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Austrian Automotive Industry Headlines

Expansion and Upgrades Planned at Magna Steyr

Expansion and upgrades are planned at Magna Steyr in Graz. By the start of new orders from BMW and Jaguar Land Rover in 2017 the expansion of production facilities should be ready the company announced. Thanks to the extension of the contract with Daimler for the construction of Mercedes G-Class, from 2018 about 200,000 units will be built every year.

5 hours ago

Viennese Underground Deal: Siemens, Bombardier Complete Bids

The race for the latest huge deal awarded by Viennese public transport operator Wiener Linien, i.e. for the supply of 45 underground railway trains, is nearing an important deadline. On Friday the companies participating in the tender, among them chief competitors Siemens and Bombardier, will submit their final bids.

April 26, 2016

Magna Automotive Buys German Firm Telemotive

Canadian car component maker Magna International will take over a company in Germany for an undisclosed price. The German subsidiary of the Magna group founded by Frank Stronach will acquire Telemotive AG from Mühlhausen, which produces electronics for vehicles and has some 600 employees.

April 25, 2016

Apple Might Have iCar Built in Graz

The computer giant Apple is working on an electric car and to that end the company has established a concept group of 1520 experts in Berlin. The new ‘iCar’ is to be built in Austria, Frankfurter Allgemeine Zeitung (FAZ) alleges, indicating the Magna plant in Graz as the prospective contractor.

April 18, 2016

Polytec Recorded Better Results than Expected in 2015

The listed Upper-Austrian car component maker Polytec last year recorded better results than expected. Operating profit (EBIT) grew from EUR 20.6 million to EUR 36.6 million and net profit climbed from EUR 13.6 million to EUR 23.7 million Polytec announced.

April 5, 2016

Polytec Automotive Seen Raising 2015 Net Profit to EUR 22.8 Mln

Listed car components maker Polytec will likely post EUR 22.8 million (USD 25.9 million) attributable net profit for 2015, up by a heady 67 percent y/y, shows the consensus of analysts ahead of the release of the annual figures slated for April 5.

April 4, 2016

Porsche Bank Increased Number of Leasing Contracts

Porsche Bank increased the number of leasing contracts in Austria by 6.6 percent to 133,471 in 2015, growing at a much faster rate than the market (+2.7 percent). The bank holds 26.7 percent share on the Austrian leasing market which makes it a clear leader, CEO Hannes Maurer boasted. The bank provided neither income, nor earnings figures. Balance sheet total in Austria stood at EUR 3 billion last year.

March 31, 2016

KTM with New Record for 5th Time in a Row

Cooperation with the Indian motorcycle producer Bajaj has allowed the Upper Austrian motorcycle producer KTM to achieve record-breaking performance in the past 5 years. Sales doubled from 2011 to 2015 from EUR 527 million to EUR 1.02 billion. Over the same period after-tax profit increased from EUR 21 million (USD 23.8 million) to EUR 64 million and the number of employees increased from 1,755 to 2,515.

March 31, 2016

Fuel Prices Rise Before Easter, But Still Cheaper Y/Y

Automobile club ÖAMTC expects fuel prices to rise before Easter, by about EUR 0.015 per litre, although this change is not enough to bring the price close to last year’s. Fuel is still cheaper than in 2014 around the same time.

March 23, 2016

Porsche Holding Salzburg Revenue Climbs to Record EUR 18.8 Billion

Porsche Holding Salzburg (PHS) posted record results in 2015: consolidated revenue soared by 10.2 percent y/y to EUR 18.8 billion (USD 20.85 billion), whereas the wholesale and retail sales volume climbed 6.9 percent to 927,393 vehicles (used and new).

March 17, 2016