Stoneacre Motor Group has continued to drive past its former £1 billion turnover growth target with the acquisition of the Hodgson Newcastle Ltd car dealership group. The AM100 retail group told AM that the acquisition had been postponed following the outbreak of COVID-19 coronavirus but was completed last week under the deal’s initial terms. “A… Continue reading Stoneacre Motor Group acquires Hodgson Newcastle Ltd car dealership group
Tag: PSA
Tesla is working on massive sale presence expansion with new markets
Tesla is working on a significant expansion of its retail and sale presence, including expansions in new markets, as it expects to achieve massive growth in the second half of the year. Just over a year ago, Elon Musk was talking about shutting down almost all of Tesla’s stores and moving to an online-only sale… Continue reading Tesla is working on massive sale presence expansion with new markets
German Manager Magazin: Car manufacturers give more discounts – highest discounts on electric cars000003
On the German Car market prices drop for end users. According to the regular discount study conducted by the Duisburg CAR Institute, dealers and manufacturers tweaked all available screws for discounts in July. The lower VAT had a particular impact on the internet offer prices of 30 popular models, which were on average 22.5 percent… Continue reading German Manager Magazin: Car manufacturers give more discounts – highest discounts on electric cars000003
German Manager Magazin: McKinsey: Corona slows down the German auto industry for another three years000002
At the beginning of this week, Opel boss Michael Lohscheller (51) reported a rare success at this time: The car manufacturer from Rüsselsheim, part of the French PSA group, actually made a profit in the first half of the year: 110 million euros in operating profit means a margin of 2 Percent. But, and that… Continue reading German Manager Magazin: McKinsey: Corona slows down the German auto industry for another three years000002
DPD Electrified 10% Of Its Van Fleet Ahead Of Schedule
The British division of DPD boasted that it has increased the number of EVs from just over 130 at the start of 2020, to more than 700, smashing its own target by five months. That’s more than 10% of the entire fleet. It makes also DPD UK the biggest electric delivery fleet in the country. The… Continue reading DPD Electrified 10% Of Its Van Fleet Ahead Of Schedule
Fiat Chrysler posts lower-than-expected operating loss in second quarter – ETAuto.com
Fiat Chrysler (FCA) said its adjusted earnings before interest and tax (EBIT) were negative for 928 million euros ($1.10 billion) in the April-June period, versus forecast for a 1.87 billion euro loss. MILAN: Italian American automaker Fiat Chrysler posted a smaller-than-expected operating loss in the second quarter, as it managed to contain negative effects of… Continue reading Fiat Chrysler posts lower-than-expected operating loss in second quarter – ETAuto.com
Carmakers borrow industry-leading $132 billion to weather Covid-19
Loans for virus relief eased during July as firms repay loans. (Image: Bloomberg) New York: The automotive industry has borrowed $132 billion since March as the spread of the coronavirus curbed demand for cars and closed factories. The sector is the largest user of funds put in place to ease the impact of the pandemic.… Continue reading Carmakers borrow industry-leading $132 billion to weather Covid-19
Fiat Chrysler lost $1.24B in 2nd quarter of 2020
CLOSE Things can always be worse. That’s one way to look at the earnings reports for Fiat Chrysler Automobiles and other automakers in the midst of a global downturn brought on by the coronavirus pandemic. The question on Friday was how bad things would get for FCA, the last of the Detroit Three to announce… Continue reading Fiat Chrysler lost $1.24B in 2nd quarter of 2020
Detroit Three signal cautious optimism for second half of 2020
Detroit’s three automakers are cautiously optimistic for the next six months after second-quarter earnings took a beating because of the coronavirus. Performance predictions hinge on specific conditions, but other actions signal a brighter future. “We expect a much, much better second half,” Fiat Chrysler Automobiles NV CEO Mike Manley said Friday during a conference call after the… Continue reading Detroit Three signal cautious optimism for second half of 2020
Fiat Chrysler limits COVID losses, sees much better second half
MILAN (Reuters) – A small profit in North America helped Fiat Chrysler Automobiles (FCA) to limit losses from the COVID-19 crisis in its second quarter, and the automaker forecast a “much, much better second half” ahead of its planned 2021 merger with France’s PSA Group. FILE PHOTO: A Fiat Chrysler Automobiles (FCA) sign is seen… Continue reading Fiat Chrysler limits COVID losses, sees much better second half