Fiat’s factories in Italy will resume production on Monday after a strike by truckers ended on Friday. Fiat lost production of 8,400 vehicles after parts deliveries were disrupted by a week-long strike by truckers protesting higher taxes on fuel.
Ford said its pretax operating earnings in the fourth quarter fell 15 percent to $1.1 billion, in part due to widening losses in Europe, as the company posted its third straight annual net profit.
Fiat says the fourth variant of its 500 model lineup will be called the 500L, with L standing for large.The five-seat subcompact will go on sale in Europe in the summer. A seven-seat model will arrive later in the year.
Following a disastrous third quarter in 2011, the automotive sector staged a modest comeback in the final three months of last year.
Sweden’s Debt Office has paid back a loan made by the European Investment Bank to Saab, making the country the bankrupt carmaker’s biggest creditor.
Kia says it aims to lift sales in Europe by 22.8 percent this year to 356,000 vehicles and in the U.S. by 10 percent to 534,000 vehicles, despite an uncertain economic environment.
PSA has set an annual production target of 550,000 cars for its new 208 subcompact model, the automaker’s industrial director, Denis Martin said.
The financial crisis in Europe is adding new urgency to General Motors’ attempt to turn around its money-burning Opel unit. The U.S.
French automakers are facing a tough 2012 due to forecasts of weak sales in their home market.
Italian brake maker Brembo says that its main product has improved because of its work with the aviation and aerospace industries.
