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...VW is balancing falling sales in China with a desire to increase its presence in the US at a time of growing political tension between the two countries....
...The world’s largest maker of artillery ammunition on Thursday said 2024 sales were expected to reach a record €10bn, compared with €7.2bn the previous year....
...Vuba has stepped up exports to the US, which Scott expects will make up just under a third of the roughly €28mn in sales that the company is targeting this year....
...The world’s largest maker of artillery ammunition on Thursday said 2024 sales were expected to reach a record €10bn, compared with the €7.2bn it booked in 2023....
...Sales and profits tumbled at BASF last year, as the world’s biggest chemicals group struggled with high energy prices and a slowdown in global demand....
...Thyssenkrupp said on Wednesday that it expected sales of €37.5bn in 2024, roughly the same as last year. It had previously forecast a slight increase....
...The carmaker last year warned that luxury brands were not immune to subdued spending by consumers, as it flagged that it would continue trying to sell more expensive cars in China amid lower sales....
...It said on Wednesday that EV sales in 2023 made up 8.3 per cent of its total, amid cooling demand in recent months....
...Thyssenkrupp has cut its full-year sales and profit guidance as Germany’s largest steelmaker warned of slowing European demand from carmakers....
...The company said the decrease was due to “sales-related lower margins”, which could “not be offset” by cost reductions....
...BASF outlined the new cost cuts in annual results, which confirmed a decline in sales and profits set out in preliminary earnings....
...Although Renk’s military business accounts for roughly 70 per cent of sales it has said it is well positioned to benefit from the German industry’s efforts to transition away from fossil fuels....
...However, the probe has faced a backlash from German carmakers that are reliant on China for a significant portion of their sales and profits....
...German sales of electric vehicles fell 16 per cent in 2023, according to the country’s car industry lobby group VDA, which has forecast sales of battery-powered cars to drop a further 9 per cent in 2024....
...BASF is to accelerate the sale of its stakes in two plants in Xinjiang, following “serious allegations” of human rights abuse by employees of its local joint venture partner....
...Its sales in China fell by 8.7 per cent last year to 2.1mn, while US sales rose by 14 per cent to 2.6mn....
...It has committed to boosting the output of artillery rounds and forecasts total sales will double by 2026 compared with last year....
...Companies such as BMW, Mercedes-Benz and Volkswagen are scrambling to ramp up EV sales while a growing number of Chinese start-ups announce electric model launches in Europe....
...European lawmakers have agreed to in effect ban EU sales of almost all new diesel trucks by 2040 as part of the bloc’s fight against climate change....
...Following the sale of part of the business to IBM, Software AG will be a significantly smaller company....
...Rheinmetall expects its sales to have doubled by 2026, as the German arms manufacturer benefits from soaring demand for weapons on the back of the wars in Ukraine and Gaza as well as rising tensions in Asia-Pacific...
...However, the companies are seeing margins being hit as the slow uptake of battery-run vehicles has dragged out the transition phase while overall car sales remain historically low....
...BMW’s profit margins on cars have continued to grow, as the premium carmaker bucks the malaise reported by many rivals and reports growing sales in electric vehicles....
...Siemens warned of slowing sales growth in the next year owing to flat growth in China, even as it reported record profits in its flagship industrial business....
...Chief executive Belén Garijo said in October that the company hoped evobrutinib could be a blockbuster, defined by the pharmaceutical industry as a drug that generates more than $1bn in annual sales....
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