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Carmakers bank on clean and small
Source: Agencies |
September 14, 2011, Wednesday
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The world's carmakers sought to look past economic worries in Europe and the United States at the Frankfurt auto show yesterday, with many betting on cleaner, smaller, high-mileage vehicles aimed at evolving consumer tastes.
The industry, which suffered through the recession caused by the 2007-2009 financial crisis, has been riding the global recovery but now is looking at shakier prospects amid Europe's debt crisis and worries about the US economy.
Some executives want a firmer response from Europe on its government debt woes. Fiat and Chrysler CEO Sergio Marchionne urged German Chancellor Angela Merkel, who opens the show to the public tomorrow, to step up efforts to solve the crisis.
"I think she needs to be part of a permanent solution to this problem," Marchione said on the sidelines of a Fiat presentation, referring to the leader of the European Union's economic engine. "She needs to force a fundamental change in the system."
Fears of possible government debt defaults, starting from bailed-out Greece, are threatening to engulf Fiat's key market of Italy and are sapping consumer confidence. Auto sales there are seen at 1.8 million this year, the lowest level since 1983.
Still, this year's 64th International Motor Show is more cheerful than its 2009 predecessor, which took place during the recession. Organizers say 1,007 exhibitors have signed up - up from 781 last time, and German carmakers including BMW, Daimler, Volkswagen and Porsche have put up strong recent profits - thanks in part to rising sales in fast-growing emerging markets.
The confidence of the home carmakers showed in a lavish display of Daimler's Mercedes-Benz and smart lines, with CEO Dieter Zetsche saying that no matter the "turbulence on the Frankfurt stock exchange" in recent days, "all lights are green" at the company.
Lighter material, electric-powered engines and tiny, fuel efficient cars styled for city driving are among innovations on display: iconic luxury brand Rolls-Royce presented its electric experimental car, the 102EX, while sports carmaker Aston-Martin rolled out its pint-sized Cygnet "commuter" car.
Fiat has a new, slightly longer version of its Panda small car that has sold 6 million since 1980 while Toyota offers a Prius plug-in hybrid version. Daimler AG's smart brand has a two-seater electric version.
The industry, which suffered through the recession caused by the 2007-2009 financial crisis, has been riding the global recovery but now is looking at shakier prospects amid Europe's debt crisis and worries about the US economy.
Some executives want a firmer response from Europe on its government debt woes. Fiat and Chrysler CEO Sergio Marchionne urged German Chancellor Angela Merkel, who opens the show to the public tomorrow, to step up efforts to solve the crisis.
"I think she needs to be part of a permanent solution to this problem," Marchione said on the sidelines of a Fiat presentation, referring to the leader of the European Union's economic engine. "She needs to force a fundamental change in the system."
Fears of possible government debt defaults, starting from bailed-out Greece, are threatening to engulf Fiat's key market of Italy and are sapping consumer confidence. Auto sales there are seen at 1.8 million this year, the lowest level since 1983.
Still, this year's 64th International Motor Show is more cheerful than its 2009 predecessor, which took place during the recession. Organizers say 1,007 exhibitors have signed up - up from 781 last time, and German carmakers including BMW, Daimler, Volkswagen and Porsche have put up strong recent profits - thanks in part to rising sales in fast-growing emerging markets.
The confidence of the home carmakers showed in a lavish display of Daimler's Mercedes-Benz and smart lines, with CEO Dieter Zetsche saying that no matter the "turbulence on the Frankfurt stock exchange" in recent days, "all lights are green" at the company.
Lighter material, electric-powered engines and tiny, fuel efficient cars styled for city driving are among innovations on display: iconic luxury brand Rolls-Royce presented its electric experimental car, the 102EX, while sports carmaker Aston-Martin rolled out its pint-sized Cygnet "commuter" car.
Fiat has a new, slightly longer version of its Panda small car that has sold 6 million since 1980 while Toyota offers a Prius plug-in hybrid version. Daimler AG's smart brand has a two-seater electric version.
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