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Audi sales rise 7.7% in July on China, U.S. surge (06/08/2010 @ 14:55:29)
BERLIN (Bloomberg) -- Audi said deliveries rose 7.7 percent in July as demand from China and the U.S. boosted sales to record levels in both regions.
Deliveries increased to 91,400 cars and sport-utility vehicles last month from 84,853 a year earlier, Audi said. Seven- month sales gained 17 percent or 646,300 units,
“In July we more than tripled sales of our imported models in China,” sales chief Peter Schwarzenbauer said in a statement. Chinese sales surged 53 percent to 20,537 vehicles while U.S. deliveries increased 22 percent to 7,817 units.
Audi has a goal of dethroning BMW AG as the world's largest maker of luxury cars by 2015. Audi is targeting record sales of more than 1.08 million vehicles this year, an increase of 14 percent from 2009.
Audi's forecast compares with a target to increase sales 10 percent at BMW and Mercedes-Benz's plan to outpace market growth of 4 percent.
The Volkswagen AG division is targeting a return on capital in 2020 of more than 18 percent and a pretax profit margin of more than 8 percent of sales, the company said on May 20. Audi contributed 1.33 billion euros to Volkswagen's first-half group operating profit of 2.84 billion euros.
Volkswagen, Europe's biggest carmaker, aims to overtake Toyota Motor Corp. in deliveries and profitability by 2018, and it's targeting a second consecutive year of record sales in 2010.
Read more: http://europe.autonews.com/apps/pbcs.dll/article?AID=/20100806/ANE/100809881/1131#ixzz0vplbzyP2
Opel to offer 'lifetime' warranty on new cars (06/08/2010 @ 14:54:19)
Opel/Vauxhall is introducing a 160,000 km (100,000 miles) warranty on all its new cars to help boost declining sales.
The General Motors Co. unit calls the offer a "lifetime warranty" and says it will include the powertrain, steering system, brake system and electrical equipment throughout the life of a vehicle until it reaches 160,000 km.
Opel/Vauxhall CEO Nick Reilly said the warranty would be standard on all new models and was possible because of the reliability of the brand's vehicles.
“Expensive repairs are a thing of the past,” Reilly said in a statement. “We hope this initiative will convince people to consider purchasing an Opel again.”
Opel/Vauxhall will cover all material costs up to 50,000 km, the carmaker said. From 50,000 km to 100,000 km the amount paid by Opel declines as the mileage on the car increases. From 100,000 km to 160,000 km, Opel will pay 40 percent of the costs, meaning the owner would have to shoulder the remaining 60 percent.
The move is part of a wider effort by the unit to boost new-car sales, which were hit by uncertainty over its future after owner GM said in December 2008 that it would sell the division, then changed its mind.
Opel/Vauxhall sales in Europe fell by 4.5 percent to 536,258 in the first six months in a total market up just over half a percent, according to the European automakers association ACEA. In the key German market, Opel sales plunged 40 percent to 131,364 through July. Sales were hit by controversy over the carmaker's bid to win billions of euros in loan guarantees from the German government toward a restructuring to bring the money-losing division back into profit by 2012.
After Berlin turned down Opel's request, GM decided to fund the 3.3 billion-euro ($4.3 billion) restructuring from its own resources.
Read more: http://europe.autonews.com/apps/pbcs.dll/article?AID=/20100806/ANE/100809893/1308#ixzz0vpl1NZM5
Free shipping for AUTOMETER Tachometers and SFS wire-reinforced hoses (23/06/2009 @ 14:03:29)
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