FRANKFURT: Opening the world’s biggest car show — the Frankfurt International Motor Show (IAA) on Tuesday with raft of optimistic reports on improved earnings and greater fuel efficiency, executives from carmakers around the world were bubbling with confidence about their greener fleets and fatter profits. Rather than being rattled about increased pressure to lower the carbon dioxide (CO2) emissions believed responsible for climate change, automakers went on the offensive at the start of the show that a million visitors are set to see by Sept. 23. Here’ what the auto executives Fiat had to deliver to the thousands of journalists staked out in the cavernous halls of the trade fair’s grounds.
Fuel-cell Mercedes: Mercedes-Benz will begin serial production within three years of a small car powered by a hydrogen fuel cell, the carmaker said in a statement at the Frankfurt International Motor Show. DaimlerChrysler CEO Dieter Zetsche also brought good news, saying chances for a dividend increase were good.
Mazda to meet profit forecasts: Mazda Motor Corp. is on track to meet its half-year and full-year profit forecasts despite a recent strengthening in the yen, Executive Vice President Robert Graziano told Reuters in an interview at the Frankfurt International Motor Show.
Toyota sees European sales up 5%: Despite the encouraging sales figures comeing from the Eurpean continent the company president Katsuaki Watanabe said he expected a slight decline in the U.S. auto market in 2007 to around 16.3 million units.
Fiat to increase mark share: Fiat expects to increase the Italian market share for its Fiat brand in 2007, Luca De Meo, head of Fiat’s car brand said.
Volkswagen sees more sales: Head of Volkswagen’s premium Audi unit, Rupert Stadler, confirmed higher sales and profit this year.
GM watching US market: General Motors Corp’s Chief Executive Rick Wagoner said GM was watching the downturn in the U.S. housing market closely, despite the rising unit sales in Europe.
BMW working on carbon emissions: BMW Chief Executive Norbert Reithofer told reporters that the company was working on CO2 emissions after presenting a new sport activity vehicle (SAV) with a hybrid engine that will be in showrooms in 2009.
Honda Europe sales to surge: Honda Motor Co expects to sell 370,000 cars in Europe this year, up 20 percent from 2006 and above a previous forecast of 350,000 units, said Honda Motor Europe President Shigeru Takagi.
Schumacher launches new Ferrari: Seven-times Formula-One world champion Michael Schumacher helped launch Ferrari’s new 430 Scuderia car at the IAA, saying he had been involved with development and intensive road testing. reuters