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Wednesday, Nov 203:46 PMStrong demand for BMW i3 and i8 electric offerings
Wednesday, Nov 203:46 PM| Comment!
- BMW (BAMXY -1.2%) has had orders for nearly 10K of its i3 electric cars, global sales chief Ian Robertson said at the LA Auto Show. First deliveries were made in Germany last week, and the vehicle will go on sale in America during Q2 of 2014.
- The i8 plug-in hybrid sports model, which will be introduced in mid-2014, has already sold out for its first year of availability.
- Previous: BMW's new i-brand launches
Tuesday, Nov 192:49 AMEuropean car sales continue recovery
Tuesday, Nov 192:49 AM| 1 Comment
- European car sales rose for a second month in a row in October, climbing 4.6% on year to 1.04M registrations after a 5.5% gain in September.
- However, registrations fell 3.1% in January-October, strengthening the likelihood that the market will fall for a sixth consecutive year in 2013.
- The Spanish car market jumped 34.4%, while most other markets grew moderately, although Italy fell 5.6%.
- Toyota (TM) +16.5%, Renault (RNSDF) +14%, Volkswagen (VLKAF) +5.7%, General Motors (GM) +6.2%, Daimler's (DDAIF) Mercedes-Benz +8.5%, and BMW (BAMXF) +0.3%.
- However, Fiat (FIATY) -7.3%, Honda (HMC) -6.4%, Peugeot (PEUGF) -0.7% and Ford (F) -0.2%. (PR)
Wednesday, Oct 163:50 AMEuropean car sales return to growth
Wednesday, Oct 163:50 AM| 1 Comment
- European new-car sales increased at the fastest rate in over two years in September, climbing 5.5% on year to 1.19M vehicles after dropping 4.9% in August.
- In January-September, sales fell 3.9% to 9.34M cars.
- Last month's figures were boosted by the end of the eurozone recession, price cutting, and a Spanish government-incentive scheme that helped demand jump 29%.
- "Car sales in the EU are showing signs of improvement, indicating that the worst is behind us," says Ernst & Young's Peter Fuss. "The sales, however, continue to be artificially boosted by huge discounts and self-registrations by dealers.
- Registrations in the U.K. rose 12% and 3.4% in France, but dropped 1.2% in Germany and 2.9% in Italy.
- GM's (GM) sales +5.4%, Ford (F) +5%. (PR)
- Related tickers: PEUGF.PK, HMC, FIATY.PK, TM, VLKAF.PK, BAMXF.PK, DDAIF.PK, RNSDF.PK.
Tuesday, Oct 19:29 AM
Monday, Sep 309:07 AMBMW, Hyundai, and Kia recall 181K vehicles in China
Monday, Sep 309:07 AM| Comment!
- BMW's (BAMXY.PK) China venture, BMW Brilliance Automotive, is recalling 75.8K 5 Series vehicles to fix faulty socket adapters for tail lights. 2 months ago, the company recalled 143K 5 Series models due to problems with the electric power steering system.
- Hyundai (HYMLF.PK) is recalling 65K Hyundai and Kia cars due to problems with the brake pedals. And Kia's separate China JV is recalling 41K vehicles for the same reason. Previously, Hyundai and Kia recalled 660K cars in South Korea to repair a faulty brake switch.
Tuesday, Sep 174:30 AMEuropean car sales fall back again
Tuesday, Sep 174:30 AM| 1 Comment
- European car sales dropped 4.9% on year in August to 686,957 units after rising 4.9% in July as new registrations fell in France, Italy and Germany last month. However, the U.K. again continued to enjoy growth, with volumes increasing 10%.
- In January-August, European sales dropped 5.2%.
- Peugeot (PEUGF.PK) had a particularly bad August as sales slumped 18%, with Honda (HMC) -19.6%, Fiat (FIATY.PK) -4.9%, Toyota (TM) -4%, Volkswagen (VLKAF.PK) -11%, Audi -6.4% and Ford (F) -0.9%,
- BMW (BAMXF.PK) +9.9%, Daimler (DDAIF.PK) +5.5%, Renault (RNSDF.PK) +5.8% and GM (GM) +0.7%.
- The data comes after car executives had expressed hope at the Frankfurt Motor Show that the European car market was stabilizing. (PR)
Tuesday, Sep 104:24 AMEuropean car market stops skidding
Tuesday, Sep 104:24 AM| 6 Comments
- The auto market in Europe is stabilizing after five years of steep declines, car executives have said, but they expect the recovery to be long and slow due to high unemployment and soft bank lending in the region.
- Europe should "see the end of the tunnel next year," said Renault (RNSDF.PK) chief Carlos Ghosn, who was speaking at the Frankfurt Motor Show.
- Meanwhile, Volkswagen (VLKAF.PK) aims to increase car sales to 9.5M this year from 9.3M in 2012, helping to boost shares 2.1% in Frankfurt. Brand sales dropped 1% in August to 461,600 cars, giving a year-to-date figure of 3.84M. That up 3.1% from last year.
- Auto Tickers: F, GM, TM, HMC, CARZ, FIATY.PK, PEUGF.PK, BAMXF.PK, DDAIF.PK HYMLF.PK, NSANF.PK
Tuesday, Jun 183:06 AMThe EU new-car market showed no signs of bottoming out in May as registrations dropped 5.9% to 1.04M units, the lowest level for the month since 1993. The fall followed a 1.7% gain in April. In January-May, registrations slid 6.8% to 5.07M vehicles. GM (GM) was among those to suffer the most in May with an 11.3% decline. Toyota registrations dropped 4.9% but those of Ford fell just 0.3%. (PR) |Tuesday, Jun 183:06 AM| 1 Comment
Wednesday, Jan 165:06 AMEuropean new-car registrations slumped 16.3% Y/Y to 799,407 vehicles in December, the sharpest decline since October 2010, as high unemployment and an unwillingness by banks to finance consumer purchases took their toll. For 2012, EU sales -8.2% to 12.05M, the steepest annual drop since 1993. GM (GM) and Ford (F) sales in Europe cratered 27% each in December, although Korean brands Hyundai and Kia, with their affordable cars and long warranties, climbed 10.5% and 6.8% respectively. |Wednesday, Jan 165:06 AM| 6 Comments
Tuesday, Oct 162012, 4:45 AMRBS (RBS) will be given permission this week to leave the Asset Protection Scheme, a state-backed insurance program covering the bank's old "toxic assets," the FT reports. Exiting the scheme, which has cost RBS £2.5B in premiums, is seen as a first step towards the government selling its 82% stake in the bank. Meanwhile, RBS has suspended Jezri Mohideen, its head of rates trading in Europe and Asia Pacific, over the Libor scandal. Mohideen is the most senior employee to be put on leave so far. |Tuesday, Oct 162012, 4:45 AM| Comment!
Tuesday, Oct 162012, 4:32 AM
Friday, Feb 242012, 10:44 AMFed up with banks not interested in making loans, European companies are turning more to bond issuance, and - drum roll - overhauling finance units to take advantage of the candy handed out by the ECB. BMW (BAMXY.PK), Daimler (DDAIY.PK), and Siemens (SI) are among the firms that may participate in next week's LTRO. |Friday, Feb 242012, 10:44 AM| Comment!