Industry

First quarter sales up 6.7%

Audi held its annual shareholders' meeting on May 16 and announced that it will invest €11 billion into production, technology and new products by 2015. It also announced that it has sold 503,000 cars in the first four months of the year,...

Profits and Revenues Down for the First Quarter of the Year

BMW held its investors' meeting earlier on May 14 where it announced finalized financial figures for 2012 and forecasted for the rest of 2013 and part of 2014.  The biggest announcement to come out of the meeting is that BMW plans to ...

Western Europe was down 7.9%

The Volkswagen Cars brand sold 480,900 cars in April, up 5.4%, and has sold 1.91 million cars in the first four months of the year, up 5.3%. However, the brand continues to see falling sales in Western Europe where sales fell 7.9% to 279,300 cars....

First applied for the money two years ago

Lotus is due to receive a £10 million ($15 million) cash payment from the UK government's regional growth fund, which is meant to go towards creating new jobs, training and research and development. The news was revealed in the East...

It will focus on two price segments

Citroën CEO Frederic Banzet says to save the company's future it will have to do two things. First, it will need to further differentiate its styling from Peugeot to avoid confusing buyers. Second, it will focus its C-line cars on entry-l...

Plans to offer significantly more personalization options

Ferrari CEO Luca di Montezemolo is worried about dilution of the Ferrari brand. The company sold a record 7,318 cars last year, and Montezemolo wants to drop that to 7,000 cars or fewer for 2013, not counting the 499 LaFerrari units that will be b...

It posts the best April sales since 2008

The United Kingdom continues to beat the trend of falling European auto sales. April auto sales were up 15% over last year, and it was the highest April sales since 2008. The UK Society of Motor Manufacturers and Traders (SMMT) predicts that ...

It will share its 18% share in the auto company

The US Treasury Department has begun its sale of its 18% of General Motors stock that it purchased when it bailed out the automotive giant in 2009. It began with 60.8% ownership of GM but has slowly been reducing its share in the company over the ...

Sales up for first four months of the year and for April

Audi has released its cumulative sales for the first four months of the year and for April alone, and it is growing steadily. So far this year, it has sold 503,000 cars worldwide this year, up 6.7% from this time last year, and it sold 133,500 car...

Includes new dynamometer and chassis testing center

General Motors has agreed to invest €230 million into a new European Development Center for Opel and Vauxhall. Most of the money will go towards a new dynamometer lab in Rüsselsheim and a new chassis-testing center at the Dudenhofen prov...