Fiat-Chrysler, the owner of Ferrari, announced it is planning a spinoff on the stock exchange for the Italian supercar manufacturer in the second or third quarter of 2015. Fiat-Chrysler shares jumped more than 14 percent last Wednesday following the announcement that an initial public offering would be made for the […]
Industry
Australian vehicle sales for October 2014 – Veloster overtakes 86
Australian new vehicle registration VFACTS figures for October 2014 have been released, and on first glance, we see the Hyundai Veloster has overtaken the Toyota 86 for only the second time this year. There’s also been quite a few newcomers showing promise, in particular the new Lexus NX small SUV […]
Hyundai-Kia given record fine for inaccurate economy figures
Korean manufacturers Hyundai and Kia have just been given the largest penalty in history for overstating fuel economy claims. A $350 million fine issued by the US Department of Justice & Environmental Protection Agency consists of $100 million in civil payments; loss of $200 million worth of regulatory credits. Hyundai […]
Nurburgring sold again, to Russian billionaire Viktor Charitonin
A Russian billionaire has bought the Nurburgring racing circuit and road course in Germany. The man, Viktor Kharitonin, has apparently already made a second payment instalment even though it is not due until December. The Nurburgring was bought by Capricorn Group and Getspeed earlier this year, of which Capricorn took […]
Mercedes-AMG buys 25% stake in MV Agusta motorcycles
Following the trend recently set by Volkswagen Group and Audi, of which bought Ducati in 2012, Mercedes-AMG has confirmed rumours that it is buying 25 per cent stake in MV Agusta motorcycles. Expect some new V8 motorcycles soon… Well, not exactly. The brand says it is cooperating specifically in marketing […]
Volkswagen closer than ever to Toyota in global sales race
Volkswagen Group is edging ever so much closer to Toyota to become the world’s largest carmaker. The two auto giants are as close as ever going into the final quarter of the year in terms of global sales. So far this year through September Volkswagen Group, which includes all car […]
Maserati out-profits Ferrari for first time in 25 years
Maserati’s third quarter profit topped sibling brand Ferrari for the first time in over 25 years, also outselling the brand in terms of units shifted for the July-through-September period. The Italian brand, (both) owned by Fiat Chrysler Group, sold 26,428 vehicles during the third quarter period, easily overshadowing Ferrari’s 5280 […]
Holden boss Gerry Dorizas resigns after 7 months
Holden chairman and managing director Gerry Dorizas has resigned after just seven months on the job. Dorizas took over the helm just after Holden announced it was closing down local manufacturing in 2017. Despite the setback in Holden’s future plans, General Motors is predictably staying confident in the local brand […]