More in Europe

  • Newswire

    CORRECTED-Peugeot, Mitsubishi to suspend production at Russia plant  

    (Corrects to say SUV line stopping from April 27, not April 2) MOSCOW, March 27 (Reuters) - PCMA Rus, a Russian venture owned by France's PSA Peugeot Citroen and Mitsubishi Motors Corporation, will temporarily suspend production of Peugeot, Citroen and Mitsubishi models, it said on Friday. The venture, which has a plant in Kaluga south of Moscow, said it would also cut 100 jobs....More
  • Newswire

    Volkswagen Scaling Back Russian Operation  

    The German automaker is cutting back on shifts at its Kaluga car plant and is not renewing the contracts of at least 150 workers, but says it is continuing with construction of an engine plant and parts warehouse....More
  • Newswire

    PSA Says Economic Recovery Brings Profit Goal Closer  

    The French automaker's chief financial officer says a weak euro and falling raw-materials costs could help the company reach its 2018 goal of a 2% profitability margin ahead of schedule....More
  • Newswire

    Russia Approves Subsidies for Automakers  

    The government is providing RR10 billion to support automakers suffering from a prolonged sales slump and higher production costs stemming from the weakening ruble....More
  • Newswire

    Korea Automaker Ssangyong Halts Russia Exports  

    South Korea's fourth-largest automaker has exported no vehicles to Russia this year, bypassing the country's foundering economy and steadily falling ruble by boosting sales to China and Europe....More
  • Newswire

    Daimler to Make Major German Plant Upgrade  

    The automaker pledges to invest "hundreds of millions of euros until 2020" into upgrades at its main plant in Stuttgart....More
  • Newswire

    BMW CEO Hints Audi Could Snag High-End Sales Crown  

    The BMW chief says although it would remain the top-selling premium automaker if the Mini brand was included, but it has no products to compete with luxury subcompacts such as Audi's A1....More
  • Newswire

    European Automakers Say February New-Car Sales Up 7%  

    The ACEA automakers group says February's result, the 18th consecutive monthly increase, was driven by double-digit sales gains in Italy and Spain....More
  • Newswire

    Nissan Suspending Russia Production Amid Slow Sales  

    The Japanese automaker, caught up in the industry's 38% year-on-year sales slump in February, is halting production at its St. Petersburg plant through March 31....More
  • Newswire

    Volkswagen's Skoda Unit Posts Record Profits in 2014  

    The Czech Republic's largest manufacturer says last year's €665 million profit was 46% above the prior year and was driven by its first-ever full year of exceeding 1 million sales....More
  • Newswire

    Supplier Valeo's CEO Says Acquisitions on Table  

    Jacques Aschenbroich says Valeo is growing its capabilities in areas such as hybrid technology and connected cars, and wants to pursue an "active role in potential consolidation" with other suppliers....More

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