Europe

Germany Narrowly Avoids Recession

February 14, 2019 at 10:22 AM

The German economy, which shrank by 0.2% in the third quarter of 2018, posted zero growth in October-December, according to government data.

Renault’s Sales, Earnings Slide

February 14, 2019 at 9:23 AM

Renault SA reports that its revenue and net income in 2018 fell 2% to €57.4 billion ($64.8 billion) and 38% to €3.3 billion ($3.7 billion), respectively.

Nissan Plans Assembly Plant in Algeria

February 14, 2019 at 1:36 AM

Nissan Motor Co. is partnering with Algerian conglomerate and local Nissan distributor Groupe Hasnaoui to build cars and light commercial vehicles for the African market.

Ford Warns that a Hard Brexit Would Be “Catastrophic”

February 14, 2019 at 12:24 AM

Ford Motor Co. warns it will take whatever action is needed to defend its operations in Europe if the U.K. leaves the European Union in March with no replacement trade deals in place.

Renault Cuts €30 Million Severance Payment for Ghosn

February 13, 2019 at 4:17 PM

Renault SA’s board has voted unanimously against granting former Chairman and CEO Carlos Ghosn two years of severance pay worth about €30 million ($34 million).

Report: VW Balks at Investing in Ford’s Autonomy Unit

February 13, 2019 at 3:18 PM

Volkswagen AG is resisting pressure to invest at least $500 million in Ford Motor Co.’s autonomous-car unit, sources tell Reuters.

Daimler Names New Chief Financial Officer

February 13, 2019 at 2:54 PM

Daimler AG has appointed Harald Wilhelm to its management board as its chief financial officer, effective April 1.

Michelin Hikes Operating Slips 3%

February 12, 2019 at 5:35 PM

Michelin & Cie. reports its operating income declined 3% to €2.6 billion ($2.9 billion). Sales revenue was flat at €22 billion ($25 billion).

EU, Japan Back Automatic Emergency Braking Rule

February 12, 2019 at 3:59 PM

The European Union and Japan support a United Nations plan that would equip all new passenger and light commercial vehicles with automatic emergency braking systems, beginning in 2020.

British Founder of Haynes Repair Manuals Dies

February 12, 2019 at 3:18 PM

John Haynes, who founded Haynes Repair Manuals for do-it-yourself enthusiasts, died this month at the age of 80 following a short illness.

Maserati Readies Electrified Sports Car

February 12, 2019 at 2:24 PM

Fiat Chrysler Automobiles NV’s Maserati unit plans to launch pre-production of the long-awaited Alfieri sports car at its Modena, Italy, factory in the first half 2020.

Renault Names CEO Bollore to Chair Alliance Holding Company

February 12, 2019 at 1:41 PM

Renault SA has appointed new CEO Thierry Bollore as chairman of Renault-Nissan BV, the Dutch holding company that coordinates the carmaker’s 20-year-old alliance with Nissan Motor Co.