Automakers PSA (Peugeot and Citröen) and Fiat Chrysler Automobiles are most at risk if Greece’s economy fails and the country backs out of the Euro, according to a report by Automotive News.
Analysts say the two automakers have the largest share of southern European markets — including Italy, Spain and Portugal — where the economic impact of a Greek failure could hit the hardest.
Although the automakers have a large share of those markets, its a relatively small portion of their overall sales, the report states.
(photo courtesy: www.whattoseeinibiza.com)
I am going to Spain for 2-3 years for work but I have decided to sell my truck and only ship my motorcycle. Once I am there I will be looking to buy a cheap used small car, preferably a hatchback with a manual transmission. I am aware of some European brands like Seat, Alfa, Peugeot, Renault, etc. but do not know much about their modern line up. Gas or diesel is fine, can you help me with some recommendations?
Ahead of its world debut at the Mobile World Congress in Barcelona, Spain prior to making the rounds at the Geneva and New York auto shows next month, Ford has unveiled its redesigned 2015 Focus.
The European automobile market may be pulling out of its six year sales slump, according to Automotive News, with new car registrations in Germany up 7% in January from last year, joined by France, Italy and Spain reporting year to year increases for the month. German new car sales for the month were 206,000, the third monthly gain out of the past four months and the best monthly percentage improvement since September 2011. Analysts caution, though, that the growth in the German market was in part due to discounting.
However, industry executives and analysts warned that underlying demand may not be robust as Germany’s growth was in part attributable to generous price discounts. Ernst-Robert Nouvertne, who operates two Volkswagen stores near Cologne, said “Incentives are the name of the game. Headline sales are looking good but profit per car is crumbling. The (German) market is still pretty strained.” (Read More…)
The all-electric future creeps upon us all steadily, from Tesla’s luxury offerings more appropriate for New York Fashion Week, to Nissan’s electric blue and white jelly beans moving eco-conscious families to Whole Foods and Trader Joe’s.
Speaking of Nissan, the automaker has decided to unleash the e-Nv200 upon the streets of Europe in 2014, with both fleet and private sales in mind.
Amid labor unrest in Korea, and a desire to utilize capacity in Europe, GM is moving production of the Opel Mokka (aka, the Buick Encore, and Canada’s Chevrolet Trax) out of Korea and into a facility in Zaragoza, Spain.
European SEAT sales showed new signs of life lately, but the vital stats of Volkswagen’s Mediterranean brand still are weak enough for doctors to recommend a lot of rest. SEAT recommends to have workers stay at home an extra day of each week, Reuters writes.
According to the wire, SEAT “wants to halt production for 16 days on one of its lines, between September and December, affecting 2,800 workers, and stop production for 35 days next year on another line, affecting 3,800 workers.” (Read More…)
In America, government bailouts of ailing car companies are (at least in some circles) viewed as an inalienable right. In the EU, government aid generally is forbidden by law. Ironically, Ford, the only un-bailed-out Detroit company, now is in collision with these quaint continental regulations. (Read More…)
Some of TTAC’s readers have made it absolutely clear that they cannot abide it when I pick on Red Bull’s Mark Webber. So let’s say something nice about the man: he made up for
his usual an unexpectedly poor start to finish in fifth place, just behind his teammate, Sebastian Vettel. If you’re a Mark Webber fan, now would be a good time to feel good about the whole thing and look forward to the next race.
Everybody else should click the jump.