Europe

McLaren Automotive has convertibles in its expanding lineup but doesn’t have a true, open-air roadster. That will change next year. During Monterey Car Week, the British exotic brand on Friday teased a photo of the unnamed two-seater, which will join McLaren’s Ultimate Series, following the P1, Senna and Speedtail. The automaker said the vehicle will
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FRANKFURT — BMW’s new CEO, Oliver Zipse, urged employees to embrace change and to find innovative ways to help the automaker overtake rival Mercedes-Benz at a time when demand for luxury cars is waning. Zipse addressed staff in an internal email a day after his predecessor Harald Krueger stepped down. BMW has lost ground to
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FRANKFURT — German carbon fiber maker SGL Group said its CEO, Juergen Koehler, will step down over flawed business planning after the company withdrew its forecasts for the next three years. In a statement on Wednesday, SGL — which supplies carbon fiber to automakers such as BMW and Volkswagen Group — said its outlook for
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As Porsche prepares to launch its first full-electric sports sedan, the Taycan, the automaker is introducing plug-in hybrid powertrains on its Cayenne Coupe SUV. The Cayenne Turbo S E-Hybrid Coupe will be equipped with a 4.0-liter twin-turbo V-8 gasoline engine combined with an electric motor that will together deliver 670 hp. The Cayenne E-Hybrid Coupe
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MUNICH — AMS re-entered the battle for Osram with a 3.7 billion euros ($4.1 billion) offer, days after a major shareholder rejected a lower bid by rivals for the German light and sensor maker. The offer from AMS, an Austria-based supplier of high performance sensor solutions, values Osram at 38.50 euros a share. That compares
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FRANKFURT — Continental said on Friday that it was taking action to reduce lead in some electronic components that exceeded certain European Union limits. The German partsmaker said it was identifying how many vehicles and which markets would be affected. Most of the components have been on the market since 2016. An EU directive dictates
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FRANKFURT — Prosecutors in Stuttgart are set to fine Mercedes-Benz parent Daimler between 800 million and 1 billion euros ($897,000 to $1.12 billion) for diesel-related violations, German magazine Der Spiegel said in its online edition on Friday. The German motor vehicle authority (KBA) had discovered cheating software fitted to Mercedes-Benz C-class and E-class vehicles and
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PSA Group’s relationship with Dongfeng looks set to change as the Chinese automaker examines options for its 12.2 percent stake in the French company, that could include a sale or bond issuance backed by the stock, people familiar with the matter told Bloomberg. On purely financial terms, such a move makes a great deal of
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HONG KONG/BEIJING/LONDON — Dongfeng Motor is exploring options for its 2.2 billion-euro ($2.5 billion) stake in PSA Group including a potential divestment, people with knowledge of the matter said, as the companies grapple with a global slowdown in the auto market. The Chinese state-owned automaker held talks in recent weeks with potential advisers about ways
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The entire global vehicle market is facing flat-to-falling sales for the foreseeable future, says Jeff Schuster, president of global forecasting at LMC Automotive. “Risk to auto sales globally is rising, and uncertainty remains high,” Schuster told Automotive News Europe sister publication Automotive News. The mature markets of Western Europe, the U.S., Japan and Korea will
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The shareholder value of Europe’s automakers increased by 6 percent in the second three months of this year, according to the latest Automotive News Europe/PricewaterhouseCoopers Transaction Services Shareholder Value Indices. The biggest gain, by far, was enjoyed by Ferrari, which improved nearly 22 percent. While this was the second quarter in a row in which
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DETROIT — Many global auto suppliers are striking an even more pessimistic tone about Chinese vehicle output this year than some research firms, with the suppliers bracing for the pain to be far greater than the single-digit percentage declines predicted by some in the industry. There have been 12 straight months of falling sales in
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LONDON — Ford warned on Thursday that the chances of a no-deal Brexit have risen in the last few months as new Prime Minister Boris Johnson ramps up preparations for a possible disorderly exit in October. The U.S. automaker operates two powertrain plants in Britain, one of which it is planning to close due to
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