Headlines for Wednesday, January 9, 2013
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Hyundai picks former Russia boss to head Europe unit
Hyundai has appointed former Russia boss Byung Kwon Rhim to head its growing operations in Europe. Rhim, 52, also has held several marketing positions within Europe and previously headed the Europe division at Hyundai's headquarters in Korea. Read More »
Smaller, smarter cars to star in Detroit
Next week's Detroit auto show will demonstrate that automakers are finding ways to provide sharp looks and speed, even as cars are shrinking to save fuel. Audi may show the RS7, a high-performance version of the A7, while Chevrolet will unveil a redesigned Corvette. Read More »
Renault to increase production in Turkey on recovering local demand
Renault plans to increase local production in Turkey to take advantage of a market expected to grow slightly in 2013. The automaker aims to use as much as 92 percent of the 360,000 vehicles-a-year capacity at its Bursa plant this year, compared with almost 86 percent in 2012. Read More »
PSA 2012 deliveries drop on Europe, Iran
PSA vehicle deliveries dropped 16.5 percent to 2.97 million last year as the struggling automaker lost ground in the European market and withdrew from Iran. Read More »
Russia car output to soar, but not without risks
Russia's auto industry is in danger of sliding into the same overcapacity problem as the rest of Europe, analysts say. The warning comes after contract manufacturer Avtotor Holding became the latest to announce a major investment in Russian auto production. Read More »
Overcapacity in Russia?
Automakers for months have been announcing plans to add local manufacturing in Russia. The list of companies planning to increase output includes VW, Nissan and Ford. But when Russian sales unexpectedly fell flat in November it caused concern. Read More »
France seeks EU approval for PSA aid, report says
The French government has officially sought approval from the European Union for its 7 billion euro ($9.2 billion) state loan guarantee for PSA's financing arm, a French newspaper reported today. Read More »
Japanese automakers take aim at Europe's growing wagon segment
The European market for compact station wagons is becoming more competitive after Honda said it will join Toyota in adding a wagon variant to its Civic lineup. Read More »
