WAP ANE Breaking

VW profit falls in second-quarter, raising pressure to cut costs

July 31, 2014 11:38 CET
Volkswagen said operating profit declined 3.1 percent in the second quarter as emerging-market volatility and a plunge in earnings at its core passenger-car division weighed on earnings.... Read More »

 

Fiat investors likely to approve Chrysler merger

July 31, 2014 06:01 CET
Fiat shareholders will likely approve the automaker's merger with Chrysler when they meet in Italy for the last time on Friday. Industry watchers expect Fiat to win the two-thirds majority vote needed for a merger.... Read More »

 

Daimler will invest 1.5 billion euros in its biggest German plant

July 31, 2014 10:51 CET
Daimler plans a 1.5 billion euros investment its Mercedes plant in Sindelfingen, Germany, after employees agreed a labor deal that the company says will save 100 million euros in costs.... Read More »

 

Continental raises 2014 profit forecast on lower costs, auto demand

July 31, 2014 11:26 CET
Continental raised its 2014 profit forecast for the second time this year to 11 percent of sales from 10.5 percent, after lower production costs and improving auto demand helped boost quarterly earnings.... Read More »

 

Marchionne says he is open to new alliances but won't sell Alfa Romeo

July 30, 2014 17:10 CET
Fiat CEO Sergio Marchionne reiterated that Alfa Romeo will not be sold but said he remains open to forming alliances with other carmakers if it helped cut costs.... Read More »

 

Audi said to plan efficiency push to lower costs

July 30, 2014 20:45 CET
Audi CEO Rupert Stadler plans steps to boost efficiency and lower costs on all operating levels, a source said, as the luxury carmaker struggles to raise output and profit margins.... Read More »

 

Fiat profit falls on weak North, South America performance; Europe loss reduced

July 30, 2014 11:33 CET
Fiat reported a fall in second-quarter operating profit as a better performance from its luxury brands and its Asia and European operations failed to offset weak Latin American and disappointing North American results.... Read More »

 

VW closes gap on Toyota's global lead

July 30, 2014 08:02 CET
Volkswagen is closing in on Toyota as the global leader in vehicle sales, with a rapid expansion drive in China while Toyota curbs growth to focus on shoring up quality.... Read More »

 

PSA's car division back in profit as new CEO makes mark

July 30, 2014 08:27 CET
PSA/Peugeot-Citroen narrowed its first-half net loss and posted the first positive contribution from its core auto division in three years, as the carmaker's recovery plan began to show early results.... Read More »

 

VW suffers production woes adjusting to MQB platform, report says

July 29, 2014 16:38 CET
Volkswagen's move to add extra German production shifts for the Golf, which the company has attributed to strong demand, is also due to problems adjusting to its new MQB platform, company sources said.... Read More »

 

Daimler reaches labor deal on overhauling Mercedes' German sales network

July 29, 2014 06:01 CET
Daimler has reached a labor agreement that will allow it to sell some Mercedes dealerships in Germany as part of a wider plan to overhaul its sales network in the market.... Read More »

 

Italy mulls incentives to boost 'fragile' car market

July 29, 2014 13:32 CET
The Italian government is considering offering tax incentives to encourage new car purchases by both private and public sector owners, Transport Minister Maurizio Lupi said.... Read More »

 

Faurecia increases earnings target

July 29, 2014 11:39 CET
Faurecia raised its 2014 earnings forecast after first-half profit jumped 21 percent on strong demand in Asia and higher market share in its home region.... Read More »

 

AvtoVAZ CEO Andersson aims to restore pride to Lada

July 29, 2014 13:12 CET
Bo Andersson, a former top purchasing manager at GM, aims to turn around the struggling Russian automaker AvtoVAZ through cost reductions and launching new Lada cars that can compete with Western competitors.... Read More »

 

2014 PARIS AUTO SHOW

Skoda bets on sporty design to boost Fabia sales

July 29, 2014 06:01 CET
Skoda has given its Fabia subcompact a more dynamic, sharper and sportier design. The latest-generation Fabia will debut at the Paris auto show in October.... Read More »

 

Renault first-half profit surges 25% on cost cuts

July 29, 2014 08:28 CET
Renault reported a 25 percent jump in first-half operating profit thanks to cost-cutting even as currency headwinds and mounting inventories hurt sales and cash flow.... Read More »

 

Fiat investors advised to vote for Chrysler merger

July 28, 2014 11:26 CET
Proxy adviser Glass Lewis has recommended that Fiat investors vote for a merger with Chrysler despite concerns that the voting rights of Exor, Fiat's main shareholder, could potentially increase with a deal.... Read More »

 

Audi plans plug-in diesel hybrid

July 27, 2014 06:01 CET
Audi aims to beat German rivals Mercedes and BMW to launch a plug-in hybrid diesel powered car. Audi will present a plug-in hybrid diesel drivetrain next year, the brand's technical development chief, Ulrich Hackenberg, said.... Read More »

 

Aston Martin revives Lagonda badge for new sedan

July 25, 2014 23:05 CET
Aston Martin will revive its Lagonda nameplate with a limited-edition sedan designed for customers in the Middle East.... Read More »

 

Volkswagen marketing chief quits

July 25, 2014 22:20 CET
Volkswagen's global marketing head, Simon Thomas, will leave the post after about a year in the job. Thomas, a former top Nissan Europe executive, said he is leaving VW at his own request.... Read More »

 

VW may open planning center in Brazil to revive sales

July 25, 2014 10:07 CET
VW Group is mulling a planning center in Brazil. It would be part of the automaker's 3.6 billion euro ($4.85 billion) investment in new models, plants and technology for the country through 2018, sources said.... Read More »

 

Porsche importer buys former F1 circuit in South Africa

July 25, 2014 14:21 CET
Porsche South Africa has bought the 72-hectare Kyalami racetrack, which hosted F1 races between 1967 and 1993, for 205 million rand (14.5 million euro) at an auction.... Read More »

 

Citroen DS upscale line off to a slow start as a stand-alone brand

July 25, 2014 06:01 CET
Vehicle sales at Citroen's upscale DS line, which became a stand-alone brand on June 1, fell during the first half, hit by an aging product lineup and tougher competition from refreshed rivals such as Mini.... Read More »

 

Valeo raises 2014 profit forecast

July 25, 2014 06:01 CET
French car parts supplier Valeo has raised its full-year earnings forecast following a 21 percent rise in first-half profit, due mainly to overseas expansion and increased demand for fuel-saving technologies.... Read More »

 

Audi, BMW and Mercedes pressure Ford, GM as UK market booms

July 25, 2014 06:01 CET
Germany's premium automakers are benefiting most from the UK car market boom. Audi, BMW and Mercedes are winning customers from mass-market brands such as Ford and Vauxhall.... Read More »

 

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