All tagged automotive

Opel Helps France's PSA Buck China, Iran Auto Downturn

◢ French auto giant Groupe PSA, which makes the Citroen and Peugeot brands, reported record vehicle sales Tuesday as the acquisition of General Motors' Opel unit helped offset a sharp downturn in key markets China and Iran. PSA sold 3.88 million vehicles, up 6.8 percent from 2017 when it acquired the Opel business which includes British-based Vauxhall.

Iran Students in Rare Protest Over Deadly Campus Bus Crash

◢ Hundreds of Iranian students held protests for a second day on Sunday, calling for university officials to resign over a bus crash that killed 10, state news agency IRNA said. The demonstrating students reportedly carried photos of victims of Tuesday's crash at a square leading to the university, in a rare display of dissent at Tehran's Islamic Azad University.

Volkswagen Won't Confirm Claim it Will Quit Iran

◢ Car giant Volkswagen declined Thursday to confirm a claim by American ambassador to Germany Richard Grenell that it would stop doing business in Iran. Grenell—known for stirring up controversy in his host country with public sallies on business and politics—told Bloomberg News VW would wind up most business with Iran after weeks of talks with President Donald Trump's administration.

Daimler Says Halting Iran Activities Over US Sanctions

◢ German automaker Daimler on Tuesday said it was halting its business activities in Iran after the United States re-imposed sanctions on Tehran. "We have suspended our already limited activities in Iran in accordance with the applicable sanctions," a spokeswoman said in a statement sent to AFP, adding that Daimler was closely monitoring political developments.

Renault to Stay in Iran Despite US Sanctions: CEO

◢ French carmaker Renault will maintain its presence in Iran while taking measures to avoid the risk of penalties for breaching renewed US sanctions, CEO Carlos Ghosn said Friday. "We will not abandon it, even if we have to downsize very strongly," he said at the annual shareholders' meeting in Paris.

French Carmaker PSA Says to Exit Iran Over US Sanction Risk

◢ France's PSA said Monday that it would pull out of two joint ventures to sell its cars in Iran to avoid the risk of US sanctions after Washington decided to withdraw from a key nuclear deal with Tehran. "The group has begun to suspend its joint venture activities, in order to comply with US law by August 6, 2018," the automaker said in a statement.