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Automotive Industry

Wealthiest Austrian Deceased

Ferdinand Karl Piëch, former manager and major shareholder of Porsche Automobil Holding, died at the age of 82 after a visit to a restaurant. He was head of Volkswagen for almost ten years, later becoming Chairman of the Supervisory Board. He retired from the Group in 2015.

August 27, 2019

Relocation to Austria: How to Import Tax and Duty Free a Vehicle for Personal Use

It may be convenient to take your car with you when you relocate to Austria. The same applies to cars that may cost less abroad than in Austria. However, there are additional costs in addition to the purchase price (Eigenimport). The NoVA (Normverbrauchsabgabe) is due at the first registration in Austria for new and used cars. The NoVA varies according to age and model. However, you can avoid this under certain conditions.

August 7, 2019

BMW to Invest 28 Million Euros in Salzburg Location

Within the framework of a festive event under the theme "Good for Salzburg. Good for Austria." the BMW Group recently laid the foundation stone for its new BMW Group Campus Salzburg for Central and Southeastern Europe. BMW is investing 28 million euros in the expansion of 400 employees. The inauguration of the new campus is planned for autumn 2020.

August 5, 2019

Driving a Car in Austria: How to Import a Vehicle for Personal Use

What is required to register your car in Austria that you have purchased abroad? What do you need to look out for when buying a car? What costs do you have to bear? You can find all tips for importing your own vehicles (Eigenimport) to Austria here.

August 4, 2019

Driving a Car in Austria: What Users of a Vehicle with a Foreign Number Plate Need to Know

Persons whose main residence is in Austria and who drive a vehicle with a foreign registration plate must obtain an Austrian registration plate after one month at the latest. If the license plate is used for a longer period of time, administrative and financial criminal proceedings will be initiated.

August 2, 2019

Diplomats in Austria: How Does the Tax Exempt Purchase of Motor Vehicles Work?

New rules for the tax-exempt purchase of a motor vehicle from an Austrian car dealership concern the direct exemption from VAT and the normal consumption tax, which contributes to speeding up the tax relief.

July 9, 2019

Uber Ridesharing Threatens to Retreat from Austria

The US transportation network company Uber wants to mobilise against the taxi and rental car reform in Austria with a petition. The new law would be a setback for Austria in several respects. If the new law is passed on 3 July, we will no longer be able to offer services such as UberX, according to a statement by Uber.

June 27, 2019

The First-Ever BMW X7 - A New Dimension in Spaciousness

The first-ever BMW X7 has been revealed and we have all the information you need to know about the company’s flagship Sports Activity Vehicle (SAV). Keep reading for the car’s full price, specs and release date.

October 25, 2018 · Sponsored Content

Car Dealer Denzel Increases Group Turnover by Twelve Percent

Vienna-based car importer and dealer Denzel sold around 45,000 vehicles in the past fiscal year and increased group sales by 12 percent to over 830 million euros.

May 17, 2018

South Korea's LG Electronics Acquires Austrian Automotive Supplier ZKW for €1.1 Bln

South Korean electronics manufacturer LG Electronics is acquiring the Lower Austrian lighting and electronics systems specialist ZKW for more than 1.1 billion euros. It plans to buy a 70 percent stake in ZKW Holding, a supplier to Mercedes-Benz and BMW. Its holding company LG Corp. will purchase the remaining stake for 330 million Euro. LG hopes to expand its position in the automotive lighting sector for self-driving cars. ZKW was previously wholly owned by the entrepreneur Ulrich Mommert.

April 26, 2018

The New BMW X4 - The Dream of Every Diplomat

At the 2018 Geneva Motor Show, which is currently taking place in Geneva, BMW presents the new BMW G02 X4, among others.

March 7, 2018 · Sponsored Content

What Brexit Means for Austria: Mitterlehner, Kurz, Fiat Steyr

Mitterlehner hopes that the referendum will end in Britain staying in the EU. Kurz says, that Brexit would be terrible. Fiat could relocate production of agriculture and construction machine maker CNH (Case New Holland) from UK to Steyr in case of Brexit.

June 20, 2016

Magna Steyr Aimes for full Capacity Utilisation at Graz Plant

The car manufacturers Jaguar Land Rover are moving part of their production from England to Austria. With new orders from Jaguar Land Rover, BMW and Daimler, the medium-term vehicle production at the Magna plant in Graz is set to return to levels in excess of 200,000 per year.

September 11, 2015

Jaguar Land Rover Signs Deal to Manufacture Cars in Austria

Tata Motors-owned luxury carmaker Jaguar Land Rover (JLR) said it has signed a contract manufacturing agreement with Austrian automotive firm Magna Steyr in another step to enhance its worldwide production line and build global footprint.

July 29, 2015

Strabag Builds Volkswagen Factory in Wrzesnia, Poland

Strabag Sp. z o.o., the Polish subsidiary of publicly listed Strabag SE, has been awarded the contract to build a new production plant for Volkswagen commercial vehicles in Poland. The automobile manufacturer plans to manufacture the next generation of its VW Crafter delivery van in the new factory in Września. Strabag has been commissioned to build three of the five modern production and industrial buildings that form part of the overall investment by the middle of 2015.

December 3, 2014

Miba Expands Production Facilities in the US

Automotive supplier Miba Sinter USA, LLC, is opening new production facilities in Ohio. The extension will create 100 new jobs in the next three years and represents an investment of USD 8 million.

August 1, 2014

Fiat Intensifies Investments in Poland

As reported by Polish daily Puls Biznescu, Italian automotive manufacturer Fiat plans on lauching the production of a new series, similar to the so-called Punto.

May 9, 2014

CA Immo to Sell Mercedes Benz Headquarters in Berlin

After selling Tower 185 in Frankfurt, CA Immo will now sell the headquarters of Mercedes Benz in Berlin. By this measure, debts will decline significantly for the Austrian real estate company.

October 7, 2013

Romania: Modest Growth for Metal Industry

Romania's metals sector will continue to see modest growth.

September 27, 2013

Poland Leads Ranking of Top Enterprises in CEE

Credit insurance company Coface has for the fifth time published a study about the Top 500 enterprises in Central and Eastern Europe.

September 24, 2013

Turkey: Industrial Turnover Index Grew 14.8 Percent

The statistical office of Turkey announced that the Industrial Turnover Index in July increased by 14.8 percent compared to the same month in 2012.

September 13, 2013

Russia: Disappointed About Joining WTO

A year ago, Russia joined the World Trade Organization (WTO). However, the country is not satisfied with the results despite of having negotiated about joining for 19 years.

August 26, 2013

Czech Industry Highly Dominated by Foreign Investors

In total, 42% of the company´s capital is controlled by non-domestic investors. This is the result of a study compiled by Bisnode.

August 2, 2013

Austria: Increased Demand in Romanian Exports

For the first time, Austria has imported goods from Romania exceeding the amount of € 1bn. Metals and machines are on top of the list of imported Austrian goods in Romania.

July 24, 2013

Russian Car Market to Get New Lift

The number of sales of new cars in Russia has declined 11 percent. This is the fourth month in a row showing declines, according to the figures of the Accociation of European Businesses (AEB).

July 10, 2013

Magna Not to Leave Austria for Eastern Europe

“There will be no impacts on Austria or Styria“, a spokeswoman announced. Instead, a plant in Belgium will “probably” be closed.

June 26, 2013

Magna Opens New Engineering Center in Shenyang

Magna International Inc., announced yesterday that its Magna Steyr operating unit continues to strengthen its worldwide network of engineering services by opening a new engineering center located in the Tiexi District of Shenyang, China.

June 26, 2013

Mitterlehner: Romania Offers New Chances for Austrian Economy

Austrian Economy Minister Reinhold Mitterlehner met his Romanian counterpart Varujan Vosganian in Vienna.

June 25, 2013

US: Active Investor in Romania

US companies remained active investors in Romania last year. Particulary the IT sector, automotive industry and oil/gas sector are increasingly strengthening their local position. Foreign direct investments from the US came at more than $ 1bn.

June 24, 2013

Eder Appeals for Reindustrialization in Europe

In an interview with Austrian daily „Kurier“, Wolfgang Eder, CEO of Austrian steel producer voestalpine talks about the future of the European steel industry and the differences to the US energy policy.

June 20, 2013

Magna Negates Downsizing

The Canadian-Austrian automotive component supplier Magna has rejects the alleged cut in workstaff in its plant in Graz.

May 6, 2013

Magna: Workstaff in Europe to be Reduced

According to CEO Walker the factory in Graz needs to become more efficient.

May 6, 2013

KTM: Strong Growth in Q1 2013

Sales: 26,029 vehicles / +34.1%, Revenue: 163.5 mio. EUR / +20.5%, Overproportional growth in Asia (+424%), Increase of market shares in Europe (+9.4%) and US (+23.3%)

April 22, 2013

Slovenia: State Aid to Rescue and Re-Structure Companies

At its regular session, the Government also approved the draft Act Governing the Rescue and Restructuring Aid for Companies in Difficulty.

April 18, 2013

Russia: Most Important Future Market for Opel

Head of General Motors, Dan Akerson, regards Russia as the most important future market for Opel.

April 15, 2013

Czech Republic: 5.7 % Decrease of Industrial Production.

In February 2013, industrial production decreased at constant prices by 5.7%, year-on-year; working day adjusted decreased by 1.6%. Compared to the previous month, seasonally adjusted industrial production was higher by 1.6%.

April 9, 2013

Eder: Future of Voestalpine and Steel Manufacturing Industry

In an interview CEO of voestalpine, Wolfgang Eder explains the current situation on the steel market and points out that mass products will come from CESEE countries in the future.

April 4, 2013

Slovakia: Industrial Production Increases by 4.1 %

Production still driven by the automotive industry. Industrial production in January 2013 increased month-on-month by 4.1%.

April 3, 2013

Serbia: GDP Decreased by 1.7 % in 2012

Based on data released by the Statistical Office, GDP fell by 1.7% in 2012. Broken down by quarter, real y-o-y GDP fell by 2.7% in Q1, 0.3% in Q2, 2.1% in Q3 and 2.0% in Q4.

March 30, 2013

Magna to Build Research Center in Austria

Magna plans to set up a new research department in Traiskirchen.

March 29, 2013

Austria: Mitterlehner Still Optimistic For Automotive Industry

The massive decline of 23 % in the motor vehicle trade in the first ten days of March 2013 does apparently not concern Austria’s economy minister Reinhold Mitterlehner.

March 15, 2013

Slovak Unemployment Rate on the Rise

In January, compared with January 2012, the employment decreased in five surveyed sectors.

March 14, 2013

Austria: New Head of Division for Magna

Former head of Opel, Karl-Friedrich Stracke, is going to assume the automotive engineering division at Magna in Steyr, Austria.

March 12, 2013

Hungary: Hope for Soon Economic Recovery Vanishes

In the last quarter of 2012, Hungary´s GDP was down by 2.7% compared to the reference period of 2011.

February 19, 2013

Automotive Industry in CESEE Region Booms

According to an analysis issued by Austrian Erste Group, every fourth car produced in the EU in 2013 will be "Made in CEE".

December 28, 2012

Slovakia: Economy Slows Down

In the third quarter of 2012, Slovakia´s GDP grew by 0.6%. Compared to the previous quarter, the growth rate remained unchanged.

November 19, 2012

Magna May Withdraw from Austria

The automotive group threatens to leave Austria. The wages would be too high, Magna Europe´s CEO Günther Apfalter says in an interview with “Kurier”.

November 5, 2012

Slovakia: Employment and Nominal Wages Growing

The highest wage increase was observed in the manufacturing and automotive industries. Employment was down in the construction sector and grew in the service sector.

October 12, 2012

Andritz is Concerned About China

The CEO of Andritz Wolfgang Leitner thinks that there are substantial risks for the Chinese and European economy.

October 10, 2012

Magna is Said to Lose Manufacturing of Mini

BMW considers shifting its production from Austria to the Netherlands or the U.K.

October 2, 2012
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