Mario Armero says factors in his optimistic forecast include falling oil prices, an increase in money available for auto financing after the country’s latest fiscal reforms, and low interest rates set by the European Central Bank.
Spain’s competition commission contends the dealers agreed to fix prices and exchange market information, creating cartels in several geographic zones surrounding Madrid, Catalonia, Andalusia, North, Asturias and Valencia.
The EV’s powertrain will be supplied by the electromobility division of Jofemar, a global leader in vending-machine production. The company likely will assemble the powertrain from components now on the market.
The investment raises the possibility Audi A1 production CUV could be transferred to Martorell from the VW plant in Brussels, as the Spanish factory already builds the Audi Q3 and labor costs are lower there than in Belgium.
The ’15 Ibiza is compatible with smartphones running on either Android or iOS operating systems and features the MirrorLink system that displays the user interface of the smartphone applications on the touchscreen.
Automakers credit the uptick in profitability to restructuring efforts and the government’s ongoing scrappage program providing subsidies for new-vehicle purchases while retiring less-efficient vehicles.
At the core of CNH Industrial’s reorganization is the Iveco plant in Brescia, Italy, which assembles Eurocargo medium trucks. Sagging sales have left the facility with a surplus of workers to be assigned to the Suzzara, Italy, plant gaining Daily LCV work.
Facing sanctions in addition to the dealers is a market-research firm that used secret shoppers to solicit offers from individual dealerships, then report back to the cartel to determine whether members were upholding the price-fixing agreements.
Sales jumped 30.4% from 2012 to 2014 under Luca Napolitano as the Fiat subsidiary’s Fiat, Fiat Professional, Lancia, Jeep and Alfa Romeo brands registered more than 36,000 units and outperformed the market an average 12%.
The knowledge gap already could be affecting sales of advanced-technology vehicles, which last year accounted for 3.5% of the nearly 17 million cars and trucks sold in the U.S., according to WardsAuto data....More
“Logically, Cadillac is not disconnected from GM,” the longtime luxury executive says. “The way we want to organize the business in the future is that Cadillac will own the entire process, all the things that touch Cadillac.”...More