Jul. 10, 2014, 11:09 AM
- China decides to waive a 10% tax on new electric car purchases as part of its support for the industry.
- The tax waiver will run until the end of 2017 and could help EV sellers in the region such as Tesla Motors (TSLA -1.3%), Volkswagen (VLKAY), and BMW (BAMXY).
- Shares of Chinese EV automaker BYD Company rose in Hong Kong trading off the development.
Jul. 7, 2014, 8:56 AM
- Retail automobile sales in China rose 14% to 1.47M units in June, according to fresh data from the Passenger Car Association.
- Sales for the first six months of the year are up 11% to 9.09M.
- Major automakers such as General Motors (GM), Volkswagen (VLKAY), and BMW (BAMXY) have been increasing their presence in smaller cities in China this year.
Jul. 4, 2014, 2:30 AM
- Confirming earlier reports, BMW (BAMXY) will open a new $1B assembly plant in Mexico, which will produce 150k cars a year. The facility will employ an initial workforce of 1,500, and begin assembling vehicles in 2019.
- Many automakers are shifting manufacturing facilities to Mexico, to take advantage of the country's growing industrial base and tariff-free access to the U.S. market.
Jul. 1, 2014, 1:50 PM
Jul. 1, 2014, 6:44 AM
- BMW's (BAMXY) new assembly plant in Mexico will be able to produce 150k cars a year, Reuters reports. The company has still not publicly confirmed the new facility, but is expected to make the announcement on Thursday.
- The new plant will rival Daimler and Nissan, which have announced their 50-50 joint venture in Mexico last week.
Jun. 17, 2014, 8:08 AM
- European car registrations rose 4.5% in May to 1.13M units to mark the 9th consecutive month of a year-over-year sales gain.
- All the EU nations showed positive growth during the month with the exception of Italy which saw a 3.8% falloff.
- Sales growth by automaker: Volkswagen (VLKAY) +9.6%, Peugeot (PEUGY) +4.3%, Fiat (FIATY) +5.6%, General Motors (GM) -6.8%, Renault (RNSDF) +18.8%, Daimler (DDAIF) +3.6%, Toyota (TM) +3.4%, Ford (F) -2.0%, BMW (BAMXY) -2.2%, Fiat (FIATY) -2.7%, Nissan (NSANY) +10.7%, Hyundai (HYMLF) -2.7%.
Jun. 13, 2014, 11:41 AM
- European Automobile Manufacturers’ Association President Carlos Ghosn calls on EU policy makers to allow the industry the flexibility to innovate.
- The Renault CEO says the EU needs to be "technology-neutral" as well as remove non-tariff barriers and invoke regulatory cooperation.
- European automakers (PEUGY, VLKAY, DDAIF, RNSDF, BAMXY) have argued in the past that strict EU regulations have kept them stuck in neutral.
Jun. 13, 2014, 5:30 AM
- BMW (BAMXY) says it met with U.S.-based electric car maker Tesla (TSLA) this week to discuss a possible joint operation regarding electric vehicle technology.
- "Both companies are strongly committed to the success of electro-mobility and discussed how to further strengthen the development of electro-mobility on an international level," a BMW spokeman announced.
Jun. 11, 2014, 8:01 AM
- Ford (F) and Honda (HMC) will gain 50 bps of U.S. market share over the next three years while other major automaker remain level, according to estimates from Bank of America Merrill lynch Global Research.
- The investment firm sees a U.S. SAAR selling rate of 18M vehicles per year by 2018.
- 2017 market share forecast: General Motors (GM) 17.9%, Ford (F) 16.2%, Toyota (TM) 14.4%, Fiat Chrysler (FIATY) 11.5%, Hondda (HMC) 10.3%, European automakers 8.3% (BAMXY, DDAIF, VLKAY), Hyundai-Kia (HYMLF) 8.1%
Jun. 6, 2014, 7:06 AM| Comment!
Jun. 3, 2014, 1:07 PM
Jun. 3, 2014, 2:17 AM
- BMW (BAMXY) plans to cut €100M ($136M) of German labor costs every year after 2015.
- The German cuts come as the company decides which plants in Bavaria are financially worth it to build it's new models.
- However, BMW also announced it would invest $1B to enlarge its U.S. plant in South Carolina, increasing the number of employee's to 8,800. The U.S. plant will be the company's biggest production facility by 2016.
May. 29, 2014, 8:19 AM
- Consumer Reports says fuel economy tests on the Honda Accord hybrid indicate the model failed to deliver the 47 mpg posted on the window sticker on dealer lots.
- Testing by CR found a combined highway and city rating of 40 mpg for the Accord hybrid, a bit below the rating of the Toyota Prius hybrid.
- The bigger picture: Consumer Reports has found several cases of hybrids falling short of the posted fuel economy rating. Recent reviews have also suggested that some hybrid models aren't riding smoothly or handling well under duress.
- Related stocks: HMC, TM, FUJHY, BAMXY, FIATY
May. 29, 2014, 2:08 AM
- Hyundai (HYMLF) has unveiled two sedans built exclusively for its home market: The new AG, and a diesel version of the Grandeur (Azera).
- The South Korean company has been concerned with growing imports from Europe and the U.S. due to free trade deals in recent years. These tariff cuts have led to increasing imports from car makers like BMW (BAMXY) and Audi (VLKAY). A stronger Korean Won has also squeezed earnings in overseas markets like the U.S.
- Combined with affiliate Kia Motors (KIMTF, HYMLF), Hyundai is the world's fifth biggest automaker.
May. 28, 2014, 12:37 PM
- BMW (BAMXY) says it will invest in a project to build 50 electric vehicle charging stations in Shanghai as a first step in a broader roll-out.
- The German automaker will partner with State Grid Shanghai Electric Vehicle on the initiative.
- The big picture: Though the Chinese government has a stated goal of seeing 500K hybrid and EVs on the road by 2020, it's been slow to roll out a free licensing program on a large scale and hasn't addressed the infrastructure needs of for that many vehicles.
May. 23, 2014, 1:53 PM
- Ford (F +0.5%) thinks it can take on luxury automakers such as Audi (VLKAY), Mercedes-Benz (DDAIF), and BMW (BAMXY) in Europe despite misfiring with its previous attempts at moving upscale.
- The automaker will launch new models under the Vignale brand and will sell the Mustang starting in 2015. The 2015 Mondeo will be the first Ford car to get the Vignale treatment.
- A launch of Lincoln on the continent is also up for discussion.
- European-based automobile industry analysts have expressed some doubts on Ford's ambitions to rattle the sector.
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