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News watch October 2012: today's industry news
Wed, 31 Oct 2012Welcome to CAR Magazine's news aggregator as we round up the daily stories in the auto industry. Top tip: news summaries are added from the top hour-by-hou Wednesday 31 October 2012• It's emerged GM's European 2012 earnings are down nearly half a billion dollars in Europe, where it now expects to lose $1.5bn to $1.8bn before interest and taxes for the full year (DetNews)• Ford has posted a third-quarter net profit of $1.63bn (£101bn) - almost matching its eventual profit total for the entire year 2011. Despite painful losses in Europe (Ford expects to lose $1bn in Europe alone this year) a resurgent North American market has buoyed Fords sales even higher than previous forecasts (Automotive News Europe)• Fiat CEO Sergio Marchionne has weighed in against Republican presedential nominee Mitt Romney, who argued that a move towards Chinese production would harm American jobs.
Toyota to end Australian manufacturing in 2017
Mon, 10 Feb 2014When Holden announced that it would no longer build cars in Australia after 2017, that country’s flagging automotive industry was effectively put on notice -- Mitsubishi had stopped building cars there in 2008, and Ford says its two plants there will close in October 2016. Now Toyota has announced that it has no option but to end vehicle Australian vehicle production. Like Holden, it will close its factories there in 2017.
Smart Forvision Concept points at new Fortwo
Thu, 01 Sep 2011Smart Forvision Concept - a pointer to the 3rd generation Fortwo Just as they do with Maybach, Mercedes persist with Smart. Despite the fact that both outings must cost an arm and a leg to keep going with, as far as we know, no profits ever. And that perseverance seems unlikely to end any time soon – at least for Smart – with the reveal of the Smart Forvison Concept, which is heading for Frankfurt.
