Automotive News Europe News Feed http://europe.autonews.com News, blogs and commentary from the leader in European automotive news en-us Wed, 21 Feb 2018 06:00:00 EST Stefan Quandt becomes BMW's most powerful shareholderWed, 21 Feb 2018 04:15:55 ESTStefan Quandt has become BMW's largest single shareholder, giving him a big enough stake to block any potential takeover of the automaker, a regulatory filing showed. Ford aims to set up German bank this year to offset Brexit riskWed, 21 Feb 2018 03:47:38 ESTFord hopes to set up a bank in Germany in the second half after applying for a license in the country as part of its strategy to mitigate any risk from the UK leaving the EU. VW reaches wage agreement with German unionWed, 21 Feb 2018 03:21:55 ESTVW and IG Metall reached a wage agreement for workers in Germany after labor representatives had threatened to cripple production at the automaker to win a 6 percent pay rise instead of 2 percent offered by management. Marchionne collects $36 million stock award, $12 million in base payTue, 20 Feb 2018 11:05:19 ESTFiat Chrysler CEO Sergio Marchionne collected shares valued at about 29 million euros ($35.7 million) for the three-year period ended in 2016. He also earned 9.68 million euros in base compensation and bonuses for 2017. Tesla Model S outsells German luxury flagships in EuropeTue, 20 Feb 2018 00:01:00 ESTGermany's premium brands are under pressure to accelerate their plans for electric cars after Tesla's Model S outsold the luxury flagships of Mercedes, BMW and Audi in Europe. Lexus will debut UX crossover with tail lamp finsTue, 20 Feb 2018 05:09:47 ESTLexus will commit to its belated entry in the hot small crossover segment by debuting its new UX at the Geneva auto show on March 6. Toyota readies cheaper electric motors by halving rare-earth metal useTue, 20 Feb 2018 05:12:46 ESTToyota is readying electric motors that include as much as 50 percent less in rare-earth metals amid concern of a supply crunch as automakers race to expand their EV lineups. Why Aston Martin is mulling risky move into F1Tue, 20 Feb 2018 00:01:00 ESTAston Martin CEO Andy Palmer envisions the automaker entering Formula One as an engine supplier by 2021. Seat's seven-seat SUV will be called the TarracoTue, 20 Feb 2018 06:08:24 ESTSeat said it will call its new seven-seat SUV the Tarraco. The car will be the third model in Seat's SUV lineup after the subcompact Arona and the compact Ateca. Israeli startup takes on Google in rush to process car dataTue, 20 Feb 2018 03:59:56 ESTIsraeli startup Otonomo is taking on giant software companies including Google in the rush to process and monetize the mass of data being produced by today's connected cars. GM offers $2.2 billion debt for equity swap in return for S. Korea's support, report saysTue, 20 Feb 2018 03:16:08 ESTGeneral Motors has offered to convert debt of about $2.2 billion owed by its ailing South Korean operation into equity in exchange for financial support and tax benefits from Seoul, Reuters reported. VW Vizzion previews potential Tesla Model S rivalMon, 19 Feb 2018 10:46:02 ESTVW's I.D. Vizzion concept previews a possible flagship electric car that would compete directly with the Tesla Model S. The sedan has no steering wheel or visible controls and also hints at what a fully autonomous VW car could look like. Why rival designers are talking up the Jaguar I-PaceMon, 19 Feb 2018 00:01:00 ESTIt's intriguing when, without prompting, designers talk up a rival vehicle. And that's happening with the Jaguar I-Pace electric crossover. Automakers fear potential drop in diesel values after German court rulingMon, 19 Feb 2018 04:48:31 ESTA court will decide later this week on whether German cities can ban heavily polluting cars, potentially wiping hundreds of millions of euros off the value of diesel cars on the country's roads. Mercedes diesel probe in U.S. finds possible 'defeat' software, paper saysSun, 18 Feb 2018 05:06:14 ESTU.S. investigators have found potentially illegal software modifications in Mercedes diesel cars to help the vehicles pass emissions tests, a German paper said. Europe's luxury compact car segment forecast to decline for second yearSun, 18 Feb 2018 00:01:00 ESTAging models such as the BMW 1 series and Audi A3 as well as the continued rise of SUV alternatives will cause sales in Europe's compact premium segment to fall for a second consecutive year, according to market forecasters. Italdesign will unveil $2.4 million targaSat, 17 Feb 2018 00:01:00 ESTItaldesign will debut the Zerouno targa at the Geneva auto show. The design and engineering company, which is part of VW Group, will build just five units of the $2.4 million two-seater. Brexit shock begins to hit the UK car industrySat, 17 Feb 2018 00:01:00 ESTBrexit shock has begun to hit the UK's car industry as Vauxhall starts to cut its workforce and Jaguar Land Rover readies production curbs. But for some industry observers, there is worse to come. Dyson wants to build 3 EV models, report saysFri, 16 Feb 2018 00:01:00 ESTDyson aims to bring three electric cars to market with the first launching in 2021, the Financial Times reported. Audi denies CEO Stadler will be replaced by former Skoda bossFri, 16 Feb 2018 02:50:55 ESTAudi Chairman Matthias Mueller said reports of an ouster of CEO Rupert Stadler are false. A German newspaper said Stadler will be replaced in April, with former Skoda CEO Winfried Vahland seen as his most likely successor. VW surges in mixed Q4 for European auto sectorFri, 16 Feb 2018 00:01:00 ESTVW, Norwegian parts supplier Kongsberg and UK car retailer Vertu Motors were the best performers in terms of delivering value to their shareholders during the final quarter of 2017. The automotive sector as a whole, however, had mixed results. Ghosn pledges 'irreversible' Renault alliance with NissanFri, 16 Feb 2018 05:29:41 ESTCarlos Ghosn pledged to cement Renault's partnership with Nissan and Mitsubishi, saying the companies will come up with a plan in the next few weeks to make the alliance "irreversible." VW staff are unconvinced of culture changeFri, 16 Feb 2018 03:55:23 ESTAlmost two thirds of VW employees in Germany see no improvement in the automaker's corporate culture nearly two and a half years after its diesel-emissions fraud was revealed. Kia will partially electrify Ceed lineupFri, 16 Feb 2018 04:24:31 ESTKia will partially electrify its Ceed lineup with a 48-volt mild hybrid but has no plans to add a full-electric version. Faurecia profit rises 34% in 2017Fri, 16 Feb 2018 04:30:34 ESTFaurecia's net income in 2017 climbed 34 percent to 714.5 million euros ($896.4 million), as the supplier saw strong growth across all its main markets. Renault posts record earnings, strengthening Ghosn's handFri, 16 Feb 2018 02:35:23 ESTRenault posted record sales and profit for 2017, bolstering CEO Carlos Ghosn's position in the face of government demands for a clearer succession plan and deeper integration with alliance partner Nissan. Renault board asks Ghosn to stay, pursue closer Nissan integrationThu, 15 Feb 2018 14:04:53 ESTRenault's board proposed the renewal of Carlos Ghosn's CEO position for another four years and appointed Thierry Bollore as chief operating officer. Pininfarina will design cars for Vietnam's first domestic automakerThu, 15 Feb 2018 00:01:00 ESTPininfarina will help to develop a sedan and SUV for VinFast, which aims to be Vietnam's first domestic automaker. VW looks at Apple for electric-car design guidanceThu, 15 Feb 2018 11:44:44 ESTVolkswagen is looking at Apple products for guidance on how to style its new generation of electric cars, its top designer said. Plastic Omnium growth driven by SUV boomThu, 15 Feb 2018 11:20:57 ESTPlastic Omnium reported stronger earnings in 2017, helped by global growth in crossovers and SUVs, which have a higher plastic body content than sedans and hatchbacks. European sales rise 7% in January, boosted by SUVsThu, 15 Feb 2018 02:44:41 ESTEurope's new-car market opened the year with 7 percent sales growth in January. Almost all automakers posted gains, helped by booming sales of SUVs. AvtoVAZ cuts loss to $171 million as Russia recoversThu, 15 Feb 2018 05:55:24 ESTRussia's biggest automaker, AvtoVAZ, said its annual net loss narrowed to 9.7 billion rubles ($171 million) last year from a loss of 44.8 billion rubles in 2016, helped by cost cuts and the recovery of the Russian car market. Citroen adds comfort features to new BerlingoThu, 15 Feb 2018 05:21:52 ESTCitroen says its third-generation Berlingo compact passenger van will be available in two lengths for the first time. Skoda wage offer rejected by Czech unionsThu, 15 Feb 2018 04:15:48 ESTUnions at Skoda have rejected a wage offer from the automaker and started preparations for a possible strike, labor representatives said. German gov't says free public transport no substitute for cleaner dieselsThu, 15 Feb 2018 04:47:12 ESTA proposal to trial free public transport in some German cities as a means of cutting emissions from polluting private cars is not intended as a substitute for efforts to clean up diesel vehicles already on the road, a government spokesman said. BMW makes leaner, sleeker 6-series GTThu, 15 Feb 2018 00:01:00 ESTBMW hopes a more appealing design, greater variability and increased comfort will propel sales of its latest full-size Gran Turismo, which is now sold under the 6-series nameplate. Mercedes Vito probed for emissions defeat deviceWed, 14 Feb 2018 10:59:02 ESTGermany's Transport Ministry is reviewing whether to initiate a formal hearing of Daimler to probe the alleged use of an illegal defeat device in the Mercedes Vito van. Daimler-linked firm picked for Defender-inspired SUVWed, 14 Feb 2018 10:04:42 ESTPetrochemicals company INEOS has handed the engineering contract for its Land Rover Defender-inspired SUV to a German company partly owned by Daimler. Renault confirms departure of Ghosn's joint deputyWed, 14 Feb 2018 12:49:01 ESTRenault confirmed the departure of its chief performance officer, Stefan Mueller. His exit clears the way for Thierry Bollore to be named second-in-command and eventual successor to CEO Carlos Ghosn. Lexus readies BMW X1 rivalWed, 14 Feb 2018 00:01:00 ESTLexus said it will not build its planned BMW X1 competitor in France. The production version of Lexus' compact premium SUV is expected to debut at the Geneva auto show. Opel will launch full-electric Corsa in 2020Wed, 14 Feb 2018 06:44:43 ESTOpel said a full-electric version of its Corsa will launch in 2020, a year after the conventionally powered new generation of the subcompact hatchback goes on sale. Steel unit boosts Thyssenkrupp profit ahead of Tata Steel tie-upWed, 14 Feb 2018 04:39:24 ESTThyssenkrupp said first-quarter operating profit at it's European steel division rose nearly sixfold to 160 million euros ($198 million) due to improved prices. The unit will be merged with Tata Steel's European operations. VW, Ford, GM, Toyota among automakers providing up to $130 million for Takata's U.S. settlementWed, 14 Feb 2018 06:20:26 ESTVW, Ford, GM and Toyota are among a group of 13 automakers who will contribute as much as $130 million to compensate those injured by faulty Takata airbag inflators as part of a deal to resolve the supplier's bankruptcy, a U.S. Haldex Q4 core profit rises 38%Wed, 14 Feb 2018 05:57:56 ESTSwedish brake systems maker Haldex reported a 38 percent rise in fourth-quarter core earnings, but said investments in development and expansion in North America and China would hold back profitability in 2018. GKN offers investors $3.5 billion to rebuff Melrose bidWed, 14 Feb 2018 04:59:46 ESTUK engineering group GKN sharpened its argument against a hostile takeover attempt by Melrose, outlining plans to divest businesses representing a quarter of its sales, slash costs and return 2.5 billion pounds ($3. London not ready for driverless cars before 2030s, report saysWed, 14 Feb 2018 04:04:12 ESTLondon is ill-prepared to become an early adopter of driverless cars and retail deliveries by drone, a report from the city's lawmakers said. Rolls-Royce gets new engineering chief from BMWTue, 13 Feb 2018 00:01:00 ESTRolls-Royce named BMW veteran Mihiar Ayoubi as head of engineering at the British ultraluxury brand. Toyota teases sporty coupe developed with BMWTue, 13 Feb 2018 06:20:10 ESTToyota's Supra performance coupe looks likely to debut in concept form at next month's Geneva auto show after the automaker released a teaser picture. The new Supra is being developed in partnership with BMW. PSA says new Peugeot, Citroen and Opel vans will set benchmark for segment Tue, 13 Feb 2018 04:54:19 ESTPSA aims to boost its position in Europe's lucrative light van sector by launching three new models for its Peugeot, Citroen and Opel/Vauxhall brands. Renault to appoint finance execs to board after Desmarest exitTue, 13 Feb 2018 16:20:33 ESTRenault will add insurance boss Thierry Derez and former Credit Suisse France CEO Pierre Fleuriot to its board, sources said.