Currency

Schaeffler Q1 profit buoyed by vehicle demand, weak euro

May 21, 2015 11:41 CET

German supplier Schaeffler reported a 3.8 percent rise in quarterly operating profit because of robust demand from carmakers in the U.S. and China as well as the effects of a weaker euro....
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Russian car sales fall 42% to lowest April level for a decade

May 13, 2015 15:17 CET

Russian new-car sales fell 42 percent in April, the lowest level for the month in a decade, as the country's economy continued to be hit by Western sanctions, low oil prices and a weak currency....
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Suzuki 2014 profit fell on weak Asia demand

May 11, 2015 11:15 CET

Suzuki said its annual operating profit fell 4.4 percent, the first time it has fallen in six years, as weak demand in Japan and Southeast Asia offset hefty currency gains and robust earnings in India, its biggest market....
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Magna Q1 earnings rise 18%

11:45 am U.S. ET | May 7, 2015

Diversified Canadian supplier Magna International today reported sharply higher first-quarter earnings while revenues fell because of weaker currency values vs. the US dollar....
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Continental raises forecast after Q1 earnings rise 10%

May 7, 2015 10:41 CET

Continental raised its 2015 sales forecast after posting higher first-quarter earnings that were helped by positive foreign exchange effects and a low oil price. Quarterly earnings rose 10 percent to 1.05 billion euros ($1.19 billion), the supplier said....
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CHRISTIAAN HETZNER

BLOG: German automakers' bonus from weak euro may be hit by U.S. Fed shift

8:54 am U.S. ET | April 30, 2015

German carmakers and suppliers expect currency effects to add hundreds of millions to their bottom lines. But moves by the Federal Reserve to prop up the U.S. economy could strengthen the euro and hurt Daimler, VW and BMW....
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Continental Q1 profit rises 5% on Europe rebound

April 30, 2015 11:39 CET

Continental's first-quarter profit rose 5 percent to about 1 billion euros ($1.11 billion) as auto sales in Europe increased....
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Bosch says weak euro will help sales rise up to 5%

April 29, 2015 11:59 CET

Bosch forecasts that its 2015 sales will rise between 3 percent and 5 percent after a weaker euro bolstered its top line in the first three months....
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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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Automakers stay in Russia despite risk of high losses

March 19, 2015 12:39 CET

Automakers such as Volkswagen, Renault and Ford continue to compete for market share in Russia, even as GM scales back in the country. Companies risk losing as much as $2,000 on each car sale, according to a Russian dealership association....
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SsangYong suspends exports to Russia on weak ruble

March 19, 2015 11:55 CET

SsangYong has suspended exports to Russia as the plunging ruble hits demand in the automaker's biggest export market. In the first two months, the automaker's sales fell 61 percent in Russia....
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Skoda CEO Vahland urges Czech euro adoption when Greek crisis ebbs

March 16, 2015 21:17 CET

The Czech Republic will benefit from adopting the euro and should join the monetary union after the Greek debt crisis calms down, Skoda CEO Winfried Vahland said. Skoda is the country's largest industrial company and the country's main exporter....
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Russian car sales fall 38% in February

March 10, 2015 15:30 CET

Russia's new-car sales fell 38 percent to 128,298 vehicle in February as consumers continued to avoid big purchases in an ailing economy plagued by a weakening ruble and Western sanctions over the conflict in Ukraine....
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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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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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DAVE GUILFORD

BLOG: Russia, weak euro form backdrop for Geneva show

12:28 pm U.S. ET | March 2, 2015

Automakers usually don’t overreact to international tensions and currency fluctuations. That’s why the comments coming from auto execs on the verge of the Geneva auto show are so striking....
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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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Weaker loonie no savior for Canada's ailing auto industry

9:06 pm U.S. ET | Feb. 17, 2015

A strong Canadian dollar has wounded the country's auto manufacturing sector over the last decade, but the currency's recent drop to a near six-year low is unlikely to spur a rush of new investment, senior industry executives say....
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EDITORIAL

Don't overreact

12:01 am U.S. ET | Feb. 16, 2015

It's overlooked sometimes, but currency exchange is a major factor in shaping the global strategies of automakers. The question is how should automakers and suppliers react when exchange rates shift dramatically....
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HANS GREIMEL

BLOG: Japan automakers cut forecasts but enjoy slumping yen.

6:47 am U.S. ET | Feb. 12, 2015

Japan's earnings season wrapped up this week on what would have been a sour note in any other auto market. Yet, Japan's automakers largely laughed it off because of the slumping yen....
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The mighty dollar and what it means for the car business

12:01 am U.S. ET | Feb. 9, 2015

Automakers insist they don't make short-term decisions based on currency movements. But the weak dollar has been a long-term trend that effectively reshaped the global industry. Now — barring a dramatic shift in currencies — the trend is over....
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KEITH CRAIN

When do we see price reductions?

12:01 am U.S. ET | Feb. 9, 2015

Right now, the U.S. has the hottest currency in the world and one of the hottest automotive markets as well. With a much stronger U.S. dollar, you would think we'd see huge reductions in pricing on vehicles and parts from countries with weak currencies....
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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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Planned Mitsubishi sedan falls victim to currency woes

7:48 am U.S. ET | Feb. 2, 2015

Punishing foreign exchange rates have torpedoed plans to add a Korea-built midsize sedan to Mitsubishi's U.S. lineup. Dealers had been banking on the sedan, sourced from a Renault-Nissan assembly plant in Busan, South Korea, since the plan was disclosed in November 2013....
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Kia's fourth-quarter profit drops 54% on ruble plunge

Jan. 23, 2015 11:31 CET

Kia posted a 54 percent fall in quarterly profit as a weakening ruble reduced income earned in Russia where Kia ranks No. 2 after Lada. Kia expects sales in the market to fall 12 percent this year, because the ruble's decline could force further price rises, denting demand....
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Toyota's Lentz in Texas: A Lexus regret, fixing 'starved' Scion, the next Prius

Toyota's Lentz in Texas: A Lexus regret, fixing 'starved' Scion, the next Prius

Toyota North America CEO Jim Lentz is a pioneer. He and a handful of other employees moved to north Texas last September to help build the automaker's new U.S. headquarters.
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