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Found 12 results

  1. Volvo is finishing up an immense product rollout that began with the XC90 only a few years ago. So what's next on the Swedish automaker's to-do list? As we reported last July, Volvo is gearing up for an electrification offensive beginning in 2019 with five new electric vehicles and a number of mild-hybrid and plug-in hybrid models. Because of this, the automaker isn't planning to launch like a convertible or a rumored SUV coupe. “It would be nice to have a convertible or a coupe. It’s the cream on the cake but you don’t need it to survive,” said Lex Kerssemakers, Volvo's Europe, Middle East and Africa (EMEA) boss. “We cover 98% of the market with our current portfolio. Our electrification goals show we are taking it very seriously and we are rapidly expanding our electrified powertrains.” Autocar reports that the new XC40 crossover will be the first Volvo model to get an all-electric powertrain. Source: Autocar View full article
  2. Volvo is finishing up an immense product rollout that began with the XC90 only a few years ago. So what's next on the Swedish automaker's to-do list? As we reported last July, Volvo is gearing up for an electrification offensive beginning in 2019 with five new electric vehicles and a number of mild-hybrid and plug-in hybrid models. Because of this, the automaker isn't planning to launch like a convertible or a rumored SUV coupe. “It would be nice to have a convertible or a coupe. It’s the cream on the cake but you don’t need it to survive,” said Lex Kerssemakers, Volvo's Europe, Middle East and Africa (EMEA) boss. “We cover 98% of the market with our current portfolio. Our electrification goals show we are taking it very seriously and we are rapidly expanding our electrified powertrains.” Autocar reports that the new XC40 crossover will be the first Volvo model to get an all-electric powertrain. Source: Autocar
  3. Mitsubishi has unveiled a new three-year strategic plan called 'Drive for Growth'. The Japanese automaker wants to increase unit sales and revenue by 30 percent - about 1.3 million vehicles sold in the case of the former. It also plans on improving profit margins from 0.3 to 6 percent. To pull this off, Mitsubishi will be working on reducing costs in development and manufacturing, along with investing $5.3 billion for new products and revamping key markets. In terms of products, Mitsubishi is planning on launching 11 new and redesigned models over next three years. For the U.S., this means the Outlander PHEV and upcoming Eclipse Cross. The U.S. will also see Mitsubishi work on improving their dealer network. "We will re-energize our dealership network. We are reviewing our incentive plans, both to attract new dealers and to encourage existing ones to achieve better sales," said Trevor Mann, COO of Mitsubishi Motors. The goal is to see a 30 percent increase in sales to 130,000 vehicles by the 2019 fiscal year. For other markets, this is what Mitsubishi is planning, For Southeast Asia (Mitsubishi's largest and most profitable marketplace), a new assembly plant in Indonesia and the launch of Xpander multi-purpose vehicle The focus in Japan is revitalizing their mini-car business after the fuel economy manipulation scandal China will see an expansion in dealers with the goal to sell 220,000 vehicles by 2019 There will be one thing the U.S. will be missing out from Mitsubishi. It was expected that the tie-up with Nissan that begun last year would provide some help for the U.S. But according to Automotive News, Mitsubishi will be going on its own for this region. There are three reasons for this; antitrust concerns between the two companies, vehicles using common engines and platforms not being ready, and Mitsubishi wanting to build the brand back up on their own strengths. Source: Mitsubishi Motors, Automotive News (Subscription Required) Press Release is on Page 2 MITSUBISHI MOTORS LAUNCHES ‘DRIVE FOR GROWTH’ PLAN TO INCREASE VOLUMES, REVENUES AND PROFITABILITY Three-year plan targets more than 30 percent increase in unit sales and revenues Operating profit margin to reach 6 percent or more Capital expenditure and R&D investment to increase to more than 600 billion yen over the three-year period Product renewal to accelerate with launch of six new models including Eclipse Cross SUV Market expansion planned in ASEAN, US and China TOKYO, Japan – Mitsubishi Motors today launched "Drive for Growth," a three-year strategic plan to deliver sustained and profitable growth, targeting an increase of more than 30% in both annual unit sales to 1.3 million vehicles and in revenues to 2.5 trillion yen. Under the plan, Mitsubishi Motors aims to achieve an operating profit margin of 6% or more by the end of fiscal 2019, up from 0.3% in fiscal 2016. The plan combines a product renewal program with targeted market expansion and operating efficiency improvements. Osamu Masuko, Mitsubishi Motors chief executive, said: "Drive for Growth is a new roadmap for Mitsubishi Motors. We will rebuild trust in our company as our highest priority, successfully launch new vehicles, and achieve a V-shaped financial recovery. These will be the foundations for our future sustainable growth, which will involve increased capital expenditure and product development spending." The Drive for Growth plan involves a 60% increase in annual capital expenditure to 137 billion yen in fiscal 2019 – lifting spending as a proportion of sales to 5.5% a year. R&D expenses will rise by 50% to 133 billion yen over the same period. In total, this will amount to more than 600 billion yen in investments. Even with these increases, Mitsubishi Motors will maintain financial discipline and generate positive free cash flow during the period. The company intends to establish a competitive dividend policy comparable to those of other Japanese automotive manufacturers. As part of its investment drive, Mitsubishi Motors plans to strengthen its four-wheel drive SUVs and pick-ups, and to launch 11 models including the XPANDER and Eclipse Cross. The product renewal program will coincide with a market expansion drive in the ASEAN region, Oceania, United States, China and Japan. Mr. Masuko said: "This is an ambitious program to maximize our strengths in growing product segments, especially four-wheel drive, and to pursue growth in markets where our brand has strong potential, particularly the ASEAN region. This growth program will also involve an efficient and disciplined operating structure as we continue to manage costs." Under Drive for Growth, Mitsubishi Motors is targeting a market share of 10% in ASEAN. Sales activities will be reinforced in the US. The company's presence in China will be strengthened with the introduction of models such as the Outlander and Eclipse Cross. And the company will invest in its sales network and product portfolio to return to profitability in Japan by the end of the plan. The strategic plan is based on three strategic initiatives: Product renewal: During the period of the plan, Mitsubishi Motors will launch 11 new models, of which six will be entirely new model changes – averaging two each year – while the remainder will be important updates of existing vehicles. By the end of the plan, the company expects its five best-selling global models consisting of SUV, 4WD, and plug-in hybrid electric vehicles (PHEV) to account for 70% of total sales volume. Reflecting the shift to lower emission models, the company also announced that it plans to provide electrified solutions across its core model range including an EV kei car from 2020. Focus on core markets to drive revenue growth: This year's opening of a new assembly plant in Indonesia, and the recent launch of the XPANDER multi-purpose vehicle, will drive the growth of the ASEAN business, the group's largest and most profitable operation. ASEAN volumes are expected to rise from 206,000 units a year to 310,000 units a year in 2019. Mitsubishi Motors will also launch new models to assist the turnaround of its important mini-car business in Japan. In the US, the company will improve its dealership networks, targeting a 30% increase in unit sales to 130,000 units in fiscal 2019. In China, Mitsubishi Motors will double the number of dealerships and more than double sales to 220,000 units in fiscal 2019. Cost Optimization: Mitsubishi Motors will tightly manage production costs, with a target to reduce monozukuri costs by 1.3% per year, in spite of large investments in R&D. Alongside cost management, the company will benefit from growing synergies from its membership of the Renault-Nissan-Mitsubishi alliance. Mitsubishi Motors is seeking synergies totaling more than 100 billion yen over the course of the plan, with the bulk of these to come from efficiencies in procurement and costs avoided in R&D. Mitsubishi Motors will contribute its expertise in PHEV technology, its capabilities in SUVs and pick-ups, and market strengths in the ASEAN region to the wider synergy program of the Alliance, which aims to double annualized synergies to more than 10 billion euros by the end of 2022. "We are refreshing our product line-up, investing in R&D and targeting core market growth," added Mr. Masuko. "Drive for Growth will enable us to continue the transformation of the company over the next three years."
  4. Mitsubishi has unveiled a new three-year strategic plan called 'Drive for Growth'. The Japanese automaker wants to increase unit sales and revenue by 30 percent - about 1.3 million vehicles sold in the case of the former. It also plans on improving profit margins from 0.3 to 6 percent. To pull this off, Mitsubishi will be working on reducing costs in development and manufacturing, along with investing $5.3 billion for new products and revamping key markets. In terms of products, Mitsubishi is planning on launching 11 new and redesigned models over next three years. For the U.S., this means the Outlander PHEV and upcoming Eclipse Cross. The U.S. will also see Mitsubishi work on improving their dealer network. "We will re-energize our dealership network. We are reviewing our incentive plans, both to attract new dealers and to encourage existing ones to achieve better sales," said Trevor Mann, COO of Mitsubishi Motors. The goal is to see a 30 percent increase in sales to 130,000 vehicles by the 2019 fiscal year. For other markets, this is what Mitsubishi is planning, For Southeast Asia (Mitsubishi's largest and most profitable marketplace), a new assembly plant in Indonesia and the launch of Xpander multi-purpose vehicle The focus in Japan is revitalizing their mini-car business after the fuel economy manipulation scandal China will see an expansion in dealers with the goal to sell 220,000 vehicles by 2019 There will be one thing the U.S. will be missing out from Mitsubishi. It was expected that the tie-up with Nissan that begun last year would provide some help for the U.S. But according to Automotive News, Mitsubishi will be going on its own for this region. There are three reasons for this; antitrust concerns between the two companies, vehicles using common engines and platforms not being ready, and Mitsubishi wanting to build the brand back up on their own strengths. Source: Mitsubishi Motors, Automotive News (Subscription Required) Press Release is on Page 2 MITSUBISHI MOTORS LAUNCHES ‘DRIVE FOR GROWTH’ PLAN TO INCREASE VOLUMES, REVENUES AND PROFITABILITY Three-year plan targets more than 30 percent increase in unit sales and revenues Operating profit margin to reach 6 percent or more Capital expenditure and R&D investment to increase to more than 600 billion yen over the three-year period Product renewal to accelerate with launch of six new models including Eclipse Cross SUV Market expansion planned in ASEAN, US and China TOKYO, Japan – Mitsubishi Motors today launched "Drive for Growth," a three-year strategic plan to deliver sustained and profitable growth, targeting an increase of more than 30% in both annual unit sales to 1.3 million vehicles and in revenues to 2.5 trillion yen. Under the plan, Mitsubishi Motors aims to achieve an operating profit margin of 6% or more by the end of fiscal 2019, up from 0.3% in fiscal 2016. The plan combines a product renewal program with targeted market expansion and operating efficiency improvements. Osamu Masuko, Mitsubishi Motors chief executive, said: "Drive for Growth is a new roadmap for Mitsubishi Motors. We will rebuild trust in our company as our highest priority, successfully launch new vehicles, and achieve a V-shaped financial recovery. These will be the foundations for our future sustainable growth, which will involve increased capital expenditure and product development spending." The Drive for Growth plan involves a 60% increase in annual capital expenditure to 137 billion yen in fiscal 2019 – lifting spending as a proportion of sales to 5.5% a year. R&D expenses will rise by 50% to 133 billion yen over the same period. In total, this will amount to more than 600 billion yen in investments. Even with these increases, Mitsubishi Motors will maintain financial discipline and generate positive free cash flow during the period. The company intends to establish a competitive dividend policy comparable to those of other Japanese automotive manufacturers. As part of its investment drive, Mitsubishi Motors plans to strengthen its four-wheel drive SUVs and pick-ups, and to launch 11 models including the XPANDER and Eclipse Cross. The product renewal program will coincide with a market expansion drive in the ASEAN region, Oceania, United States, China and Japan. Mr. Masuko said: "This is an ambitious program to maximize our strengths in growing product segments, especially four-wheel drive, and to pursue growth in markets where our brand has strong potential, particularly the ASEAN region. This growth program will also involve an efficient and disciplined operating structure as we continue to manage costs." Under Drive for Growth, Mitsubishi Motors is targeting a market share of 10% in ASEAN. Sales activities will be reinforced in the US. The company's presence in China will be strengthened with the introduction of models such as the Outlander and Eclipse Cross. And the company will invest in its sales network and product portfolio to return to profitability in Japan by the end of the plan. The strategic plan is based on three strategic initiatives: Product renewal: During the period of the plan, Mitsubishi Motors will launch 11 new models, of which six will be entirely new model changes – averaging two each year – while the remainder will be important updates of existing vehicles. By the end of the plan, the company expects its five best-selling global models consisting of SUV, 4WD, and plug-in hybrid electric vehicles (PHEV) to account for 70% of total sales volume. Reflecting the shift to lower emission models, the company also announced that it plans to provide electrified solutions across its core model range including an EV kei car from 2020. Focus on core markets to drive revenue growth: This year's opening of a new assembly plant in Indonesia, and the recent launch of the XPANDER multi-purpose vehicle, will drive the growth of the ASEAN business, the group's largest and most profitable operation. ASEAN volumes are expected to rise from 206,000 units a year to 310,000 units a year in 2019. Mitsubishi Motors will also launch new models to assist the turnaround of its important mini-car business in Japan. In the US, the company will improve its dealership networks, targeting a 30% increase in unit sales to 130,000 units in fiscal 2019. In China, Mitsubishi Motors will double the number of dealerships and more than double sales to 220,000 units in fiscal 2019. Cost Optimization: Mitsubishi Motors will tightly manage production costs, with a target to reduce monozukuri costs by 1.3% per year, in spite of large investments in R&D. Alongside cost management, the company will benefit from growing synergies from its membership of the Renault-Nissan-Mitsubishi alliance. Mitsubishi Motors is seeking synergies totaling more than 100 billion yen over the course of the plan, with the bulk of these to come from efficiencies in procurement and costs avoided in R&D. Mitsubishi Motors will contribute its expertise in PHEV technology, its capabilities in SUVs and pick-ups, and market strengths in the ASEAN region to the wider synergy program of the Alliance, which aims to double annualized synergies to more than 10 billion euros by the end of 2022. "We are refreshing our product line-up, investing in R&D and targeting core market growth," added Mr. Masuko. "Drive for Growth will enable us to continue the transformation of the company over the next three years." View full article
  5. William Maley Staff Writer - CheersandGears.com September 11, 2013 With sales of Scion vehicles slumping down and Toyota telling its dealers who have Scion that they can step away from it with no penalties, it makes you wonder if Scion has any new models on the way to help out. Bob Carter, senior vice president of Toyota Motor Sales USA told Reuters that new products for the brand are coming later than sooner. "We have a very robust and very exciting product cadence coming for Scion, however, it's further down the pipeline," said Carter. Scion's sales peak was back in 2006 with 173,034 models. Last year, Scion only moved 73,505. Through August, the brand's total sales stand at 48,959, which is on pace for less than 70,000 vehicles sold this year. Also, Scion represents 0.3 percent of Toyota's total sales in the U.S. Carter is confident that sales of Scion vehicles will rebound. "It's just going to take us a little longer to see the growth," he said. Source: Reuters William Maley is a staff writer for Cheers & Gears. He can be reached at william.maley@cheersandgears.com or you can follow him on twitter at @realmudmonster.
  6. William Maley Staff Writer - CheersandGears.com September 11, 2013 With sales of Scion vehicles slumping down and Toyota telling its dealers who have Scion that they can step away from it with no penalties, it makes you wonder if Scion has any new models on the way to help out. Bob Carter, senior vice president of Toyota Motor Sales USA told Reuters that new products for the brand are coming later than sooner. "We have a very robust and very exciting product cadence coming for Scion, however, it's further down the pipeline," said Carter. Scion's sales peak was back in 2006 with 173,034 models. Last year, Scion only moved 73,505. Through August, the brand's total sales stand at 48,959, which is on pace for less than 70,000 vehicles sold this year. Also, Scion represents 0.3 percent of Toyota's total sales in the U.S. Carter is confident that sales of Scion vehicles will rebound. "It's just going to take us a little longer to see the growth," he said. Source: Reuters William Maley is a staff writer for Cheers & Gears. He can be reached at william.maley@cheersandgears.com or you can follow him on twitter at @realmudmonster. View full article
  7. William Maley Staff Writer - CheersandGears.com October 30, 2012 Mercedes-Benz is about to embark on a huge product offensive to bring in customers into their showrooms. Their key target: Gen Y. "We're a brand we think can absolutely connect with them. Gen Y is just coming of age. We get on their radar screen in a big way," said Steve Cannon, CEO of Mercedes-Benz USA to USA Today. Mercedes' plan is to introduce 19 redesigned models and 11 new models by 2020. Some of those new models include, CLA-Class (Baby CLS; based on the new A-Class) C-Class convertible GLA-Class Crossover Many variations of the next S-Class Redesigned E-Class Source: USA Today William Maley is a staff writer for Cheers & Gears. He can be reached at william.maley@cheersandgears.com or you can follow him on twitter at @realmudmonster. View full article
  8. William Maley Staff Writer - CheersandGears.com October 30, 2012 Mercedes-Benz is about to embark on a huge product offensive to bring in customers into their showrooms. Their key target: Gen Y. "We're a brand we think can absolutely connect with them. Gen Y is just coming of age. We get on their radar screen in a big way," said Steve Cannon, CEO of Mercedes-Benz USA to USA Today. Mercedes' plan is to introduce 19 redesigned models and 11 new models by 2020. Some of those new models include, CLA-Class (Baby CLS; based on the new A-Class) C-Class convertible GLA-Class Crossover Many variations of the next S-Class Redesigned E-Class Source: USA Today William Maley is a staff writer for Cheers & Gears. He can be reached at william.maley@cheersandgears.com or you can follow him on twitter at @realmudmonster.
  9. William Maley Staff Writer - CheersandGears.com October 25, 2012 In a not surprising announcement yesterday, General Motors and PSA Peugeot-Citroen said they will be co-developing four new platforms that are part of the Global Strategic Alliance between the two. The platforms will primarily be for Opel/Vauxhall, Peugeot, and Citroën. Those four platforms are, A new low-emissions city car Midsize car (sedan, hatchback, and wagon) Small Multi-Purpose vehicle Joint program for compact MPV for Opel/Vauxhall and a compact CUV for Peugeot GM and PSA say the launch of the first models of this joint venture will happen in 2016. The two also announced the Global Strategic Alliance will establish a new joint purchasing operation, to help lower costs. This is currently on hold while two wait on antitrust regulatory approval. GM says the alliance could save about $2 billion in five years for the companies. Source: GM William Maley is a staff writer for Cheers & Gears. He can be reached at william.maley@cheersandgears.com or you can follow him on twitter at @realmudmonster. Press Release is on Page 2 PSA Peugeot Citroën and General Motors Confirm Key Steps in Global Strategic Alliance Four common vehicle platform development projects Next steps in joint purchasing organization Synergy target of $2 billion annually confirmed DETROIT/ PARIS/ RUSSELSHEIM – PSA Peugeot Citroen and General Motors today confirmed important steps toward the execution of their Global Strategic Alliance. Consistent with terms of the Master Agreement signed Feb. 29, the Alliance partners have selected four vehicle projects and confirmed the next steps in joint purchasing organization. Four Common Vehicle Platform Development Projects The four common vehicle projects selected to move to the next step encompass the following segment entries for both groups: A joint program for a compact-class Multi-Purpose Van for Opel/Vauxhall and a compact-class Crossover Utility Vehicle for the Peugeot brand. A joint Multi-Purpose Vehicle program for the small car segment for Opel/Vauxhall and the Citroen brand. An upgraded low CO2 small car segment platform to feed Opel/Vauxhall’s and PSA’s next generation of cars in Europe and other regions. A joint program for mid-size cars for Opel/Vauxhall and the Peugeot and Citroen brands. The Alliance aims to launch the first vehicles on these common programs by the end of 2016. All four projects will be developed combining the best platform architectures and technologies from the Alliance partners. Next Steps in Joint Purchasing Organization The Alliance partners also confirmed the next steps in their joint purchasing organization. This collaborative effort will draw on the combined purchasing reach of both companies to realize purchasing synergies benefitting both companies. The joint purchasing organization will be subject to customary antitrust approvals. Synergies Confirmed Based on the above programs and the joint purchasing organization, both companies confirm the previously stated synergy target of $2 billion annually achievable within five years. With the common vehicle development projects and next steps in purchasing organization now confirmed, the teams will work to finalize the associated definitive agreements in addition to exploring other cooperation opportunities. View full article
  10. William Maley Staff Writer - CheersandGears.com October 25, 2012 In a not surprising announcement yesterday, General Motors and PSA Peugeot-Citroen said they will be co-developing four new platforms that are part of the Global Strategic Alliance between the two. The platforms will primarily be for Opel/Vauxhall, Peugeot, and Citroën. Those four platforms are, A new low-emissions city car Midsize car (sedan, hatchback, and wagon) Small Multi-Purpose vehicle Joint program for compact MPV for Opel/Vauxhall and a compact CUV for Peugeot GM and PSA say the launch of the first models of this joint venture will happen in 2016. The two also announced the Global Strategic Alliance will establish a new joint purchasing operation, to help lower costs. This is currently on hold while two wait on antitrust regulatory approval. GM says the alliance could save about $2 billion in five years for the companies. Source: GM William Maley is a staff writer for Cheers & Gears. He can be reached at william.maley@cheersandgears.com or you can follow him on twitter at @realmudmonster. Press Release is on Page 2 PSA Peugeot Citroën and General Motors Confirm Key Steps in Global Strategic Alliance Four common vehicle platform development projects Next steps in joint purchasing organization Synergy target of $2 billion annually confirmed DETROIT/ PARIS/ RUSSELSHEIM – PSA Peugeot Citroen and General Motors today confirmed important steps toward the execution of their Global Strategic Alliance. Consistent with terms of the Master Agreement signed Feb. 29, the Alliance partners have selected four vehicle projects and confirmed the next steps in joint purchasing organization. Four Common Vehicle Platform Development Projects The four common vehicle projects selected to move to the next step encompass the following segment entries for both groups: A joint program for a compact-class Multi-Purpose Van for Opel/Vauxhall and a compact-class Crossover Utility Vehicle for the Peugeot brand. A joint Multi-Purpose Vehicle program for the small car segment for Opel/Vauxhall and the Citroen brand. An upgraded low CO2 small car segment platform to feed Opel/Vauxhall’s and PSA’s next generation of cars in Europe and other regions. A joint program for mid-size cars for Opel/Vauxhall and the Peugeot and Citroen brands. The Alliance aims to launch the first vehicles on these common programs by the end of 2016. All four projects will be developed combining the best platform architectures and technologies from the Alliance partners. Next Steps in Joint Purchasing Organization The Alliance partners also confirmed the next steps in their joint purchasing organization. This collaborative effort will draw on the combined purchasing reach of both companies to realize purchasing synergies benefitting both companies. The joint purchasing organization will be subject to customary antitrust approvals. Synergies Confirmed Based on the above programs and the joint purchasing organization, both companies confirm the previously stated synergy target of $2 billion annually achievable within five years. With the common vehicle development projects and next steps in purchasing organization now confirmed, the teams will work to finalize the associated definitive agreements in addition to exploring other cooperation opportunities.
  11. William Maley Staff Writer - CheersandGears.com September 11, 2012 Yesterday, Fiat-Chrysler CEO Sergio Marchionne led a day-long product preview in Las Vegas for Chrysler and Fiat dealers. The preview showed products from Alfa Romeo, Chrysler, Fiat, and Jeep. According to Reuters, Alfa Romeo showed two new models to dealers. Most likely, one of those models was the 4C coupe. The other one could have been a crossover or the new Giulia. Chrysler showed the 100 Subcompact and the new 200. The Wall Street Journal is reporting that Chrysler is spending $2 billion on the next 200, with the expectation to double sales. The new 200 will come with a nine-speed automatic transmission to help improve fuel economy. The Wall Street Journal also reports that Fiat showed the new 500L and a electric version of the 500. Jeep had the biggest showing. Reuters says the brand showed new versions of the Compass, Patriot, and Liberty. The appearance of the Compass and Patriot is a bit of surprise, since previous reports have the Compass going away. A dealer who was at the preview says the three vehicles look more like the Grand Cherokee. The three vehicles will use Fiat platforms. Source: Reuters, The Wall Street Journal (Subscription Required) William Maley is a staff writer for Cheers & Gears. He can be reached at william.maley@cheersandgears.com or you can follow him on twitter at @realmudmonster.
  12. William Maley Staff Writer - CheersandGears.com September 11, 2012 Yesterday, Fiat-Chrysler CEO Sergio Marchionne led a day-long product preview in Las Vegas for Chrysler and Fiat dealers. The preview showed products from Alfa Romeo, Chrysler, Fiat, and Jeep. According to Reuters, Alfa Romeo showed two new models to dealers. Most likely, one of those models was the 4C coupe. The other one could have been a crossover or the new Giulia. Chrysler showed the 100 Subcompact and the new 200. The Wall Street Journal is reporting that Chrysler is spending $2 billion on the next 200, with the expectation to double sales. The new 200 will come with a nine-speed automatic transmission to help improve fuel economy. The Wall Street Journal also reports that Fiat showed the new 500L and a electric version of the 500. Jeep had the biggest showing. Reuters says the brand showed new versions of the Compass, Patriot, and Liberty. The appearance of the Compass and Patriot is a bit of surprise, since previous reports have the Compass going away. A dealer who was at the preview says the three vehicles look more like the Grand Cherokee. The three vehicles will use Fiat platforms. Source: Reuters, The Wall Street Journal (Subscription Required) William Maley is a staff writer for Cheers & Gears. He can be reached at william.maley@cheersandgears.com or you can follow him on twitter at @realmudmonster. View full article

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