant between March 16 and March 31 due to weak sales in Russia. The automaker's deliveries fell 45 percent in February in an economy weakened by lower oil prices and Western sanctions over the Ukraine crisis.... Read More »

AUTOMOTIVE NEWS EUROPE E-MAGAZINE

Premium brands push volume rivals from profit-rich niches

March 17, 2015 06:01 CET

Premium automakers continued to push volume rivals out of profit-rich niches such as coupes and convertibles last year, leading some automakers to begin cutting models with those body styles from their lineups.... Read More »

AUTOMOTIVE NEWS EUROPE E-MAGAZINE

SUV and crossover sales grew 21% in Europe last year

March 17, 2015 06:01 CET

SUVs and crossovers benefited most from Europe's first rise in annual sales since 2007 last year. Combined deliveries of models ranging from the Nissan Qashqai to the BMW X5 increased 21 percent to more than 2.5 million units.... Read More »

Maserati cuts output as demand slows for Ghibli, Quattroporte, union says

March 16, 2015 17:34 CET

Fiat Chrysler Automobiles is cutting Maserati production as demand for the brand's luxury sports cars slows after record sales last year, according to a union at the automaker.... Read More »

Valeo open to acquisitions in growth areas

March 16, 2015 14:08 CET

Valeo is open to acquisitions that could bolster its product offerings in high-growth areas such as fuel efficiency and autonomous driving, CEO Jacques Aschenbroich said.... Read More »

Skoda CEO Vahland urges Czech euro adoption when Greek crisis ebbs

March 16, 2015 21:17 CET

The Czech Republic will benefit from adopting the euro and should join the monetary union after the Greek debt crisis calms down, Skoda CEO Winfried Vahland said. Skoda is the country's largest industrial company and the country's main exporter.... Read More »

Germany holds off on tax breaks to boost sales of electric company cars

March 16, 2015 21:45 CET

Germany's federal government has shelved a plan to boost electric car sales via corporate tax breaks because it could not secure the consent of state governments whose coffers stood to lose revenue.... Read More »

VW, Mercedes, JLR, Nissan targeted by China TV show

March 16, 2015 11:43 CET

Volkswagen, Mercedes and Nissan said they are probing allegations aired by Chinese state TV that they oversold repairs and spare parts to drivers. Media criticism can dent reputations and drag on sales in the world's biggest auto market.... Read More »

Skoda profit jumps 46% in 2014 on record sales

March 16, 2015 14:39 CET

Skoda raised net profit by 46 percent to 665 million euros in 2014 after selling more than 1 million cars for the first time in its history.... Read More »

 
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