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Volkswagen is sticking to its goal to match last year's record operating profit and vehicle sales after first-quarter profit dropped 26 percent on falling demand in Germany and heavy spending on new vehicles.

Volkswagen is sticking to its goal to match last year's record operating profit and vehicle sales after first-quarter profit dropped 26 percent on falling demand in Germany and heavy spending on new vehicles.

The government announcement about reducing credit interest rates came as Colombian new car sales fell 23% YTD though month on month sales in March rose 2.9% to 22,888 units, the best month in 2013 so far.

PSA Peugeot Citroen has posted revenue down 6.5% to EUR13bn (US$16.9bn) for the first quarter of this year, with the automotive division sales also falling 10.3% mirroring a 10% contraction in the European market.

and#8220;It was never a matter of saying, 'Are we going to continue? Continuing was always the plan,and#8221; according to David Swig, the son of

News 24 Apr, 2013

The new Ford Escort saloon, set for China, could be sold in Europe, too

PSA/Peugeot-Citroen said first-quarter revenue fell 6.5 percent as its vehicle sales abroad failed to offset a recession in Europe.

PSA/Peugeot-Citroen said first-quarter revenue fell 6.5 percent as its vehicle sales abroad failed to offset a recession in Europe.

Daimler cut its 2013 profit forecast after its quarterly earnings fell 56 percent, burdened by Europe's slump and weaker Mercedes-Benz sales in China.

Daimler cut its 2013 profit forecast after its quarterly earnings fell 56 percent, burdened by Europe's slump and weaker Mercedes-Benz sales in China.

Gentex, a U.S. supplier of automotive rearview mirrors and related parts, reported a 2 percent decline in net profits for the first quarter, citing a decrease in vehicle production in Japan, Korea and Europe.

Henrik Fisker's testimony before the U.S. Congress today will paint the automaker he founded as a victim of "a confluence of events" and as an enterprise that is capable of being saved.

The Shanghai auto show proved once again that China is the promised land for automakers, particularly Europeans bracing for a sixth straight year of declining car sales in their home region.

From GMM

This year's young drivers test will take place at Silverstone in July, it has emerged.

Last year, the concept for giving young drivers a break into formula one amid the sport's tight testing regulations became highly farcical, with the running split over three different locations and dates.

But according to Germany's Auto Motor und Sport, the teams have decided on a common date for 2013.

The test will not, however, take place at the end of the season, and Abu Dhabi will not be the venue.

Rather, the teams will gather at Silverstone in mid July, just before the August or 'summer' break.

The three day test will take place between July 17 and 19, during the three week gap between the races in Germany and Hungary.

Esteban Gutiérrez au volant d'une Sauber à Abu Dhabi en 2012. (Photo: WRi2)

From GMM

Marussia has played down the impact of the withdrawal of a team co-owner.

It emerged this week that Lloyds, the part government-owned British bank, has sold its 25.3pc stake due to huge losses and the team's lack of results.

A spokesman told F1 business journalist Christian Sylt and the Telegraph newspaper that Marussia, the Russian carmaker, bought the Lloyds stake.

Chief executive Andy Webb denied the move is bad news for the Marussia team.

"In terms of stability, the team is now in its strongest position since it was founded in 2009," he is quoted by the Express newspaper.

Photo: Marussia F1 Team

Adapted from press release

The day after the Bahrain Grand Prix, the Scuderia Ferrari engineers concluded the investigation into the failure of the DRS unit which badly affected Fernando Alonso's race.

"Analysis revealed that the problem was caused by the breakage of a mechanical component within the system. It's the first problem of its kind on this system seen in the three years during which it has been used. The failure is not something that causes concern for the long term, however, paying great attention to reliability must always remain at the highest level. It has often been the case that it takes only a small problem to prevent the car's full potential from being exploited," the press release says.

Fernando Alonso's Ferrari running with the inverted flap. (Photo: WRi2)

Team boss Stefano Domenicali said the problem was a reminder that while Ferrari had started the 2013 Formula 1 season with a quicker car than for several years, it could not afford to drop the ball on reliability.

“It's hard to recall a race where so many things went wrong,” commented Stefano Domenicali on his return to Maranello. “The DRS failure prevented Fernando, who yet again produced a great performance, from fighting Vettel for the win. Then for Felipe, there were the two tyre related problems that pushed him out of the points and prevented from getting the top five finish that was within his grasp. We had the potential to get these results, but we were unable to do so, partly because of external influences.”

“We must work with renewed attention on this front,” continued Domenicali. “We must also continue to develop the car and increase our understanding of the tyres, which is more crucial than ever this year. We believe in our ability to be in the fight for the titles right to the end and this time, we have been in that fight since the start, which has not been the case for a while. At the same time, we must be aware that in order to achieve our objectives, we have to be perfect in every area."

From GMM

Amid all the noise and criticism surrounding Pirelli's approach to formula one, the Italian marque has won the backing of Bernie Ecclestone.

Many drivers, experts, pundits and teams - and particularly world champions Red Bull - have been strong in their criticism of the 'show'-oriented formula created by heavily degrading control tires.

"If the tires lasted from January to December," F1 chief executive Ecclestone told Reuters, "there'd be something else to talk about. What is good about this (situation) is that it really comes back a little bit to what it used to be when the guys had to look after their brakes and gearboxes and things like that."

Photo: Pirelli

However, the tires wearing out quickly is arguably not even the major issue.

The biggest problem is that the teams and engineers do not understand how to make the tires work.

Red Bull complained loudly at the opening rounds in 2013, but then Sebastian Vettel utterly dominated in Bahrain.

"We had been really worried, but in the end it was actually quite easy," Dr Helmut Marko told Kleine Zeitung newspaper.

But on the sister car driven by Mark Webber - who "had to fight in the middle of the pack" - the tires "just fell apart", Marko explained.

It was a similar story for Nico Rosberg, whose Mercedes gripped perfectly to pole in Bahrain before the high temperatures on Sunday left him fumbling backwards through the field.

"We know the much cooler (temperatures in) Europe will be good for us," teammate Lewis Hamilton told German news agency DPA.

Agreed team boss Ross Brawn: "The tires are the same for everyone, but under these (hot) conditions we are just not as good as our competitors."

Photo: Pirelli

But it's not even as simple as getting clear air, or finding temperatures that suit the car-tire combination.

"I think these tires are very complex," Red Bull team boss Christian Horner told British Sky. "When you're in the window ... then you can have a dominant display like we had (in Bahrain). But that window is very, very fine and if you're outside of it then you can be four or five-stopping."

Alex Wurz, a former F1 driver, doubts Red Bull really understands why it suddenly leapt into apparent dominance last weekend.

"If they do know, then they will be extremely strong until the end of the season," he is quoted by motorline.cc. "But sometimes it just happens and you don't know why. It's a science no one really understands."

Red Bull's Webber agrees on Servus TV: "The tires dictate everything. If you are not in the right working window, the laptimes fall into the basement. We've seen Lotus able to do two stop strategies, while Jenson Button has had to come in four times, even though he's known as a 'tire whisperer'. We are still in a learning process."

Photo: Pirelli

As I put my “Which Car?” blog together recently, I hit a snafu. As much as I love me a new car (like most of you) my heart often belongs to an older, previous generation car or one that has long been extinguished by its maker.

To put it simply: If I were to win a sizeable chunk of change, I'd buy an incalculable amount of cars, old cars, new cars, lots of ‘em.

You'll have read words like these many times, but older automobiles have a different character, a level of innocence and a degree of simplicity that will never again be found in mass-produced cars. Ask anyone who owns one.

My heart currently belongs to my 1992 Volkswagen Jetta GTX and 2003 Subaru Impreza WRX Spec R1 wagon. Although neither is excessively old, the most modern of features my cars have are ABS brakes (on the WRX only) and cruise control (yes, even on the Jetta...). The remainder of the man-machine interface resides between the man and the machine -- as it should.

Now about the money; I joke with my wife about having cars and car parts all over the front lawn, but it would happen. We'd have to sell the house in the city, buy a plot of land in the country and build a modest 2,000 sq-ft home and a less-than-modest 12,500+ sq-ft garage. In it would be lifts, tools, parts, and work stations. Why?

Because I love old cars, that's why.

I'm going to try and stick to the category/type descriptions I used for the new cars, but I make no promises:

• 1 car: Impossible. Well, I would settle for a 1969 Dodge Charger R/T...
• Convertible: 2004 Mazdaspeed Miata / 1962 Austin- Healey 3000 MKII
• Performance sedan: 1988 BMW M5 / 1996 Chevrolet Impala SS
• Performance coupe: 1986 BMW M6 / 1974 Volkswagen Scirocco
• Pocket rocket: 1990 BMW M3 / 1965 Barracuda Formula S
• Crossover: None old enough...
• Pickup: 1955 Chevrolet Pickup / 1999 Ford F-150 SVT Lightning
• Performance SUV: 1992 GMC Typhoon / 2002 BMW X5 4.6is
• Luxury sedan: 1990 BMW 750i / 1963 Cadillac DeVille
• Exotic: 1982 Lamborghini Countach LP500 S / 1976 Porsche 911 Turbo
• Hot hatch: 1976 Volkswagen Golf GTI / 1989 Lancia Delta Integrale EVO
• SUV: 1981 Jeep Grand Wagoneer / 1971 International Scout II
• Wagon: So tough... 1977 Ford Country Squire / 1969 Oldsmobile Vista Cruiser (Any Vista Cruiser) / 1966 Volvo Amazon / 1989 Buick Electra Estate / 1966 Dodge Polara 880 station wagon / 1977 AMC Matador station wagon / 1984 Mercedes Benz 300TD Wagon / 1995 BMW 530i station wagon / and so on and so on...
• Oddity: 1960 Volkswagen Type II Bus / 1965 MGB GT
• Hybrid: Doesn't apply
• Micro car: 1962 BMW Isetta / 1955 Volkswagen Beetle
• EV: No such thing...

This list barely works. As I look it over, I can think of dozens more cars that I could add to it. I bet as you read the list you called out some yays and nays.
I invite you to share with us which cars you would get, and in what category, in the comments section below.

Photo: Ford

From GMM

Mark Webber has scoffed at the suggestion he might one day beat Rubens Barrichello's all-time race record.

In the last couple of races, Australian Webber and Ferrari's Fernando Alonso surpassed the ultra-rare 200-grand prix barrier, which only a handful of drivers have ever reached in formula one history.

So might Webber, 36, now be eyeing Brazilian Barrichello's all-time record, which stands at 326 grands prix?

"I'll never reach it -- absolutely no chance," he told Austrian television Servus TV. "He drove over three hundred grands prix and was in formula one for 17 years -- a great career."

"But it's a long time. The record will probably last forever. Definitely I can't challenge it -- I'd have to still be here another seven seasons!" he exclaimed.

Indeed, some believe Webber will exit F1's paddock turnstiles at the end of this season, having been linked with Porsche's new Le Mans prototype project.

Mark Webber celebrating his 200th Grand Prix in Bahrain. (Photo: WRi2)

The Virginia Department of Motor Vehicles (DMV) has rejected Tesla Motors' bid for a dealership licence, following the lead of several other states including New York and Massachusetts.

The DMV fears that issuing such a license would violate Virginia franchise law, which generally prohibits manufacturer-owned stores.

"We welcome Tesla to Virginia, but they too must abide by the laws like all other manufacturers and Virginia new car and truck dealers," said Don Hall, president of the Virginia Automobile Dealers Association.

Source: Automotive News