Schaeffler confirms 2013 outlook, net debtMay 21, 2013 11:14 CET German supplier Schaeffler has confirmed its annual forecast for revenue growth of about four percent and an operating profit margin of approximately 13 percent, despite a drop in first-quarter revenue of 3.6 percent to 2.8 billion euros ($3.6 billion).... Read More »
Autoliv targets revenue gains of 5% on China, U.S. demandMay 14, 2013 10:19 CET  Swedish supplier Autoliv is targeting annual revenue growth of 5 percent or more in the next five years based on an increase in Chinese and U.S. car sales.... Read More »
BMW seeks third straight sales record as new models offset weak EuropeMay 14, 2013 10:49 CET  BMW stuck to its goal of setting a sales record for the third consecutive year as new models help offset a slump in Europe.... Read More »
Ghosn sees more tough times in Europe; record global sales for NissanMay 10, 2013 13:35 CET  Renault-Nissan CEO Carlos Ghosn said that while he expects Nissan's global retail sales to reach a record this year, he doesn't see any growth in Europe before 2016.... Read More »
Nissan Q4 profit jumps 46%May 10, 2013 10:54 CET  Nissan today reported a 46.1 percent rise in its quarterly net profit to 110 billion yen ($1.11 billion).... Read More »
Volvo's operating profit slumps in 2012May 3, 2013 15:59 CET  Volvo aims to break even on an operating level this year without help from one-off gains that kept the carmaker in the black in 2012. Volvo's operating profit fell to $2.76 million in 2012.... Read More »
Continental sticks to 2013 targets on raw material cost dropMay 3, 2013 09:04 CET  Continental reiterated targets for 2013 as declining raw material costs and new products are offsetting a sixth year of contraction in its home region's car market.... Read More »
Audi sticks with medium-term margin outlookApril 30, 2013 14:04 CET  Audi will stick with its outlook for a medium-term operating margin of 8-10 percent after it reported an easing of the first-quarter margin to 11.1 percent from 11.4 percent the year before.... Read More »
VW says 2013 will be tough, eyes H2 upturnApril 25, 2013 10:34 CET  VW Group is bracing itself for a tough year ahead, though the automaker believes business may improve in the second half as non-European markets keep growing. The automaker plans to tap into these markets by adding an additional 1,500 sales outlets in the medium term.... Read More »
Skoda aims to double sales in China by 2018April 25, 2013 15:42 CET  Skoda aims to double its sales in China to 500,000 vehicles within five years as part of a push to raise annual global deliveries to at least 1.5 million cars by 2018, up from a record 939,200 vehicles in 2012.... 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 »
Automakers will likely lower targets as German car sales plungeApril 18, 2013 17:34 CET  Daimler and other global automakers will probably have to lower their forecasts after demand in Germany dropped the most in 2 1/2 years. The plunge in the German market is prompting companies to increase discounting, in turn pressuring earnings.... Read More »
Bosch sees sales gain of 4% in 2013 on growth outside EuropeApril 18, 2013 10:04 CET  German supplier Bosch forecasts its sales will increase as much as 4 percent this year as growth outside Europe makes up for a recession in the region.... Read More »
Daimler likely to cut 2013 outlook on weak EuropeApril 10, 2013 09:34 CET  Daimler is likely to cut its 2013 profit outlook when it reports first-quarter earnings later this month amid weak demand, especially in Europe. "Not much tailwind is anticipated from the markets in the coming months. For Europe in particular, there are no signs of a trend reversal," CEO Dieter Zetsche said.... Read More »
AUTOMAKERS Fiat says it may need capital hike after Chrysler buyoutApril 9, 2013 15:34 CET  Fiat's loss-making European operations will be further weakened by the region's drawn-out auto slump, CEO Sergio Marchionne warned, adding that the carmaker may need to raise capital after it completes a planned buyout of Chrysler.... Read More »
U.S. auto sales wrapping up a strong March 2:25 pm U.S. ET | March 29, 2013  Auto sales in the United States are finishing March on an upbeat note, with analysts expecting the industry to extend its strongest streak in five years.... Read More »
Daimler sees Q1 profit falling below Q4 levelMarch 29, 2013 10:58 CET  Daimler forecast first-quarter operating profit to be significantly lower than in the last three months of 2012 after premium car and commercial truck markets were weaker than it expected.... Read More »
CHINA Nissan delays China growth plan by one yearMarch 28, 2013 12:35 CET  Nissan has delayed its plan to get a 10 percent market share in China by one year, after political friction between China and Japan upset sales. Nissan chief Carlos Ghosn says he is now giving the carmaker until 2017 to hit its goal, instead of 2016. Nissan currently accounts for between 6.5 percent and 7 percent of market share in the country.... Read More »
SUPPLIERS Continental says 2014 sales growth may quicken if economy holdsMarch 26, 2013 06:01 CET  German supplier Continental says it expects 'high single-digit growth' in 2014 if economic conditions don't worsen. The company added that it is sticking to its forecast of a 5 percent increase in sales this year.... Read More »
March U.S. auto sales will rise 8%, LMC predicts 9:46 am U.S. ET | March 21, 2013  March auto sales in the United States are expected to rise 8 percent and the annual sales pace should top 15 million for the fifth straight month as consumers shake off worries about the economy, according to research firm LMC Automotive.... Read More »
SUPPLIERS Schaeffler sees N. America, Asia gains pushing revenue growth in 2013March 21, 2013 14:04 CET German supplier Schaeffler said demand in North America and Asia will more than make up for a sales drop in Europe to allow volume growth in 2013.... Read More »
VW, BMW predict 'difficult' 2013 on Europe slump, China slowdownMarch 15, 2013 06:01 CET VW Group and BMW Group predicted a "difficult" 2013 as the European auto market contracts, vehicle prices in the region drop and growth in China slows. VW CEO Martin Winterkorn said the automaker is confronting "tougher competition and difficult economic conditions." BMW CEO Norbert Reithofer sees conditions as "likely to remain challenging in many markets."... Read More »
Western Europe car sales decline 10.6% in FebruaryMarch 8, 2013 09:43 CET  New-car registrations in western Europe fell 10.6 percent to 771,695 in February, market forecaster LMC Automotive said.... Read More »
Continental forecasts first-quarter sales drop on falling auto demandMarch 8, 2013 06:01 CET  Continental forecasts first-quarter sales will decline as much as 3 percent as demand for autos in its home market plunges. Revenue in the quarter will drop 1 percent to 3 percent, the company says.... Read More »
Carmakers warn of weak European market for years to comeMarch 5, 2013 12:38 CET  New-car sales in Europe are at the low end of expectations and the market is likely to remain shaky for at least five years as the region implements austerity measures to cut its debts, industry executives warned on Tuesday.... Read More »
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