Recession

Fiat plans to extend layoffs for 5,300 Mirafiori factory workers, report says

Aug. 27, 2013 15:19 CET
Fiat plans to extend temporary layoffs at its Mirafiori factory in Italy amid slumping car demand in Europe. About 5,300 workers at the factory in Turin will be asked to stay home for most of next year.... Read More »

 

Ford of Europe sales boss sees no quick end to price war

Aug. 15, 2013 15:51 CET
Europe's car market may be on the rebound, but a manufacturers' price war will not let up until sales increase significantly, Ford of Europe's sales chief says.... Read More »

 

Problems ease in Europe; Ford, GM still wary

July 29, 2013 06:01 CET
Smaller second-quarter European losses by GM and Ford appeared to signal that the region's car market has reached its nadir and is beginning to heal.... Read More »

 

Problems ease in Europe; Ford, GM still wary

12:01 am U.S. ET | July 29, 2013
The smaller second-quarter European losses posted last week by General Motors and Ford Motor Co. appeared to signal that the car market on the other side of the Atlantic has reached its nadir and is beginning to heal. But neither automaker seems to believe that -- or at least they're not banking on a market rebound.... Read More »

 

Renault lifts core profit despite Europe slump

July 26, 2013 08:04 CET
Renault increased first-half profitability as reductions in labor costs offset slumping sales in Europe but the automaker's bottom line was weakened by lost business in Iran and the bankruptcy of Better Place.... Read More »

 

Italy pledges action to keep Fiat plants, report says

July 25, 2013 11:26 CET
Italy's industry minister has set up a working group that will seek to keep Fiat's five Italian car factories from closing.... Read More »

 

Daimler sees H2 gains as Europe car market hits bottom

July 24, 2013 08:34 CET
Daimler says profits will rise in the second half as car sales in Europe reach the end of a six-year slump and new and refreshed models such as the CLA compact and S class boost sales.... Read More »

 

Spain will extend car scrappage scheme

July 19, 2013 15:39 CET
The Spanish government will extend a scrappage scheme that subsidizes purchases of new cars. The subsidies have tempered the fall in sales in the recession-hit country... Read More »

 

'Buy a car, get one free' discounting threatens European car rebound

July 14, 2013 12:07 CET
Europe's decline in car sales is showing signs of bottoming out but heavy price competition among brands and dealers threatens to kill any sense of relief for automakers struggling with excess plant capacity.... Read More »

 

EDITORIAL

Restraint got us through recession; let's stay with it

12:01 am U.S. ET | July 8, 2013
Four years into the recovery, manufacturers are matching production to sales, limiting profit-killing incentives, not flooding the fleet market and avoiding cutthroat market-share offensives.... Read More »

 

Ghosn says Europe market may fall further in next 2 years

July 7, 2013 06:01 CET
Renault CEO Carlos Ghosn said Europe's car market will probably shrink further in 2014 and 2015. He is preparing Renault for 'several years of market stability, at best.'... Read More »

 

Sales declines slowed in Italy, Spain and France in June

July 2, 2013 10:00 CET
The decline in Italian, Spanish and French car sales slowed in June, raising hopes that the bottom of the slump in the crisis-hit European market could be close. The region's car market is nearing a two-decade low after five continuous years of contraction.... Read More »

 

PSA opens 3rd China plant as European sales slide

July 2, 2013 06:01 CET
PSA opened a third assembly plant in China today, expanding in the world's largest vehicle market even as a slump in European demand prompts it to cut jobs at home.... Read More »

 

GM plays musical chairs, roils Chattanooga market

12:01 am U.S. ET | June 24, 2013
The turmoil is finally subsiding in the Chattanooga market four years after the national economic crisis and the bankruptcy of General Motors. But getting the car business back in order in this mountainous market of 350,000 people has been a game of musical chairs.... Read More »

 

Automakers seek stability after German election to aid Europe sales recovery

June 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 Europe

June 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 woes

June 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 »

 

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 »

 

Europe car sales rise for first time in 19 months

May 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 »

 

Audi's tight U.S. supply, fast turn rate lift dealer profitability

May 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 crisis

May 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 Europe

April 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 halves

April 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 »

 

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 »

 

Subscribe
 
 
Most Read
Special Report
How a Texas Toyota store solved used-car-supply challenge

How a Texas Toyota store solved used-car-supply challenge

Mike Shaw Toyota in Corpus Christi, Texas, struggled to find good used cars. So it started providing free appraisals to service customers and offered to buy their vehicles on the spot. Mon., April 14
» Watch the Video
     
Rocket Fuel