Industry Developments

German car and truck maker, Daimler, has acquired a 22.3% stake in heavy diesel engine manufacturer Tognum from Swedish private equity group EQT. The deal for around EUR585m was approved... 2008-05-02

Audi, the luxury unit of the Volkswagen Group recorded an increase in operating profit by 28.2% to EUR514mn (US$857.2mn) in its first quarter despite lower sales volume with respect... 2008-04-29

Renault is looking to cut down production of its Laguna brand at the recently redesigned assembly plant in Sandouville, France. The move is expected to result in about 300 layoffs... 2008-04-29

The Fiat Group has unveiled a first quarter net profit of EUR427mn, well ahead of analyst expectations. According to industry data, pre-tax profits rose by EUR62mn to EUR636mn.... 2008-04-25

French vehicle manufacturers Peugeot Citroën and Renault reported an improvement in their financial situation for the first quarter of 2008. The results mean that both companies... 2008-04-24

The BMW Group has reported a 5.7% year-on-year (y-o-y) increase in first quarter global sales to 351,787 units. According to company sources, during the period January-March 2008... 2008-04-10

Nissan has pledged to keep the pedal pressed on investments in Spain in order to strengthen its position in the market. In line with a plan announced at the start of 2007, Nissan... 2008-04-04

Mazda Motor Europe has unveiled solid results for February 2008. According to industry sources, the carmaker sold 27,300 units during the second month of the year, up by 32% year-on-year... 2008-03-26

The Renault Group has unveiled robust results for February 2008. According to a company communiqué, the company's global sales rose by 14.8% year-on-year (y-o-y) to 196,692 units... 2008-03-18

German heavyweight Volkswagen (VW) has unveiled an ambitious plan aimed at becoming the world's biggest carmaker. The company has reported record results for 2007, which, according... 2008-03-14