Industry

Volkswagen Cutting Costs to Increase European Profits on Low Sales

Volkswagen Cutting Costs to Increase European Profits on Low Sales

A German magazine says that the MQB platform is costing more than expected

Volkswagen is trying to find ways to cut costs as the European auto market continues to fall, and a report in the German business publication Manager Magazin claims that VW Group may miss its 2015 profit goals due to slow growth and higher th...
24.09.2013 | 900 views | 0 comments
Chrysler Officially Files Initial Public Offering Paperwork

Chrysler Officially Files Initial Public Offering Paperwork

It has not yet announced the stock price or number of shares offered

Chrysler Group has officially filed its paperwork for its initial public offering, which will put it on the public stock market in the United States. Chrysler has not announced the initial stock price or the number of shares that will be offered. ...
24.09.2013 | 563 views | 0 comments
GM Purchasing Back $3.2 Billion in Stock from VEBA

GM Purchasing Back $3.2 Billion in Stock from VEBA

It reduced VEBA share in GM roughly by half.

General Motors will purchase 120 million shares of its own stock from VEBA, the United Auto Workers Retiree Medical Benefits Trust for $3.2 billion, $27 per share on September 30. To raise money to pay for the shares, GM will offer bonds in the co...
23.09.2013 | 495 views | 0 comments
BMW Brand Gets New Heads of Interior, Exterior and Color Design

BMW Brand Gets New Heads of Interior, Exterior and Color Design

Adrian van Hooydonk still leads BMW Group design

BMW has made major changes in its design department in the last few weeks. Adrian van Hooydonk still leads BMW Group Design, which puts him in charge of the final say in all of the group’s vehicles and concepts, but he has many new employees...
23.09.2013 | 4719 views | 0 comments
Toyota Will Build Rav4 in Russia Starting in 2016

Toyota Will Build Rav4 in Russia Starting in 2016

It is the company's bestselling model in Russia

Toyota will begin building the Rav4 in Saint Petersburg, Russia, in 2016 and double production from the factory to 100,000 units a year. The factory will get a €135 million upgrade and add 800 employees to build the Rav4. The Russian-built mo...
20.09.2013 | 6856 views | 0 comments
Audi Investing €150 Million in Brazil to Build A3 Sedan and Q3

Audi Investing €150 Million in Brazil to Build A3 Sedan and Q3

The cars will begin production in 2015 from locally sourced parts

Audi is adding another production facility in the Americas with the announcement that it will build the Q3 and A3 Sedan in São José dos Pinhais, Brazil. It will invest €150 to build the car and plans to begin production in 2015....
20.09.2013 | 928 views | 0 comments
US Government Sells More Than Half of Its Remaining Shares in GM

US Government Sells More Than Half of Its Remaining Shares in GM

Its current stake in the company is 7.3%

The United States Treasury Department has held to its word and reduced its stake in General Motors from 60.8% in 2009 down to 7.3% as September 13. From May 6 to September 13, the Treasury sold 110 million shares for $3.82 billion. It says that it...
19.09.2013 | 506 views | 0 comments
Marchionne Gambling by Putting Chrysler on the Stock Market

Marchionne Gambling by Putting Chrysler on the Stock Market

He is hoping it brings VEBA to the bargaining table

Fiat CEO Sergio Marchionne’s decision to file paperwork for an initial public offering for Chrysler on the American stock exchange is seen as a huge gamble in his attempt to buy Chrysler from VEBA, the medical pension for the United Auto Wor...
19.09.2013 | 582 views | 0 comments
Ford Will Add New Models in Europe to Prepare for Market Comeback

Ford Will Add New Models in Europe to Prepare for Market Comeback

It will add 25 new vehicles in Europe through 2017

It seems that the European auto market may be reaching its lowest point, which means that things can only get better. The market was down 5% in August and hit its lowest levels since 1990. Ford wants to be ready for the comeback and is attempting ...
18.09.2013 | 5017 views | 0 comments
German Chancellor Is Fighting Against Lower CO2 Limits for Automakers

German Chancellor Is Fighting Against Lower CO2 Limits for Automakers

She is facing re-election and is looking for support

German Chancellor Angela Merkel faces re-election on September 22 and is looking for support wherever she can find it. During the Frankfurt Motor Show, she came out in support of German automakers and promised to fight against lowered CO2 emission...
17.09.2013 | 732 views | 0 comments

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