A number of analysts believe the growth in auto sales last month can be partly attributed to this year’s unseasonably mild winter, which had consumers flocking to dealers earlier than the traditional spring selling season; other factors include a plethora of new models hitting the streets as well as lower unemployment statistics and easier access...
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A few years ago, Italian auto giant Fiat was very close to partnering up with General Motors. However, that deal went sour at the last minute and a few years after that, Fiat bought a big chunk of Chrysler in its quest to have a large slice of the American market. More recently, the company...
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The venture will also give Peugeot improved access to overseas markets such as China and South America; it could possibly even witness a return of the brand to the US for the first time since 1992.
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Frank Ahrens, a spokesman for Hyundai, said the car-to-car rivalry between the two brands, extends to all segments; further complicating matters is the fact that although Hyundai and Kia are overseen by the same chairman (Chung Mong Koo) and share a development center, they are run as two separate companies and arch rivals at that.
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At present, Lotus requires funding of around £500m ($790 million) in order to fund the development of future street cars, which includes new Elan, Elise and Esprit models.
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Considering that a year ago, Chrysler reported a net loss of $652 million and that 2011’s income exceeded estimates, the report represents rather good news.
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Yet, despite enthusiasm from within the ranks of M division, including development boss Albert Biermann, it’s currently proving tough to convince management at BMW itself.
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Martin Winterkorn, CEO of Volkswagen and Porsche, is clearly frustrated at the present lack of integration between the two companies, something he reiterated earlier this month at the North American International Auto Show in Detroit.
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In fact among the 200 executives surveyed anonymously, two-thirds predict that sales of both Hybrid and pure EVs will only account for around 6 percent of total vehicle sales in Europe and the US by 2025
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Light trucks have also been doing well, with the breadwinning F-150, along with the outgoing Escape and Explorer looking to post strong gains (current estimates predict around a 30 percent increase by the time all’s said and done), according to a official statement released by the company.
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Reportedly talks are underway between Mahindra & Mahindra and Saab’s administrators, though so far, as to which Saab assets are up for grabs, little has been revealed, Mahindra & Mahindra in particular, remaining very tight lipped on the matter.
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Current estimates from both groups predict even stronger demand in 2012, with current projections set at some 13.8 million units.
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Kevin Wale, who head’s up the brand’s operations in that country, said at a recent press conference in Shanghai, that the brand plans to boost production by some 40 percent in the next two years.
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It’s probably not surprising, but considering the money it’s already put out to try and save Saab, China’s Zhejiang Youngman Lotus Automobile Co Ltd, is still interested in acquiring what assets it can
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Youngman has repeatedly tried to buy into Saab, but the latest deal was vetoed by General Motors, which still owns licenses for Saab technology.
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The move comes as Infiniti makes plans to increase global sales to some 500,000 units annually, with the greatest gains likely in China and other South East asian markets.
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Now that Da Pang and Youngman have agreed to buy the Swedish Automaker, lock stock and barrel (for a price of 100 million euros/$142 million), Saab can now get on with what it does best, namely making quirky cars.
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That said, both brands plan on achieving combined global sales of 7 million units next year, up from more than 6.5 million in 2011, which also marked a record total.
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VW was the first western automaker to set up shop in China and has been selling cars there for around three decades. And it looks like its goal of becoming and remaining the world’s biggest automaker in terms of volume is likely to bear fruit, for in addition to VW products, it’s also seen demand...
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As the Yen continues its march against the dollar, Japanese manufacturers are less likely to offer incentives to move metal off dealer lots; in fact average industry wide spending on incentives fell some 9.6 percent through September, down to $2,498 per vehicle.
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VW on the other hand, claims Suzuki also violated terms of the contract by failing to disclose that it had done a deal with FIAT to supply engines, yet Chairman Suzuki maintains that this allegation “significantly disparaged Suzuki’s honor” and continues to seek an apology and retraction from the Wolfsburg company.
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In North America, where Jaguar Land Rover has been struggling recently, September represented a refreshing turn of events, demand up by some 10 percent, largely aided by the XF, which is proving quite popular with buyers here.
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By joining together, both companies will be able to develop competitive advantages in the marketplace, thanks to reduced R&D and operating costs.
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At present, GM hasn’t made any official announcements regarding the move, though an article in Nashville based newspaper, the Tennesseean claims the General is seriously considering such a strategy, citing economic officials.
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