Economy

Luxury car sales surge in Russia despite crisis

Feb. 3, 2016 16:34 CET

More and more Porsche, Bentley and Rolls-Royce cars are appearing on Russian roads as wealthy buyers take advantage of a weak ruble that means luxury cars are considerably cheaper in Russia than in the U.S....
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Say goodbye to the golden days, analyst says

12:01 am U.S. ET | Feb. 1, 2016

Max Warburton, an analyst at Sanford Bernstein whose colorful client notes get lots of attention, authored one in January called “The End of an Era,” in which he paints a bleak portrait of the coming years....
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Western automakers hit hard as Russia car sales fell 36% in 2015

Jan. 14, 2016 12:36 CET

Russia's car sales plunged by 36 percent in 2015 in a disastrous year for Western automakers with operations in the country. The pace of the market's decline is set to slow this year, industry insiders said....
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Daimler still plans Mercedes plant in Russia despite weak market

Jan. 13, 2016 06:01 CET

Daimler remains committed to adding a plant in recession-hit Russia to support the 'remarkable' performance of its Mercedes brand, CEO Dieter Zetsche said....
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Continental expects slower growth this year after 14% revenue rise in 2015

Jan. 11, 2016 13:14 CET

Continental expects a sales revenue increase of about 5 percent this year after a 14 percent jump in 2015....
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Detroit 3 lost 3.5M in sales. Who found them?

12:01 am U.S. ET | Jan. 11, 2016

The last, and only time U.S. light-vehicle sales were in the neighborhood of 17.5 million vehicles, in 2000, the market was markedly different....
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Forecasters see U.S. sales up this year, but softer 2017

4:00 pm U.S. ET | Jan. 10, 2016

Sales of new vehicles in the U.S. are cruising towards a new record in 2016, analysts agree, though they add that sales may then soften in 2017. In addition, Tom Webb, Cox Automotive's chief economist, warns of an “unhealthy disregard for the downside risks.”...
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Ferrari, Porsche gain from Australia car-sales boom

Jan. 9, 2016 06:01 CET

Ferrari and Porsche are among automakers benefiting from a booming Australian car market. Sales of new vehicles in Australia increased to a record to 1.16 million last year, helped by a property boom....
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Czech new-car sales jump to record in 2015

Jan. 8, 2016 12:17 CET

Czech new-car sales rose 20 percent in 2015 to a record number on the back of a fast-growing economy....
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AUTOMOTIVE NEWS EUROPE E-MAGAZINE

Europe's car sales to rise again; little backlash expected from VW scandal

Jan. 4, 2016 06:15 CET

Europe's car market is set to expand in 2016 for the third straight year driven by a continued recovery of key southern European economies, following a strong 2015 that topped even the most bullish expectations of analysts and forecasters....
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Hyundai, Kia forecast slowest sales growth in 10 years

Jan. 4, 2016 11:04 CET

Hyundai and sibling brand Kia forecast their weakest sales growth in ten years for 2016 as a slump in China and a stronger won cuts profits. The automakers missed their sales target set for 2015....
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Russia to spend $275 million in first half to help car industry

Dec. 29, 2015 20:15 CET

Russia's government will spend $275 million to support the car industry in the first half of 2016. New-car sales in the country took their biggest hit this year in November....
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Fed rate increases unlikely to slow down the car business

9:29 am U.S. ET | Dec. 16, 2015

As the Federal Reserve increased interest rates today by a quarter of a point, the buzz in places such as Kokomo, Indiana, is one reason policymakers think the U.S. recovery has room to run....
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Russian car sales plunge 43% in November

Dec. 8, 2015 12:47 CET

Russian car sales plunged 43 percent in November, the biggest monthly drop this year, as a weakening ruble continued to hit demand. Ford, GM and Toyota each saw volume decline more than the overall market last month....
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France opposes changes to Renault-Nissan structure

Nov. 25, 2015 21:52 CET

France's decision to secure double voting rights in Renault should not result in any changes to the structure of the automaker's partnership with Nissan, the country's economy minister said. Sources say Renault-Nissan CEO Carlos Ghosn wants to give Nissan more say over the alliance....
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THE VW DIESEL CRISIS

VW troubles offset by refugee boost in German economy

Nov. 25, 2015 15:36 CET

The positive impetus, in economic terms, from the influx of refugees to Germany will likely offset the negative effect of Volkswagen Group's emissions-cheating scandal on the country's growth....
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Industry execs see era of slower sales growth in China

Nov. 22, 2015 23:34 CET

Executives gathered last week at the Guangzhou auto show were unanimous in their view that the days of exponential growth are over, underscoring how a sharp economic slowdown has tempered expectations in the world's largest car market....
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AUTOMOTIVE NEWS EUROPE E-MAGAZINE

Tavares outlines PSA's product, technology offensive

Nov. 3, 2015 06:01 CET

PSA/Peugeot-Citroen CEO Carlos Tavares is convinced that the good times at the automaker have only just begun as the company readies a product and technology offensive that will help counteract Russia's sales slump and China's slowdown....
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When's the next downturn? Watch these 2 numbers

12:01 am U.S. ET | Nov. 2, 2015

When do will the good times stop rolling in the U.S. auto industry? To anticipate the next downturn, a new Standard & Poor's report says automakers and suppliers should keep an eye on two key indexes....
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YANG JIAN

China's tax break will sting later

12:01 am U.S. ET | Oct. 26, 2015

On Oct. 1, the central government slashed the purchase tax on small cars to 5 percent from 10 percent. The tax cut is intended to boost sales through 2016, after which it expires. But the incentive, which applies to vehicles with engine displacements of 1.6 liters or less, will do more harm than good to China's domestic automakers....
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Japan brands' impact on U.S. economy expands, study says

12:01 am U.S. ET | Oct. 24, 2015

Japanese automakers delivered record contributions to the U.S. economy last year, both in the number of people it employs and in workforce compensation, driven by booming sales, ramped up U.S. production and exports from North America....
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AUTOMOTIVE NEWS EUROPE E-MAGAZINE

How digital prototyping is cutting development time and costs for new models

Oct. 17, 2015 06:01 CET

The move to “digital prototyping” has helped reduce the development time of a new model to 24 months from 36 months, resulting in lower costs and a fresher product portfolio, industry executives say....
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UK car production forecast cut on sluggish Europe

Oct. 13, 2015 11:25 CET

Automakers will build about 1.8 million cars in 2017 in the UK, less than the 1.95 million originally expected, due to more sluggish growth in Europe, an industry body said....
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HANS GREIMEL

BLOG: Why TPP gives Japanese automakers an edge

7:42 am U.S. ET | Oct. 7, 2015

Compared with the disgruntled murmuring from Detroit, the reaction of Japanese automakers to this week's historic Trans-Pacific Partnership trade pact was one of elation. And rightly so....
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THE VW DIESEL CRISIS

VW's deep political ties in Germany seen as a key asset

Oct. 3, 2015 06:01 CET

At VW Group, political connections come already fitted. The company's political and economic power -- about a third of VW's almost 600,000 positions are in Germany -- ensures the scandal engulfing VW is too big a threat to national prosperity for the government to be a neutral observer....
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