Car sales in Germany rose 4 percent in October, extending the increase seen so far this year in Europe’s largest auto market despite a weakening domestic economy.
Registrations increased to 275,320 cars last month, driven up by demand for sport-utility vehicles and premium models, with Chrysler’s Jeep and Porsche among the top-performing brands, Germany’s Federal Motor Transport Authority (KBA) said on Tuesday.
Audi has knocked down speculation about a possible Formula One entry in 2016 after recruiting former Ferrari team principal Stefano Domenicali to an unspecified role.
French supplier Faurecia named a new second-in-command to CEO Yann Delabriere, one of a number of senior appointments announced by the company.
Fiat Chrysler Automobiles CEO Sergio Marchionne made about €10.7 million ($13.4 million) from a surge in the automaker’s share price after he announced a plan to spin off Ferrari.
Marchionne exercised options for 6.25 million Fiat Chrysler shares on Oct. 30 and sold that amount of shares by Oct. 31. He did the same for an equal amount of stock in CNH Industrial NV, the truck and tractor maker that was previously part of the Fiat group.
Chrysler Group LLC’s third-quarter net profit rose 32 percent as worldwide sales continued to climb, helping the U.S. company prop up its ailing parent. Chrysler made $611 million in the July-through-September quarter, compared with $464 million a year ago. Revenue rose nearly 18 percent to $20.7 billion.
