Headlines for Thursday, April 18, 2013

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2013 SHANGHAI AUTO SHOW

Mercedes unveils GLA concept

April 18, 2013 09:01 CET
Mercedes released pictures and details of the Concept GLA ahead of its debut at the Shanghai auto show. The production version will launch next year as a competitor to the BMW X1 and Audi Q3.

AvtoVAZ to lower sales forecast on weak Russian market

April 18, 2013 15:57 CET
AvtoVAZ, Russia's largest carmaker, will cut its 2013 sales and production forecasts due to the weak state of its home market, the company's CEO said. "We saw a certain decline in sales in March," Igor Komarov said.

Automakers will likely lower targets as German car sales plunge

April 18, 2013 17:34 CET
Daimler and other global automakers will probably have to lower their forecasts after demand in Germany dropped the most in 2 1/2 years. The plunge in the German market is prompting companies to increase discounting, in turn pressuring earnings.

BMW plans perks to win EV customers

April 18, 2013 08:34 CET
BMW will offer extra services to attract drivers to its "i" electric-car lineup, including occasional use of fuel-powered models.

PSA mulls Aulnay plant closure this year, sources say

April 18, 2013 14:34 CET
PSA may shut its Aulnay plant near Paris as early as September, ahead of a proposed closure in 2014, because strikes are disrupting production, according to sources.

Volvo to report big operating loss in China, paper says

April 18, 2013 11:07 CET
Volvo is set to report an operating loss in China for 2012 of between 2 billion to 4 billion Swedish crowns ($308 million to $615 million) as weak car sales and a costly new factory weighed on results, a Swedish daily newspaper reported on Thursday.

Airbag maker Takata to book $307 million loss after Japan autos recall

April 18, 2013 09:31 CET
Takata, the airbag manufacturer that last week was cited in the recall of 3.4 million vehicles made by Japanese automakers, said on Thursday it will book an annual extraordinary loss of $307 million.

GKN's first-quarter profit falls on auto-industry volatility, restructuring costs

April 18, 2013 13:27 CET
UK supplier GKN said today that first-quarter profit fell 4 percent after its auto-parts unit was hit by a restructuring charge and falling vehicle production in Europe, Japan and India.

BMW, VW supplier SGL issues profit warning

April 18, 2013 12:34 CET
SGL Carbon, which is partly owned by the BMW and VW groups, reduced its profit outlook because of a "slow start" to the year, particularly for its graphite-materials and carbon-fiber units.

Bosch sees sales gain of 4% in 2013 on growth outside Europe

April 18, 2013 10:04 CET
German supplier Bosch forecasts its sales will increase as much as 4 percent this year as growth outside Europe makes up for a recession in the region.

Recall of airbags shows risk of global supply chains

April 18, 2013 06:01 CET
A massive vehicle recall by four Japanese automakers because of faulty airbags underscores the perils of huge global supply chains as companies increasingly rely on a handful of suppliers for common or similar parts.

 
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