Industry

The 4C will be the backbone of company's return

CEO Sergio Marchionne says that Alfa Romeo has everything it needs for an Alfa Romeo comeback. The first of the new cars will be the 4C sports car later this year in Europe with more cars following soon after. "It's all top secre...

Europe continues to struggle and Asia continues to grow

The major German luxury automakers - Audi, BMW and Mercedes-Benz - have released their financial information for May, and all of them are having their own ups and down. The common part is that while all of them have higher sales than last year, Eu...

Asia remains its largest market

Porsche delivered 15,020 cars in May, up 12.7% from the previous May. For the year so far, it has delivered 67,261 cars, a 19.1% improvement over the same period last year.  “In terms of customer deliveries to date, we have exceeded...

Volkswagen, Mercedes and Audi are the top sellers in Germany

June has only just begun, and we are getting the first news on last month's European auto sales. German new car sales fell 9.9% compared to May 2012 to 261,316 cars, according to Germany's Federal Transport Authority. Sales year-on-year fe...

It will open eight dealers in the next 12 months

McLaren says that it expects sales to double in Asia this year with plans to open eight dealers in the next 12 months. However, global sales are not expected to change much compared to 2012. The portion of sales from the Asian region is expected t...

It has deals with multiple banks to make the deal possible

Fiat is very serious about purchasing the remaining 41.5% of Chrysler. It has arranged for $10 billion in loans from multiple banks to finance the purchase, according to Bloomberg. If the merger were successful, Fiat and Chrysler would then refina...

Revenue and profit also up in the double digits

Jaguar Land Rover has released its 2012/2013 fiscal results and retail sales were up 22% over last year to 374,636 vehicles. Revenue was up 17% to £15.8 billion and before tax profit was up 11% to £1.675 billion. In the ...

Advocate General in case says that VW has complied

The German state of Lower Saxony will likely not face a fine for failing to comply with EU law for protecting Volkswagen, according to Advocate General Nils Wahl. The case concerns whether Lower Saxony complied with a previous ruling that...

Front-wheel drive BMWs will also be built in China for domestic market

BMW plans to have the third generation of its modern Mini on sale next year, and it is planning to move Chinese-market production to China to satisfy growing demand. Since being introduced, China has become Mini's fourth-largest market for sal...

He has partnered with a Hong Kong investor to finance the project

Henrik Fisker has partnered with Hong Kong investor Richard Li to attempt to buy back his bankrupt Fisker Automotive. He resigned from the company in March after founded the company six years ago and building the Karma range-extended luxury sedan....