European Carmakers Confront Overcapacity as Sales Decline
Major manufacturers including Ford, Opel, Fiat and Peugeot Citroën are facing mounting losses as European car plants run well below capacity and sales continue to fall.
Coverage tagged Sales figures.
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Major manufacturers including Ford, Opel, Fiat and Peugeot Citroën are facing mounting losses as European car plants run well below capacity and sales continue to fall.
Volkswagen threatened to leave the European carmakers’ association unless Fiat CEO Sergio Marchionne resigns as ACEA president, following public accusations over VW’s pricing strategy.
The British marque has launched a two-storey facility in Bangkok, featuring space for seven cars and a bespoke customer lounge.
SBS Transit has placed a new order for 450 Euro 5 Mercedes-Benz Citaro buses, with deliveries set to begin in autumn 2012 and run through 2015.
Ferrari’s sales in China, Hong Kong and Taiwan surged 116 percent in the first half of 2011, pushing the region ahead of Germany and just behind the US.
General Motors sold 1,760 Chevrolet Volts in June 2012, more than double the previous year’s figure and far ahead of Nissan’s Leaf, which saw sales fall sharply.
General Motors delivered 248,750 vehicles in June 2012, a 16% year-on-year rise driven by strong car, crossover and fleet demand across its US brands.
Analysts expect US new car sales to reach 1.2 million units in June 2012, up 18% year-on-year, as Toyota and Honda regain ground after last year’s supply disruptions.
General Motors is ramping up production in St. Petersburg and launching 12 new models in Russia, even as it prepares to close its Bochum plant in Germany.
Rolls-Royce Motor Cars has opened new dealerships in Moscow and near Geneva, strengthening its presence in Russia and Switzerland after a record year for global sales.
Analysts expect China's passenger car market to accelerate sharply in 2014, reversing recent slowdowns as subsidies return and urbanisation drives new demand.
Passenger car registrations in Greece fell to just over 5,300 units in May 2012, with commercial vehicles and year-to-date figures also sharply down on 2011.
Fiat Chrysler CEO Sergio Marchionne admitted in 2014 that the company lost $14,000 on each Fiat 500e sold, highlighting the cost pressures of early electric vehicle production.
Hyundai's 2013 Accent arrives in American showrooms with a higher entry price, more standard equipment and fuel economy aimed at budget-conscious buyers.
VW sets out to nearly double its Chinese output, planning new investment and factories to reach 4 million units a year within six years.
Volkswagen Group of America’s chief said US new car sales could rise 20 to 30 percent year-on-year in May 2012, citing a solid industry recovery despite slow economic growth.
Subaru has denied claims that the Tribeca SUV would be discontinued after 2012, insisting production continues for the 2013 model year despite declining sales.
BMW’s brand value rose 10 percent to $24.62 billion in 2012, overtaking Toyota after a year in second place, according to Millward Brown’s annual BrandZ ranking.
Bentley is preparing to enter the luxury SUV market in 2015, aiming for annual sales of 3,000 units and considering multiple powertrains including a W12, V8 and hybrid.
Dacia and Renault have surpassed 300,000 global sales of the Duster SUV less than two years after launch, with UK deliveries set to begin shortly.
General Motors resumed Chevrolet Volt assembly in April 2012 following a five-week shutdown aimed at reducing unsold stock, as March sales rebounded to a record for the model.
Hungarian logistics firm Waberer’s International will add 200 Volvo FH trucks to its fleet from May 2012, continuing a long-standing partnership with Volvo Hungaria.
Skoda aims to reach 1.5 million global sales by 2018, with China expected to contribute 500,000 units, over double its 2011 performance.
Volkswagen aims to surpass Toyota and General Motors in worldwide vehicle sales by 2018, setting a target of 10 million annual deliveries and higher profitability.