The latest automobile and automotive industry and company news and analysis from FriedlNews
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Austrian Automotive Industry Headlines

Iran Could be Interesting Market for Austrian Automotive Suppliers

According to Siegfried Wolf, ex had of ÖIAG and CEO of Russian Machines, the Iran would be an interesting market for the automotive supplier industry, once sanctions get lifted. He noted in an interview for WirtschaftsBlatt (Monday issue) that the market was estimated at about 2 million cars and it has been stagnating for 15-20 years.

August 31, 2015

UIAG Plans Further Investments

The Upper-Austrian investment company Unternehmens Invest AG (UIAG) wants to carry out further acquisitions. UIAG is specialized in SME's and holds stakes in the following companies: Pongratz Trailer-Group GmbH (99 percent), All for One Steeb AG (25.1 percent), LCS Holding GmbH (30 percent) and UIAG Automotive Beteiligungs GmbH (100 percent) as well as UIAG Holding GmbH (100 percent) for investment management.

August 28, 2015

Miba One Step Closer to Delisting

Automotive supplier Miba may be still listed at Vienna Stock Exchange, but the company is moving closer to the planned squeeze-out and delisting. One third of the minority holdings were covered by the call for shares, here the offered price was EUR 550 (USD 619.377) per share.

August 21, 2015

Magna Steyr Automotive Doubles 2014 Profit on Stable Revenues

Canadian automotive group Magna's Austrian unit Magna Steyr raised 2014 net profit to EUR 103.4 million (USD 115.2 million), a heavy increase on EUR 50.6 million in 2013, the company said in the statements published in the official gazette of the daily Wiener Zeitung.

August 21, 2015

Cross Industries Stock Soars Further

Listed automotive firm Cross Industries is continuing headvy gains on Monday, having risen by a whopping 53 percent in the previous week. The rally has no obvious reasons, investor association IVA head Wilhelm Rasinger told APA.

August 10, 2015

Building Machine Producer Wacker Neuson Books Record Results

Thanks to the weak Euro and a good development of business in America the German-Austrian building machine producer Wacker Neuson booked record-high results for the first half of the year. Sales increased year to year by 14 percent to EUR 706 million Wacker announced.

August 4, 2015

Jaguar Land Rover Signs Deal to Manufacture Cars in Austria

Tata Motors-owned luxury carmaker Jaguar Land Rover (JLR) said it has signed a contract manufacturing agreement with Austrian automotive firm Magna Steyr in another step to enhance its worldwide production line and build global footprint.

July 29, 2015

Doppelmayr to Build Funicular Route in Bogota

Vorarlberg-based cable-railway maker Doppelmayr has secured a deal for the construction of a EUR 9.4 million funicular in Colombian capital Bogota. The contract was signed last week, Doppelmayr disclosed. The funicular will be part of the city’s public transport system.

July 20, 2015

KTM Motorcycle Manufacturer Raises Operating Profit and Revenues in H1

Listed motorcycle manufacturer KTM nearly doubled its operating profit in H1 2015 to EUR 50.3 million (+49.7 percent y/y) on revenues surging 25.5 percent to EUR 515.1 million (USD 561.8 million), the company said in a concise statement.

July 17, 2015

Used Car Registrations Surge by 11.8 Pct Y/Y in June, Slip in H1

Austrian used car registrations surged by 11.8 percent y/y in June to 95,542, stats office Statistik Austria said. Passenger car registrations accounted for 73,883 of the total, up 12.3 percent y/y.

July 16, 2015