Europe

Traton Shares Stall on Opening Day of Trading

June 28, 2019 at 1:35 PM

Shares in Volkswagen Group’s Traton commercial truck unit debuted on the Frankfurt exchange at their placement price of €27 ($30.71) today, closing at €26.49.

BMW: Diesels Will Survive at Least 20 Years

June 28, 2019 at 11:31 AM

BMW AG predicts that diesels will continue to be sold in the global auto market for at least 20 more years, and gasoline engines will survive at least 30 years.

ACEA Cuts European Sales Outlook to 1% Decline

June 28, 2019 at 11:14 AM

ACEA, Europe’s automotive trade group, says it now expects that sales of passenger vehicles within the European Union will dip 1% to about 15 million units in 2019.

Macron: No Need for France to Reduce Renault Stake

June 28, 2019 at 1:22 AM

French President Emmanuel Macron has raised new concerns about the future of the Renault-Nissan alliance by declaring there is no need for France to reduce its 15% stake in Renault.

Brembo Plans “Significant” Acquisition

June 28, 2019 at 12:12 AM

Brembo SpA’s outgoing CEO Matteo Tiraboschi says the Italian brake system supplier is shopping for a large acquisition that aligns with its existing business.

PSA Says Brexit Will Determine Future for U.K. Plant

June 27, 2019 at 3:29 PM

PSA Group says its decision about making the next-generation Opel/Vauxhall Astra in England will depend on favorable tariff terms when the U.K. exits the European Union.

Ford Will Cut 12,000 Jobs in Europe by 2020

June 27, 2019 at 11:27 AM

Ford Motor Co. says it will reduce its European workforce by 20%, eliminating 12,000 jobs in the region by the end of next year.

Wabco Shareholders Approve Sale to ZF

June 27, 2019 at 10:39 AM

More than two-thirds of Wabco Holdings Inc. shareholders voted to approve the company’s acquisition by ZF Friedrichshafen AG.

VW Launches EV Car-Sharing Service in Germany

June 27, 2019 at 10:21 AM

Volkswagen AG has launched its “WeShare” car-sharing program in Berlin with a fleet of 1,500 all-electric Golf small cars.   Some 500 e-up! electric city cars will be added later this year.

U.K. Car Output Falls 16%

June 27, 2019 at 2:47 AM

Car production in Britain plunged 16% to 116,000 units in May, the Society of Motor Manufacturers and Traders reports.

BMW: EV Margins Will Match Those of Piston Cars by 2025

June 27, 2019 at 2:10 AM

BMW AG tells the Financial Times that its profit margins on the sale of electric vehicles should equal those of the company’s current piston-powered models by 2025.

VW Sets Traton IPO Share Price at €27-€28

June 26, 2019 at 5:09 PM

Volkswagen AG’s Traton commercial truck unit will offer 10% of its equity in an initial public offering at a range of €27-€28 ($31-$32) per share.