Porsche announced a stellar October, with sales up 24.1 percent to 11,688 units, and with a total of 116,050 units delivered for the year, an increase of 15.6 percent over last. Porsche even has a nice table, which we hope will set an example for all automakers. All this didn’t keep them from slamming the brakes. Porsche will cancel weekend shifts at its headquarter factory in Zuffenhausen from January, where it has been running eight extra shifts on Saturdays since September to clear orders for the revamped 911 model, Reuters says. Read More >
At the auto show in Los Angeles, next to Stuttgart basically home turf for Porsche, the company will have a small surprise for a big country: Porsche will unveil a “new compact sports car” at the show. Mum’s the word. Read More >
GM told Reuters that it won’t build the next-generation Chevrolet Cruze in South Korea. Reuters says this is “raising the possibility that GM might shift the assembly to Europe to help boost efficiency at its money-losing unit there.” Read More >
Germany’s new car market was up 0.5 percent in October. What looked like bucking the European downtrend was quickly discounted by market observers who noted that October had two more working days than October last year. Taking this into account, Germany is down with the rest of Europe. Meanwhile, sales in France dropped 7.8 percent, and those in Spain are down a gutwrenching 21.7 percent. Read More >
After a rash of interim-CEOs, Opel may have found a more permanent one. It’s the former Volkswagen manager Karl-Thomas Neumann. The successful recruitment was first published by Financial Times Deutschland, the report was quickly confirmed by wire services and major German newspapers. Read More >
We have documented how GM and Opel have a hard time separating themselves from the Bochum plant, something that is urgently necessary to address Opel’s dangerous overcapacity. The date to close the plant is being kicked more and more down the road and well past the use-by date of the current and some future Opel CEOs. Currently, it looks like Bochum and gaping wounds will stay open through 2017. Or maybe longer … Read More >
Yesterday, a car developed (mostly) for and (mostly) in China was presented at a gala event in Wolfsburg. Volkswagen celebrated the new Santana, and Volkswagen’s lucky entry into the Chinese market some 30 years ago. That’s also how long the old Santana lasted. It was time to replace it, and the time was yesterday. Read More >
Unions reached a last minute deal with Opel: Plant closures and layoffs are off the table through 2016. This according to information given by works council chief Walter Einenkel to the usually reliable Westdeutsche Allgemeine Zeitung. Read More >
Down to the wire, and nothing: German unions had set Opel a deadline until today to come to an agreement about the future of Opel. The unions had offered to forgo a 4.3 percent pay hike and waive future pay raises if Opel extends a moratorium on plant closures through 2016. Today’s deadline passed without an agreement, Reuters says. Read More >
Mercedes wants to double its passenger car sales within the next eight years. By 2020, Mercedes wants to raise its sales to more than 2.6 million units annually, from 1.3 million this year. This is what Daimler CEO wrote in a letter to all employees. Automobilwoche [sub] has a copy. Read More >
Europe’s second-largest automaker and GM alliance partner PSA Peugeot-Citroen is being saved from the brink for the time being. PSA is putting the final touches on an agreement with creditor banks on 11.5 billion euros ($14.9 billion) of refinancing, in addition to 7 billion euro ($9 billion) in government guarantees for its captive financing arm Banque PSA Finance, Reuters says.Read More >
Europe’s car crisis found 4,300 new victims: As expected, union representatives at Ford’s Genk plant in Belgium were told this morning that the plant will be closed. 4,300 workers will be out of a job. Read More >
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