Summit Notebook

Reports of the death of the car industry are premature-Valeo

November 3, 2009

A glimmer of light in a world of darkness for stressed-out car industry managers. Jacques Aschenbroich (pronounce Ashenbrough), the new CEO at French car supplier Valeo has been visiting the Frankfurt and Tokyo motorshows, as well as travelling to places such as China.

AUDIO – The ‘new normal’ for the U.S. auto industry

November 2, 2009

A few years ago, one of the guests at our annual Reuters Autos Summit — Tom Stallkamp from Ripplewood — pretty much stopped everyone dead in their tracks by predicting that auto sales in the United States was likely to fall to an obscenely low level of 14.5 million.

BMW keeping wary eye on rivals

November 2, 2009

After a year of unprecedented turmoil in the auto industry, BMW’s U.S. head smells blood in the water.

Sticks and Stones

November 2, 2009

When General Motors rolled out its new “May the Best Car Win” ad campaign this fall, it turned its competitive fire on Toyota Motor Corp, rather than one of its Detroit competitors. 
Toyota, which last year displaced GM as the world’s largest carmarker, takes the ads — which compare the Chevy Malibu with the Toyota Camry — as something of a compliment. 
“When Ford names Toyota and not Chevrolet and when Chevrolet names Toyota and not Ford, that speaks to some consumers about our position in the market,” Toyota group vice president and general manager Bob Carter told the Reuters Autos Summit in Detroit. “So it’s not all bad.” 
But the Japanese automaker has no interest in getting drawn into an advertising tit-for-tat similar to Apple Inc’s “Get a Mac” ads, which compare a young, hip actor representing a Macintosh computer with a dowdy middle aged actor playing a PC run by Microsoft’s Windows operating system. 
“We think the most effective way to approach the market is to talk about our products and our brands,” Carter said.

Video – Busy week ahead for auto sector

November 2, 2009

The first week of November may provide more clues about the health of the U.S. auto industry.

Peugeot is far too small in China

November 2, 2009

There is only one market really booming in the world and that is China, pity Peugeot only has a very small market share there.

Renault is too complex, COO says

November 2, 2009

One of the big challenges for French carmaker Renault, which ranks third in the world with Japanese partner Nissan and Russian ally AvtoVAZ, is that it is too complex, chief operating officer Patrick Pelata told the Reuters Automotive Summit.

Corning CFO and the economist who predicted 8 of the past 4 recessions

May 20, 2009

When this is recession number seven for you, the state of the economy begins to drop into perspective — even if the pain is still real.

Europe has not seen nothing yet in carmarket slowdown-Fitch

September 30, 2008

Standby for more trouble ahead in west European car markets. Emmanuel Bulle of credit rating agency Fitch told the Reuters Auto Summit in Paris that sales in West Europe were down only 5 percent from their peak while historically the downturn went to minus 20 percent.
“The slowdown in France started only 6 months ago and we won’t see a real downturn until 2009,” he noted, while the German market seemed more resilient but that was based on a relatively negative performance in 2007. Spain is falling on property worries which have led customers to postpone buying a car.

Retail sales of new cars in the U.S.

September 19, 2008

Domestic new car sales declined to 4.41 million units in August 2008 from 5.05 million units a year ago. Monthly imports of new cars have remained more or less stable. – Datastream and Thomson Reuters Proprietary Research