Industry

Sales tick up 12.7%

In its January sales results, Fiat-Chrysler revealed quite a surprising fact. It now has higher sales in Latin America than in Europe. Its traditional European market has fallen to be its third largest regional market worldwide. The company&rs...

The Golf still leads but sales fell nearly 20%

As we reported yesterday, EU auto sales fell to their lowest levels since 1990 in January. Now, the numbers for the top selling models in January have been released, and only three models had sales increases over last January. The Volkswagen G...

Luxury automakers remain successful

The latest report from the European Automotive Industry Association indicates that EU auto registrations fell to 918,280 cars in January 2013, 8.5% lower compared to the previous January, which sinks EU auto sales to their lowest levels since 1990...

It says the cuts are necessary to break even

Volvo has announced that it will let go of 1,000 temporary contract workers and white collar employees in Sweden to save $237 million (€313 million). The announcement comes after sales fell by 2.1% in January globally and fell 14.7% in the EU...

Aiming for profitability in first quarter of 2013

Tesla fourth quarter 2012 financial results show the first chances of profitability for the company soon, but it still lost money for the quarter. Tesla’s revenue was up over seven times to $306.3 million for the fourth quarter, compared...

Audi will double SUV lineup to compete against BMW

Audi is working on three new SUVs with hope to cut BMW's sales lead. The new crossovers will use the same platforms as the current Audi Q models but with sportier styling.  The cars will be called the Q2, Q4 and Q6. The Q2 will be bas...

Will be staffed by members of both companies

Volvo and its owner Geely will open a new research and development center in Volvo’s historic home of Gothenburg, Sweden. The center will employ 200 total people from both companies who will focus on new, shared technology. The specific ...

Qoros will appeal but is planning on other names

Audi has won a temporary injunction from a court in Hamburg against Chinese automaker Qoros for the name GQ3, according to German newspaper Die Welt. Audi claims that it has the rights to automotive names that combine Q and a single number. Q...

Want to challenge dominance by German brands

The Russian Trade Minister Denis Manturov is tired of seeing the country’s rich drive around in foreign luxury cars, mostly from Germany. He would like its domestic brands to create their own luxury brand that would take on BMW, Audi and Mer...

Responding to controversy about high pay

Volkswagen Chairman Martin Winterkorn is taking a 20% pay cut for 2012 over 2011, but do not worry he will still make €14 million ($18.7 million). This comes despite Volkswagen making a record profit and having record sales in 2012. Winterkor...