Fiat Chrysler Automobiles (FCA) has challenged a claim by Italy’s tax officials over the valuing of its U.S. Chrysler business that could leave it with an unwanted tax bill just days prior to an expected key merger agreement with Peugeot owner PSA. On Wednesday, a source knowledgeable with the matter stated the Italian tax agency […]
European
Lawrence Stroll looks for a huge stake in Aston Martin
Lawrence Stroll, a Canadian billionaire who is an owner of Formula One team Racing Point, is planning for a bid for a major stake in Aston Martin, Autocar magazine reported, sending the luxury sports automaker’s battered shares a boost of 17% on Thursday. Aston Martin has observed its shares decline since its flotation in October […]
UAW members recommend approval of Fiat Chrysler labor deal
Union members of United Auto Workers from Fiat Chrysler Automobiles NV’s U.S. plants on Wednesday recommended authorization of a tentative labor agreement that would permit the Italian-American automaker to prevent a strike as it collaborates to merge with France’s Groupe PSA. Fiat Chrysler (FCA) and PSA, the innovator of Peugeot and Citroen, in October declared […]
BMW sues air conditioning suppliers due to price-fixing
BMW is taking legal action against two of its providers because of price-fixing on air conditioning components, the German automaker stated on Wednesday. The case was first reported in the Handelsblatt newspaper, which stated that BMW was taking legal action against France’s Valeo and Japan’s Denso for damages of 141 million euros ($155.4 million). A […]
Hadi Zablit promoted to general secretary of Renault, Nissan alliance
Renault, Nissan Motor and Mitsubishi Motors on Wednesday stated they had promoted Hadi Zablit to general secretary of their automaking alliance to speed up the business efficiencies throughout the companies. Zablit, senior vice president of business development at the alliance, takes up the recently created position on Monday and will concentrate on maximizing the contribution […]
Daimler cost cuts would hit Germany hardest
Daimler’s workforce in Germany will bear the worst hit of 1.4 billion euros ($1.5 billion) in cost cuts prepared by the end of 2022, the head of the automaker’s works council told a newspaper. “Two-thirds of the sum is to be saved in Germany,” Michael Brecht informed Stuttgarter Zeitung. Daimler stated on Friday it would […]
Volkswagen headquarters has been raided again over diesel scandal
German public prosecutors raided the Wolfsburg headquarters of Volkswagen in the latest investigation into the automaker’s diesel emissions scandal on Tuesday. Prosecutors stated investigators intended to confiscate documents. Volkswagen, which admitted in 2015 to cheating U.S. emissions tests on diesel engines, said it was absolutely cooperating with the authorities, but consider the investigation as unfounded. […]
FIOM says new models needed for full employment at FCA’s Turin plant
FIOM, the Italian metalworker union, on Monday, called on Fiat Chrysler to come up with new car models to be produced in its home town of Turin to make sure that the Mirafiori plant there reaches full employment. In October Fiat Chrysler and Peugeot owner PSA revealed strategies to form a $50 billion group, set […]
British Volkswagen drivers launch ‘dieselgate’ case in Court
Tens of thousands of British drivers on Monday alleged Volkswagen of fitting devices to cheat clean air laws at the beginning of the country’s biggest class-action lawsuit brought to deal with “dieselgate”. VW was caught using unlawful software to cheat pollution tests in 2015, resulting in a global backlash against diesel and numerous court cases […]
Renault close to finalizing shortlist for new CEO
Renault is close to making a final decision on the shortlist of names for the post of CEO and could finish the shortlist before the end of 2019, said Renault chairman Jean-Dominique Senard. Senard informed reporters on the sidelines of a French automaker conference that the shortlist would be completed “in a very short space […]
Nissan, Renault, Mitsubishi agree to form new venture for R&D
The Nissan Motor, Renault and Mitsubishi Motors alliance has agreed to establish a new company focused on research and development of advanced automotive technologies, Kyodo News stated. The three companies will declare a solid plan in January, Kyodo reported on Sunday, citing people knowledgeable about the matter. The new venture also aims to strengthen the […]
Fiat Chrysler reaches provisional labor deal with UAW
Fiat Chrysler Automobiles NV and the United Auto Workers (UAW) union on Saturday declared a tentative agreement for a four-year labor contract, which is good for the automaker as it works to merge with France’s Groupe PSA. Fiat Chrysler and PSA had earlier announced a planned $50 billion merger to form the world’s fourth-largest automaker. […]
Daimler could face further recalls because of diesel cheating in Germany
German automaker Daimler could deal with more recalls associated with manipulated diesel engines in some of its compact car models, weekly magazine Der Spiegel reported on Friday, without mentioning sources. Germany’s transportation regulator KBA is presently investigating suspicious software utilized in some diesel engines which Daimler purchased from another automaker, the report said, adding that […]
PSA to sell stake in smaller Chinese tie-up as sales decline
Peugeot maker PSA Group stated it is preparing to sell its 50% stake in an eight-year-old joint venture with Chinese partner Chongqing Changan Automotive which is having a hard time with falling sales. The announcement in Paris on Thursday came after an indication from Changan in regulatory filings in November that it was looking for […]
Daimler to cut at least 10,000 jobs in recent car industry cuts
Daimler stated on Friday it will slash at least 10,000 jobs globally during the next three years, after others in the industry as they cut expenses to spend in electric vehicles while grappling with decreasing sales. It marks the third announcement on expenses cuts this week by a significant German auto company as automakers look […]
