Economy

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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Weak ruble, gov't subsidy slow Russia's sales decline

Nov. 12, 2014 15:14 CET

Russian car sales fell 10 percent last month, slowing from a 20 percent drop a month earlier, as the weak ruble and a government subsidy started to provide benefits....
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VW will halt Russia output as sanctions, weak ruble hit demand

Nov. 3, 2014 13:52 CET

VW will halt production in Russia again as Western sanctions and the weak Russian ruble keep hurting auto demand. VW is shutting its factory in Kaluga for five working days through Nov. 7....
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Carmakers face uncertainly from EU's 2030 CO2 goals

Nov. 1, 2014 06:01 CET

The EU's new 2030 climate and energy targets create uncertainty for automakers because they let member states decide whether to include transport pollution in the EU's carbon emissions trading system....
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China's auto market growth may halve to 7% this year

Oct. 31, 2014 06:15 CET

Growth in China's auto market is forecast to halve to 7 percent this year, an industry body said, citing a slowing economy which weakened further in the third quarter....
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BMW, others bet on Brazil but benefits trail Mexico

Oct. 30, 2014 16:18 CET

BMW is among a group of carmakers investing in Brazil as a growing middle class fuels a surge in car sales, but high costs, poor infrastructure and few trade agreements mean Brazil can't compete with rival Mexico....
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Fiat Chrysler's growth plans clouded by Brazilian outlook

Oct. 29, 2014 11:52 CET

Fiat Chrysler aims to boost sales in Latin America by 44 percent over five years but a recent big drop in volume and weakening outlook in Brazil, the region's biggest economy, threaten to spoil its ambitions....
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Russia may extend car-buying subsidy scheme into 2015

Oct. 25, 2014 06:01 CET

Russia may extend an incentive scheme for new-vehicle purchases beyond this year to help the car industry weather an economic downturn which has caused sales to plummet 13 percent so far this year....
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Automotive News
Special Video Report
Nissan's Munoz: 'You grow or you go'

Nissan's Munoz: 'You grow or you go'

Nissan N.A. boss Jose Munoz continues to push U.S. dealers for a big jump in market share while deflecting complaints that his stair-step sales targets are too hard to achieve.
» Watch the Video
     
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