Latest Automotive News

Fiat Share Prices Fall as European Banks Become More Weary

 
The CEO of Fiat, Sergio Marchionne had recently announced that he was interested in acquiring the rest of Chrysler, and completely merge the two companies. However, this ‘announcement’ has made two European banks become more weary of the situation, and so, they`ve downgraded Fiat’s stock.

One bank, UBS AG, is changing the status of the company’s stock from a ‘buy’ rating, to a ‘neutral’ rating, while Deutsche Bank changed the stocks’ status from ‘hold’ to ‘sell. Now, as Chrysler is currently much more profitable than Fiat, and dragging it along for the ride, Marchionne is undoubtedly keen to get more of the profits of the American market, which is working much better than the one in Euope, and will do so for at least another two or three years, according to analysts.

Also, this past Tuesday, Fiat shares fell by 5.9%, the event which prompted the two aforementioned banks to react. They still need somewhere in the eregion of 1.6-billion to 2.9-billion euros to get the rest of Chrysler, yet it is highly doubtful that they actually have that much money to spend, given the current situation.

Story via detroitnews.com
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Buick May Get New Logo


Automaker logos, while they may be very important for a company’s tradition and historic value are often changed nowadays, to go along with some sort of ‘refresh’ of the range, or just to keep them looking fresh and modern, while still keeping the essence intact.

After having finished their comprehensive model overhaul of Buick, General Motors may also be changing the logo, as well. The Detroit Free Press says that GM’s North America President, Mark Reuss suggested that the three-shield logo would be altered, yet did not offer any details on how they would go about doing this.

If you take a look at what Peugeot and Citroen have done with their logos, you can kind of get an idea what Buick might do with theirs – it will be rounded off, stylized and just made to look more modern, in order to better match the brand’s newly-polished image.
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Honda Civic 1.6 Diesel Gets Its First Fleet Sale in UK

Honda Civic 1.6 Diesel Gets Its First Fleet Sale in UK
Just a few days after the official launch of production in Swindon, Honda has secured the first local fleet sale for the car from Co’dair Group, an Essex-based design and publicity agency, which has ordered 18 of the cars, replacing its entire fleet.

The new 1.6-liter turbo diesel was built from the ground up with the European market in mind. It produces 120 PS and 300 Nm of torque at 2,000rpm, emitting only 94 grams per kilometer of CO2, ideal for fleet use.

John Dedross, Managing Director of The Co’dair Group, commented: “Part of our decision-making process was the need to engage with a supplier which not only understands how its vehicles fit into our business now, but also how we plan for the future.”

He added; “We have always demanded a lot from our vehicles and suppliers. Honda has the strength and depth to meet our requirements. By selecting the 1.6-litre diesel engine we have reduced our drivers’ Benefit In Kind taxation, fuel costs and service and maintenance budget.”
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