Tag Archives: eu

EU Commercial Vehicle Sales Drop 11% in January as Slump Continues

Posted on 28 February 2013 by Ken Zino

The sale of new commercial vehicles in the EU declined again in January (-10.6%), continuing a worrisome downward trend evident for all of 2012. Continue reading →

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January EU Car Registrations Plummet. Eurozone Crisis Deepens

Posted on 19 February 2013 by Ken Zino

Passenger car registrations plummeted in the 27 markets of the EU during January of 2013 to 885,159 units, reaching a historic low ever recorded for the month of January, since the start of record keeping began in 1990 by ACEA. Continue reading →

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Volkswagen Group to Invest €50 Billion During Next Three Years

Posted on 1 December 2012 by Ken Zino

Volkswagen Group will invest €50.2 billion in its Automotive Division in the coming three years after approval by its Supervisory Board last week. It’s the latest step in VW’s attempt to become the world’s largest Automotive Group by 2018. The ambitious target that will require overtaking GM and holding off a resurgent Toyota, neither of which will concede sales lightly. Continue reading →

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EU Car Sales Continue to Evaporate in October – Off -5%

Posted on 19 November 2012 by Ken Zino

The economic decline of the European Union continued in October as sales of new passenger cars contracted by 5% to 959,412 compared to October of 2011. It was the thirteenth straight month of sales declines across the economically embattled Eurozone as the trade bloc comprised of 27 bickering nations is unable to move out of the economic doldrums. Continue reading →

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Stefan Jacoby Out at Volvo Car. Håkan Samuelsson new CEO

Posted on 19 October 2012 by Ken Zino

The Board of Directors of Volvo Car Group has appointed Håkan Samuelsson as its new President & CEO effective immediately, the Chinese owned company said today. Stefan Jacoby will leave Volvo Car Group and the board. Continue reading →

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September EU Vehicle Sales Drop 11%. Eurozone Crisis Unabated

Posted on 16 October 2012 by Ken Zino

EU new vehicle registrations continued their downward slump in September declining 11% from September 2011. It was the twelfth straight month of sales declines across the economically embattled Eurozone as the trade bloc comprised of 27 bickering nations or tribes heads for its fifth straight year of declining sales. Continue reading →

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Ford outlines its latest European Turnaround Plan to Dealers, Workers

Posted on 7 September 2012 by Ken Zino

At a meeting with 2,500 dealers and employees in Amsterdam last night, senior Ford Motor executives outlined the latest European turnaround plan for its loss-making Western European operations. Continue reading →

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Ford EU July Sales off 12%, Lowest Since 1995. Lags Industry

Posted on 16 August 2012 by Ken Zino

Ford Motor Company sales in its traditional 19 European markets decreased in July to 83,100 vehicles, -12.3% lower than July 2011 in an industry with heavy discounting that was off 7.6% overall. Year-to-date, Ford sales were 700,200 units, down 11% during the same period last year compared to an industry decline of 7%. Both results were the lowest sales for Ford in the EU since 1995 as the Eurozone crisis continues unabated. Continue reading →

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EU Passenger Car and Commercial Vehicles Sales Down Again

Posted on 17 July 2012 by Ken Zino

Thus far the European auto industry has done little to reduce its capacity, which is now widely discordant with constantly falling demand. GM is planning to close its Opel Zafira plant in Bochum, Germany after the run-out of the current Zafira in 2015, but that is not enough to return Opel to profitability after decades of losses totaling hundreds of billions dollars. Opel employs 20,800 people across Germany and more than 40,000 across Europe. The head of GM Europe was ousted earlier this month over the continuing losses and the lack of progress. Continue reading →

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PSA Peugeot Citroën to Reorganize, Close Aulnay Plant

Posted on 13 July 2012 by Ken Zino

Philippe Varin, Chairman of the PSA Peugeot Citroën Managing Board has told the works council that the loss-making French automaker will close the Citroën C3Aulnay plant in 2014, and trim production at Rennes, which makes the Peugeot 508 and Citroën C5 and C6. More than 4,400 jobs are affected. Work in other plants could absorb 1,500 of the displaced workers in the local Paris area. The company will also pursue voluntary separations of its corporate workforce. Continue reading →

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GM Europe President, Opel Head Karl Stracke Ousted over Losses

Posted on 12 July 2012 by Ken Zino

Insiders say that Akerson has told Girsky that it is time to show that Opel can be saved. For an ambitious Girsky who wants to head GM some day, this is a make or break appointment on the GM journey, a road strewn with road kill of former senior GM executives. Continue reading →

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Toyota France to Export Yaris to North America in 2013

Posted on 22 June 2012 by Ken Zino

Toyota Motor Manufacturing France announced today that as of May 2013, it will start building the Yaris compact car for export to the United States of America, Canada and Puerto Rico. The annual export volume is about 25,000 units. The surprising move is both a hedge against the strong Japanese Yen that makes exports form the land of the rising sun unprofitable, as well a defensive capacity move against the ongoing collapse of the Western European economy that has seen car sales plummet for five straight years with no end to the decline in sight. Continue reading →

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EU Commercial Vehicle Sales Drop 12% in April

Posted on 30 May 2012 by Ken Zino

Unlike the car market in Europe, which is in its fifth straight year of declining sales year-over-year, the commercial vehicle market was posting small gains until about a year ago. The declines since then are an ominous sign that EU economic problems are deepening as voters are turning out existing governments and demanding economic stimulus packages from new or surviving ruling elites. Expanding debt ridden national economies has thus far have been resisted mostly by the German government, which has a relatively stronger economy keeping it in power for the moment. Continue reading →

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April EU Cars Sales Down Again as Eurozone Crisis Continues

Posted on 16 May 2012 by Ken Zino

In April, 1,017,912 new passenger cars were registered in the EU, or 6.9% fewer than in the same month of 2011. For the first four months of the year, new registrations were 7.5% lower in the EU than a year earlier at 4,332,342 units. This means the EU remains on track for the fifth straight year of sales declines, an economic disaster that has potential negative effects on Fiat, Ford Motor and General Motors in North America. Continue reading →

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Opel Woes Continue as EU Auto Sales Decline In April. Latest Turnaround Plan Faces Fierce Union Fight over Plant Closings

Posted on 15 May 2012 by Ken Zino

Worrisome for GM shareholders, including the U.S. taxpayers who still own 32% of the world’s largest, but only marginally profitable, automaker after a $50 billion bailout, Stracke told employees that Opel will stay with existing labor agreements through 2014. With the European auto market headed for its fifth straight year of sales declines and with no upturn predicted for years, it’s impossible to see how Opel will cease being a drag on GM earnings. Continue reading →

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