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Germany Auto Sales Dragged Down by European Crisis


The European crisis has eventually affected the German market as auto sales in the region are on the slide. Analysts predict that despite an awful 2013, next year will bring a tentative end to the crisis, at least in the auto market. The slump has affected even the German luxury cars automakers, with Mercedes announcing it might have overestimated the 2013 ...
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Volkswagen CFO expects worse first quarter this year
Volkswagen predicts the first quarter of this year will be worse than a year earlier, adding to another forecast last week that said the carmaker's 2013 operating profit will stagnate. According ...
EU car registrations reach record low
New car registrations in the European Union fell to a record low, because of weak demand in several key markets, including Germany. "New registrations amounted to 885,159 units, reaching a historic ...
GM’s losses in Europe doubled in 2012
General Motors' lossed doubled in Europe last year, shrinking the automaker's third-consecutive annual profit. GM's net income was $4.86 billion last year, down from a record $7.59 billion in 2011. Operating ...
GM reports smaller than expected fourth-quarter profit
General Motors' fourth-quarter profit reported on Tuesday is weaker than expected, with the carmaker blaming wider losses in Europe, lower vehicle prices plus higher costs in its core North American ...
Report: Peugeot expected to announce multi-billion euro writedown
PSA Peugeot Citroen is set to announce a multi-billion euro writedown on its non-performing assets, according to a report from Reuters citing two people familiar with the situation. The French carmaker ...
Ford expecting $2 billion loss in Europe this year
Ford Motor Company forecasts a $2 billion loss in Europe this year, as the recession in the region may cause even lower auto sales than last year. Ford said on Tuesday ...
GM targets investment grade credit rating this year, CEO says
GM aims to achieve an investment grade credit rating this year and to have all five of its business units post profits or break-even by 2015, CEO Dan Akerson said. The ...
Opel denies report about being taken over by PSA Peugeot Citroen
Opel has denied a report from a French newspaper that cited government officials as saying PSA Peugeot-Citroen should buy Opel in order to challenge VW's dominance in Europe. Contacted by Automotive ...
Infiniti revises downwards its European sales targets
Infiniti has revised downwards its sales targets for Europe as the region is undergoing an economic crisis. Nissan's luxury brand admitted it will likely take longer than 2016 to meet its ...

latest automotive news
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