The overall tone at the Geneva Motor Show is positive as sales patterns in Europe have stabilized and even shown some pockets of strength. Perhaps the biggest question is if the sales gains are organic or the results of heavy discounting? Autohaus PulsSchlag reports price cuts of at least 10% at most major manufacturers.
European automakers are downplaying the impact on sales in Russia from the ongoing conflict in Ukraine. Russia is Europe's second largest automobile market and is expected to pass Germany within a few years.
Jeep unveiled its all-new 2015 Renegade compact crossover SUV. The model is unique in that it will feature seven different engine choices tailored to different global markets.
BMW announced plans to build over ten new smaller models on its latest platform. The Mini Clubman concept has created a stir with analysts.
New models from Ferrari, Lamborghini, and Maserati show that the ultra-wealthy haven't been forgotten by automakers at the show.
Fiat (FIATY) CEO Sergio Marchionne outlined how the company might pay for the acquisition of Chrysler shares during a wide-ranging press conference at the Geneva Motor Show.
The exec doesn't want to see Fiat sell assets to raise funds, but points to a possible convertible bond or capital raise. He also noted that by scrapping its dividend some extra funds are piling up for the automaker.
A full plan from Fiat on Chrysler funding will be disclosed to shareholders in May.
New U.S. auto sales are expected to rise just 0.8% Y/Y in February, according to Edmunds.com, which expects to be hampered by poor winter weather for the second month in a row.
Edumnds estimates 1.2M new cars and trucks will be sold in the U.S. in February, up from slightly less than 1.2M a year ago and improving from January's total.
Among major auto makers, roughly 5% sales declines are projected for GM and Ford (F), with more modest sales drops seen at Toyota (TM) and Honda (HMC); Fiat Chrysler (FIATY) and Nissan (NSANY) are likely report double-digit sales increases, and Hyundai (HYMLF) sales are expected to rise 2%.
Automobile sales made an impressive jump in the second week of February, according to data compiled by J.D. Power.
Winter storms had auto sales for the month tracking 5% lower than a year ago, but a strong bounce has now cut the falloff to closer to 1%. A monthly forecast for 15.7M vehicles delivered is back on track with more late-month momentum expected.
Perhaps of equal importance, pricing has held up with the average transaction price of $29.9K looking good for a challenging month to get potential buyers onto dealer lots.
What to watch: Analysts know February alone won't solve the inventory issue of the Big Three (GM, F, FIATY), but an improving trend needs to be confirmed to alleviate concerns. The month will also give a good read on several head-to-head model battles between Toyota (TM) and Honda (HMC).
Employee voting ends today at a Volkswagen (VLKAY) plant in Tennessee on the issue of joining the UAW.
The stakes are very high with the UAW still searching for its first representation at a plant of a foreign automaker.
The Big Three (GM, F, FIATY) are quiet on the issue, but wouldn't mind a more level playing field.
What to watch: There are close to 20 automobile plants in the South at risk of unionization if Chattanooga falls. A Mercedes-Benz (DDAIF) factory in Alabama and Nissan (NSANY) location in Mississippi could be the first two on the list.
Fiat S.p.A. Torino is the holding company of the Fiat Group. Through its subsidiaries, Co. is engaged principally in the manufacture and sale of automobiles, commercial vehicles and agricultural and construction equipment. Co. is organized into operating sectors, divided in the two major...More