China’s auto market could decline by about 8% this year

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Auto sales in China may slip to 26 million this year, a fall of around 8%, a senior industry executive cautioned, as the world’s largest auto market braces for a second year of contraction amid declining economic growth and tougher vehicle emissions standards. The recent prediction, by Fu Bingfeng, executive vice chairman of the China […]

Turkey’s auto production almost 490,000 in first quarter

Ankara city

A total of 489,429 vehicles were produced across Turkish automotive industry production lines in the first four months of this year, the Automotive Manufacturers Association (OSD) reported on May 11. The nation’s auto production- consisting of automobiles, commercial vehicles, and tractors- dropped 13% year-on-year in the January-April period. The association stated automobile production in Turkey also declined 14% to […]

Volkswagen brushes 1 billion euro legal hit aside with higher SUV sales

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Sales of higher-margin sports utility vehicles and cost cuts assisted Volkswagen to brush a 1 billion euro legal charge aside to meet first-quarter operating profit forecasts on Thursday, sending its shares 4.7 percent higher. Revenues prior interest and taxes (EBIT) dropped to 3.9 billion euros ($4.4 billion) from 4.2 billion a year ago but were […]