Economy

Greek exit from euro could bring stability, German auto lobby group says

July 1, 2015 09:54 CET

Germany's auto industry lobby group, the VDA, believes a Greek exit from the eurozone may be necessary despite the setback this may bring for Europe's fragile recovery in new-car sales. Automakers are monitoring the potential effects on capital markets and exchange rates if Greece leaves the European single currency – dubbed Grexit....
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VW, FCA, GM at risk as Brazil slump worsens

June 14, 2015 06:15 CET

VW, Fiat Chrysler, GM and Ford are all likely to be hit hard by a downturn in Brazil's auto industry this year that's expected to be the worst since 1998, according to the national automakers association Anfavea....
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Czech car industry revenue rises 15% to new record in 2014

June 12, 2015 21:05 CET

The Czech car sector's revenue rose 15 percent to a record 991 billion crowns ($41 billion) in 2014, the country's Automotive Industry Association (AutoSAP) said, helped by a big increase in overall local production by automakers such as Skoda, Hyundai, Toyota and PSA....
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2015 AUTOMOTIVE NEWS EUROPE CONGRESS

Auto execs warn UK exit from EU would be 'bad for both'

June 12, 2015 09:33 CET

Multiple automotive bosses -- including the heads of four iconic British brands -- urged the UK to remain in the European Union in the interest of both sides during the Automotive News Europe Congress....
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Bentley expands in hard-hit Russia with third dealership

June 2, 2015 16:30 CET

Bentley has added its third dealership in Moscow as the carmaker anticipates that wealthier Russians will shrug off an impending recession and buy its upcoming Bentayga SUV....
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BMW partner will build X4 in Russia from U.S. kits

May 31, 2015 06:01 CET

BMW will add production of the X4 SUV in Russia with local partner Avtotor using kits shipped from the automaker's U.S. plant. BMW and rival Mercedes-Benz are keen on Russian production despite the market's downturn to avoid import tariffs....
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AUTOMOTIVE NEWS EUROPE E-MAGAZINE

Europe's biggest segment is poised for a rebound

May 15, 2015 06:15 CET

European sales of subcompact cars including the VW Polo and Ford Fiesta are forecast to rise to 23 percent of the overall auto market in 2015. The increasing popularity of small crossovers, however, means the segment will never again reach the record share seen in 2009, analysts predict....
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Spain renews scrappage program for the last time

May 13, 2015 13:00 CET

New-car sales in Spain will continue to be boosted by subsidies after the government said it will renew a scrappage program for the last time.The program has helped to fuel car sales for the last 20 months after the country fell into a severe recession....
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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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Russia may ease ruble risk for foreign automakers

May 5, 2015 08:44 CET

Russia's government is planning to introduce measures to reduce the risk of ruble volatility for foreign automakers that have localized production in the country, a report said. After several years of growth in excess of 10 percent, car sales in Russia have plunged on a weaker ruble, dampened by Western sanctions over Ukraine and a slide in oil prices....
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AUTOMOTIVE NEWS EUROPE E-MAGAZINE

How European automakers aim to keep winning in China despite market's slowdown

May 4, 2015 06:01 CET

Foreign carmakers face a tough battle in China as double-digit volume gains and fat profit margins recede and Chinese automakers make inroads into profitable segments. To combat the challenges, Volkswagen and others are focusing on low-emission models, budget vehicles and local production....
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EDITORIAL

Post-recession ripples

12:01 am U.S. ET | May 4, 2015

In December, General Motors delayed auctioning some retired rental-fleet vehicles because of depressed prices....
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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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'RATIONAL EXUBERANCE'

Industry revels in good times but manages to avoid overdoing it

12:01 am U.S. ET | April 27, 2015

There are many signs suggesting the U.S. auto industry is on a positive, sustainable track, but perhaps the most reassuring sign is the kind of caution that dealers and manufacturers are showing amid the boom....
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Bitter rivals at home, GM and Ford taking different roads abroad

12:01 am U.S. ET | April 25, 2015

General Motors and Ford, Detroit's two venerable rivals, usually compete toe-to-toe in everything they do. But in Russia, they are headed in radically different directions....
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Dealership employees, payrolls top prerecession levels

12:01 am U.S. ET | April 20, 2015

U.S. dealerships added to their employee count for the fifth year in a row last year, causing the average store's payroll to rise sharply above its pre-recession levels. The average wage of $55,000 per employee ranks as one of the highest of any retail trade....
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Europe recovery continues in March

April 16, 2015 09:15 CET

European car sales increased 11 percent in March, the strongest growth in a year, as the region's improving economy fueled demand for vehicles made by automakers such as VW Group, Renault and Fiat Chrysler. Last month 1.65 million vehicles were sold in the region....
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EDITORIAL

All in all, rescue of automakers was a success

12:01 am U.S. ET | April 13, 2015

Certainly, the governmental bodies and their respective taxpayers lost some money on the rescue of General Motors and Chrysler. But it was far less than what the cost to them and the North American economy would have been if the automakers had been allowed to fail in 2009....
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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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Volkswagen will cut production, jobs at Russian plant

March 23, 2015 11:55 CET

Volkswagen said it will reduce shifts and lay off at least 150 workers at its car plant in Kaluga, Russia, as demand shrinks. The company builds Audi, VW and Skoda cars in Kaluga....
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Russia boosts auto industry aid to $424 million

March 23, 2015 17:24 CET

Russia plans to spend more than 25 billion rubles ($424 million) in state funds to support its ailing auto industry, increasing the amount of aid it allocated last week....
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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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AUTOMOTIVE NEWS EUROPE E-MAGAZINE

Spain's Gestamp surged when main rivals slumped

March 18, 2015 06:01 CET

Spanish supplier Gestamp will continue along the growth path it started down when the auto industry was hit by the last financial crisis when it went on an expansion spree that boosted its operations in markets as far apart as Germany and China....
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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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