Porsche to order more Boxsters
FRANKFURT - Porsche AG plans to increase production of its Boxster model at Valmet Automotive's car plant in Finland.
'We want to increase the production but we can't say by how much yet. This increase can only come in Finland,' Porsche spokesman Manfred Ayasse said.
Porsche, which sold almost 16,000 Boxsters in 1996-97, has been unable to satisfy demand for the roadster model. The company has used Valmet to build 5,000 Boxsters since September 1997.
Reuters News Service
PSA/Peugeot-Citroen profit rises
PSA/Peugeot-Citroen profits rose to FF2.2 billion ($369 million) in the first half of 1998, from FF500 million in the same period last year. Consolidated sales increased 15 percent to FF116 billion. The increased revenue partly reflected the takeover of Bertrand Faure by Ecia, PSA's parts subsidiary, and the acquisition of its Argentine partner, Sevel.
A 5.8 percent increase in unit sales to 1.16 million and a better product mix accounted for FF2.15 billion in added revenue. PSA also earned FF600 million from a favorable exchange rate with the British pound. PSA said production costs were down FF2.4 billion in the first half.
Valeo halts in Germany
PARIS - Valeo SA said it planned to halt production at its loss-making Hockenheim, Germany, plant and transfer the work to other sites.
Valeo took over the Hockenheim plant, which makes air conditioning and heating equipment, in 1995.
'Despite the significant support by Valeo, particularly in the technical and financial areas, the site was never able to achieve its objective of improving its industrial competitiveness and profitability. Its results were chronically negative,' said the company.
Other plant closures are likely to follow. Last year Valeo announced a two-year, three billion franc rationalization of its European activities, which would include closures.
Reuters News Service
VW deliveries up
WOLFSBURG - Volkswagen increased group deliveries in the first eight months of 1998 by 5.7 percent to around 3.1 million vehicles. VW brand deliveries were up 3.8 percent.
Reuters News Services
3 series a hit in Japan
TOKYO - BMW Japan Corp. sold almost a quarter of its 1998 target for the 318i and 328i, before it had delivered any.
BMW took 2,000 orders for the two models since 7 July, against its target of 8,500, before it started deliveries 5 September.
Now, BMW has started taking orders for the 323i - also as of 5 September - ahead of deliveries expected to begin in early November. The 323i is priced at ¥4,680,000, or about $36,000 at current exchange rates.
James B. Treece