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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Rolls-Royce has given its new Ghost sedan a minimalist design that taps into its customers’ new-found desire for a less flashy “post-opulent” look, the company said. The second-generation Ghost replaces a model that since its debut in 2009 has become the best-selling model in the ultraluxury brand’s 116-year history. The new Ghost, which will sit
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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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FRANKFURT — Former Daimler CEO Dieter Zetsche is the best candidate to be the company’s next chairman despite opposition from some shareholders, the automaker’s current chairman, Manfred Bischoff, said. Zetsche was succeeded as CEO in May 2019 by the automaker’s research and development boss, Ola Kallenius. When the succession plans were announced, Zetsche was nominated
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Sales at PSA Group’s sole China joint venture, Dongfeng Peugeot Citroen, remain stuck in a downward spiral despite a recovery underway in the broader market.  The joint venture delivered just 5,380 Peugeot and Citroen vehicles in June, a decline of 47 percent year over year, according to Dongfeng, a state-owned Chinese automaker listed in Hong
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FRANKFURT — Prosecutors searched Fiat Chrysler Automobiles sites in Germany and Italy as part of an international fraud investigation into potentially illegal emissions cheating defeat devices. Potentially illegal software has been detected in Multijet engines used in Alfa Romeo, Jeep and Fiat cars as well as in commercial diesel engines used in Iveco and Fiat commercial
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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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BERLIN – Volkswagen is replacing its head of software development, a German business daily newspaper reported on Sunday, as the automaker wrestles with the transition to electric vehicles. Handelsblatt said Christian Senger, a former BMW manager who currently runs the recently founded Car.Software unit, would be replaced after clashes with the company and concern about
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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 — Volkswagen Group’s series of executive shakeups is reaching its heavy-truck division Traton, with the surprise departure of the unit’s chief raising questions about its future strategy. Andreas Renschler will leave VW’s management board effective July 15 and be replaced by Matthias Gruendler, the former chief financial officer of the Munich-based truck unit, according
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