Since the start of trading today, the Continental AG share has again been listed in the top Deutsche Börse segment, having returned to the list of top German companies after an absence of almost four years. The company is the first to succeed in being promoted back to the DAX 30 twice.
Some financial analysts have stated their faith in Continental AG’s continuing strong financial performance ahead of the company’s third quarter results.
Upgrading their estimates for the company’s shares performance, Morgan Stanley market watchers said they predict “10 per cent upside to 2012 consensus and circa 20 per cent in 2013-2014,” continuing: “We think valuation and third quarter catalyst make Continental the most attractive investment in the auto industry.”
Guglielmo Fiocchi has left Pirelli for another Italian automotive supplier, Sogefi SpA, which has appointed him as general manager of the company. Fiocchi, who is 49, graduated in aeronautical engineering from the Milan Politecnico and brings long term experience in the automotive component sector.
Almost four years after being shown the door at the DAX 30, Germany’s Continental AG is set to re-enter the exclusive group of the 30 major German companies trading on the Frankfurt Stock Exchange. Stock exchange operator Deutsche Börse announced Conti’s return to the DAX 30 on the evening of 5 September.
Firestone is a car company. This is the message at the heart of Bridgestone America’s new brand campaign. Titled “Drive a Firestone”, the campaign hinges on the notion that, while it doesn’t actually produce cars, Firestone is indeed a car company. The tyre maker’s message is that regardless what a motorist drives, Firestone tyres and the service its retailers provide can help make their car run stronger, longer.
Last year’s IAA show in Frankfurt, Germany drew tens of thousands to view the latest cars and automotive technology. This year the IAA focuses on commercial vehicles, and at the 2012 exhibition – which takes place in Hannover between 20 and 27 September – several leading tyre makers will show off their latest products and developments. At Hankook’s exhibition space, in Hall 16, Stand A30, the Korean manufacturer will hold the world premiere for the latest additions to its ‘e-cube’ concept. These new products, says Hankook, take “into account the current spirit of the times” and thus the range has “correspondingly been developed further in regard to the increasing demands in the area of environmental friendliness.”
Automotive industry charity BEN, in conjunction with the British Motor Industry Heritage Trust is hosting the second of two annual car boot sales on Sunday 23 September 2012 at Heritage Motor Centre, Banbury Road, Gaydon, Warwickshire.
The 'Boot 4 BEN' will not only have the usual car boot stalls but also will be joined by Auto-Jumble stalls that sell specialist automotive parts and spares, along with automotive collectables.
Former Sibur-Russian Tyres CEO Vadim Gurinov has been appointed president of Russian engineering construction company Stroytransgaz, replacing Sergey Makarov following the latter’s resignation. Gurinov, who was elected to the post on 22 August, is a member of Stroytransgaz’s Board of Directors and continues to hold the post of chairman of tyre maker JSC Cordiant’s Board of Directors.
A team from KYB, the supplier of shock absorbers, coil springs and suspension mounting kits, completed the Three Peaks in 24 Hours Challenge, raising the outstanding amount of £2,000 for BEN, the automotive charity.
The inaugural plant manager of Continental’s still under construction Sumter plant in the US has been named. South African Craig Baartman, a 18-year Conti veteran, will be responsible for the factory’s overall leadership of the facility which, according to Continental Tire the Americas’ CEO Jochen Etzel, is scheduled to open in late 2013.
The British passenger vehicle market was the only car parc in Europe to increase registrations in July. According to analysis produced by Jato Dynamics, Europe’s new car sales declined by 8.2 per cent in July, and 4.9 per cent year-to-date compared to last year. Great Britain grew 3.5 per cent. Meanwhile Italy and Spain recorded the greatest drops in July unit sales. Volkswagen’s Golf maintained its position as Europe’s top performing model.
CES (UK) Ltd, one of the country’s leading distributors of car parts, has announced that it has accepted “significant investment” in order to accelerate plans to expand its current network and further strengthen its position in the UK automotive aftermarket. Founders Howard Warren and Charles Colton will continue to support the CES strategy for growth whilst, the existing board of directors, led by managing director Steve McCann, will continue to manage the company operations.
CES (UK) has announced new investment in order to expand more rapidly. According to the companies involved, this strategic move will “accelerate plans to increase The Parts Alliance network and further strengthen [its] position in the UK automotive aftermarket.” CES (UK) remains a key member of The Parts Alliance.
MG Motor UK is doubling the size of the design centre. According to the company, the latest stage of the rebirth of Longbridge will see substantial investments in the design studio, the engine test centre and the factory. Meanwhile, the firm is recruiting new engineers and designers to work on the next generation of MG cars as the firm prepares to hit the export trail to mainland Europe within two years.
New '62-plate' vehicles will arrive in dealerships during the next few weeks as the automotive sector prepares for one of its busiest times of the year. Industry body the Society of Motor Manufacturers and Traders (SMMT) expects around 330,000 new cars to be registered during September, with motorists spending in the region of £4.95 billion on the latest new vehicles.
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