Economy

Euro weakness, exports lift southern Europe car output

March 6, 2015 06:01 CET
While southern Europe is experiencing at best a patchy economic recovery, the outlook for the region's carmakers is a little less bumpy thanks to the weak euro, cheaper oil and labor reforms. Fiat, Ford and GM have boosted output in Spain and Italy....
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AvtoVAZ raises Lada prices again on weak ruble

March 4, 2015 15:21 CET
Russian automaker AvtoVAZ has raised the prices of its Lada cars for the second time this year because of the weaker ruble. The automaker said prices rose by 4.8 percent on average after an increase of around 9 percent in January this year....
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Union OKs 3% wage rise in Daimler, Porsche's heartland

Feb. 24, 2015 10:47 CET
Germany's biggest trade union, IG Metall, accepted a 3 percent wage increase for the country's southwest region, home to carmakers Daimler and Porsche. The union had called for a 5.5 percent increase. Deals agreed in the region traditionally serve as a template for agreements across Germany....
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PSA, Mitsubishi will halt production in Russia

Feb. 20, 2015 09:09 CET
PSA/Peugeot-Citroen and Mitsubishi will close their joint venture plant in Russia for two weeks as the country's worsening economic situation hits vehicle sales....
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JAMES B. TREECE

North of U.S. border, mixed blessings from oil's skid

12:01 am U.S. ET | Feb. 14, 2015
In the U.S., the drop in oil prices is seen as a boost for most of the economy, with some localized pain in the oil patch. In Canada, the view is reversed....
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Daimler targets at least 10% sales growth in China this year

Feb. 10, 2015 13:27 CET
Daimler will boost local production of Mercedes vehicles in China and continue its dealer network expansion as it targets sales growth of at least 10 percent this year, the company's China chief, Hubertus Troska, said....
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Russian car sales may fall up to 35% in 2015, PwC says

Feb. 9, 2015 11:55 CET
Russian new-car sales are expected to decline by 25 percent to 35 percent this year as a weakening ruble and a sharply declining economy hit demand, accounting firm PricewaterhouseCoopers said. Sales fell 24 percent in January....
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Ford will roll out 6 new models in Russia despite market slump

Feb. 8, 2015 11:20 CET
Ford will roll out six new models in Russia this year despite the country's sagging economy and rising tensions over the conflict in Ukraine, CEO Mark Fields told a German business magazine....
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Ford's Europe unit hit by pension cost hike, Fields says

Feb. 5, 2015 12:51 CET
Ford CEO Mark Fields said rising pension costs and Russia's sales slump led the automaker to scrap its profit target for Europe. Ford says it expects to narrow its 2015 pretax loss in Europe, but the figure will exceed the $250 million loss it previously projected....
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Renault CEO Ghosn says one-third of Russian car market will vanish as recession deepens

Feb. 3, 2015 12:02 CET
Renault-Nissan CEO Carlos Ghosn said Russia's car market will probably shrink by another fifth this year, putting pressure on the alliance he leads after it teamed up with AvtoVAZ to strengthen its leading position in the country....
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Ford's Russia woes worsen as weak yen helps rivals

Feb. 2, 2015 11:23 CET
Ford's Chief Financial Officer Bob Shanks expects that Russia will continue to weigh on the automaker this year as the country's economy slumps and Japanese rivals aggressively cut prices helped by the weak yen....
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Europe on track for 5th month of rising vehicle output

Jan. 31, 2015 06:01 CET
European light vehicle production is estimated to rise 1 percent to 1.36 million vehicles in January, the fifth consecutive month of higher output. BMW, Fiat, Ford and VW were forecast to have the biggest production increases on strong demand for new models....
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BEST PRACTICES

Cardinale group makeover flexes digital muscle

2:00 pm U.S. ET | Jan. 24, 2015
In 2008, the recession was raging, and dealer Joe Cardinale decided to make some changes. He committed heavily to online sales and marketing, and parted ways with third-party lead providers, developed his own systems and software to manage his online presence. And he set stringent goals for his staff and held them accountable for results. It has worked wonders....
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GM sees Europe turnaround on track even if local economy isn't

Jan. 23, 2015 10:34 CET
General Motors' efforts to restore European operations to profitability are on track even as the region's economy fails to revive, GM President Dan Ammann said. However, Russia is big "wild card," he said....
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Ghosn lifts European car market forecast on eurozone stimulus plan

Jan. 22, 2015 22:41 CET
Renault CEO Carlos Ghosn upgraded his European car market growth forecast after the European Central Bank unveiled a bond purchase program to boost the continent's flagging economy. Ghosn now expects Europe's auto market to grow by at least 2 percent in 2015....
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Russia car sales forecast to drop 24% as economic crisis worsens

Jan. 15, 2015 12:01 CET
Russian car sales are set to decline by 24 percent this year after falling 10 percent in 2014 as the country heads for recession. Major Western automakers including Ford, GM, and VW saw their Russian vehicle sales plunge steeply last year....
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PSA's China sales boom may mark industry shift in favor of mass-market carmakers

Jan. 14, 2015 11:45 CET
PSA/Peugeot-Citroen's 32 percent increase in China vehicle sales last year, almost double the 17 percent BMW achieved, may mark an industry shift in favor of mass-market carmakers over premium brands in a cooling market....
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KEITH CRAIN

It's as if the recession didn't happen

12:01 am U.S. ET | Dec. 22, 2014
Those of us with a vivid memory of the trauma of the recession and recovery are surprised, even amazed, that the auto industry is back to business as usual....
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Fiat Chrysler says it has no plan to move Ferrari's tax base from Italy

Dec. 11, 2014 16:07 CET
Fiat Chrysler Automobiles denied a report that it is considering moving the tax residence of its Ferrari supercar unit outside Italy. The possibility of the move to save on corporate taxes caused an outcry in its home country....
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Russian auto market decline slows in November

Dec. 8, 2014 14:31 CET
Russian car sales fell 1 percent in November compared with 10 percent the month before as a state scrappage program and a rush to buy cars ahead of price increases helped the country's troubled auto market....
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Stagnant wages are a drag on new-car sales

12:01 am U.S. ET | Dec. 8, 2014
One reason auto sales in the United States still aren't quite back to the 17 million-a-year pace seen during the boom years before the recession: Many consumers haven't gotten much of a raise since then....
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Russia will extend car purchase incentive plan

Dec. 3, 2014 10:29 CET
Russia will earmark 10 billion rubles (150 million euros) in 2015 to extend a scrappage program for new vehicle purchases. Russia car sales have been hit by a frail economy struggling under Western sanctions and a weakening ruble....
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Now that's what I call a comeback

12:01 am U.S. ET | Nov. 24, 2014
It's official. The comeback that has followed the bottoming out of auto sales in 2009 has some serious legs. In fact, it's the longest-lasting post-recession sales rebound in modern history....
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BEST PRACTICES

Cardinale group makeover flexes digital muscle

12:01 am U.S. ET | Nov. 24, 2014
In 2008, the recession was raging, and dealer Joe Cardinale decided to make some changes. He committed heavily to online sales and marketing, and parted ways with third-party lead providers, developed his own systems and software to manage his online presence. And he set stringent goals for his staff and held them accountable for results. It has worked wonders....
Read More »

 

VW will stop selling Seat cars in Russia next year

Nov. 18, 2014 15:36 CET
Volkswagen's Spanish subsidiary, Seat, will stop selling cars in Russia by early next year because of the country's economic downturn and weakening ruble....
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