Tue, Sep. 2, 3:03 AM
- The European trade body in China has dismissed reports stating Beijing was planning to require foreign auto parts suppliers in the country to form local joint ventures.
- The rumors surfaced as Chinese regulators cracked down on the country's auto industry, seeking to enforce a 2008 antitrust law.
- Last month, China issued $201M in fines against 12 Japanese companies for manipulating prices, while many foreign automakers have lowered their spare parts prices to appease local regulators.
- Related Stocks: OTCQX:VLKAY, OTCPK:FIATY, OTCPK:DDAIY, TTM, TM, HMC, OTCPK:NSANY, OTCPK:HTHIY, OTCPK:SSUMY, OTCPK:MIELY, OTCPK:JTEKY, OTCPK:DNZOY
Tue, Aug. 26, 5:07 AM
- India’s antitrust regulator has fined major automakers over anti-trust violations, just days after authorities in China imposed similar penalties.
- The commission found that carmakers were able to charge high prices by providing spare parts only to authorized repair shops.
- A total fine of 25.4B rupees ($420M) was slapped on 14 automotive groups including Tata Motors (NYSE:TTM) and the local units of Honda (NYSE:HMC), Volkswagen (OTCQX:VLKAY), Fiat (OTCPK:FIATY), BMW (OTCPK:BAMXY), Ford (NYSE:F), General Motors (NYSE:GM), Mercedes-Benz (OTCPK:DDAIY), Nissan (OTCPK:NSANY) and Toyota (NYSE:TM).
Mon, Aug. 18, 2:04 AM
- China's anti-trust regulator has found Mercedes-Benz (OTCPK:DDAIY) guilty of manipulating prices for after-sales services, says Reuters quoting the Xinhua news agency.
- The auto market and other industries have been under investigation in China, as the country increases its efforts to bring companies into compliance with its 2008 anti-monopoly law.
- The legislation allows China's National Development and Reform Commission, to impose fines of up to 10% of a company's Chinese revenues for the previous year.
Wed, Aug. 6, 2:36 AM
- China's National Development and Reform Commission (NDRC) says it will penalize Audi (OTCQX:VLKAY) and Chrysler (OTCPK:FIATY) following its comprehensive antitrust investigation into the Chinese auto parts industry.
- "The two companies do have monopolistic practices. They will be punished soon," says NDRC secretary-general Li Pumin.
- Many foreign automakers in China including Mercedes-Benz (OTCPK:DDAIY) and Jaguar Land Rover (NYSE:TTM) have slashed their products and spare parts prices in recent weeks due to the NDRC's probes.
Sun, Jul. 27, 7:52 AM
- Audi (OTCQX:VLKAY) is now the next automaker to trim its spare-part prices in China, following an anti-monopoly probe which investigated the country's auto industry.
- Many global carmakers have faced scrutiny from China's state planner, the National Development and Reform Commission (NDRC), which accused foreign automakers of using a dominant market position to overcharge Chinese customers on products and spare parts.
- As a result of the NDRC's probe, many companies have cut service charges and spare-part prices in China including Jaguar Land Rover (NYSE:TTM) and Mercedes-Benz (OTCPK:DDAIY).
Mon, Jul. 7, 5:51 AM
- Daimler (DDAIF) is expecting its Mercedes-Benz brand to outperform rivals Audi and BMW by number of cars sold in China this year. Luxury car demand in China is predicted to exceed the U.S. by 2020, and Daimler is determined to secure its market share.
- The company presented a strategy last August that included plans to launch around 20 new or upgraded Mercedes-Benz models in China over two years. The tactic is estimated to increase Chinese sales by a third, to more than 300,000 cars a year by 2015.
Fri, Jul. 4, 8:13 AM
- Global Mercedes-Benz (DDAIF) sales climbed 13% in the first-half of 2014, due to high demand in China and other Asian markets. Sales in June were up 8% compared to a year earlier.
- Strong growth in Asian markets led China to report a 38% increase for the first six months of the year, accounting for 17% of the company's world-wide sales.
- However, other markets attained more modest growth trends. Sales in the U.S. and Europe grew by approximately 7%, while Germany, Mercedes' home market, fell flat in the first-half of 2014.
Fri, Jul. 4, 4:20 AM
- Daimler (DDAIF) is now rivaling Google, after unveiling a self-driving truck prototype, named Mercedes-Benz Future Truck 2025. Unlike Google's pod-shaped, two-seat vehicle, Daimler is aiming its driverless technology at freight transport and the trucking industry.
- The truck is intended to hit the market by 2025, although it will have to pass many regulatory and legal hurdles, and poses clashes with freight unions.
- Regarding the level of supervision required for operating the vehicle, Daimler announced "its truck model still requires human oversight while freeing the driver to perform back-office tasks such as handling bookings and billing, or planning future itineraries."
Sep. 17, 2013, 4:30 AM
- 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)
Sep. 10, 2013, 4:24 AM
- 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
Aug. 4, 2013, 3:50 AM
- GM (GM) produces six of the 10 most-expensive vehicles in terms of gas consumption, a study from tracking service GasBuddy.com shows.
- At 21.2 cents a mile, GMC is the costliest brand, followed by Cadillac at 19 cents, Mercedes-Benz (DDAIF.PK) at 18.6 cents, Jeep at 18.5 cents and Jaguar (TTM) at 18.4 cents.
- Honda (HMC) makes the most efficient vehicles with average consumption of 12.8 cents a mile, after which comes Kia (KIMTF.PK) at 12.9 cents.
- GasBuddy senior analyst Patrick DeHaan points out that "GMC's weighted to heavy-duty models, which aren't going to get as good fuel economy."
- Meanwhile, Isuzu Motors (ISUZF.PK) will reportedly use GM diesel engines in a new pick-up truck to be made in India. The engines will incoporate Isuzu technology.
Jul. 16, 2013, 3:17 AMEuropean car sales dropped to the lowest levels since 1993 in H1, sliding 6.7% to 6.44M, the European Automobile Manufacturers' Association said, as the economic slump continued to bite. June registrations tumbled 6.3% to 1.18M, the lowest for the month since 1996. Sales in four of Europe's biggest automotive markets contracted in June, although the U.K. grew 13%. Manufacturer June breakdown: GM (GM) -9.9%, Ford (F) +6.9%, Volkswagen (VLKPF.PK) -4.4%, Daimler (DDAIF.PK) +0.6%, Peugeot (PEUGF.PK) -11%, Renault (RNSDF.PK) +0.9%, Fiat (FIATY.PK) -14%. (PR) | 7 Comments
Jun. 9, 2013, 10:29 AM
May. 26, 2013, 9:58 PM
Jan. 2, 2013, 7:20 AMAutomobile industry forecasters predict robust vehicle sales in the U.S. in 2013 as the momentum picked up in the sector in 2012 carries through into the new year. Polk's Anthony Pratt sees a larger focus on large pickup trucks this year, while a large slate of new models could also help stoke up demand. Fiscal cliff drama and a spurt of nasty winter weather in the last week of 2012 could have also pushed some sales forward. | 5 Comments
Jan. 2, 2013, 5:51 AMNew-vehicle registrations are expected to grow to 15.3M this year, research firm Polk says, with actual sales possibly reaching 15.4M from 14.4M in 2012 as the industry benefits from increased loan and lease access for consumers, and from refreshes in the midsize-car segment. Sales are also expected to top 16M in 2014 for the first time since 2007. The sales figures for 2012 are due tomorrow. | 5 Comments
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