Renault Sees 8% Decrease In European Auto Market In 2010
Posted by admin on Aug 2, 2009
Automaker Renault SA (RNO.FR) expects to see an 8% decrease in the European car market in 2010 compared with 2009, continuing the trend of 2009, Chief Operating Officer Patrick Pelata said Thursday.
He told an analysts’ conference call that the company is also aiming to achieve an operating profit next year.
Earlier Thursday, Renault said it had incurred a EUR620 million loss at the operating level in the first half of this year.
Pelata said the situation in the Russian automobile industry is “just terrible,” with the market down 50%. Renault has a 25% stake in Russian automaker AvtoVAZ (AVAZ.RS), and makes and sells its low-budget Logan range of cars in Russia.
But he said prices are going up and Renault’s market share is going up, too. “This isn’t good news for the bottom line of Renault yet,” but it will start showing up eventually, he said.
Pelata said AvtoVAZ is preparing a cost-cutting plan that will be implemented by its new Russian chief executive, who recently replaced a Renault manager. The plan would be impossible to impose with a French executive as it will be “very tough” from labor viewpoint.
-By David Pearson, Dow Jones Newswires; +331 4017 1740, david.pearson@dowjones.com
Tags: Renault, Renault Sees 8% Decrease In European Auto Market In 2010, Renault Sees 8% Decrease In European \\\\\\\\\\\\\\\
Honda CR-Z Hybrid Coupe Sales to Start in Japan in February 2010
Posted by admin on Aug 2, 2009
For some twisted reason, Honda likes to remind us every once in a while that the CR-Z hybrid sports coupe and the hybrid version of the Jazz - Fit will enter production. But to completely fair, at least this time the Japanese automaker released some new information in the form of the JDM launch dates. According to Honda, customers in Japan will be able to buy the CR-Z from February 2010 and the Fit Hybrid (Jazz in Europe) sometime before the end of 2010.
Honda added that the start date for European sales of the spiritual successor of the CR-X coupe that is based on the 2007 Tokyo Show CR-Z concept car will be released toward the end of 2009.
And what about the Jazz Hybrid? Well, Honda’s exact words were “the IMA system will also be introduced into the award-winning Honda Jazz within the next few years.” In other words, don’t expect to see the hybrid supermini arriving at Honda’s European showroom any time soon.
Tags: honda, Honda CR-X, Honda CR-Z, Honda CR-Z Hybrid Coupe Sales to Start in Japan in February 2010, Honda Fit, Honda Jazz, Integrated Motor Assist, Japan, Makes and Models
2010 Jaguar XJ Officially Unveiled
Posted by admin on Aug 2, 2009
The all new Jaguar XJ was officially revealed today at the Saatchi Gallery in London hosted by Jay Leno. There was some VIP’s in attendance including a variety of celebrities, public figures and business leaders. The newest Jaguar model features an exciting fresh design combined with high performance and engineering. Once very cool new exterior feature is the panoramic glass roof providing extra interior light and the vehicle a lower roof line. The car will have a greatly improved carbon footprint thanks to aerospace inspired aluminum body architecture that was used in building the car. This improves fuel consumption and performance. The interior features chrome and piano black detailing, leather and veneer surfaces. Other features include gadgets like an 8-inch touch screen that you watch DVD’s on as well as a 1200W sound system and media hub.
Tags: 2010 Jaguar XJ, 2010 Jaguar XJ Officially Unveiled, DVD, Jaguar, Jaguar Cars, Jaguar XJ, london, Makes and Models, Saatchi Gallery, Touchscreen
Aston Martin Reportedly Cancels the Lagonda SUV
Posted by admin on Aug 2, 2009
Kids growing too big for the back seat of your Aston Martin DB9? Fortunately the company’s Rapide four-door model is just around the corner. But if you were holding out for something a little bigger, you may be waiting a little while longer, or else be advised to look elsewhere. Reports indicate that the British purveyor of luxury GTs has put its plans to relaunch the Lagonda marque with a new crossover utility model on indefinite hold.
The Lagonda name is part of Aston’s corporate identity, but has remained dormant for years. A few months back at the Geneva auto salon, Aston Martin shocked members of the press with an ungainly crossover concept. Reaction was so cold that the company took it off the show stand by the second day, keeping it away from the public. Now the company’s chief executive has reportedly confirmed that the model has been postponed indefinitely, meaning that it could come back in another form or it could never come back at all. Considering that Aston is known for more beautiful design work than it exhibited with the Lagonda concept, we’re hard-pressed to mourn its passing.
Tags: Aston Martin DB9, Aston Martin Reportedly Cancels the Lagonda SUV, AstonMartin, autos, Corporate identity, Geneva, GenevaMotorShow, Lagonda, Recreation
Alfa Romeo Reportedly Cancels the MiTo GTA
Posted by admin on Aug 2, 2009
Everyone stood up and paid attention at the Geneva auto salon this past March when Alfa Romeo took the wraps off the MiTo GTA. The lust-worthy hatchback promised all the Italian style and aggression you’d get from a Ferrari or Lamborghini in a more accessible package and finally gave the diminutive MiTo premium hatchback – Italy’s answer to the Mini Cooper and styled to mimic the gorgeous Alfa 8C Competizione – the capabilities to match its styling. Although what we saw in Geneva was just a concept car, Alfa Romeo spokesmen said we’d see a production version on the road by the end of the year. Well, don’t go making room in your driveway just yet. Because while Alfa Romeo is slated to finally return to the North American market as part of parent company Fiat’s new partnership with Chrysler, the MiTo GTA may not make it. And not just the trip across the Atlantic either, as Alfa Romeo now says that the harsh economic circumstances mean that the project has been put on indefinite hold.
Tags: alfA romeo, Alfa Romeo 8C Competizione, Alfa Romeo Reportedly Cancels the MiTo GTA, Chrysler, Fiat, Italy, Makes and Models, mini, MiTo GTA