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Carlos Ghosn's automaker mantra: Go big or you'll go away
Tue, 25 May 2010Size matters in auto company survival, Renault and Nissan CEO Carlos Ghosn told an audience in Detroit on Tuesday. To cope with the escalating costs and scope of a global industry, successful automakers must complete a trifecta--be able to compete in every technology, every market and every segment, Ghosn said during a luncheon speech at the Detroit Economic Club “No 3 million-unit carmaker can make it,” Ghosn said, explaining why his Renault-Nissan alliance forged an alliance with Germany's Daimler AG. Competency in one or two of the three skills is not enough, and only very large companies can afford all three, he said.
News watch October 2012: today's industry news
Wed, 31 Oct 2012Welcome to CAR Magazine's news aggregator as we round up the daily stories in the auto industry. Top tip: news summaries are added from the top hour-by-hou Wednesday 31 October 2012• It's emerged GM's European 2012 earnings are down nearly half a billion dollars in Europe, where it now expects to lose $1.5bn to $1.8bn before interest and taxes for the full year (DetNews)• Ford has posted a third-quarter net profit of $1.63bn (£101bn) - almost matching its eventual profit total for the entire year 2011. Despite painful losses in Europe (Ford expects to lose $1bn in Europe alone this year) a resurgent North American market has buoyed Fords sales even higher than previous forecasts (Automotive News Europe)• Fiat CEO Sergio Marchionne has weighed in against Republican presedential nominee Mitt Romney, who argued that a move towards Chinese production would harm American jobs.
Vettel and Webber make it a 1-2 for Red Bull in China
Sun, 19 Apr 2009Red Bull's Vettel and Webber celebrate their 1-2 in Shanghai [ad#ad-1] This is the most topsy-turvy start to a Grand Prix season in many a year. First we have a rookie team – Brawn GP, which didn’t even exist a few weeks ago – taking the lead and winning the first two races of the season. And now, in Shanghai at the Chinese Grand Prix, Red Bull has achieved its first ever F1 win with a stunning 1-2 by drivers Sebastian Vettel and Mark Webber After two days of high temperatures and sunshine the Shanghai Grand Prix set off in a procession behind the safety car in torrential rain, and stayed that way for the first eight laps.