Tag Archives: eu

Ford Europe Sales Down 10% in April. UK and Eastern EU Up

Like other automakers, Ford is struggling with the contractionist policies of governments in Germany and Brussels, as voter unrest grows with the Depression level economic conditions. Both in April and year-to-date light vehicle sales in the EU are off almost 8%, the fifth straight year of declines. Continue reading

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Renault Group Q1 Sales, Revenues Drop from Eurozone Crisis

The problem was almost entirely in the home French market which shrunk by 19.4%. As a result, Renault Group’s European market share decreased to 9.1%. The EU is heading for its fifth straight year of auto sales declines as politicians and bankers continue to pursue policies that increase unemployment and decrease economic activity. The mix of sales outside Europe reached 46%, up 8 points compared to the first quarter 2011. Continue reading

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Penske Automotive Group Expands to Northern Italy

Penske Automotive Group, Inc. (NYSE:PAG) has formed a joint venture with Andrea Mantellini, the operator of a BMW/Mini dealer group located in Bologna, Italy. The joint venture intends to acquire and operate dealerships in northern Italy, Penske said in a news release today. Mantellini will manage day-to-day operations of the business. Financial terms were not disclosed. Penske appears to be buying a premium brand and entry into the market at presumably fire sale prices. Continue reading

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Hyundai Joins ACEA as European Auto Sales Slump Continues

The irony is that European automakers remain opposed to the terms of the Korean FTA, which went into effect last July. Automobiles are now the largest export product of the South Korean economy. Its car industry with a production of 3 million cars per year, of which 2 million (64%) are exported – 300,000 of which were sent to the EU in 2010. ACEA points out that by contrast, 74% of cars produced in the EU are also registered in the EU. Because of its size and importance, the EU is a key target market for Korean manufacturers, but “uneven implementation will place the whole EU economy at a disadvantage,” according to the trade group. Continue reading

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European Auto Sales down in 2011 for Fourth Straight Year

For the year American automakers General Motors finished fourth with a flat 8.7% share. Fifth place Ford Motor (8%, a slight decline) made no sales progress either, even though both companies have introduced a series of new models. Sixth place Fiat – the owner of Chrysler courtesy of American taxpayers – continues to struggle along with Italy, off almost a full percentage point in share to 7.1%. One bright spot – Jeep sales are up 63% from an admittedly small base to more than 22,000 units. Continue reading

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General Motors Revises Opel Supervisory Board. European Reorganization, Layoffs and Plant Closures Imminent?

The Opel Board, as well as GM’s Board of Directors, has the task of returning GM’s European Operations to sustainable profitability, after years of stopgap measures by previous GM management teams that did not accomplish this. Further cost cutting is needed, which likely means politically contentious plant closures. On a Q3 earnings phone call with reporters earlier this month, CFO Amman said that nothing would be ruled out to return Opel to profitability. Continue reading

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IAA Frankfurt Motor Show Emphasizes Concepts and Electric Vehicles as Euro Zone Economic Crisis Threatens Automakers

The auto markets in the EC have declined for three straight years now, and 2011 is thus far following the same downward trend. It’s against this backdrop of political crisis and economic uncertainty that automakers are revealing cars at the Frankfurt Motor Show that are being dictated – or heavily influenced – by expensive EU regulations – with an emphasis on electric vehicles that will be required to meet impending EU CO2 standards. Continue reading

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Passenger Car Sales Down in EU Again as Economy Struggles

However some winners are emerging. Volkswagen Group remains the powerhouse in Europe with 23% share year-to-date of the EU and European Free Trade Areas. BMW group also posted strong double digit gains, as did Nissan, although both are on relatively small basis. The same could be said for Hyundai and Kia, which now have combines sales of more than 345,000 units year-to-date, compared to Volvo’s 138,000. Continue reading

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EU Proposes Banning Cars from Cities. Automakers Protest

The European Commission today adopted 40 initiatives that it claims will increase mobility, dramatically reduce Europe’s dependence on imported oil and cut carbon emissions from transportation by 60% by 2050. It also requires the investment of €1.5 trillion or $2.1 trillion across the EU. Continue reading

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World First – Suzuki Fuel Cell Motorcycle Street Legal in EU

The upshot is that zero emission motorcycles are now a step closer to becoming commercially available, and since motorcycles don’t come in right-hand-drive versions, the motorcycle could – in theory – be produced and sold throughout Europe. Continue reading

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EU Auto Sales Slump Continues in 2010 for Third Straight Year

The European passenger car market shrank for the third straight year in 2010, with registrations declining by 5.5%, from 2009, according to the latest data just released from ACEA, the automakers’ trade group in the EU. Continue reading

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EU Auto Production Still Well Below Pre Crisis Levels

New passenger car production in the European Union (EU) grew in the first half of this year before dropping by 5% in the third quarter, as sales slumped, the European Automobile Manufacturers Association (ACEA) said today. The unemployment rate in … Continue reading

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