Recession

Luxury car sales surge in Russia despite crisis

Feb. 3, 2016 16:34 CET

More and more Porsche, Bentley and Rolls-Royce cars are appearing on Russian roads as wealthy buyers take advantage of a weak ruble that means luxury cars are considerably cheaper in Russia than in the U.S....
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Daimler still plans Mercedes plant in Russia despite weak market

Jan. 13, 2016 06:01 CET

Daimler remains committed to adding a plant in recession-hit Russia to support the 'remarkable' performance of its Mercedes brand, CEO Dieter Zetsche said....
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Continental expects slower growth this year after 14% revenue rise in 2015

Jan. 11, 2016 13:14 CET

Continental expects a sales revenue increase of about 5 percent this year after a 14 percent jump in 2015....
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Detroit 3 lost 3.5M in sales. Who found them?

12:01 am U.S. ET | Jan. 11, 2016

The last, and only time U.S. light-vehicle sales were in the neighborhood of 17.5 million vehicles, in 2000, the market was markedly different....
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Russian car sales plunge 43% in November

Dec. 8, 2015 12:47 CET

Russian car sales plunged 43 percent in November, the biggest monthly drop this year, as a weakening ruble continued to hit demand. Ford, GM and Toyota each saw volume decline more than the overall market last month....
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When's the next downturn? Watch these 2 numbers

12:01 am U.S. ET | Nov. 2, 2015

When do will the good times stop rolling in the U.S. auto industry? To anticipate the next downturn, a new Standard & Poor's report says automakers and suppliers should keep an eye on two key indexes....
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UK car production forecast cut on sluggish Europe

Oct. 13, 2015 11:25 CET

Automakers will build about 1.8 million cars in 2017 in the UK, less than the 1.95 million originally expected, due to more sluggish growth in Europe, an industry body said....
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Russian car-sales decline slows to 19% in August

Sept. 8, 2015 15:15 CET

Russian new-car sales fell for an eighth successive month in August, underscoring the country's deepening slide into economic recession, even as a weakening currency encouraged some consumers to spend....
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Continental CFO calls China stock effect an 'overreaction'

Sept. 4, 2015 12:31 CET

Continental's finance chief, Wolfgang Schaefer, called a China-related global stock slide an "overreaction" and said he still sees growth in the nation's auto industry next year....
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Europe sales advance 9% in July as economies rebound

Aug. 24, 2015 06:01 CET

European new-car registrations rose 9.1 percent in July as recession-hit countries such as Portugal and Ireland, along with the major markets of Germany, the UK, France and Italy, performed strongly....
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Russian car sales slump eases on gov't incentives

Aug. 10, 2015 23:59 CET

Russian car sales dropped at the slowest pace since their slump resumed in January as the government used subsidies and other incentives to counter falling consumption....
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VW, FCA, GM at risk as Brazil slump worsens

June 14, 2015 06:15 CET

VW, Fiat Chrysler, GM and Ford are all likely to be hit hard by a downturn in Brazil's auto industry this year that's expected to be the worst since 1998, according to the national automakers association Anfavea....
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Bentley expands in hard-hit Russia with third dealership

June 2, 2015 16:30 CET

Bentley has added its third dealership in Moscow as the carmaker anticipates that wealthier Russians will shrug off an impending recession and buy its upcoming Bentayga SUV....
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Spain renews scrappage program for the last time

May 13, 2015 13:00 CET

New-car sales in Spain will continue to be boosted by subsidies after the government said it will renew a scrappage program for the last time.The program has helped to fuel car sales for the last 20 months after the country fell into a severe recession....
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EDITORIAL

Post-recession ripples

12:01 am U.S. ET | May 4, 2015

In December, General Motors delayed auctioning some retired rental-fleet vehicles because of depressed prices....
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Dealership employees, payrolls top prerecession levels

12:01 am U.S. ET | April 20, 2015

U.S. dealerships added to their employee count for the fifth year in a row last year, causing the average store's payroll to rise sharply above its pre-recession levels. The average wage of $55,000 per employee ranks as one of the highest of any retail trade....
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EDITORIAL

All in all, rescue of automakers was a success

12:01 am U.S. ET | April 13, 2015

Certainly, the governmental bodies and their respective taxpayers lost some money on the rescue of General Motors and Chrysler. But it was far less than what the cost to them and the North American economy would have been if the automakers had been allowed to fail in 2009....
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Russian new-car sales fall 43% as economy slides

April 8, 2015 15:00 CET

Russian new-car sales fell 43 percent last month as a weak currency, falling oil prices and Western sanctions over Ukraine push the economy into recession....
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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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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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