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Archive | November, 2011


Opel-Vauxhall Needs Radical Action To Stem Losses – report

Opel-Vauxhall Needs Radical Action To Stem Losses – report German Union Contract Might Have To Be Reopened Losses Could Hit $600 million in 2011, $1 billion in 2012 GM’s attempt to fix its loss-making European subsidiary Opel-Vauxhall are failing, and drastic measures like reopening contract talks with labor unions are required if the drain on […]

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Volt Fire “Insignificant”; No More Likely Than Conventional Car

“There is no direct evidence that the Volt is catching fire under normal operating use” U.S. government investigators are investigating a fire in the lithium-ion battery of a Chevrolet Volt, but investment bank Morgan Stanley said there is nothing for investors to worry about. According to the Bloomberg news agency, U.S. auto-safety regulators are examining […]

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Peugeot-Citroen Ratings Cut As Profits Slip Away

Investors Await Cost-Cutting, But Plan Delayed By Election Peugeot-Citroen’s financial ratings were cut by Fitch because its profitability is being undermined by Europe’s crumbling economy. Fitch Ratings said Peugeot-Citroen’s profits were under pressure because weak corporate and consumer confidence, rising unemployment and persistent uncertainty from the government debt crisis were undermining car sales. Fitch cut […]

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Despite More Bad News, S&P Still Sees A Strong Industry

But Peugeot, Fiat Said To Be Under Pressure “we are observing better discipline on inventories and on prices. Moreover, balance sheets have strengthened following leverage reductions in automotive operations” Car markets across Europe are weakening, sales projections for next year are being slashed, and a small car price war has started threatening Peugeot and Fiat […]

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Financial Meltdown Talk Spooks European Car Buyers

Even Germany falters But VW, Hyundai-Kia, BMW Seem Immune From Trouble “this year’s loser’s league is made up of Peugeot-Citroen, Renault, Fiat and Toyota” With newspapers and television news constantly talking about economic meltdown, double dip recession and great depressions, it’s not surprising that Europeans are getting a bit hesitant about buying new cars. According […]

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