Europe

MILAN — Ferrari has trimmed its sales forecasts for this year after reporting decreasing core earnings, although in line with expectations, in the second quarter due to the coronavirus pandemic. Ferrari said Monday that its adjusted earnings before interest, tax, depreciation and amortization (EBITDA) would come in between 1.075 billion euros and 1.125 billion euros
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FRANKFURT – Volkswagen Group is not done reshuffling its management, CEO Herbert Diess told a German newspaper in an interview. “We are 80 percent done with our personnel decisions. Some outstanding decisions have been prepared and we will implement them in a planned manner,” Diess said in the interview with Frankfurter Allgemeine Zeitung published on Friday.
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PARIS/TOKYO — When the French part of the Renault-Nissan alliance reports its results on Thursday, investors expect confirmation of a harsh reality: automakers that already had weaknesses are having them mercilessly exposed by the pandemic. All the world’s automakers have been in crisis at one time or another in the past few years, but it
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TURIN – Former Seat design director Alejandro Mesonero-Romanos is set to join Renault, a source close to the matter told Automotive News Europe. Mesonero-Romanos, 52, will join the French automaker “to strengthen the design team,” the source said, adding that he will report to Renault Group design boss Laurens van den Acker. Mesonero-Romanos will reunite
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BERLIN — Continental suffered a nearly 40 percent year-on-year decline in group sales during the second quarter, causing the German supplier to burn cash and forcing it to refrain from providing an outlook for the year. Consolidated group sales declined by 39.8 percent to 6.62 billion euros ($7.6 billion), the company said Monday as it
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FRANKFURT — Tired of waiting for global regulators to act, the German government is preparing landmark legislation that could commercialize driverless vehicle technology by next summer. If passed, it could be the first comprehensive legal framework covering both homologation and road traffic requirements for robotaxis in which the computer controls the vehicle at all times.
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DETROIT — A federal court magistrate Thursday granted a request by former Volkswagen executive Oliver Schmidt to carry out the remainder of his seven-year prison sentence for his role in the automaker’s massive diesel emissions fraud in his native Germany. Schmidt, 51, appeared via video conference before Magistrate Judge Elizabeth A. Stafford of the U.S.
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The merged unit of Fiat Chrysler Automobiles and PSA Group will be known as Stellantis, the two automakers said Wednesday. The automakers said the name “will be used exclusively at the group level, as a corporate brand” and that the names and the logos of the group’s constituent brands will remain unchanged. The companies said
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FRANKFURT — Volkswagen Group will shift leadership for software development to the company’s premium Audi division, Herbert Diess, chief executive of the multi-brand group, said on Tuesday. “The center of gravity for software development will move from Wolfsburg to Ingolstadt,” Diess said at a virtual conference hosted by PwC in Germany on Tuesday. Earlier this
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Electric car maker Fisker will go public through a merger with a blank check company backed by private equity firm Apollo Global Management at a valuation of $2.9 billion, the companies said on Monday. Reuters reported last week that the special purpose acquisition company, Spartan Energy Acquisition, was leading a bidding war among blank-check companies
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BEIRUT — Carlos Ghosn is helping everyone who stood by him, he said in an interview broadcast on Saturday, though he declined to comment on cases of people accused of helping him flee to Lebanon from Japan. Ghosn, the ex-chairman of the Renault-Nissan-Mitsubishi alliance was arrested in Japan in late 2018 on charges of underreporting
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Europe’s car market is performing better than expected as the region emerges from lockdowns imposed to prevent the spread of the coronavirus, Kia Europe Chief Operating Officer Emilio Herrera said. June was the first full month in which car buyers were able to return to showrooms across Europe and the results gave automakers hope for
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FRANKFURT — Audi will add the Q4 Sportback e-tron, a sportier-looking version of the upcoming Q4 e-tron compact electric SUV, to its expanding range of battery-powered cars. Both models will go on sale by next summer in the automaker’s global markets as entry-level full-electric cars. Audi unveiled pictures and details of the Q4 Sportback e-tron
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