Despite the government cash-for-clunkers program’s goal of replacing older vehicles with lower fuel economy and higher emissions with new models, older cars generated an average 9.1% profit compared with 8.8% for new ones.
Upon signing the agreement, Renault Spain’s 13,000 workers will receive a €500 bonus. The unions also will receive a cumulative 3.5% salary increase, starting with a 0.5% raise in 2017 and 1% raises in each of the following three years.
The so-called Second Model Agreement asks VW to retain the Landaben plant as the primary Polo assembly facility and maintain production at current levels. Both sides would negotiate competitiveness targets established by the automaker.
The Spanish subsidiary of French automaker Renault offers a 2017-2019 labor and industrial plan that would award a new model to the Valladolid plant and assure engine and transmission production in Valladolid and Seville, respectively.
Bosch says its fully autonomous vehicle technology could be ready by 2025. Whether the required infrastructure, which will cost at least €3 billion ($3.4 billion), will be ready by then remains to be seen.
To maintain growth, General Manager Emilio Herrera is heading an ambitious program of new-model launches, starting with the fourth generation of the Optima model arriving in Kia showrooms before the end of January.
Renault has spent the biggest portion of its €600 million 2014-2016 investment program on retrofitting the Palencia plant to the Common Modular Family platform on which the new Megane, Kadjar and Nissan Pulsar models are built.
Volkswagen initially refused to give back the subsidy payments, contending they were based not on nitrogen-oxide but on carbon-dioxide emissions. But VW later admitted it had understated CO2 emissions as well.
Last year, Hyundai was the first automaker in the world to sell a vehicle powered by a hydrogen fuel cell. Hyundai Vice Chairman Woong-chul Yang makes it clear the automaker plans to be a trailblazer in hybrids as well as fuel cells....More
A massive increase in Defender thefts has followed JLR’s January termination of the all-wheel-drive workhorse’s 67-year production run. Rural insurer NFU Mutual says more than 500 Defenders were stolen across the U.K. last year....More