Automotive industry company news
Volkswagen Group stayed very much in the news this week. The company posted a set of results that were dragged down by provision made for co...
Just when you thought things couldn't be any worse for the auto sector in Russia, up popped the AEB recently with its latest monthly instalm...
You might be forgiven for thinking the Russian Federation was at the edge of an economic precipice at the moment, facing a potential avalanche of catastrophic bad news that even for this battle-hardened country is especially daunting.
Despite some small recovery in the oil price of late, adding a few pence, cents or centimes back onto a litre of fuel at the pumps, the crash in the price of the black stuff has been nothing short of spectacular during the last few months.
One of the aspects that genuinely surprised me about the recent visit to Russia organised by Renault and AvtoVAZ was the almost complete absence of trade union antagonism to restructuring.
Last week Simon Warburton visited the Moscow Motor Show with Renault Russia and had the opportunity to talk with senior executives, as well as travel to alliance partner, AvtoVAZ, at its Togliatti plant in Samara. Here are some of the quotes from that trip..
Calum MacRae talked to JATCO's Yuko Fujita. JATCO holds 49% of the world CVT market. JATCO, 75% held by Nissan Motor Company, was exhibiting at the Paris Motor Show for the first time.
PSA Peugeot Citroen recently inked a partnership with Agromash Holding, for the assembly and distribution of the French automaker's passenger cars and LCVs in Kazakhstan. Simon Warburton was in contact with the trailer and agricultural machinery manufacturer based in the huge country on Russia's southern border.
Renault-Nissan and Rostec State Corporation say they expect to appoint Serguey Skvortsov as AvtoVAZ chairman, with Denis Le Vot elected as vice chairman following the Russian automaker's annual shareholder meeting on 23 June in Togliatti.
Nicolas Maure, currently heading up Renault Group operations in Romania, has been named as the new CEO of AvtoVAZ starting April 4. He succeeds Bo Andersson.
The Renault-Nissan Alliance said it sold 8,528,887vehicles in 2015, up almost 1% year on year, thanks to record sales in the United States, China and Europe.
AvtoVAZ Group has reported revenue of RUB131.2bn (US$2.04bn) for the first nine months of 2015, compared to RUB135.2bn for the same period in 2014.
AvtoVAZ and Bipek Avto have begun to work together on the markets of the Central Asian region. The two companies have signed a corresponding agreement in Astana. It was signed by the president of AvtoVAZ, Bo Andersson and the chairman of the board of directors of Bipek Avto, Anatoly Balushkin, in the presence of Russian President, Vladimir Putin and the president of Kazakhstan, Nursultan Nazarbayev.
On 13 October, GM-AvtoVAZ built the six hundred thousandth silver-coloured Chevrolet Niva LC. The first Niva off-roader rolled off the line on 23 October 2002.
The Russian car market is continuing to decline sharply in the face of Russia's sharp economic recession. Sales of new passenger cars and LCVs in Russia decreased by 28.6 % in September 2015 to 140,867 units, according to data released by the Moscow-based AEB Automobile Manufacturers Committee.
AvtoVAZ CEO, Bo Andersson remains confident Russia's relatively low car ownership still sees major potential for the country currently under the yoke of severe international economic sanctions.
GAZ Group parent, Russian Machines says "not one rouble" is wasted in the company as it continues its efficiency moves to drive down costs in the business.
AvtoVAZ is urging the Russian government to stick with its Decree 166 programme mandating local content in vehicles as the automobile market continues to struggle under intense economic pressure.
AvtoVAZ says the current weak status of the Russian Rouble is a "huge advantage" as it looks to make hay while the currency sun shines.
GAZ Group's parent estimates the bottom may have been reached of plummeting passenger and light commercial vehicle sales in Russia but concedes the government will likely have to keep stepping in with incentive programmes.
AvtoVAZ head Bo Andersson believes that Russia's car market could return to 3m units by 2018, if things "go well".
AvtoVAZ is no longer the Russian market's number one, the combined sales of Hyundai and Kia having exceeded those of Lada for the first time.
Automotive unions as well as labour confederations have met in Moscow to discuss Global Framework Agreements (GFA) with a view to gaining experience on their potential implementation in Russia.
Severstal has signed a four-month contract to deliver rolled steel to Renault-Nissan from its Cherepovets Mill (CherMK).
AvtoVAZ says it is continuing to focus on 12 countries bordering Russia as it looks to diversify the offer to overseas markets.
Russia is mulling providing subsidies to the automotive industry this year of RUB20bn (US$332m) says a Moscow analyst, with the country facing unprecedented economic headwinds.
AvtoVAZ is urging the Russian government not to delay implementing Euro V emissions standards as the country increasingly addresses environmental considerations.
AvtoVAZ says there will be no further layoffs as the automaker estimates Russia sales for 2015 will be between 1.5m and 1.7m vehicles, with economic conditions continuing to provide choppy water for Russian producers in the country.
AvtoVAZ plans to manufacture 712,000 vehicles in 2015, up around 39% from the 511,894 produced in 2014. The upcoming launch of new Datsun and Renault models will drive the growth.
Renault has reported a tripling of net income in its 2014 full-year results in spite of deeper losses incurred in Russia.
It became clear to me just why the Russians were so twitchy about letting any old foreigner in to Nizhny Novgorod until around 1992, after talking to GAZ CEO, Vadim Sorokin from his eyrie on the 14th floor of the automaker's HQ in the same city this week.
I'm looking at attending the upcoming Russian Automotive Forum (RAF) event in Moscow.
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MarketLine's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organi...
Automotive Manufacturing in Eastern Europe
Automotive Manufacturing in Eastern Europe industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value and volume 2009-13, and forec...
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Automotive Manufacturing in Russia industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value and volume 2009-13, and forecast to 2...
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