Dacia completes EU rollout with Denmark sales startJune 19, 2013 06:01 CET  Dacia has started selling its Lodgy minivan in Denmark, the latest western European market for Renault's no-frills brand that was originally created for developing markets. The expansion into Denmark marks the completion of Dacia's rollout in the EU.... Read More »
Spain's CIE and India's Mahindra agree on deal to create major supplierJune 15, 2013 17:56 CET  Spain's CIE Automotive will buy a majority stake in the combined auto component unit of India's Mahindra Group to create a new company that will become one of the top 25 global suppliers, with annual sales of $3 billion and operations from North America to Asia.... Read More »
Faurecia bets on global projects to escape Europe market woesJune 12, 2013 10:49 CET  French supplier Faurecia is pushing for global supply contracts with customers such as Ford as it seeks to wean itself away from relying on its recession-strapped home region where new-car sales are falling for the sixth consecutive year.... Read More »
Volvo's global creative account is up for review 12:01 am U.S. ET | June 10, 2013 Volvo, which is controlled by China's Zhejiang Geely Holding Group Co., said it is seeking a global agency that can "focus and strengthen the brand communication worldwide." The incumbent creative shop, Arnold Worldwide, has been invited to defend the business.... Read More »
Ford small SUVs going global in bet that growth continues 9:54 pm U.S. ET | May 29, 2013  Ford, which helped spur the SUV boom of the 1990s, is rolling out smaller SUVs to more markets worldwide, betting that growth of recent years will continue.... Read More »
STAR POWER Not satisfied with OnStar's steady profits, GM wants to create a global 4G powerhouse 12:01 am U.S. ET | May 27, 2013  General Motors' OnStar telematics unit has quietly become a profit margin superstar. Analysts peg OnStar's revenues at about $1.5 billion annually, with a margin of 30 to 35 percent. That's about five times the 6.2 percent margin from GM's first-quarter adjusted earnings before interest and taxes in North America. The question for GM now is: Can OnStar be more?... Read More »
Acura eyes emerging markets 12:01 am U.S. ET | May 27, 2013  Honda's Acura Division has mostly been a North American entity during its 28 years of existence, but Honda plans to take its upscale brand onto the global stage. Honda has announced plans to introduce Acura in Russia and the Ukraine in 2014 and move into Brazil and the Middle East in 2015. There is now a fledgling Acura sales operation in China that Honda aims to expand.... Read More »
Italy's Sogefi said to sell $115 million bonds in U.S. private placementMay 20, 2013 08:49 CET  Italian supplier Sogefi sold $115 million in bonds to U.S. investors in a private placement and is planning to sell another 25 million-euro ($32 million) note, a person familiar with the transaction said.... Read More »
In boost to GM and VW, China resumes incentives for foreign auto investment 12:01 am U.S. ET | May 17, 2013  A surprise policy shift in China is expected to give a boost to GM, Volkswagen Group and other foreign automakers planning to expand in the world's largest car market.... Read More »
VW, GM, others get unexpected boost in ChinaMay 17, 2013 06:01 CET  A surprise policy shift in China is expected to give a boost to VW Group, GM and other foreign automakers planning to expand in the world's largest car market.... Read More »
Audi's new Mexico SUV plant aimed at unseating BMWMay 3, 2013 06:01 CET  Audi executives plan to break ground on a $1.3 billion factory in Mexico with a capacity of some 150,000 cars a year. The plant will be instrumental in Audi's push to topple BMW as the world's No. 1-selling premium automaker.... Read More »
VW eyes China growth to ease pain in EuropeApril 30, 2013 06:01 CET  Volkswagen expects sales in China this year to outpace total sales volume in the market, which the carmaker believes will increase 6 percent to 8 percent. In Europe, the automaker remained resilient to a recession in its home region as high-end sales from its newly-intergrated Porsche unit help offset a drop in deliveries at the carmaker's core mass-market brand.... Read More »
Daimler plans 300 million euro expansion in RomaniaApril 24, 2013 15:08 CET  Daimler will invest more than 300 million euros to build a factory in Romania to assemble transmissions for its Mercedes-Benz brand after reaching full capacity at its main powertrain plant near Stuttgart.... Read More »
2013 SHANGHAI AUTO SHOW Mercedes hits reset on China after sales drive faltersApril 22, 2013 08:34 CET  Mercedes is accelerating its dealer expansion in China, streamlining sales and bringing out a number of new or revamped models in a bid to to fix past mistakes in the market that have contributed to a growing gap with premium rivals BMW and Audi.... Read More »
VW will expand China lineup 29% in sales pushApril 19, 2013 11:04 CET  Volkswagen plans to expand its lineup by 29 percent in China to offer 90 cars, SUVs, vans and heavy trucks in the country. China is a key market for VW in its drive to take the industry's global top spot in five years.... Read More »
VW, BMW, Daimler plan $25 billion hedge by building more autos abroadApril 16, 2013 08:34 CET  Volkswagen and its German peers are planning to spend more than $25 billion by 2017 to expand production outside their home region and insulate themselves from currency convulsions.... Read More »
GM to invest $332 million in 4 U.S. sitesApril 5, 2013 06:01 CET  GM said it will invest about $332 million in four U.S. manufacturing sites to produce more fuel-efficient engines and transmission systems.... Read More »
GM to invest $332 million in four sites to build fuel-efficient engines 7:36 am U.S. ET | April 4, 2013  General Motors said it will invest about $332 million in four manufacturing sites to produce more fuel-efficient engines and transmission systems.... Read More »
AUTOMOTIVE NEWS EUROPE E-MAGAZINE Toyota targets growth in EuropeApril 4, 2013 06:01 CET  Since he was appointed Toyota Europe CEO in 2010 French engineer Didier Leroy led the automaker's operations in the region back to its first profit since 2007 for the fiscal year that ended March 31. Despite the European market slump, Leroy expects Toyota to increase vehicle sales and remain profitable this year, thanks to a renewed compact car lineup and an expansion of hybrid offerings.... Read More »
SUPPLIERS Faurecia wins approval to build new NA headquartersApril 3, 2013 06:01 CET  Faurecia North America Inc. has received final approval to build a three-story, 278,000-square-foot North American headquarters in suburban Detroit that will house the company's administration and a technical center for its automotive seating and exteriors units.... Read More »
COMPANY EARNINGS BMW forecasts flat 2013 profit on Europe declineMarch 19, 2013 11:34 CET  BMW forecast unchanged 2013 pretax profit as European auto sales drop and the automaker increases spending to bring out 25 new models in the next two years. Pretax profit climbed 6 percent to 7.82 billion euros ($10.1 billion) in 2012.... Read More »
Volvo said to win China approval to begin local car productionMarch 19, 2013 07:04 CET  Volvo is said to have won the approval of China's main industry planner to begin making vehicles in the country. The automaker, which is owned by China's Geely, has set itself the target of boosting local sales to 200,000 by 2020 from 41,989 last year.... Read More »
VW profit lead over Toyota under threat as demand wobbles 12:01 am U.S. ET | March 18, 2013  VW CEO Martin Winterkorn achieved the company's goal of surpassing rivals GM and Toyota in profit in 2012 but this year's race will be tighter as Toyota bounces back.... Read More »
VW profit lead over Toyota under threat as demand wobblesMarch 18, 2013 06:01 CET  VW CEO Martin Winterkorn achieved the company's goal of surpassing rivals GM and Toyota in profit in 2012 but this year's race will be tighter as Toyota bounces back.... Read More »
Porsche hopes to match last year's 2.4 billion euro profit in 2013March 15, 2013 11:34 CET  Porsche is aiming to match last year's profit in 2013, the company said on Friday. In 2012 Porsche posted an operating profit of 2.44 billion euros ($3.17 billion). Porsche said net debt dropped to 1.87 billion euros at the end of December from 2.58 billion at the end of 2011.... Read More »
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