Headlines for Wednesday, March 21, 2012
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Volkswagen plans low-cost car brand, report says
Volkswagen is planning a low-cost car brand for emerging markets, Ulrich Hackenberg, VW's head of research and development, told a German magazine. The car will sell for about 5,000 euros, Hackenberg said. Read More »
Nissan bets on Datsun for sales push
Nissan is counting on its Datsun brand to attract a vast pool of first-time car buyers in emerging markets. Nissan is reviving the Datsun nameplate for entry-level cars in Russia, India and Indonesia. Read More »
Chinese automakers use UK as testing ground in Europe
Geely Automobile and Great Wall Motor will launch inexpensive cars in the UK this year because the companies believe they can benefit from growing demand for low-cost models during tough economic times. Read More »
Jaguar Land Rover seals Chinese JV with Chery
Jaguar Land Rover has finalized a joint venture agreement with Chery Automobile to manufacture and sell vehicles in China. The alliance will produce vehicles and engines for Jaguar Land Rover and a joint-venture brand. The partners also will establish an r&d facility. Read More »
U.S. dealer giant Penske expands into Italy
U.S. dealer giant Penske Automotive will expand into Italy via a joint venture with Bologna-based BMW-Mini dealer Andrea Mantellini and his family. The partners will buy and operate dealerships in northern Italy, the companies said in a release on Wednesday. Read More »
Continental won't change outlook in wake of China comments
Continental said it has factored slowing Chinese growth in auto sales into earnings projections and won't be revising the outlook in the wake of comments from a Chinese official on Tuesday. Read More »
Skoda is on track to boost annual production to 1.5 million
Skoda said it was well on its way to meeting its goal of producing at least 1.5 million cars a year by 2018, helped by new models and rising demand in India, China and Russia. Read More »
VW can't overturn Suzuki's GTi trademark, EU court says
Volkswagen Group can't overturn a trademark for SWIFT GTi granted to Suzuki Motor by the European Union's Office for Harmonisation in the Internal Market, the EU's General Court said. Read More »
Renault, PSA to debut flagship sedans for China
Hit by slowing sales in their home markets, French automakers Renault and PSA are hoping for a boost from China. Both companies will use next month's Beijing auto show to debut flagship sedans for the world's No. 1 auto market. Read More »
