Tuesday, August 19, 2008
Carmakers axe new launch plans
Credit crunch hits the launch of new products
Economic constraints are forcing carmakers to cut back on plans to launch new models.
Renault, BMW and Vauxhall are among those to have delayed introducing new products to market because of the credit crunch, according to Automotive News Europe.
It claimed Renault had axed plans to build a Megane-based crossover and delayed work on a replacement for the Espace MPV and a new flagship to replace the Vel Satis.
General Motors Europe has paused plans to introduce a range topping Opel/Vauxhall model and is reconsidering the production of a small SUV and BMW has reportedly dropped plans to launch its Range Rover rival, the X7 SUV.
Speculation has also surfaced that Volvo has shelved plans to extend its C30 line-up.The production slowdown is in sharp contrast to the trend in recent years when record numbers of new models have come to market.
Eurotaxglass’s said the number of model derivatives available in the UK increased from 4,000 to 7,000 between 2000 to 2008.
New car launches are crucial to manufacturers in driving up sales. Toyota has blamed a lack of new product for a fall in its sales in Europe this year.
In the UK the brand’s new sales were down 7 per cent to 69,000 in the year to the end of July.
DATED: 19.08.08
FEED: MT
Economic constraints are forcing carmakers to cut back on plans to launch new models.
Renault, BMW and Vauxhall are among those to have delayed introducing new products to market because of the credit crunch, according to Automotive News Europe.
It claimed Renault had axed plans to build a Megane-based crossover and delayed work on a replacement for the Espace MPV and a new flagship to replace the Vel Satis.
General Motors Europe has paused plans to introduce a range topping Opel/Vauxhall model and is reconsidering the production of a small SUV and BMW has reportedly dropped plans to launch its Range Rover rival, the X7 SUV.
Speculation has also surfaced that Volvo has shelved plans to extend its C30 line-up.The production slowdown is in sharp contrast to the trend in recent years when record numbers of new models have come to market.
Eurotaxglass’s said the number of model derivatives available in the UK increased from 4,000 to 7,000 between 2000 to 2008.
New car launches are crucial to manufacturers in driving up sales. Toyota has blamed a lack of new product for a fall in its sales in Europe this year.
In the UK the brand’s new sales were down 7 per cent to 69,000 in the year to the end of July.
DATED: 19.08.08
FEED: MT
