Industry

He cited 'major disagreements with 'executive management'

Henrik Fisker, automotive designer and founder of Fisker Automotive, has resigned from the company that bears his name citing "major disagreements" with the company's executive management. Fisker sent his letter of resignation di...

Executives predicting several timeframes for return

The European auto industry has suffered from dropping sales since 2010, and industry executives are finally beginning to predict a rebound. Unfortunately, but there is still no consensus on when sales will return to previous levels.  Fiat...

Sales and Revenue were both beyond expectations

Audi released its 2012 fiscal results today with unit sales up 11.7% to 1.45 million cars and revenue up 10.6% to €48.711 billion. Operating profit hit €5.4 billion, a 6% improvement. All of the results beat Audi's projections for th...

Increased growth in all major markets

Lamborghini has announced its financial results for the fiscal year 2012. It had an extremely good year with deliveries up 30% worldwide and growth in most of its major regions.  Hot off the debut of its new limited-production supercar, t...

Will add 1,400 new jobs to build new engines

Jaguar Land Rover is investing £500 million (€575 million) into its Engine Manufacturing Centre in the UK to employ 1,400 new employees and build its new four-cylinder engines. It is also investing a further £2.75 b...

Workers will receive no pay increases but factories kept open

Opel, General Motors and its German labor union IG Metall have agreed to a deal through 2016 that will mean no pay increases for workers but keep factories open in Germany. GM promises to invest several billion euros into Opel over the next th...

Workers will receive 4% bonus reduction

Apparently, Volkswagen Chairman Martin Winterkorn appears to believe that if he is taking a cut in his bonus, then all Volkswagen workers need one. Just a week after announcing that he would take a 20% voluntary reduction in his bonus, Volkswagen ...

Terms of settlement not disclosed

Hyundai and Kia are anxious to put its fuel economy woes behind it. The company apologized in November for overstating the fuel economy on about 600,000 of its cars by as much a 4mpg. It gave customers a debit card that would pay for a portion of ...

Demand in US outstripping supply

Audi is asking more from its German factories in March to meet demand from the United States.  The factories will run 12 extra shifts during the month to build the A6, A7 and Q5 specifically to send to the US. The added production will to...

The main focus will on sales in China

PSA Peugeot-Citroën has been losing money in Europe for the past several years. To survive, it is looking toward China. It is aiming to have more than 50% of its sales outside of the EU by 2015, compared to 62% sales in the EU in 2012. PS...