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… »
AB Inbev Tiptoes Into Second Half Of 2009 – US-FOREX.US
There’s no reason to get excited yet. Anheuser-Busch InBev, the brewer of Stella Artois and Budweiser, said on Thursday profits grew 28% in the second quarter but warned that it will come under significant pressure in the second half of the year as beer volumes drop.Shares of AB InBev
, which have more than doubled since… »
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,… »
InterContinentals Inhospitable Conditions – US-FOREX.US
The green shoots appearing in the wider economy seem to be steering clear of the hotel industry. A recovery for the industry may be two years away, Andrew Cosslett, the chief executive of Intercontinental Hotels, said on Tuesday as the company posted a net loss of 56 million for the second-quarter after writing down the… »
Car Earnings At Risk As Incentives Dry Out – US-FOREX.US
Don’t be fooled. Car sales in the U.K. rose for the first time since April 2008, thanks to the positive push given by scrapping incentives following similar initiatives elsewhere in Europe. But the impact is likely to be short-lived.Analysts at Credit Suisse said on Thursday they still preferred premium car markets, which haven’t been benefited… »
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… »