Tag Archive
Germanys Electric Car P.R. Stunt – US-FOREX.US
European carmakers are struggling to reinvent themselves in an effort to fight falls in sales; on Wednesday Berlin predicted 1 million electric cars on Germany’s roads by 2020, as Europe’s largest economy tries to create a positive impact on the ailing automotive sector. But adding electric cars to the mix won’t do the trick,… »
En Route VW And Porsche – US-FOREX.US
Europe’s biggest carmaker, Volkswagen, is finally taking over Porsche after agreeing on Thursday to buy a 42% stake in the sports car unit of debt-ridden Porsche, ending months of fractious relations between the two companies. Volkswagen expects the deal to be completed by 2011 and provide a total of 700 million euros in savings… »
VW And Porsche United- US-FOREX.US
Europe’s biggest carmaker, Volkswagen, is finally taking over Porsche after agreeing on Thursday to buy a 42% stake in the sports car unit of debt-ridden Porsche, ending months of fractious relations between the two companies. Volkswagen expects the deal to be completed by 2011 and provide a total of 700 million euros in savings… »
The Opel Saga Continues – US-FOREX.US
It had seemed like a done deal. Canadian auto parts supplier Magna said it had reached an agreement in principle with General Motors’ management over a contract to buy a stake in GM’s European unit Adam Opel. But on Friday, Opel’s other bidder, Belgium-listed holding RHJ International, said it is still “very much” in the… »
Magna Closing In On Opel- US-FOREX.US
The Adam Opel saga is finally coming to an end. Canadian auto parts supplier Magna has reached an agreement in principle with General Motors’ management over a contract to buy a stake in General Motors’ European unit Opel, according to reports.The news follows weeks of constant bickering between the bidders – including Italy’s Fiat and… »
Rocky Road For Russian Auto Sales – US-FOREX.US
European carmakers which had been pinning their hopes on tasty opportunities in the Russian car market will have to look elsewhere in the short term. “We do not expect any substantial improvements in the sales figures in the coming months while the government doesn’t plan to implement any additional incentive measures for car buyers,” analysts… »
Jaguar Land Rover Steers Clear Of Bailout – US-FOREX.US
Tata Motors, the Indian owner of Jaguar Land Rover, told the U.K. government on Tuesday it no longer needs support after securing private funding, the latest sign that credit markets have eased.Tata has secured some direct bank loans, as well as guarantees that would allow it access to a 340-million-pound European Investment Bank loan,… »
BHP Takes On Jack The Knife- US-FOREX.US
HONG KONG -
“Jack the Knife” is back. Jacques Nasser, the former Ford supremo, who acquired the nickname for his controversial cost-cutting efforts at the car maker, is going to chair BHP Billiton as it completes the merger of its Australian iron-ore business with Rio Tinto and continues with its price dispute with Chinese steel mills.Nasser… »
European Automakers In Danger Zone – US-FOREX.US
Some of Europe’s biggest automakers surprised the market after posting substantial positive free cash flows during a busy earnings week for the sector.German automaker Volkswagen
on Thursday posted an actual profit with a hefty 12.3 billion euro cash reserve, while France’s Renault
posted a loss it managed to generate positive free cash flow of 848 million euros… »
VW Raising Cash No Way – US-FOREX.US
Europe’s biggest carmaker, Volkswagen, is reportedly considering a capital increase of up to 4 billion euros to protect its credit rating after a merger with Porsche Last Thursday Porsche Chief Executive Wendelin Wiedeking was ousted after the Piëch and Porsche families ended a longtime struggle over the future of the debt-laden German sports car… »