News [7]

Porsche invests in Israeli start-up TriEye
22.August 2019

Porsche has acquired a minority stake in the Israeli start-up, TriEye. The newly established company has developed a sensor technology for short-wave infrared (SWIR).

Slovakia’s car-reliant economy slows
16.August 2019

Slovakia’s economy, dominated by automakers including Volkswagen Group, PSA Group, Kia and Jaguar Land Rover, slowed unexpectedly in the second quarter when it expanded by 1.9 percent, down from a 3.7 percent rise in the first quarter and missing analysts’ expectations of 3.3 percent growth.

FCA will avoid EU CO2 fines in 2019
12.August 2019

Fiat Chrysler Automobiles CEO Mike Manley said the automaker will not have to pay fines for failing to comply with tougher European CO2 regulations in 2019 and 2020.

Suzuki posts 46% quarterly profit decline
9.August 2019

Suzuki reported a 46 percent fall in first-quarter operating profit, hurt by lower output at home as it improves its inspection systems, and falling demand in India, its biggest market.

German sales rise 5% in July 2019
5.August 2019

New-car sales in Germany rose 4.7 percent in July, boosted by demand at Land Rover, Lexus and BMW. Overall registrations were 332,788 for the month, according to data released by the KBA Motor Transport Authority.

Ford, BMW execs warn on no-deal Brexit risks
1.August 2019

Ford warned on Thursday that the chances of a no-deal Brexit have risen in the last few months as new Prime Minister Boris Johnson ramps up preparations for a possible disorderly exit in October.

Nissan will cut 12,500 jobs worldwide
25.July 2019

Nissan Motor Co. CEO Hiroto Saikawa will slash some 12,500 jobs worldwide as part of new plan to revive the company after reporting a 99 percent plunge in operating profit in the latest quarter on falling sales in every major market except China.

Ghosn sues Nissan-Mitsubishi for $17M
24.July 2019

Carlos Ghosn has launched a court case in the Netherlands against Nissan Motor and Mitsubishi Motors, who ousted him as chairman of their alliance last year on charges of embezzlement, Dutch newspaper NRC reported on Saturday.

Volvo recalls 507,000 vehicles globally
23.July 2019

Volvo is recalling 507,000 vehicles worldwide because of a faulty engine component that, in extreme cases, could result in a fire. Volvo said its own investigations have identified that “in very rare cases the plastic engine intake manifold may melt and deform.”

BMW prepares to pick new CEO
18.July 2019

BMW’s supervisory board will discuss new leadership at the automaker’s U.S. plant in Spartanburg, South Carolina, later on Thursday, and is expected to name Oliver Zipse as its new CEO, after 53-year-old Harald Krueger said he would not be available for a second term as CEO.

VW ends Beetle production in Mexico to make room for SUV
12.July 2019

Volkswagen rolled the last Beetle off the assembly line on Wednesday, the end of the road for a car that ran from Nazi Germany through hippie counterculture but failed to navigate a swerve in consumer tastes toward crossovers and SUVs.

VW, Ford deepen ties with deal on EV, AV tech
12.July 2019

Volkswagen Group and Ford Motor Co. are expanding their budding alliance to collaborate on development of electric and autonomous vehicles, with the German automaker investing $2.6 billion in cash and assets in Argo AI, and Ford agreeing to use VW’s flexible electric vehicle platform for a future battery electric vehicle in Europe.

EU regulators to investigate Spanish aid for PSA
2.July 2019

EU antitrust regulators opened an investigation on Monday into Spain’s plan to grant 20.7 million euros ($23.4 million) to PSA Group’s plant in the north west of the country, concerned that this may breach the bloc’s state aid rules.

Ford to cut about 20% of Europe workforce
27.June 2019

Ford will eliminate about 20 percent of the workforce across its European operations in a sweeping overhaul that reflects the challenges facing automakers in the region.