Despite previous calls for his ouster, Fiat’s CEO Sergio Marchionne was elected for another year as president of the influential European auto trade group ACEA, Reuters reports. In July, Volkswagen demanded Marchionne’s head after he had accused Volkswagen of exploiting the European crisis to gain market share by offering aggressive discounts. (Read More…)
It looks like Fiat and Chrysler CEO Sergio Marchionne does not want to be head of the European automakers association ACEA much longer. Today, he called for a massive EU rescue package for the ailing European car industry, with coordinated capacity cuts as the centerpiece. He also called for a stop of free trade agreements. “Let the European car industry make its adjustments… This is not the time to embrace free trade,” Marchionne said while Reuters was taking notes.
Fiat & Chrysler CEO Sergio Marchionne’s pointed remarks have attracted the ire of Europe’s 500 pound gorilla Volkswagen. VW demanded that Marchionne steps down as president of the European auto manufacturers association ACEA. If he won’t resign, Volkswagen could resign its ACEA membership – which would send the club into instant irrelevancy, not to mention insolvency. (Read More…)
European car sales are getting it on the chin. Sale in the EU were down the sixth consecutive month, with a decline of 7.0 percent compared to March last year, ACEA says. March is prime selling season in Europe, and customers refuse to buy. March registrations have not been at this level since 1998. January to March, car sales in Europe are down 7.7 percent. (Read More…)
The heads of the European automobile industry are assembling in London for their annual European Automobile Manufacturers’ Association meeting. While they were there, they dropped in with UK’s Prime Minister David Cameron to talk a little politics. Norbert Reithofer of BMW, Sergio Marchionne of Fiat, Carlos Ghosn of Renault, Nick Reilly of GM Europe and their leader Dieter Zetsche, president of the association and chief of Daimler, asked for assistance with fair free trade with major economies such as India and Japan, government support for the swift introduction of breakthrough technologies and less bureaucracy through lean regulations. All noble goals. But the BBC found a fly in the ointment: (Read More…)
While Toyota is trying to convince the American public that they’re as American as losing at hockey Wal-Mart, Hyundai is pulling the same stunt over at the other side of the pond. Forbes reports that Hyundai wants to become a card carrying member of the European Automobile Manufacturers’ Association (ACEA). (Read More…)
Europe’s ACEA, the Association des Constructeurs Européens d’Automobiles, better known as the European Automobile Manufacturers Association, has finally gotten around to tallying new car sales in Europe for the month of January. Europe as defined by the ACEA consists of the EU states, plus the three EFTA holdouts, Iceland, Norway and Switzerland.
First, the good news: January new passenger car registrations in Europe increased by 12.9 percent. With the exception of Germany (-4.3 percent,) the larger markets are all sputtering along nicely: France (+14.3 percent), Spain (+18.1 percent), the UK (+29.8 percent) and Italy (+30.2 percent). In total, 1,058,868 new cars were registered in Europe.
On the market share front, the Volkswagen Group maintains to be the king of the European hill with a 20.6 percent share. Next up are PSA (14 percent) and Renault (10.7 percent). The French are getting frisky: Renault added an impressive 3.1 percent to its January market share, PSA 0.6 percent. Now for the bad news: (Read More…)