Cost Cutting

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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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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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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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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Daimler launches new Mercedes cost-cutting drive to help reach profit goal

Feb. 5, 2015 14:39 CET

Daimler will launch a new efficiency program at its Mercedes cars unit to dampen the acceleration in its growing cost base as the company seeks to achieve record vehicle sales, revenue and profits for 2015....
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VW could beat 5 million euro savings goal, exec says

Jan. 29, 2015 16:09 CET

VW Group ought to be able to cut costs at its passenger-car brand by "substantially more" than the 5 billion euros ($5.7 billion) planned by the carmaker's top management, VW works council chief Bernd Osterloh said....
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Automakers' efforts to cut costs damages supplier relations, survey says

12:01 am U.S. ET | Dec. 22, 2014

Relations between automakers and suppliers are deteriorating largely because of intensifying cost-cutting demands, according to a survey....
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Suppliers hit back against automakers' cost-cut demands

Dec. 12, 2014 06:01 CET

Relations between automakers and suppliers are deteriorating as vehicle manufacturers seek annual price decreases as high as 10 percent, according to the 2014 Global OEM-Supplier Relations Study conducted by IHS Automotive....
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How Renault is cutting costs through more synergies with Nissan

Nov. 10, 2014 06:15 CET

Thierry Bollore has the task of boosting synergies with alliance partner Nissan in his role as chief competitive officer and joint No. 2 at Renault. Bollore spoke about this challenge and other future plans with Automotive News Europe....
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Lotus boss will add dealers, cut costs to return struggling brand to profit

Nov. 6, 2014 06:01 CET

New Lotus CEO Jean-Marc Gales has launched a cost-cutting plan at the money-losing automaker that will include axing over a quarter of employees. The former No. 2 at PSA says his next task is to add more dealers....
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Audi wants $2.5 billion in annual cost cuts to offset tech spending, reports say

9:01 am U.S. ET | Oct. 8, 2014

Audi wants to rein in costs by about $2.5 billion a year to offset surging spending on new technology, according to people familiar with the matter....
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Audi seeks to reduce annual costs by 2 billion euros, report says

Oct. 8, 2014 14:45 CET

Audi wants to reduce annual costs by about 2 billion euros ($2.5 billion) to safeguard profit margins, sources said. The automaker will seek to limit expenditure growth in areas such as development, purchasing and manufacturing, the sources said....
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Mercedes reorganizes manufacturing operations to reduce costs

Sept. 10, 2014 11:44 CET

Mercedes is reorganizing its manufacturing operations away from a production network controlled by individual factories to a leaner system centered around vehicle architectures and model lines....
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