Headlines for Tuesday, April 24, 2012
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Ford will suspend production at Fiesta plant in Germany
Ford will suspend production at its plant in Cologne, Germany, for as many as eight days before the summer break starts in July because of falling sales in southern Europe. Read More »
Faurecia first-quarter sales rise on N. America, Asia demand
French supplier Faurecia, the world's biggest maker of car interiors and exhaust systems, confirmed its full-year targets after posting an 8.4 percent gain in quarterly sales, helped by strong demand in North America and Asia. Read More »
VW says it will add seventh factory in China
Volkswagen will invest about 170 million euros ($225 million) to build a new plant in Urumqi, western China, capable of making 50,000 vehicles annually starting in 2015, the company said. Read More »
Nissan's Ghosn sees yen as '1,000-pound gorilla' hampering sales
Nissan said its sales may reach 10 trillion yen ($123 billion) this year depending on the strength of a currency that CEO Carlos Ghosn compared to an over-sized ape. Read More »
China's luxury market will remain a bright spot despite slower growth
General Motors, Daimler, BMW, Audi and PSA are counting on China to maintain growth for their premium offerings, although they expect luxury car sales to rise at a slower pace amid higher fuel costs and a decelerating economy. Read More »
Automakers to speed parts-validation process on resin shortage
Automakers led by General Motors and Volkswagen drafted a plan to expedite their parts validation processes as the industry tries to counter a shortage of resin used for making fuel and braking components. Read More »
Akerson: Opel will take time to turn profit
GM CEO Dan Akerson said it will be “a while” before Opel turns a profit, and he wouldn't rule out closing factories as he restructures the automaker's money-losing German unit. He described the carmaker's European operations as a “four-alarm fire.” Read More »
Maserati Kubang concept makes final show stop
Maserati says that the Beijing auto show will be the fourth and final auto-show appearance for its Kubang SUV concept. "After Beijing, we will retire the Kubang concept. Our SUV will reappear in its production form and with its final name in due time," Maserati CEO Harald Wester said. Read More »
