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Aug
1st

SOUTH AFRICA: War of words escalates as “dastardly” lock-out continues

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Both sides in South Africa's latest industrial spat are ramping up the verbal vitriol, following a major employer body's decision to lock out formerly striking metalworkers.No tags for this post.
Aug
1st

THE WEEK THAT WAS: Europe, slowly, on the up?

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While the Next Problem seems to be South America, judging by the number of times it's mentioned in the results statements for the last quarter, there are signs that, after the pain, there's some gain in Europe, at last.No tags for this post.
Aug
1st

US: Tesla loses $62m in second quarter

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Tesla booked second quarter net income of US$16m and $0.11 per share on a non-GAAP accounting basis but a loss of $62m and $0.50 per share on a GAAP basis, the automaker said in a letter to shareholders.No tags for this post.
Aug
1st

UK: Delphi Q2 income rises

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Delphi Automotive reported second quarter net income of US$382m and earnings of $1.26 per share compared to $367m and $1.17 per share a year ago.No tags for this post.
Aug
1st

SOUTH AFRICA: Ministry defends employers’ “right to strike”

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South Africa's Labour Ministry says business owners also have the right to strike as the country reels under yet another manufacturing setback.No tags for this post.
Aug
1st

GERMANY: Porsche’s half-year profit and sales rise 8%

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Porsche sold 87,800 cars in the first half of 2014, an increase of 8% over the same period last year. Revenue grew by 16% to EUR8.2bn (US$11bn) with operating profit growing by 8% to EUR1.4bn. The company said in a statement this is equivalent to a return on sales of 17%.No tags for this post.
Aug
1st

Chrysler sets pace with 20% gain on Jeep, truck volume

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Major automakers, led by Chrysler's 20 percent gain, posted higher sales in July on strong retail and fleet demand. Sales rose 10 percent at Ford and 11 percent at Nissan.No tags for this post.
Aug
1st

INDIA: Maruti July sales rise 21.7%

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Sales by India's car market leader Maruti Suzuki in July rose 21.7% to 101,380 units.No tags for this post.
Aug
1st

ZF supervisory board said to support takeover talks with TRW

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The supervisory board of German supplier ZF Friedrichshafen has given its support to continuing negotiations to buy TRW Automotive Holdings Corp., two people familiar with the matter said.No tags for this post.
Aug
1st

ZF supervisory board supports TRW takeover talks, report says

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ZF's supervisory board has given its support to continuing negotiations to buy safety components supplier, TRW Automotive Holdings, sources told Bloomberg.No tags for this post.
Aug
1st

INDIA: Maruti Q1 net profit up 21%

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Maruti Suzuki boosted net profit 20.7% to INR7,623m in the first quarter of fiscal 2014/15.No tags for this post.
Aug
1st

CHINA: Shanghai-GM-Wuling JV’s Baojun 730 has a new platform

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The Shanghai-GM-Wuling joint venture has launched a new minivan for its Baojun brand. SGMW says the 730 introduces a new vehicle architecture.No tags for this post.
Aug
1st

Fiat says ciao to Italy as merger with Chrysler ends era

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Fiat is leaving home after 115 years.The controlling Agnelli family and other investors meet today to seal the end of Fiat as an Italian company after it merges with Chrysler.No tags for this post.
Aug
1st

Fiat says ciao to Italy as merger with Chrysler ends era

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Fiat is leaving home after 115 years.The controlling Agnelli family and other investors voted today to seal the end of Fiat as an Italian company and approved a merger with Chrysler.No tags for this post.
Aug
1st

Renault will build Fiat Scudo successor

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Renault will build Fiat's replacement for its Scudo commercial van starting in 2016, taking over production of the model from PSA/Peugeot-Citroen.The Scudo successor will be based on the Renault Trafic.No tags for this post.
Aug
1st

VW, Renault are Europe’s engine plant leaders

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Automotive News Europe's Guide to Powertrains shows the 83 locations where 19 automakers and suppliers produce the engines and transmissions that help drive the auto industry in Europe.No tags for this post.
Aug
1st

ANE’s August e-magazine goes live Monday

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The latest issue of the Automotive News Europe monthly e-magazine goes live on Monday, Aug. 4. This month's edition looks at the potential risks and rewards facing Porsche.No tags for this post.
Aug
1st

Rally: More bad luck for Leo Urlichich in Finland

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“Crazy Leo” Urlichich, the only Canadian to compete in the 2014 FIA World Rally Championship, endured more bad luck Thursday at the very beginning of the Rally Finland.

Urlichich competes in the Drive DMACK Fiesta trophy this season. He was set to take the start of the rally in Finland with a new co-driver, Briton Darren Garrod.

However, Garrod hurt his back on a very average jump at the test stage before the rally.

“It wasn't bad at first so we got three more test runs in. I have to admit: the stage was amazing. I so loved it! There's a reason why this is the best reason in the world!” Leo said.

“But the pain got worse, but Darren decided to go through the start ramp despite severe pain, because that would allow a theoretical restart tomorrow. Here, we have to thank M-Sport Poland and Alison for their special assistance. But as the day went on we realized that there's no way we can go into the stages,” “Crazy Leo” said.

“I am very sorry to all the sponsors, fans and friends who support me. I'm beyond gutted. No one here can believe in this bad luck. But we'll be back!” Leo concluded.


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Aug
1st

Elio three-wheeler in high demand before 2015 launch

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Demand keeps growing at a rapid pace for the Elio three-wheeler, which is set to go on sale in late 2015 at a price of US$6,800.

The number of pre-orders skyrocketed from 6,406 on December 31st of last year to more than 25,000 on July 19th, 2014. Customers made a refundable deposit of $100-$1,000.

Elio
Photo: Elio Motors

Similar to a motorcycle, the Elio puts the passenger behind the driver. It's fully boxed and features car-like seats, airbags, and seat belts.

Fuel economy is rated at 84 mpg, equal to about 2.8L/100km, which would be good enough to drive from New York to Detroit on a single tank. Top speed is 160 km/h. Buyers will be able to choose between a manual transmission and an automatic.

Production of the Elio will take place in Louisiana at a former Hummer plant.

Source : fastcoexist.com

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Aug
1st

F1: Lotus owner’s losses, debts continue to worsen

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From GMM

Alarming news about the financial health of Lotus team owner Gerard Lopez has emerged.

Together with Eric Lux, fellow Luxembourger Lopez heads the investment company Genii Capital, which owns the Enstone based team.

After finishing a strong fourth in the last two constructors' world championships, Lotus is currently a mere eighth after a particularly difficult first half to the 2014 campaign.

And according to the Luxembourg newspaper Tageblatt, the financial news is even worse.

Accounts just filed with the commercial register for 2012 show an annual loss of almost EUR 53 million, with company equity listed as minus EUR 128 million.

The report said that just one year ago, the loss was only 55 million, while total debt is now shown at a whopping EUR 185 million.

Tageblatt also claims that although company filings are due no later than seven months after the end of the financial year, Genii only filed the accounts for 2011 and 2012 in mid-July of this year.

The accounts for 2013 have not yet been filed.

F1 Lotus E22 Renault
Lotus E22-Renault. (Photo: WRi2)



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