Cost Cutting

AutoNation cuts inventory, jobs

12:01 am U.S. ET | Feb. 1, 2016

AutoNation will trim marketing costs and vehicle inventory by about 10 percent from year-end levels. It already has cut jobs in light of increased discounting, plateauing sales and declining vehicle margins, all of which trimmed its fourth-quarter earnings....
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NICK GIBBS

BLOG: Aston Martin asks suppliers for cost cuts

9:31 am U.S. ET | Jan. 14, 2016

Aston Martin is asking suppliers to reduce costs by 10 percent annually as part of wider cost-cutting moves as the niche automaker adopts the practices of a mass-market manufacturer in seeking to become consistently profitable....
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THE VW DIESEL CRISIS

VW will save 1.9 billion euros by reducing variants

Nov. 27, 2015 16:08 CET

VW Group has identified about 1.9 billion euros ($2 billion) in savings at its core brand that include reducing variants and trim options in a bid to help offset fines and recalls stemming from the manipulation of vehicle emissions....
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THE VW DIESEL CRISIS

VW will delay China JV stake increase due to scandal costs

Nov. 19, 2015 12:43 CET

VW is delaying its plan to boost its stake in its joint venture with China's FAW Group after reviewing the investment in the wake of its emissions-cheating scandal....
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THE VW DIESEL CRISIS

VW's Seat brand in focus as group seeks cost cuts

Nov. 12, 2015 14:40 CET

Volkswagen has stood by its Seat brand through years of losses, but the spreading diesel-emissions scandal will test the group's loyalty to the Spanish unit as CEO Matthias Mueller seeks to make cuts....
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THE VW DIESEL CRISIS

VW sticks to $24 billion China spending plan amid cost cuts

Oct. 30, 2015 12:02 CET

Volkswagen will protect its $24 billion expansion plan in China from cost cuts, emphasizing the importance of its No. 1 market in helping to stem the fallout of the diesel-emissions scandal....
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THE VW DIESEL CRISIS

VW's 12-brand empire under scrutiny as costs of emissions scandal mount

Oct. 20, 2015 10:43 CET

Faced with billions of euros in costs for its emissions cheating scandal, VW may have to consider overhauling its 12-brand empire. Robust profits from Porsche and Audi may no longer be enough to fund financially struggling divisions such as Seat and Bugatti, industry watchers say....
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VW seeks $3.4 billion in savings from suppliers, report says

Oct. 12, 2015 19:06 CET

VW wants to extract $3.41 billion in price cuts from its suppliers as part of a broader cost-cutting program to help mitigate the costs of the emissions scandal that has rocked the company, a German newspaper reported....
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THE VW DIESEL CRISIS

VW's workforce feels effects of emissions scandal

Oct. 1, 2015 15:17 CET

VW Group's global workforce of 600,000 employees is starting to feel the effects of the diesel-emissions scandal as the carmaker cuts spending, drops shifts and freezes hiring in anticipation of fines, recalls and a drop in U.S. sales....
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Hyundai, Kia will cut costs as sales, profits decline

June 9, 2015 11:41 CET

Hyundai and Kia will cut costs after first-quarter sales and profit fell at the carmakers. Sales have been hit by weak SUV demand in China and a strong currency, which has helped Japanese rivals gain a competitive edge in overseas markets....
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Marchionne asks investors for help persuading GM to merge with Fiat Chrysler, report says

June 9, 2015 09:01 CET

Fiat Chrysler Automobiles CEO Sergio Marchionne is reaching out to hedge funds and activist investors to help persuade General Motors to agree to a merger, the Wall Street Journal reported, citing people familiar with the matter....
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AUTOMOTIVE NEWS EUROPE E-MAGAZINE

Mercedes r&d chief aims to make automaker faster

April 8, 2015 06:15 CET

Mercedes r&d boss Thomas Weber says the automaker needs to react faster to emerging trends if it wants to rise to No. 1 in premium car sales by 2020. He explained the shift in his team's focus toward areas such as connectivity, autonomous driving and zero emissions to Automotive News Europe....
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AUTOMOTIVE NEWS EUROPE E-MAGAZINE

PSA CEO reveals the next steps in automaker's revival

April 7, 2015 06:15 CET

PSA/Peugeot-Citroen CEO Carlos Tavares discussed the challenges the automaker needs to overcome to complete its turnaround, including boosting scale, improving net pricing and giving customers options they really value....
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AUTOMOTIVE NEWS EUROPE E-MAGAZINE

Bold moves, positive results highlight Tavares' 1st year as PSA boss

April 6, 2015 06:15 CET

PSA CEO Carlos Tavares has succeeded in putting the automaker back on track a year after its 3 billion euro bailout. He has returned PSA to France’s benchmark CAC-40 stock index and implemented cost cuts that helped the automobile division record its first operating profit in three years in 2014....
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SGL eyes more cutbacks on weak graphite electrode markets

March 18, 2015 16:59 CET

Germany's SGL, the materials supplier for carbon fiber reinforced parts in BMW Group's electric cars, has stepped up cost cutting efforts again to grapple with a difficult market for graphite electrodes used in steel recycling....
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VW identifies half of planned 5 billion euros in cuts

March 12, 2015 11:50 CET

VW Group has identified cost cuts worth about half of the planned 5 billion euro ($5.29 billion) target at its core passenger-car brand. VW could discontinue its three-door Polo as part of the savings program, CEO Martin Winterkorn said, a move that would save millions....
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Daimler plans years of cost cuts to offset investments to reduce CO2 emissions

Feb. 26, 2015 10:26 CET

Daimler plans to offset higher costs for technology to cut CO2 emissions with material cost savings for at least the next few years, Chief Financial Officer Bodo Uebber said....
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