Alfa Romeo Sales Plummet in Europe
European demand for sporty cars from Fiat Chrysler Automobile NV’s historic Alfa Romeo brand is drying up.
Sales of Alfa sedans and coupes in the region plunged 42% to 29,100 units in the first half of 2019 and accelerated in July, Automotive News Europe reports.
FCA hoped to revive the struggling Alfa brand in 2014, forecasting that a €5 billion program to launch new models would push the unit’s global sales to 400,000 units by 2018. Only two new models—the Giulia midsize sedan and Stelvio midsize SUV—have been introduced to date, and sales are slumping for both.
Last year, Alfa delivered about 120,000 cars worldwide, buoyed by sales growth in China and the U.S. But now both those markets are shrinking. ANE also notes that July delivers in Italy, France and Spain plummeted 56%, 66% and 70%, respectively.
For conducting business in the U.S. market, Toyota has historically had several separate business entities: a sales and distribution company headquartered in California (Toyota Motor Sales, USA); manufacturing operations (Toyota Motor Manufacturing North America); a racing subsidiary (Toyota Racing Development, USA); the Toyota Technical Center for R&D in Ann Arbor; and a design facility in California (Calty Design Research, Inc.). On April 1, 2006, Toyota merged its R&D operations and its manufacturing operations into a single company.
Chinese electric-car startup Nio Inc. is forming a manufacturing joint venture with Beijing E-Town International Investment and Development Co., which is investing 10 billion yuan ($1.5 billion) in the business.
Delegates to the United Auto Workers union’s annual convention in Detroit have overwhelmingly approved a 31% raise for their salaried international leaders.