Top News:
- VW lowers sales goal as demand in China slows down – Reuters: The German group on Wednesday scaled back its expectations, predicting full-year sales to be flat on last year’s record 10.1 million cars, having…
- Volkswagen second-quarter profit grows on Europe recovery, cost cuts – Reuters: DE) posted a 4.9 percent gain in second-quarter earnings, benefiting from improving auto demand in higher-margin western European markets and…
- GM to invest $1 billion in India, plans to double market share by 2020 – Reuters: India’s automobile market has been sluggish for the past few years, with annual sales of less than 3 million cars. But by 2020 analysts expect India to…
- Average age of U.S. fleet hits record 11.5 years, IHS says – Automotive News: The average age of light vehicles on the road in the U.S. reached a new all-time high of 11.5 years at the end of 2014, while the total light vehicles in operation hit a record 257.9 million, up 2.1 percent from 2013, IHS Automotive said today.\
- US: Negative pricing pressure in China continuing – Ford’s Fields – Just-auto: Ford CEO Mark Fields has told analysts that current trading conditions in China are creating negative pricing in the automotive sector, although long-term prospects for the world’s biggest market remain very bright.
- FRANCE: Renault looks to group suppliers near plants – Just-auto: Renault says it is looking to establish suppliers as close as possible to its French sites in a bid to drive component delivery efficiency
- GM to invest $1 bln in India, double market share by 2020 – Reuters: General Motors Co will invest $1 billion in the next few years to turn operations in India into a new global auto manufacturing and export hub aimed at boosting sales in fast-growing emerging markets, top executives said on Wednesday.
- Peugeot beats turnaround goals, but new challenges loom – Reuters: Core manufacturing earnings jumped to 975 million euros from 7 million, lifting the auto division operating margin to 5 percent, a level not seen for…
- Peugeot revival aided by European rebound – FT: French carmaker warns on impact of declining sales in emerging markets such as Russia and Brazil