European Equity Preview
In Bloomberg: Stocks rise and fall and for the European markets the trend is just the same.
DaimlerChrysler AG, world’s second-biggest maker of luxury cars said that January was a good month for them since their US auto sales increased by 3.2% led by gains at its Mercedes-Benz luxury unit. The automaker was able to sell 173,377 cars and trucks. Sales of Mercedes-Benz increased by 37% while the Chrysler unit gain 0.5% increase in its shares. There is an added 58 cents or 1.2% to 48.24 euros.
Fiat SpA, the January sales of the Italy’s largest carmaker rose by 5.6%. The company increased its share of the Italian market to 31.4% from 30.7% a year earlier. The stock gained 34.4 cents or 2.1% to 17 euros considered to be the highest increased since December 2001.
LVMH Moet Loius Vuitton SA, owner of luxury brands that includes Loius Vuitton luggage and now the proud owner of Ford Motor Co.’s Aston Martin sports car unit, said that their shares gained 25 cents or 0.3% to 81.15 euros.
MAN AG, Europe’s third-largest truckmaker said that they are in support of Chief Executive Hakan Samuelsson in its pursuit for friendly talks to combine Swedish rival Scania AB and Volkswagen AG’s Brazilian heavy truck unit. The shares increased 97 cents or 1.2% to 81.69 euros.
Porsche AG, world’s most profitable carmaker said that its North American sales last month has experienced a 7% decline as demand for Cayenne sports utility vehicle dropped ahead of the introduction of a new version. But despite that the automaker has gain increased in shares by 7.33 euros or 0.8% to 976.67 euros.
Volkswagen AG, Europe’s largest carmaker and ranked fourth as the world’s largest automaker along with General Motors, Toyota and Ford has experienced remarkable sales in January with 2.3% increase as the new Eos convertible attracted customers. The company’s luxury car subsidiary Audi also records an increase in its US sales by 5.2% due to the growing demand for the new Q7 sport-utility vehicle. Volkswagen shares climbed 11 cents or 0.1% to 85.62 euros. Volkswagen is renowned for its top-of-the-line automobiles and quality auto parts like Volkswagen Fan Blade.
About the Author: Growing up with three brothers, Natalie Anderson became exposed early to the world of automobiles. This 29-year-old account manager now dreams of having her very own top-of-the-line vintage car.