RecessionEuro zone car markets likely to stabilize by mid-year, VDA saysFeb. 5, 2013 06:01 CET The German automakers association, the VDA, expects euro zone car markets to stabilize in the middle of the year.... Read More »
PSA unions bicker over job cuts at crisis-hit automakerFeb. 1, 2013 06:01 CET  PSA/Peugeot-Citroen labor leaders squared off against one another over a plan to eliminate 17 percent of the automaker's French work force, with three of the five main unions urging immediate action to stem losses.... Read More »
PSA unions bicker over job cuts at crisis-hit automakerJan. 31, 2013 17:49 CET  PSA/Peugeot-Citroen labor leaders squared off against one another over a plan to eliminate 17 percent of the automaker's French workforce, with three of the five main unions urging immediate action to stem losses.... Read More »
Goodyear will close French plant on Europe troublesJan. 31, 2013 11:49 CET Goodyear will close its main French plant and cut its work force in the country by 39 percent amid labor disputes and plunging auto demand in Europe.... Read More »
Bosch auto unit misses sales target by 600 million eurosJan. 23, 2013 12:00 CET  Robert Bosch's auto division boosted global sales by 1.7 percent to a record 30.9 billion euros last year, but missed its 2012 sales target by 600 million euros. The auto unit -- and Bosch as a whole -- will hold back on investments this year because of Europe's weak market, company executives said.... Read More »
Spain may extend subsidies for car buyersJan. 16, 2013 15:03 CET  Spain's government may extend a car-buying subsidy program in an effort to stimulate the country's flagging car market. New-car sales in Spain fell 13 percent to 699,589 in 2012.... Read More »
Czech car sales drop 14.9% in DecemberJan. 8, 2013 06:01 CET Czech car sales fell 14.9 percent year on year in December to 12,784 units as demand in the recession-hit economy ebbed, the country's Car Importers Association said. In total, car registrations rose 0.4 percent to 174,009 units in 2012.... Read More »
Car slump in France, Spain and Italy spells gloomy 2013Jan. 3, 2013 06:01 CET Car sales in France, Spain and Italy in 2012 fell to the lowest levels in years, with December registration data underscoring the challenges facing the broader European economy.... Read More »
How Renault's low-cost Dacia has become a 'cash cow'Jan. 2, 2013 06:01 CET  Once considered a risky bet, Romanian automaker Dacia has become Renault's global profit machine. Europeans think of Renault's Dacia lineup as cheap, entry-level models that compete with used cars for sales. But Dacias are built and sold around the world, often badged as Renaults, for handsome prices.... Read More »
Automakers boost advertising in Europe as sales slump deepensNov. 20, 2012 06:01 CET  Automakers are boosting advertising in Europe as they seek to get the attention of consumers amid the worst sales slump to grip the region in nearly two decades.... Read More »
VW seen posting biggest profit drop since 2009 as Europe crisis widens 12:15 am U.S. ET | Oct. 20, 2012  Volkswagen is due to report its biggest quarterly earnings drop since 2009, while Daimler is cutting costs to lift sagging profit at Mercedes-Benz, hinting that German carmakers have lost their immunity to Europe's economic woes.... Read More »
VW seen posting biggest profit drop since 2009 as Europe crisis widensOct. 20, 2012 06:15 CET  Volkswagen is due to report its biggest quarterly earnings drop since 2009, while Daimler is cutting costs to lift sagging profit at Mercedes-Benz, hinting that German carmakers have lost their immunity to Europe's economic woes.... Read More »
Germans, Koreans get boost from good times in eastern EuropeOct. 17, 2012 06:01 CET  VW's success in Slovakia and Mercedes' strong start in Hungary illustrate a divide among the continent's carmakers. Those that cut costs last decade in western Europe or those that were never saddled with expensive factories there, such as Hyundai and Kia, are winning today. Between them, VW Group, Mercedes, Kia and Hyundai have raised their share of the European market to 35.5 percent in the eight months to end August 2012, from 30 percent in the same period of 2010.... Read More »
Europe hit by biggest car sales drop in almost 2 yearsOct. 16, 2012 10:04 CET  European new-car sales plunged the most in almost two years, with Renault and Fiat posting the steepest declines, as the region's sovereign-debt crisis led to reduced demand in Germany, its largest economy.... Read More »
Marchionne says European car market has not bottomed outSept. 24, 2012 14:31 CET The European car market has not yet reached the bottom of its slump, Fiat CEO Sergio Marchionne said.... Read More »
Daimler, Porsche offer signs European sales slump is spreadingSept. 22, 2012 06:01 CET  Daimler and Porsche provided evidence that the worst European car market in 17 years has started to spread to the luxury brands, mirroring a broader recession that has spilled from southern Europe to Germany.... Read More »
Daimler, Porsche offer signs European sales slump is spreading 5:49 am U.S. ET | Sept. 21, 2012  Daimler and Porsche provided evidence that the worst European car market in 17 years has started to spread to the luxury brands, mirroring a broader recession that has spilled from southern Europe to Germany.... Read More »
Marchionne will not close Fiat factories in Italy, report saysSept. 18, 2012 09:31 CET  In a response to calls for clarity about Fiat's future investment plans, Fiat CEO Sergio Marchionne told an Italian newspaper that the automaker will not close any of its six Italian factories despite a plunging domestic car market.... Read More »
Spain VAT hike sends car sales down 28%Sept. 17, 2012 14:16 CET  Car sales in Spain fell dramatically in the first two weeks of September following a hike in value-added tax, car retailers association Ganvam said.... Read More »
Fiat will cut hours rather than shut Italian plant, unions saySept. 13, 2012 09:14 CET  Fiat aims to avoid plant closures in Italy by putting factories on short-time work through the autumn as Europe's auto industry struggles with weak demand and excess production, according to union sources.... Read More »
French minister: PSA should cut in Spain, not just in FranceSept. 13, 2012 14:40 CET  France's industry ministry is pressing the country's leading carmaker PSA to limit the impact of a domestic restructuring set to claim 8,000 jobs, by shifting part of the cuts burden to Spain.... Read More »
Montezemolo predicts record Ferrari sales, profit this yearAug. 28, 2012 09:52 CET  Ferrari is "on track to make this year another record year," according to Chairman Luca Cordero di Montezemolo. He foresees the Fiat supercar subsidiary setting new all-time highs for both unit sales and operating profit.... Read More »
Phantom car sales in Germany show extent of European debt crisisAug. 17, 2012 06:15 CET  Germany has been seen as a bright spot in an otherwise bleak European car market this year. But the situation isn't as good as it looks. With the debt crisis suffocating car demand in other markets, automakers are pushing for sales in Europe's biggest economy regardless of whether customers are really interested in buying or not.... Read More »
Italians give up Ferraris, Maseratis as austerity measures biteAug. 15, 2012 06:01 CET  The 204,000 euro Ferrari 458 Italia has never been a particularly common sight, even on the autostrade of its native Italy. Today, it's becoming even rarer as austerity measures drive Ferrari owners to export their supercars by the truckload.... Read More »
UK car sales rose 9% in JulyAug. 6, 2012 13:29 CET  UK new-car sales rose for a fifth consecutive month in July in contrast to other major European markets, which saw demand drop. Registrations grew by 9.3 percent, the strongest monthly rise this year.... Read More »
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 Dealer O.C. Welch's big-truck turnaroundAfter Mercury's demise, South Carolina Ford-Lincoln dealer O.C. Welch had to find a way to replace lost revenue. He decided to load up on Super Duty pickups – and sell them online. Mon., June 17» Watch the Video |
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