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General news updateBack

FTThe Financial Times

Fiat Chrysler set for Alfa Romeo drive – Fiat Chrysler is to announce a big Alfa Romeo investment and map out a global future for Jeep as the group looks to convince investors of its long-term future.

Investors scorn Fiat Chrysler plan – Investors have scoffed at Fiat Chrysler’s five-year turnaround plan – questioning the credibility of chief executive Sergio Marchionne’s goals and how he will manage to pay for them. Shares in Fiat Chrysler fell by as much as 9 per cent yesterday, the day after Mr Marchionne spent 10 hours laying out a plan to double the carmaker’s profit and increase sales by 50 per cent in just five years.

Tesla chief seeks to allay battery fears – Shares in Tesla Motors fell back by 6 per cent in aftermarket trading yesterday as Wall Street grew impatient for clearer evidence that plans for future generations of its electric vehicles and a giant battery plant were on track. The decline came despite a quarterly earnings report that pointed to further steady progress towards hitting the company’s internal goals for its Model S cars.

The Daily Telegraph – Car sales keep on revving as consumer confidence grows – Britain’s love affair with new cars shows no sign of coming to an end, with sales increasing in April for a 26th consecutive month, the longest period of expansion since the late 1980’s. New car registrations increased 8.2pc last month to 176,820 vehicles and sales of 864,942 for the first four months of the year are 12.5pc higher than in the same period last year.

The Independent – Electric car sales speed up as UK plugs in to global trend – 1,200 electric vehicles were sold in the UK last month, compared with just 270 the previous month, whilst 10,200 hybrids have been sold this year, which represents a 45% increase on last year. A spokesperson for the Department for Transport described the uptake as ‘gathering pace’, whilst carmakers are said to expect pure electric cars to account for 2-3% of the market by 2020.

Posted by Sue Robinson on 09/05/2014