UPDATED Tuesday morning news round-up

early edition - picture courtesy wikia.nocookie.net

Italy’s Bologna Motor Show cancelled due to lack of exhibitors – Reuters. Organizer: “The 38th edition of the Bologna Motor Show has been cancelled … because of the total absence of auto manufacturers.”

Tesla’s Model S overtakes VW Golf as Norway’s best-selling car – Reuters. Electric cars are popular in Norway due to lavish subsidies, free parking, government-provided re-charging stations, the right to use express lanes on highways and exemptions from tolls. Some drivers pay as much as $20,000 extra to get the new Model S from existing owners.

Honeywell projects big jump in automotive turbos by 2018 – Reuters. Thinks  40 percent of all vehicles sold globally in 2018 will be turbocharged. Biggest demand seen in China.

Ford targets one-third increase in capacity within 5 yrs – Reuters.  Wants to build around 8 million units worldwide by the middle of the decade.

Goldman unit to exit Geely Auto with selldown of up to $315 mln – Reuters. They sell their entire holdings in Geely at a 7 percent discount.

VW brand auto sales bounce back to 6.8 pct growth in September  – Reuters.  With Audi having released stellar results yesterday, Group sales should be positive when released later in the week.

Thai floods breach industrial park, but no replay of 2011 seen  – Reuters.  Car companies feet dry so far.

Aston Martin drops supermini Cygnet from its range – Reuters. It’s official now.

Toyota says Sept China auto sales up 63.5 pct y/y – Reuters. Careful: This compares with an absolutely atrocious September 2012 when Japanese cars and car dealerships were torched in China. For the first nine months, sales are down 0.5 percent, but stabilizing.

Nissan says Sept China auto sales up 83.4 pct yr/yr – Reuters. See above. Up 0.2 percent for the first 9 months.

Honda says Sept China auto sales more than double on year – Reuters. See above.   Up  5.8 percent for the first 9 months.

 

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