Ferrari’s prancing horse gallops on as luxury car maker raises outlook November 4, 2019 Luxury car maker Ferrari raised its outlook on Monday, after strong sales of its Portofino and 812 Superfast models drove “solid” results for the third quarter. The company nicknamed the Prancing Horse said a new brand strategy would help it navigate to even more growth, as its Milan-listed shares hit an all-time high today of [...]
US may pull automotive tariffs after ‘good conversations’ with manufacturers November 3, 2019 The United States may decide not to slap trade tariffs on car imports later this month, after “good conversations” with manufacturers in the EU, Japan and Korea, US commerce secretary Wilbur Ross said. Officials must decide whether to impose tariffs of as much as 25 per cent on vehicles and parts by 14 November. They [...]
Car makers suffer ‘another bitterly disappointing month’ as Brexit uncertainty maintains grip October 31, 2019 The malaise that has gripped Britain’s car makers for the last year deepened in September, as the threat of a no-deal Brexit slammed the brakes on investment and caused production to stall. Car manufacturing, an industry which has felt the effects of Brexit uncertainty more sharply than most, fell 3.8 per cent last month to [...]
Q&A: What is behind Fiat Chrysler’s proposed mega-merger with Peugeot? October 30, 2019 After Fiat Chrysler’s (FCA) deal with Renault fell apart over the summer, chairman John Elkann has wasted no time in finding a new suitor – Peugeot-owner PSA. The two European automakers are in talks over a potential tie-up that could create a £36bn giant, in a move which highlights how urgently car makers are looking [...]
Renault board ‘to discuss chief executive’s future’ tomorrow October 10, 2019 Renault chief executive Thierry Bollore is said to have avoided the matter of his potential exit from the firm in a conversation with staff today. The car maker’s board are due to meet tomorrow to discuss a potential management shake-up. Le Figaro newspaper reported that chairman Jean-Dominique Senard was poised to kick off a process [...]
Road to recovery? Nissan appoints Makoto Uchida as CEO to turn around stricken car maker after Ghosn scandal October 8, 2019 Nissan has named the head of its Chinese operation, Makoto Uchida, as its new chief executive, as the firm tries to put the brakes on more than a year of chaos at the firm. The 53-year-old Japanese executive has the task of turning around the stricken car maker, which has become ensnared in a combination [...]
Chinese success propels Mercedes-Benz to record third-quarter sales October 7, 2019 Mercedes-Benz enjoyed record sales in the third quarter, despite a slowdown in the global automotive market, as a strong showing in China boosted the German luxury brand. The Stuttgart-based manufacturer sold 181,233 cars in China in the three months ending in September, a nearly 13 per cent increase. Read more: Daimler in fourth profit warning [...]
Aston Martin faces calls for board shake-up October 6, 2019 A year on from its disastrous stock market float, luxury car giant Aston Martin is facing calls to bring in new directors on its board. The British marquee brand has suffered a drop in shares of nearly 75 per cent since it floated in October this year. It has stalled in the face of mounting [...]
Aston Martin: The float that left the City shaken, not stirred October 2, 2019 Over the years, Aston Martin observers have watched the firm’s most famous client, James Bond, career into the river Tiber, skid across the polar ice caps and hurtle off an alpine road in its cars. Each time, ludicrously, he emerges alive. So when chief executive Andy Palmer told investors: “We don’t make cars, we make [...]
Jaguar Land Rover to shut factories for a week after Brexit September 26, 2019 Jaguar Land Rover’s factories will shut up shop for a week in November to deal with Brexit, its boss has said. Asked whether the firm was thinking about shutting the plants, chief executive Ralf Speth said: “We cannot think about it, we just have to do it.” Read more: Car production numbers post rise for [...]