Automakers seek stability after German election to aid Europe sales recoveryJune 14, 2013 06:01 CET  Carmakers including Volkswagen and PSA haven't taken a stand on German Chancellor Angela Merkel's bid for a third term in September, but they all want the election to be over. Any recovery in European auto sales from a six-year slump will hinge largely on a stable Germany, but recent polls show there is likely to be no clear winner in September's election.... Read More »
2013 AUTOMOTIVE NEWS CONGRESS Dacia benefits from downsizing trend in EuropeJune 12, 2013 17:00 CET Dacia is the symbol of a new consumer trend for affordable cars in austerity-hit Europe, said Arnaud Deboeuf, Renault's entry-program director.... 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 »
YANG JIAN China's slowing economy provides opportunities for foreign automakers 12:01 am U.S. ET | June 10, 2013  Recent economic indicators suggest that China's economy is losing steam. The economy grew 7.7 percent in the first quarter, down from last year's 7.8 percent pace, and official statistics may be masking a more serious slowdown. Still, foreign automakers in China should view the slight slowdown as an opportunity for better long-term growth.... Read More »
Energy, real estate rebound driving pickup sales, Detroit 3 share gains 12:34 am U.S. ET | June 4, 2013  Record energy production coupled with a sustained housing recovery are pushing pickup sales to the highest level in as much as eight years and driving Detroit's comeback. Detroit's 3 automakers have gained 1.2 points of market share this year, the first time all three have gained share during the January- though-May period in at least 18 years, as sales continue on a pace for the best year since 2007.... Read More »
If market goes sour, buying can prove costly 12:01 am U.S. ET | June 3, 2013  There are some downsides to real estate ownership that can make leasing desirable. In the mid-2000s, many dealers were "coerced by the manufacturers into overbuilding" new stores or making store improvements, says Mike Issa, California managing principal of financial advisory firm GlassRatner Advisory & Capital Group in Irvine, Calif.... Read More »
European carmakers shares decline on weakening China manufacturingMay 23, 2013 11:04 CET Volkswagen, PSA and Renault shares all dropped 5 percent or more after preliminary data showed Chinese manufacturing is unexpectedly contracting.... Read More »
Europe car sales rise for first time in 19 monthsMay 17, 2013 08:34 CET European car sales rose for the first time in 19 months on strong demand in the UK and a rebound in Germany. Registrations in April increased 2 percent to 1.08 million vehicles from 1.06 million cars a year earlier, industry association ACEA said.... Read More »
LINDSAY CHAPPELL The auto boom -- without new jobs 2:49 pm U.S. ET | May 14, 2013  Bill Strauss has some very good news for the American auto industry. Or he has some very bad news. You can take your pick.... Read More »
Audi's tight U.S. supply, fast turn rate lift dealer profitabilityMay 10, 2013 06:01 CET  Audi of America President Scott Keogh is presiding over a brand with momentum, with U.S. sales up 16 percent through April and a batch of new vehicles launched or on tap. Keogh, 44, became president of Audi of America in June, a promotion from chief marketing officer.... Read More »
Dealer fears deepen as Italy car sales fall 11%May 2, 2013 18:31 CET  New car sales in Italy fell 11 percent in April deepening worries that the market will show a big full-year drop..... Read More »
BMW CEO says Europe needs at least 5 years to solve debt crisisMay 2, 2013 11:16 CET  BMW's boss expects European governments to need at least five more years to overcome the region's protracted debt crisis. "I don't think that's a pessimistic assumption," CEO Norbert Reithofer said on Thursday during a conference call to discuss first-quarter results.... 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 »
VW brand bears brunt of Europe slump as Q1 profit halvesApril 29, 2013 11:49 CET  First-quarter profit at Volkswagen Group's core brand almost halved as automakers in Europe battle the region's protracted slump in demand with deeper discounts.... Read More »
VW may cut temporary staff in Europe, Winterkorn saysApril 27, 2013 12:39 CET  Volkswagen may cut temporary posts in response to Europe's weak market but won't close factories or reduce its permanent work force, CEO Martin Winterkorn said.... Read More »
VW keeps targets after first-quarter profit falls 26%April 24, 2013 12:04 CET Volkswagen is sticking to its goal to match last year's record operating profit and vehicle sales after first-quarter profit dropped 26 percent on falling demand in Germany and heavy spending on new vehicles.... Read More »
Daimler lowers 2013 profit goal after first-quarter earnings drop 56%April 24, 2013 08:19 CET  Daimler cut its 2013 profit forecast after its quarterly earnings fell 56 percent, burdened by Europe's slump and weaker Mercedes-Benz sales in China.... Read More »
2013 SHANGHAI AUTO SHOW BMW, Daimler, JLR expect higher China sales to offset weak EuropeApril 20, 2013 08:36 CET European luxury brands count on continued growth in China to offset slumping demand in their home markets. Audi CEO Rupert Stadler said Europe faces long stagnation but an expanding Chinese market will boost premium automakers.... Read More »
Morocco bids to build auto industry for the regionApril 20, 2013 06:15 CET  Morocco is aiming to become a major auto-producing market in the North African region. At present, the heavily agricultural country is host to only two Renault Group plants and may need to develop a better qualified workforce before it can attract further automakers.... 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 »
PSA credit rating cut on Europe recovery doubtsApril 11, 2013 10:04 CET  PSA/Peugeot-Citroen's credit rating was cut one step to four levels below investment grade by Moody's Investors Service, which said a contraction in Europe's car market will put at risk the automaker's plans to restore cash flow.... Read More »
Polish car production falls 24% in first quarterApril 10, 2013 13:31 CET  Polish car production fell an annual 24 percent in the first quarter following a decision by Fiat to transfer output of its best-selling Panda minicar from Poland to Italy and layoff workers at its Tychy factory.... Read More »
PRODUCTION Weak car output hits Czech economyApril 8, 2013 11:46 CET Czech industrial production edged up in February but thinning order books show the central European country may not yet be coming out of its longest recession in two decades. The main problem has been falling car production.... Read More »
SUPPLIERS Pirelli studying plan to offset weak Europe demand, source saysApril 8, 2013 06:01 CET  Pirelli plans to offset weakening demand in Europe for its premium tires by shipping tires produced in Europe to emerging markets, where demand is growing, said an industry source on Sunday.... Read More »
SALES Fiat turns to Germany as Italy sales seen as worst since 1966April 5, 2013 06:01 CET  Fiat, faced with Italy sales that could fall to their lowest level for 47 years, is seeking to boost sales in Germany by offering steeper discounts than any other automaker there. Plummeting deliveries, hit by political turmoil, are upending Italy's auto industry and will hit Fiat, which makes 56 percent of its sales in the country, especially hard. As a result, hundreds of Italian dealerships are closing and factories are running at half capacity.... Read More »
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