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Volvo Cars global sales record in 2018

Volvo Cars set a new global sales record in 2018, breaking the 600,000 sales milestone for the first time ever since the company was founded in 1927. The company’s sales rose 12.4 per cent to 642,253 cars in 2018, compared with the same period the year before. This is the fifth consecutive year of global sales record for Volvo Cars. In 2017, the company sold 571,577 cars.

The new sales record in 2018 underscores strong demand for Volvo’s renewed product portfolio, led by its award winning SUV line-up, across the core regions of US, China and Europe. In December the company sold 60,157 cars, up 2.8 per cent compared with the same period last year.

In the January to December period, US sales grew by 20.6 per cent to 98,263 cars compared with the same period the year before. The strong performance came on the back of growing demand for its SUV line-up, led by the XC60. The made-in-the-US S60 cars have also started reaching dealerships and should contribute to volumes in 2019. In December, Volvo Cars sold 8,826 cars in the US market.

Source : Strategic Research Institute
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Volvo to take USD 778 million emissions hit

Reuters reported that Sweden's Volvo is setting aside 7 billion Swedish crowns (USD 778 million) to cover costs related to its admission in October that its truck and bus engines could be exceeding limits for nitrogen oxide emissions. The company, which makes trucks, construction equipment and buses, said on Thursday the estimated costs were based on factors including vehicle testing and statistical analysis, and were made in dialogue with relevant authorities.

Volvo said in October its truck and bus engines might be exceeding limits for toxic nitrogen oxides because an emissions control component it uses was degrading. Volvo said in a statement that "The Volvo Group will continuously assess the size of the provision as the matter develops.”

Volvo said the provision would impact operating income in the fourth quarter of 2018, while the negative cash flow effect would start in 2019 and gradually ramp up in the coming years.

Source : Reuters
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Ford recalls over 953,000 vehicles to replace inflators

Wkrn reported that Ford is recalling more than 953,000 vehicles worldwide to replace Takata passenger air bag inflators that can explode and hurl shrapnel. The move includes 782,000 vehicles in the US and is part of the largest series of recalls in US. History. Included are the 2010 Ford Edge and Lincoln MKX, the 2010 and 2011 Ford Ranger, the 2010 to 2012 Ford Fusion and Lincoln MKZ, the 2010 and 2011 Mercury Milan, and the 2010 to 2014 Ford Mustang.

Some of the recalls may be limited to specific geographic areas of the US.

At least 23 people have been killed worldwide by the inflators.

Ford says it doesn't know of any injuries in vehicles included in this recall. Dealers will replace the inflators.

Takata uses the chemical ammonium nitrate to create an explosion to inflate air bags. But it can deteriorate over time due to heat and humidity and explode with too much force, blowing apart a metal canister designed to contain the explosion.

Takata recalls are being phased in through 2020.

Source : Wkrn
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Tesla close to Model 3 approval for Europe and China deliveries

Automotive News reported that Tesla has yet to obtain approval from authorities in Europe to begin selling the Model 3 in the region, though this is not expected to impede the automaker from starting deliveries next month, according to a person familiar with the matter. The company has been working in close collaboration with authorities and expects to receive certification after some personnel return from the holidays, said the person, who asked not to be identified because the deliberations are not public. This timing is in line with what Tesla has been targeting for months, the person said.

Starting Model 3 deliveries in Europe is a key priority for CEO Elon Musk. He has pointed to sales of the sedan in Europe and China as a main reason he is not concerned about any potential setback caused by the US federal tax credit toward Tesla purchases halving to USD 3,750 as of January 1.

Tesla is targeting the BMW 3 series and VW Golf with its Model 3. While pickup trucks and SUVs account for about 70 percent of US vehicle sales, Europeans still favor cars.

Mr Musk said during the October earnings call that “We’re excited to bring Model 3 to Europe and China early next year, given that the market for midsize premium sedans in those regions is even larger than in North America.”

Tesla previously obtained approval for safety, noise, environmental and production requirements through the Dutch regulator known as RDW. Under European Union rules, once an automaker’s new vehicle has been certified by one national authority, the approval is applicable across the trade bloc.

The company has started receiving systems-type approval for components of the vehicle and is awaiting whole-vehicle-type approval, which is expected to be imminent, the person said. Therese de Vroomen, a spokeswoman for RDW, said the vehicle authority does not provide information about its type approval process.

Concerns about the shrinking US tax credit and Tesla’s decision to cut prices by USD 2,000 to partially offset the lower incentive sent the automaker’s shares plunging 9.7 percent during the first two trading days of the year. The company also reported fourth-quarter deliveries Wednesday that fell just short of analysts’ estimates.

Source : Automotive News
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CO2 emission standards for passenger cars and light commercial vehicles in the European Union

On December 17, 2018, representatives of the European Commission, the European Parliament, and the European Council agreed on a compromise for the European Union regulation setting binding carbon dioxide emission targets for new passenger cars and light-commercial vehicles for 2025 and 2030.

The agreed-upon targets aim to reduce the average CO2 emissions from new cars by 15% in 2025 and by 37.5% in 2030, both relative to a 2021 baseline. For light-commercial vehicles, a 15% target for 2025 and a 31% target for 2030 were agreed upon.

This policy update concisely surveys the policy background, summarizes the key elements of the regulation and the expected effects, and puts the new rule in international context.

Source : Strategic Research Institute
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BMW in 2018 posts 13pct sales growth

BMW reported a 13 per cent increase in car sales to 11,105 units in 2018, compared with 9,800 units in the previous year. The BMW brand sold 10,405 units in 2018 as against 9,379 units in 2017, a growth of 11 per cent, while Mini posted a growth of 66 per cent to 700 units as compared with 421 units in the previous year.

BMW Group India said in a statement that the group's motorcycle division BMW Motorrad India sold 2,187 units last year. The company said models such as BMW 5 Series and BMW 6 Series Gran Turismo contributed strongly to the sales growth during 2018.

It added that "BMW also saw significant contribution of up to 50 per cent coming from the locally-produced sports activity vehicle (SAV) range with strong contribution from the new BMW X3.”

Currently, the company produces X1, X3 and X5 models at its Chennai plant.

Source : Strategic Research Institute
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UK new car sales record biggest fall since financial crisis

Reuters reported that British new car sales in 2018 fell at their fastest rate since the global financial crisis a decade ago, hit by a slump in demand for diesel, stricter emissions rules and waning consumer confidence due to Brexit, according to an industry body. Demand dropped by nearly 7 percent last year to 2.37 million vehicles, the largest fall since registrations nosedived 11.3 percent in 2008, preliminary data from the Society of Motor Manufacturers and Traders showed.

A nearly 30 percent drop in demand for diesel was the most significant factor in the decline. Diesel has been pummelled since the Volkswagen emissions cheating scandal of 2015, prompting a crackdown and higher levies.

But the industry also warned that Britain's departure from the European Union due at the end of March risks the future of a sector which employs over 850,000 people and has been one of Britain's few manufacturing success stories since the 1980s.

SMMT Chief Executive Mike Hawes said that "It's still hard to see any upside to Brexit. Everyone recognises that Brexit is an existential threat to the UK automotive industry and we hope a practical solution will prevail," he said, calling for lawmakers to back Prime Minister Theresa May's deal to guarantee a transition period.

Investment looks very likely to have fallen in 2018 and sales this year are forecast to drop again as the SMMT warned a no-deal Brexit would hit jobs.

Mr Hawes said that "You're not going to see immediate closure of plants but what you could see is a reduction in production volumes and certainly, these are often international companies who have alternatives.”

After record highs in 2015 and 2016, demand fell in 2017 and some analysts see car demand as a leading indicator which could be a harbinger for future economic performance.

Britain's economy slowed to a crawl at the end of 2018, the housing market is stalling and lending to consumers growing at its slowest pace in nearly four years, according to data released on Friday.

Source : Reuters
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Aston Martin triggers Brexit contingencies to prepare for no deal

Automotive News reported that Aston Martin has hired a supply chain chief and approved Brexit plans to avoid delays by using ports other than Dover and flying in components as the automaker prepares for a possible no deal in March, CEO Andy Palmer told Reuters. Aston has hired John Griffiths, who has worked for Nissan and aerospace firm Rolls-Royce, as interim vice president for supply chain, in a role Palmer said "there was a nagging need (for) which has been confirmed with Brexit."

Mr Palmer also said the automaker, which was in October considering plans to fly components and move more in through other ports, had no choice but to authorize such contingencies at a board meeting in December. He told Reuters that "I don't think we've been in a position in the last two years where we've been further apart from understanding where we're going to end up.”

"We program a car to align and order all the parts for those cars twelve weeks in advance. You don't need to do the maths to know that therefore takes us across the Brexit period."

Aston is signing deals with its first-tier supplier, DHL, to allow for the use of ports other than Dover and has triggered the authority for its supply chain team to make bookings for air freight.

But the government has already said it will prioritize the movement of key supplies such as medicines in a scenario where the free-flow of goods is hit after Brexit, so it is unclear what would happen to other items.

Source : Automotive News
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Autoproducenten Ford en Jaguar Land Rover schrappen allebei duizenden banen in Europa

De Amerikaanse autofabrikant Ford gaat duizenden banen schrappen in Europa. De autoproducent wil zich terugtrekken uit onrendabele markten en stopt met de productie van modellen die niet winstgevend zijn. Het Britse Jaguar Land Rover komt met soortgelijke plannen voor het Verenigd Koninkrijk.

Dat een fabriek van Ford bij de Franse stad Bordeaux gaat sluiten was in december al bekend geworden. Gezien de pamfletten bij de toegangspoorten van de fabriek zullen werknemers en vakbonden zich niet bij de sluiting neerleggen.Foto: Reuters/Regis Duvignau

Ford trekt waarschijnlijk de stekker uit een Russische joint venture en stopt de productie van automatische versnellingsbakken in het Franse Bordeaux, terwijl in de Duitse deelstaat Saarland de productie van de gezinsauto C-Max wordt beëindigd. In het Verenigd Koninkrijk worden kantoren samengevoegd. Ook gaat Ford nog sterker de focus leggen op de productie en ontwikkeling van elektrische en zelfrijdende auto's. Een deel van de miljardenbesparingen wordt voor dit doel uitgetrokken.

Ford is in Europa evenals in Azië verliesgevend, deels door de waardedaling van het Britse pond als gevolg van de wereldwijde zorgen over de brexit. 'We zijn vastbesloten actie te ondernemen om de activiteiten van Ford in Europa te veranderen. Dat zal een grote impact hebben', aldus Steven Armstrong, hoofd van Ford Europa in een persverklaring.

Vrijwillige vertrekregeling
Details over de herijking kon Armstrong nog niet geven, wel dat het om 'duizenden banen' zal gaan. Ford zal naar eigen zeggen in Europa zwaar inzetten op vrijwillige vertrekregelingen om het aantal gedwongen ontslagen zoveel mogelijk te beperken. Met de vakbonden zullen daarover onderhandelingen worden gevoerd.

Met de donderdag bekendgemaakte maatregelen, die komende maanden worden uitgewerkt, wil Ford zijn winstgevendheid opkrikken en efficiënter gaan produceren. Eerder waren al kostenbesparende maatregelen voor de Amerikaanse markt aangekondigd.

Bij Ford in Europa werken circa 53.000 medewerkers, vooral in Spanje, Duitsland en het Verenigd Koninkrijk. Daarnaast heeft het concern fabrieken in Frankrijk, Turkije, Rusland, Roemenië en België.

Jaguar Land Rover heeft circa 44.000 werknemers in het Verenigd Koninkrijk. het concern overweegt er duizenden banen te schrappenFoto: PA Wire/PA Images
Reorganisatie Jaguar Land Rover

Evenals Ford gaat ook de Britse autofabrikant Jaguar Land Rover duizenden banen schrappen; een gevolg van tegenvallende verkopen. De reorganisatie, die een besparing oplevert van omgerekend €2,77 mrd komt bovenop de 1500 banen die het afgelopen jaar al schrapte.

Van de in totaal 40.000 banen bij de producent van luxewagens verdwijnen er 4500, waarvan het overgrote deel in het Verenigd Koninkrijk. Jaguar Land Rover, dat eigendom is van het Indiase Tata Motors, heeft vooral last van scherp gedaalde verkopen in China. De fabrikant wijt dat vooral aan de brexit en onzekerheid bij consumenten als gevolg van de handelsoorlog tussen China en de Verenigde Staten. Ook zijn de verkopen van diesels in Europa sterk gedaald.

Minder auto's verkocht in China
De Chinese autoriteiten meldden donderdag dat in 2018 voor het eerst in twintig jaar tijd minder nieuwe auto's zijn verkocht dan het jaar ervoor. De handelsoorlog maar ook de afzwakkende economische groei in China, de vastgoedcrisis en de toenemende schulden van huishoudens en overheden worden daarvan als belangrijkste redenen genoemd.

De Britse luxe-autoproducent Rolls-Royce sprak de afgelopen dagen opnieuw zijn bezorgdheid uit over een ongecontroleerde brexit. Bij een chaotische terugtrekking van de Britten uit de EU kan de productie tot stilstand komen als door vertraging aan de grens onderdelen niet tijdig geleverd worden. Honda maakte bekend de eerste zes dagen na de brexit, begin april, de productie zes dagen op de schorten.

Sjoemeldieselschandaal
Fiat Chrysler gaat volgens Amerikaanse persbureaus circa $700 mln betalen om Amerikaanse vervolging af te kopen in het zogeheten sjoemeldieselschandaal.

Amerikaanse autoriteiten beschuldigen de autofabrikant ervan dat in dieselauto's systemen waren ingebouwd, waardoor de auto's in tests aan de uitstootnormen voor schadelijke stoffen voldeden. Bij normaal gebruik werden die normen echter overschreden. Volgens persbureau AP erkent Fiat Chrysler echter geen schuld in de schikking.

Er loopt nog een strafonderzoek naar de verdenking dat Fiat Chrysler willens en wetens sjoemeldiesels heeft verkocht. Ook bij dat onderzoek zouden justitie en de autofabrikant op een schikking afstevenen, aldus Bloomberg.

Voor Volkswagen valt de sjoemeldieselaffaire veel duurder uit dan voor Fiat-Chrysler. De Duitse autofabrikant betaalde een boete van circa $4,3 mrd en trekt onder meer $15 mrd uit voor het repareren of terugkopen van Amerikaanse sjoemeldiesels.

fd.nl/ondernemen/1285290/amerikaanse-...
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BMW voorziet groei ondanks moeilijke markt

Gepubliceerd op 11 jan 2019 om 10:16 | Views: 1.138

MÜNCHEN (AFN/RTR) - De Duitse automaker BMW verwacht dit jaar iets meer auto's te verkopen in vergelijking met afgelopen jaar, ondanks uitdagende marktomstandigheden. Dat meldde de maker van luxewagens bij de publicatie van zijn verkoopcijfers over 2018.

BMW verkocht afgelopen jaar bijna 2,5 miljoen voertuigen, 1,1 procent meer dan een jaar eerder. Deze cijfers waren eerder al door topman Harald Krüger wereldkundig gemaakt. Van het eigen merk BMW werden de voorbije twaalf maanden ruim 2,1 miljoen auto's verkocht, 1,8 procent meer dan een jaar eerder. Daarmee was bij het merk sprake van de traagste groei in een decennium.

De laatste maand van 2018 haperde de verkoopmotor van BMW. Bij het merk zelf was nog wel sprake van groei op jaarbasis van 1,3 procent. Bij het merk Mini was sprake van een stevige verkoopdaling met ruim 11 procent.
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A long term vision for European automotive industry

Automotive News reported that European automotive sector has ascended to the top of the global industry. It has achieved record sales, and as a major employer and a source of significant grant making it is an integral part of European society. Fundamental changes in the industry, however, are threatening Europe’s lead position.1 If the European automotive sector is to stay ahead in this changing competitive landscape, leaders will need to make some tough decisions. Above all, a shared vision regarding the sector’s positioning is needed.

To inform the discussion, we undertook a study examining the future of Europe’s automotive industry. The research drew on proprietary knowledge and analysis from the McKinsey Center for Future Mobility, interviews with automakers’ executives and members of the European Automobile Manufacturers’ Association, and conversations with stakeholders in key automotive associations. Our findings are presented in our new report, RACE 2050—a vision for the European automotive industry, which imagines the industry as a Responsible Automotive Customer-centric Ecosystem.

The report itself is structured in three parts. The first looks at unprecedented changes in the European automotive industry, the second at a long-term vision for the sector, and the third at five clusters of initiatives that could help deliver on the vision. The remainder of this article focuses on the future vision and what it will take to ride the wave of technological megatrends redefining mobility.

Source : Strategic Research Institute
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Jaguar Land Rover to cut 4,500 jobs in UK

Auto News reported that Jaguar Land Rover will cut around 4,500 jobs, mainly in its home UK market, as it tries to tackle a slowdown in China and a slump in demand for its diesel-powered vehicles. The automaker also said it will begin producing electric drive units at its Wolverhampton engine plant in England and will create a new battery assembly center at Hams Hall near Birmingham as it develops a greener range of cars.

Mr Ralf Speth CEO in a statement said that "We are taking decisive action to help deliver long-term growth in the face of multiple geopolitical and regulatory disruptions as well as technology challenges facing the automotive industry.”

The job cuts represented about 10 percent the company’s workforce. They will affect mostly workers in the UK, including contractors, senior management, supervisors, engineering, and design workers, according to people familiar with the matter who asked not to be named discussing details that weren’t announced. Production-line workers won’t be affected, they said.

JLR lost 354 million pounds (USD 452 million) between April and September. It had been on course to build around 1 million vehicles by the turn of the decade. The company reported on Thursday a 4.6 percent drop in full-year 2018 sales to just under 600,000 vehicles.

The company, owned by India’s Tata Group, announced last year a turnaround plan that calls for savings of 2.5 billion pounds in 18 months. Of that total, 1 billion pounds will come from cutting 500 million pounds each from its investment plans for the 2019 and 2020 financial years, the company has said.

JLR's finance chief, Ken Gregor, told analysts on a financial results call in November said that “China has driven the sharp deterioration in profits. It’s the single biggest challenge.” Mr Gregor said that the firm's Changshu plant in China "has basically been closed for most of October in order to allow the inventory of both our vehicles and dealer inventory to start to reduce."

Diesel accounts for 90 percent of the automaker’s British sales and 45 percent of global demand, the company said last year. Diesel demand has plunged following new levies in the wake of the Volkswagen Group emissions-cheating scandal.

Source : Auto News
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Ford eyes plant closures as it wields ax in Europe

Auto News reported that Ford will shed thousands of jobs at its European operations in a bid to return the business to profitability in a broad restructuring that may include shutting down production plants. Ford has struggled with an aging model lineup and a contracting market in the UK, Ford’s biggest in Europe, which is in store for further disruption from Brexit. Ford said it will seek to exit the multivan segment, review its operations in Russia, and combine the headquarters of Ford UK and Ford Credit to a site in Dunton, Essex.

Mr Steve Armstrong, Ford’s head of Europe said that "We are looking to make a step-change in the performance of the business. There will be significant impact across the region. We will be looking at all options, which could include plant closures. A review of the manufacturing footprint is part of this process.”

Any layoffs and plant closures at Ford would be subject to the outcome of formal negotiations with labor representatives, Mr Armstrong said, adding that he hoped that job cuts could be achieved by "voluntary means." He declined to quantify the scale of job cuts, pending negotiations with labor leaders, but said staff reductions would run into the "thousands."

Mr Armstrong said that the cost-cutting plan has not been adjusted to account for the possibility of a 'hard' exit by Britain from the European Union without securing tariff-free cross-border trade. Mr Armstrong said that "If Brexit went in the wrong direction we would have to have another look, to mitigate that.”

A Ford spokesman said the carmaker currently assumes that any Brexit deal would keep tariff-free trade between Britain and Europe.

Source : Auto News
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Ford to strengthen European competitive position and profitability

Ford is starting consultations with its union partners and other key stakeholders to implement a comprehensive transformation strategy aimed at strengthening the Ford brand and creating a sustainably profitable business in Europe. The strategy which is part of the company’s broader global vision of providing smart vehicles for a smart world will offer differentiated vehicles designed to create a deeper connection with Ford customers.

Near term, Ford is accelerating key fitness actions and reducing structural costs. In parallel, the fundamental redesign will include changes to Ford’s vehicle portfolio, expanding offerings and volumes in its most profitable growth vehicle segments, while improving or exiting less profitable vehicle lines and addressing underperforming markets.

Mr Steven Armstrong, group vice president and president, Europe, Middle East and Africa said that “We are taking decisive action to transform the Ford business in Europe. We will invest in the vehicles, services, segments and markets that best support a long-term sustainably profitable business, creating value for all our stakeholders and delivering emotive vehicles to our customers.”

Ford is entering into formal consultation with its Works Council and trade union partners, and is committed to working together with all key stakeholders to enable the new strategy.

To improve near-term financial performance, Ford will drive improvement in profitability across its product portfolio. This improvement will be driven by reducing the complexity of existing Ford products, optimizing the most profitable vehicle configurations, and increasing volumes of profitable vehicle lines.

Structural cost improvements will be supported by reduction of surplus labor across all functions salaried and hourly. An improvement in management structure, announced in December, already is underway through Ford’s redesign of its global salaried workforce, that will improve the agility of the organization.

Ford aims to achieve the labor cost reductions, as far as possible, through voluntary employee separations in Europe and will be working closely with social partners and other stakeholders to achieve this objective.

Source : Strategic Research Institute
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BMW Group delivers over 140,000 electrified vehicles in 2018

The BMW Group sold more than 140,000 electrified (battery-electric and plug-in hybrid) vehicles in 2018, thereby confirming its leading role in the field of electromobility. In total, 142,617 (+38.4%) electrified BMW and MINI vehicles were delivered to customers around the world last year. Harald Krüger, Chairman of the Board of Management of BMW AG, said “Since launching the BMW i3 in 2013, the BMW Group has rapidly grown its sales of electrified vehicles. With over 140,000 delivered in 2018, we have once again achieved our ambitious target. This great sales result and our impressive market share proves our vehicles are what the customer wants. In countries which offer appropriate infrastructure and regulatory support, we see how quickly electromobility can become the norm. I’m confident that by the end of this year, there will be a total of half a million electrified BMW Group vehicles on the roads, with much more to come as we continue to extend our model line-up over the next few years.”

Europe is the Group’s biggest sales region for battery and plug-in hybrid vehicles, accounting for over 50% of sales in 2018. With 75,000 electrified vehicles delivered to customers in Europe last year, the BMW Group is the clear market leader in the region, with over 16% market share. In the company’s home market, Germany, the BMW Group accounts for one in five electrified vehicles sold last year. Globally, the BMW Group’s market share is over 9%. The company’s biggest single market for electrified vehicles is the USA, where over 25,000 electrified BMW and MINI vehicles were sold in 2018, accounting for more than 7% of the BMW Group’s overall sales in that country. The BMW 530e (combined fuel consumption: 2.3-2.1 l/100 km; combined power consumption: 52 – 47 g/100km; combined CO2 emissions: 13.9 – 13.3 g/km*) was the year’s biggest-selling luxury plug-in hybrid in the USA.

The growing significance of electromobility for the BMW Group’s ongoing success as the world’s number one premium automotive company can already be seen today. Electrified vehicles accounted for 6% of total BMW and MINI sales in 2018, compared with 4% in 2017. Electromobility is an essential pillar of the BMW Group’s corporate strategy Number ONE>NEXT and one of the company’s four key future-focused ACES topics (Autonomous, Connected, Electrified and Services/Shared).

Source : Strategic Research Institute
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Volkswagen en Ford willen krachten bundelen in zelfrijdend en elektrisch

(ABM FN-Dow Jones) Volkswagen en Ford gaan samen middelgrote pick-up trucks en bestelwagens ontwikkelen en willen ook samenwerken op het gebied van elektrische en zelfrijdende auto's, in het kader van een brede mondiale samenwerking. Dat maakten de Duitse en Amerikaanse autofabrikant dinsdag bekend.

In de samenwerking zal Ford de pick-up trucks voor beide bedrijven ontwerpen en produceren. Dat geeft Volkswagen meer toegang tot een lucratief marktsegment waar de Duitse fabrikant tot nu toe moeilijk een voet aan de grond kreeg.

Ford zal ook grotere bestelwagens of 'vans' gaan maken voor Europese klanten. Volkswagen gaat op zijn beurt een 'stadsbusje' ontwikkelen voor beide bedrijven.

De voertuigen zouden in 2022 op de markt moeten komen. De samenwerking moet vanaf 2023 de operationele winst voor belastingen van zowel Ford als Volkswagen aanjagen.

Naast de eerste formele afspraken over bestelwagens een pick-up trucks werd er ook een principe-overeenkomst gesloten over mogelijke samenwerkingen op het gebied van zelfrijdende auto's en elektrische voertuigen. De grote investeringen die daarvoor nodig zijn kunnen daarbij worden verdeeld tussen de twee concerns.

De samenwerking leidt niet tot wederzijds eigenaarschap in de partner. Een commissie onder leiding van Volkswagen CEO Herbert Diess en Ford CEO Jim Hackett zal de gezamenlijke plannen aansturen.

Door: ABM Financial News.
info@abmfn.nl
Redactie: +31(0)20 26 28 999

© Copyright ABM Financial News B.V. All rights reserved.
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PSA verkoopt recordaantal auto's

(ABM FN-Dow Jones) De autogroep PSA heeft in 2018 een recordaantal auto's verkocht, waardoor de omzet flink steeg. Dit bleek dinsdag uit de omzetcijfers van de fabrikant van onder meer Peugeot en Citroën.

PSA verkocht in het afgelopen jaar een recordaantal van bijna 3,9 miljoen auto's. Dit zorgde voor een stijging van de wereldwijde omzet van 6,8 procent.

In China daalde de omzet evenwel flink met ruim 34 procent, terwijl de omzet in Zuid-Oost Azië juist verdubbelde ten opzichte van 2017.

De autogroep wist verder het marktaandeel in Europa te verbeteren met 3,8 procentpunt, tot iets meer dan 17 procent. Het bedrijf sprak ook van een beter prijsklimaat.

Door: ABM Financial News.
info@abmfn.nl
Redactie: +31(0)20 26 28 999

© Copyright ABM Financial News B.V. All rights reserved.
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General Motors strengthens core business and future mobility

General Motors Co provided investors with an update on its comprehensive strategic plan as it continues to build the foundation for the company’s long-term success. GM also said it expects earnings growth in 2019, compared to projected 2018 full-year results.

Full-year 2019 guidance:
Earnings per share diluted-adjusted of between USD 6.50 and USD 7.00.
Adjusted automotive free cash flow of between USD 4.5 billion and USD 6 billion.

2018 performance:
GM expects 2018 EPS-diluted-adjusted and adjusted automotive free cash flow to exceed the guidance provided when reporting its third quarter 2018 earnings on Oct. 31, 2018.

Source : Strategic Research Institute
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GM sees higher 2019 profits on job cuts, solid US, China sales

Money Control reported that General Motors projected strong 2019 profits, fueled by savings from a deep restructuring including job cuts, and by solid sales in the United States and China. GM, which has faced criticism from President Donald Trump and other US politicians over the planned layoffs, expects USD 2 to USD 2.5 billion in additional profits this year due to the restructuring, pushing its earnings-per-share forecast well above analyst expectations.

The biggest US automaker forecast 2019 profits of USD 6.50 to USD 7.00 a share, compared to the USD 5.88 now expected by Wall Street analysts. GM also said it sees 2018 earnings per share as exceeding analyst expectations.

GM has defended the job cuts as needed to position the company long-term, in part by providing funds to build autonomous cars and other new offerings.

Chief Financial Officer Dhivya Suryadevara said in a statement that "We are focused on strengthening our cash generation and creating efficiencies that will position us to take advantage of opportunities through the cycle.”

Source : Money Control
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Mexico auto industry warns suspensions if gasoline crisis worsens - Report

Reuters reported that some Mexican auto plants may end up suspending operations if the government does not quickly resolve widespread gasoline shortages stemming from President Andres Manuel Lopez Obrador's efforts to end fuel theft. Mr Eduardo Solis, the president of the Mexican Auto Industry Association, called for urgent attention from the government to avoid a bigger crisis. He said that "We need logistics to flow and that's why, when there are blockages, our operations are put at risk. We are worried because it could lead to the suspension of a plant.”

Mr Guillermo Rosales, deputy director general of the Mexican Association of Automobile Distributors, said he had been informed of delays in new car deliveries in Michoacan state. He said that "There is a real impact on the economy and the daily life of those of us who work in the affected areas.”

Long lines of cars have formed at gas stations in Mexico's capital and several states since last week as the government crackdown on fuel theft leads to slower fuel distribution. Some workers were having difficulty commuting to their jobs and there was a risk some auto parts would not be delivered on time, Solis said.

Source : Reuters
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