German chipmaker Infineon reported a 12 percent rise in first-quarter profit on strong demand for its chips from automakers and stuck to its full-year forecast for revenue growth and profit margin.
January was a bit of payback for an incentive-fuelled December. Total light vehicle sales dropped 1.9% to 1.14m. The deficit was actually smaller than predicted and translated into a seasonally adjusted annualised rate (SAAR) of 17.61m cars and light trucks, which was also better than expected.
Mazda's operating profit tumbled 71 percent in the latest quarter, as foreign exchange rate losses hit earnings and offset small sales gains.
News
7 Mar, 2017
Estate version of the Mercedes-AMG E 63 set to go on sale in April with 4MATIC+ four-wheel drive and 'Drift Mode'
Daimler reported a fourth-quarter earnings increase of 3 percent year-on-year and gave a tepid earnings outlook for 2017 as aggressive spending to develop next-generation cars holds back gains at Mercedes and heavy truck demand slumps.
New-car sales in Italy increased by 10 percent in January for the best monthly result since 2010, with Citroen, Dacia and Toyota among brands showing big gains.
Assembly of the fourth-generation Renault Megane began in November 2015 at the French automaker's factory in Palencia, Spain. Output is expected to peak at more than 210,000 units this year, according to IHS Automotive.
News
24 Jul, 2019
Classic British auto manufacturer Alvis has expanded its range of Continuation Series cars to six models and two chassis configurations
German automotive interiors maker Grammer rebuffed efforts by Bosnia's Hastor family, a minority shareholder, to replace nearly half of its board. The Hastor family controls automotive supplier Prevent which was in dispute with VW last year.
Daimler will build its new electric vehicles in existing Mercedes plants by integrating them with serial production of cars with combustion engines. The company has said its Mercedes and Smart brands will launch more than 10 electric cars by 2025.
Spanish new-car sales rose 11 percent in January, with Seat, Dacia and Fiat brands leading gains among volume makers, while registrations were flat at Volkswagen brand.
Seat says it could launch a compact-sized EV in 2019, backtracking on the Volkswagen unit's previous strategy to shun electric cars because they would cost too much for its mainly young customer base.
Audi is reviewing whether it needs to put aside more money to cover the costs of a settlement in the U.S. over parent Volkswagen Group's diesel emissions scandal.
BMW will stick to its investment plans for Mexico and the U.S. despite warnings from President Trump to impose border taxes on cars imported into the U.S., CEO Harald Krueger said.
Sales of electric, plug-in hybrid and fuel-cell cars rose nearly 10 percent in Europe last year. Plug-in hybrid sales increased 17 percent and registrations of EVs were up 3 percent.
French car sales rose 11 percent in January, helped by two extra selling days. Ford's gain was the biggest among major brands while domestic automakers Renault and PSA also benefited from strong demand for their models.
Volkswagen and Bosch have agreed to pay at least $1.6 billion to fix or buy back and compensate owners of VW, Audi and Porsche cars with diesel engines rigged to cheat pollution tests.
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