Car plant shutdowns may cost auto industry more than $100bn

Posted on April 6, 2020 by Admin

Figure based on Covid-19 closures in Europe and North America lasting to end of April

The continued closure of car plants across Europe and North America will cost the auto industry more than $100bn (£82bn) in lost revenues if the shutdown lasts until the end of April.

All major European carmakers have suspended production because of disruption caused by the spread of the coronavirus and if this continues as expected until the end of April, this will account for $66bn (£54bn) in lost sales in Europe, or 2.6m cars. In North America this will account for 2m cars, and lost sales of about $52bn (£42bn).

Every major UK and European carmaker to stop or cut production

Posted on March 20, 2020 by Admin

As disruption from Covid-19 spreads, only some low-volume producers will remain open

Every major carmaker in the UK and Europe is suspending or cutting production as the disruption from the coronavirus outbreak spreads – with only lower-volume manufacturers such as Aston Martin keeping factories open.

Jaguar Land Rover (JLR) and Bentley Motors have become the latest British carmakers to suspend production at their UK factories.

Renault-Fiat Chrysler merger collapses

Posted on June 6, 2019 by Admin

French government blamed as €33bn deal to create world’s third largest carmaker stalls

The proposed €33bn merger of Fiat Chrysler and Renault has collapsed after an intervention from the French government, Renault’s biggest shareholder.

Fiat Chrysler, an Italian-American company, withdrew from a 50-50 merger proposal for its French rival after a board meeting on Wednesday. A deal would have created the world’s third-largest carmaker behind Volkswagen and Toyota.

Fiat Chrysler proposes merger with Renault to reshape car industry

Posted on May 27, 2019 by Admin

Deal would create world’s third-largest automaker and ‘save €5bn a year’ by sharing research

Fiat Chrysler has proposed a merger with France’s Renault that would create the world’s third-largest carmaker and save billions needed to invest in the race to make electric and autonomous vehicles.

The merged company would produce 8.7m vehicles annually and save €5bn ($5.6bn or £4.4bn) each year by sharing research, purchasing and other activities, according to a statement released by Fiat Chrysler Automobiles (FCA). It said the deal would involve no plant closures but did not address potential job cuts.