Volkswagen’s Skoda subsidiary has refused to acknowledge that its sponsorship of the Tour de France was jeopardised by recent drug taking revelations, but now that Rabobank of Holland has dropped out, perhaps the Czech company will reconsider. Earlier today, Dutch bank Rabobank withdrew from supporting cycling. Rabobank spent €15 million a year on the sport. […]
New 301 Launched In Emerging Markets; Is It Too Late? As Peugeot launched its cut price 301 for third world markets, investors were speculating losses this year could be a half a billion euros worse than previously expected. The Peugeot 301 was launched in Turkey and will be rolled out progressively in Eastern Europe, Africa […]
Prudent topping up of cash, or prelude to buying Ferrari, Alfa? Volkswagen surprised investors with its €2.5 billion convertible bond sale, most of whom believed the money raising was needed to top up funds after the purchases of Porsche and Ducati, or complete the takeover of truck-maker MAN. More exotic theories were also available though. […]
New Product Plan Dumps Punto, Brava; Goes For Alfa, Maserati Jump In Debt To €6.5 Billion Worries Investors Fiat is likely to lose another €700 million in Europe in 2013, with black numbers unlikely to appear there for at least another two years, while investor worries accelerate. Fiat’s latest strategic plan eschews more production cuts […]
But Investors Start To Worry About 2013 As Europe Weakens Fingers Crossed That China, U.S. Can Make Up The Shortfall “BMW is managing to offset lack of European demand in other markets – for now. (falling off) A U.S. fiscal cliff would not be helpful” BMW improved its profits in the third quarter and robustly […]
Mercedes Irks Investors As Big Sales Plan Hits Profit Hopes Race For First Place Might Succeed, But Cost Seen As Unacceptable Unexpected Profit Warnings, Botched Financial Release Didn’t Help “The company remains in denial. Labour costs at Daimler stand at 16.4 per cent of sales versus 11.2 per cent at BMW” Mercedes might be fighting toe […]
While its competitors fought desperately for survival, Volkswagen sailed on majestically with profits down a bit and stuck with its goals for 2012 of higher sales and steady earnings. In the third quarter VW reported operating profit down about a fifth to €2.34 billion on the same period of 2011, while sales rose 27 per […]
“If Peugeot-Citroen gets state guarantees, that bodes badly for Renault’s flexibility” Just when everybody was falling in love with Renault as the only viable mass car manufacturer in Europe, along came a couple of reasons to sow some doubt. As the likes of Fiat, Opel-Vauxhall and Peugeot-Citroen were suffering a tsunami of red ink, Renault […]
Will Brussels Declare €7 billion Loan Illegal? “If Peugeot will not either reduce plants or increase sales, there is a chance it might not exist anymore” Financially-stricken Peugeot-Citroen’s effective bailout by the French government caused consternation among investors and its competitors, and this news overshadowed any positive fall-out from news that its deal with GM […]
“Ford’s E.U. restructuring efforts go deep, marking the most sweeping capacity reduction in the region in years” While unions called Ford Europe’s action to shut plants and curb losses a betrayal, investors lauded the company’s moves as bold and necessary, and hoped that more financially pressed auto makers would follow suit. Ford Europe announced it […]
