Europe

PARIS — Government-backed trade-in bonuses in France will favor smaller cars, with emissions limits for internal combustion vehicles set at 137 grams per kilometer of carbon dioxide on the Worldwide harmonized Light vehicle Test Procedure (WLTP) scale. The program could boost sales in the minicar and small car segments, which have been losing ground to
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PARIS — There are early signs that substantial incentives and trade-in bonuses could help cushion the blow to European auto sales from the coronavirus crisis, officials, dealers and analysts say. Some industry experts, however, question the effectiveness of the government-backed subsidies. France, which has introduced some of the most incentives ever to encourage buyers to
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NEW DELHI — Mahindra & Mahindra plans to give up control of struggling South Korean unit SsangYong Motor, the Indian automaker’s managing director said on Friday, as it looks to exit money-losing ventures amid the coronavirus pandemic. “SsangYong needs a new investor. We are working with the company to see if we can secure investment,”
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DETROIT — Simon Sproule, FCA’s global chief communications officer since February, is leaving the company. Sproule, 51, told Automotive News Europe sister publication Automotive News his last day is Friday. He decided he wanted to do something different with his life and pursue other interests. “Simon Sproule has made the personal decision to leave FCA,”
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FRANKFURT — Volkswagen Group CEO Herbert Diess apologized to the company’s supervisory board for having made “inappropriate and wrong” statements at an internal event, VW said. The public acknowledgment that Diess had been forced to apologize to the board amounts to a severe admonishment of the chief executive, who was stripped of his leadership of
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FRANKFURT — Volkswagen Group named Ralf Brandstaetter as VW brand CEO, promoting him from his current role as the brand’s chief operating officer. The change means that VW Group CEO Herbert Diess gives up his role as VW brand CEO. The change will give Diess, 61, more time to focus on his tasks as group
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How do you put a car company on a diet? Renault and its 180,000 employees are about to find out. Under former CEO Carlos Ghosn, the mantra of Renault was growth, with a target of 5 million vehicles by 2022, a 33 percent increase from 2017’s 3.76 million. But a stagnant global automotive market, a
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BERLIN — Volkswagen is considering more cost cuts to help cope with the economic impact of the coronavirus pandemic, a spokesman for the automaker said on Saturday. The issue was recently discussed at an internal event, the spokesman said, when asked about a report in Automobilwoche, a sister publication of Automotive News Europe. “There were
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BERLIN — Germany’s Social Democrats expect difficult talks with their coalition partners, Chancellor Angela Merkel’s conservatives, on a stimulus package because they want incentives to buy a new car to exclude combustion engine vehicles. “It will take a long time and probably will not end today,” the SPD’s co-leader, Norbert Walter-Borjans, said on Tuesday. “There
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New-car sales in Spain fell 73 percent in May to 34,337 vehicles, as a government-imposed lockdown to combat the coronavirus pandemic was eased from May 11. The relaxation resulted in a smaller drop than in April, when registrations plunged 97 percent to 4,163 units. Sales to private customers dropped by 66 percent in May and
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The annual Geneva auto show was plunged into crisis in March when a late decision by Swiss authorities to prevent the spread of coronavirus forced the cancellation of the 90th event. The show’s organizers, the Geneva International Motor Show (GIMS) Foundation, initially refused to pay back stand fees to exhibitors, generating anger among automakers that
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The decision to withdraw Datsun from Russia reverses the ambitious global growth plans for the brand envisaged by Nissan’s former Chairman Carlos Ghosn. Reviving the Datsun name, previously used by Nissan for export markets until 1981, was a key strategy of Ghosn, who wanted to expand in emerging markets by using older alliance technology to
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Automakers criticized Europe’s 750 billion-euro ($827 billion) fiscal stimulus package for not outlining how the region’s auto industry will be helped to recover from the coronavirus pandemic, which has caused vehicles sales to collapse to historic lows. The plan, which is called “Next Generation EU,” aims to distribute grants to the EU’s 27 member states
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MILAN — Marelli said on Wednesday it had secured additional capital and loans worth 130 billion yen ($1.2 billion) from top shareholder U.S. investment firm KKR and Japanese banks. The COVID-19 epidemic has forced most manufacturers to temporarily halt production and almost erased car demand in March and April, leaving automakers and suppliers in need
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TOKYO – Renault and Nissan will try to jump start their struggling alliance this week through a three-day rollout of revised midterm business plans expected to involve plant closures, layoffs and billions of dollars in cost cutting that will usher in a new era of smaller, sustainable operations. The announcements begin Wednesday when the heads
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MILAN — Fiat Chrysler Automobiles is close to securing a 6.3 billion-euro ($6.9 billion) credit facility as Italy’s biggest retail bank, Intesa Sanpaolo, is expected to give conditional approval at a board meeting on Tuesday to a state-guaranteed loan, according to people familiar with the matter. The loan would be Europe’s biggest government-backed financing to
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A German startup run by a former Audi engineer has received backing for his planned makeover of the assembly-line approach to carmaking introduced by Henry Ford a century ago. The company, Arculus, wants automakers to abandon rigid production lines and adopt its more flexible platform in which self-driving robots move half-built cars to different sections. London-based
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LONDON — Automotive industry borrowers have raised $155 billion amid the coronavirus outbreak as the pandemic shutters showrooms and factories. Companies worldwide have been drawing down on existing credit lines and seeking new credit deals to weather the health crisis, which has hit demand for vehicles. The $155 billion gathered since mid-March, when global cities went
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TOKYO — Toyota, Honda and Mazda all intend to keep stoking their heavy spending on costly next-generation technologies, even as the COVID-19 pandemic inflicts financial pain on them. Toyota  saw net income tumble 86 percent in the January-March quarter, and Honda plunged to a net loss. But both said cash reserves are fine and that
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