If you’re a mega corporation, one of the most annoying things about employees is that they expect to be paid for their work and as if that’s not enough, they also tend to draw a parallel between the performance of the company and what their labor is worth.
Now that we’re almost halfway through 2013, markets are beginning to shift into gear for the 2014 season — particularly auto manufacturers, who begin the launches of their 2014 model lines towards the end of 2013.
The auto industry and investors are still trying to gauge the fallout from Dieselgate — the scandal that erupted last week after an admission from Volkswagen that it had been cheating on emissions tests by rigging software in its diesel vehicles. VW stock is down more than 23 per cent since last Monday — not surprisingly, as the problem affects more than 10 million cars and will probably cost the company several billions to fix.
That’s just the mid-term impact; it will be a long time before we can rightly judge the long-term damage Volkswagen’s lies have done to its brand.
The big auto makers are announcing their December sales stats. Chrysler just reported that sales climbed 5.7% to 161,007 units. This missed analysts expectation for an 8.4% gain. Analysts predict total sales came in at an annualized pace of 16.00 million units, down from 16.31 million in November.
LONDON — Europe’s enduring economic slump has left its auto industry hurting with sagging sales forcing prices down and inventory up, even after thousands of factory jobs have been cut.
Mid-level manufacturers such as Renault and Fiat are struggling, with PSA Peugeot Citroën in February reporting a record 2012 loss of $6.5 billion. Higher-end companies are, however, faring somewhat better.