Headlines for Tuesday, March 19, 2013

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PSA reaches deal with majority of French workers on restructuring

March 19, 2013 06:01 CET
PSA has struck a deal with five French unions, representing 76 percent of its workforce, over severance packages that the automaker will offer employees as it seeks to reduce its headcount in the country by 17 percent.

NEW PRODUCT

BMW X4 to lure new buyers to brand, sales boss says

March 20, 2013 00:03 CET
BMW's new X4 model will bring a new type of customer to the brand, sales chief Ian Robertson said. The X4 will launch next year as a sportier version of the X3 SUV with a lower roofline and coupe styling. It follows BMW's launch of the coupe-styled X6 as a sportier alternative to the X5.

NEW PRODUCT

Bentley may build its new SUV in Slovakia

March 19, 2013 19:16 CET
Bentley may build a planned SUV in Volkswagen's factory in Slovakia. The brand's CEO Wolfgang Schreiber said VW could give a green light for production in the next few weeks and it may opt to build the SUV outside the UK.

EUROPEAN SALES

Ford, GM and Fiat worst hit by 10% drop in European car sales in February

March 19, 2013 10:34 CET
Ford, General Motors and Fiat were the automakers worst hit as European passenger car registrations fell 10 percent last month to their lowest February level for 23 years. The region's deepening recession continued to deter customers from buying cars despite steep discounting.

COMPANY EARNINGS

Fiat says profit to fall as Jeep shortage adds to Europe woes

March 19, 2013 19:34 CET
Fiat warned first-quarter earnings will fall as U.S. delivery snags at Chrysler Group's Jeep brand compound the effects of Europe's sales slump.

NEW PRODUCT

Suzuki expects a big sales boost from larger SX4

March 19, 2013 13:53 CET
Suzuki expects a sales boost for its SX4 crossover after moving the car into a larger segment. The SX4 will compete against models such as the Nissan Qashqai.

COMPANY EARNINGS

McLaren Automotive will post 2012 loss but is positive on future earnings

March 19, 2013 13:25 CET
McLaren Automotive will be profitable next year after posting a loss for the year ending March 31, Managing Director Mike Flewitt said.

COMPANY EARNINGS

BMW forecasts flat 2013 profit on Europe decline

March 19, 2013 11:34 CET
BMW forecast unchanged 2013 pretax profit as European auto sales drop and the automaker increases spending to bring out 25 new models in the next two years. Pretax profit climbed 6 percent to 7.82 billion euros ($10.1 billion) in 2012.

ELECTRIC CARS

BMW details driving range of i3 EV

March 19, 2013 13:32 CET
BMW says its i3 EV, which will begin sales in Europe, the United States and China this year, can cover up to 220 kilometers (136 miles) on a single battery charge, which can be extended up to 350 kilometers using an optional range extender.

Volvo said to win China approval to begin local car production

March 19, 2013 07:04 CET
Volvo is said to have won the approval of China's main industry planner to begin making vehicles in the country. The automaker, which is owned by China's Geely, has set itself the target of boosting local sales to 200,000 by 2020 from 41,989 last year.

 
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Europe's automakers boosted shareholder value 41% in first quarter
The average shareholder value of Europe's listed automakers improved by 41 percent, outpacing European and U.S. ...
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W. Europe car sales rise nearly 7% on new models, discounts
New-car sales in Western Europe increased by 6.7 percent in April -- helped by a continuing economic ...
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German car sales rise 6% in sign of Europe rebound
German car sales rose 6.3 percent in April as Europe's No. 1 market joined France, Italy and Spain i ...
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Italy sales rose by 25% in April boosted by big discounts
Italy's new-car registrations rose 24.7 percent in April to 148,807, boosted by heavy discounting by ...
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Europe recovery continues in March
European car sales increased 11 percent in March, the strongest growth in a year, as the region's im ...
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Western European sales recovery accelerated in March
Western European new-car sales rose nearly 11 percent in March, helped by an increasing willingness ...
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Russian new-car sales fall 43% as economy slides
Russian new-car sales fell 43 percent last month as a weak currency, falling oil prices and Western ...
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UK sales rise 6% in best March this century
British new-car registrations rose by 6 percent in March to 492,774 vehicles, a record for the month ...
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Germany's 9% sales rise a positive sign of Europe's continued rebound
New-car sales in Germany increased 9 percent last month, the VDA industry association said. ...
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France, Italy, Spain sales growth in March encourages European recovery hopes
New-car registrations rose in France, Italy and Spain last month, adding to signs that the European ...
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GM promotes former Opel engineer to Asian tech center chief
General Motors named former Opel engineer Tobias Suenner as president of its technical center in Shanghai. ...
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Citroen names former BMW exec as China director
Former BMW executive Sabine Scheunert is the new head of Citroen in China. ...
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Borgward revival led by former Daimler China boss
Borgward named former Daimler China boss Ulrich Walker as its CEO as the company prepares to resurre ...
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Mopar head Gorlier gets additional component role
Pietro Gorlier, the head of Fiat Chrysler Automobiles' global parts and service organization, has be ...
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Hyundai names new Europe chief
Hyundai said company veteran Hyung Cheong Kim is the new president and CEO of its European operation ...
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Hella says its finance chief will leave
Hella, a German manufacturer of auto headlights and electronics, said its finance chief Wolfgang Oll ...
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Sogefi names former Faurecia exec as new CEO
Italian supplier Sogefi has named Laurent Hebenstreit as its new CEO. ...
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Fiat Chrysler promotes Gilles to global design boss
Fiat Chrysler promoted Ralph Gilles, its chief designer in the U.S., to global head of design. Gille ...
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Hyundai names sales veteran Schmid as No. 2 in Europe
Hyundai has promoted Thomas Schmid to chief operating officer in Europe. ...
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Jaguar Land Rover names new global engineering chief
Jaguar Land Rover named company veteran Nick Rogers as its new engineering director to succeed Wolfg ...
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Kia bets on diesel demand for Sorento
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Espace starts Renault's upper-range revival
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Suzuki sees Vitara as its best-seller in Europe
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BMW targets U.S. market with 2-series softtop
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Volvo's future rides on revived XC90
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Mercedes-Maybach offers quiet luxury
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Land Rover Discovery Sport on conquest path
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Ford expects big boost from high-tech Mondeo
Ford expects a significant sales boost in the tough midsize segment from its latest-generation Monde ...
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Sportier Skoda Fabia keeps its functionality
The new Skoda Fabia highlights how the fast-growing Czech value brand is adding a touch of style to ...
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Mazda2 gets bigger, lighter and bolder
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Preh teams up with Audi on new TT's high-tech air vents
German supplier Preh teamed up with Audi to equip the TT with heating and air conditioning controls ...
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Novelis helps make the Jaguar XE lean and green
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Faurecia helps cut CO2 in new Renault Twingo
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