2012 Financial results for Renault group

Despite a challenging European environment, the Renault group reinforced its balance sheet, pursued its global growth strategy and achieved a positive net income of €1,735 million.

• Group revenues of €41,270 million, down 3.2% on 2011.
• Group operating margin of €729 million, or 1.8% of revenues, compared with €1,091 million and 2.6% in 2011.
• Group operating income of €122 million, compared with €1,244 million in 2011.
• Contribution of associated companies of €1,504 million, compared with €1,524 million in 2011.
• Net income of €1,735 million (including a capital gain of €924 million from the disposal of remaining AB Volvo shares).
• Positive Automotive operational free cash flow[1] of €597 million, mainly resulting from efficient management of the working capital requirement.
• The Group moved from a net debt position of €299 million at December 31, 2011 to a net cash position of €1,492 million mainly due to the disposal of AB Volvo A shares for €1,476 million.

Commenting, Carlos Ghosn, Chairman and Chief Executive Officer of Renault, said: “In a contrasted global automotive market, Renault benefited from the growth of markets outside Europe, which account for over half of its sales. In the difficult environment in Europe, and especially in France, the Group led a rigorous sales policy and began the renewal of its range with the launch of Clio IV. Thanks to the commitments of all its employees, the Renault group is pursuing its strategy of global growth while strengthening its financial situation and delivering a positive Automotive free cash flow”.

Group revenues came to €41,270 million, down 3.2%. With the strong increase in sales outside Europe (+9.1%) failing to offset the decrease in sales in Europe (-18.0%), The Automotive division contributed €39,156 to revenues, down 3.7% on 2011.

Group operating margin fell €362 million in 2012 to €729 million (1.8% of revenues) compared with €1,091 million in 2011 (2.6% of revenues).

The Automotive division posted a slightly negative operating margin (- €25 million or -0.1% of its revenues) compared with a positive €330 million in 2011 (0.8% of its revenues). The positive impact from cost reductions for €528 million and the good control of G&A expenses did not offset the sharply negative volume impact (- €501 million) or the increased competition in Europe (mix/price/enrichment effect of - €242 million).

The contribution of Sales Financing to Group operating margin came to €754 million, compared with €761 million in 2011. The cost of risk totaLled 0.38% of the outstandings (up 0.15 points), after reaching a low point last year. However, it remains below its historic average, reflecting the continued good quality of the portfolio, despite the worsening economic environment in Europe.

Operating income was €122 million, after recognising other negative operating income and expense items, which totalled €607 million, mainly du to impairment charges of several vehicles lines, the devaluation of the Iranian currency, and restructuring costs.

The contribution of associated companies came to €1,504 million in 2012[2] (of which €1,234 million for Nissan), down from €1,524 million in 2011.

Net income came to €1,735 million, compared with €2,139 million in 2011. The total includes a capital gain of €924 million from the disposal of A shares in AB Volvo in December. Net income, group share, was €1,772 million (€6.51 per share).

For the fourth consecutive year, Automotive operational free cash flow was positive. Despite the negative impact from sales and operating income, full-year free cash flow came to €597 million, mainly resulting from the rigorous management of the working capital requirement. The Group was able to increase its annual investments reaching 8.1% of revenues.

This performance, along with the disposal of AB Volvo A shares in December 2012 for €1,476 million, enabled the Group to eliminate its net debt. For the first time since the beginning of the Alliance with Nissan in 1999, Renault is reporting a positive Automotive net cash position of €1,492 million at 31 December 2012, compared with net debt of €299 million at end-December 2011. At the same time, the Automotive division reported a strong liquidity position of €13.6 billion, compared to €11.4 billion at end-2011.

In line with the dividends policy announced in the “Renault 2016 - Drive the Change” plan, a dividend of €1.72 per share, strictly representing the dividends received by the Group in 2012 for its shares in listed companies, will be submitted for approval at the next Shareholders’ General Meeting.

2013 OUTLOOK

In 2013, the European market remains uncertain and is expected to contract by at least 3% with a French market down 3 to 5%. The global automotive market (PC+LCV) is expected to grow 3% year on year. This growth will be fuelled by positive momentum expected in China, North America, India (+11%) Russia (+5%), and Brazil (+1.5%).

In this context, Renault will pursue its strategy of international development. In Europe, the Group is targeting market share growth with new product launches (Captur, ZOE, Clio Estate, New Logan) and the full impact of the products launched at the end of 2012 (Clio IV and New Sandero) with a sustainable pricing policy.

Renault Group is targeting for 2013 (provided European and French markets are not significantly worse than expected):

• units sales growth,
• positive Automotive operating margin,
• positive Automotive operational free cash flow.

CONSOLIDATED GROUP RESULTS

€ million	2012	2011
Revenues	41,270	42,628
Operating margin % of revenues	729 1.8%	1,091 2.6%
o/w Automotive % of revenues in sector	-25 -0.1%	330 0.8%
o/w Sales Financing (RCI Banque)	754	761
Operating income	122	1,244
Net financial income	-266	-121
Capital gain from disposal of AB Volvo A shares	924	-
Contribution from associated companies	1,504	1,524
o/w Nissan	1,234	1,332
o/w Volvo	80	136
o/w AVTOVAZ	186	49
Current and deferred taxes	-549	-508
Net income	1,735	2,139
Net income group share	1,772	2,092

ADDITIONAL INFORMATION

The consolidated financial statements of the Renault group at 31 December 2012 were approved by the Board of Directors on 13 February 2013. The Group’s statutory auditors have conducted a limited review of these financial statements and their report will be issued shortly. The financial report, with a complete analysis of the financial results in 2012, is available for download in the Finance section of www.renault.com.

Lamborghini readies Ferrari F12 rival as reported by Autocar

Our friends over at AUTOCAR magazine have posted this online today, feel free to click on any AUTOCAR name to go to the post.

Lamborghini looks set to steal the Geneva motor show headlines with a front-engined V12 GT that’s designed to rival the Ferrari F12.

Company chairman Stephan Winkelmann has told Autocar that Lamborghini will reveal “something truly extraordinary that’s based on the V12" at Geneva next month. The concept will form part of the company’s ongoing 50th anniversary celebrations.

According to Winkelmann, the car will have two doors, two seats and a V12 engine — but its underpinnings will not be based on those of the Aventador. This means that it will be a front/mid-engined car, just like the Ferrari F12, but featuring Lamborghini’s staple of four-wheel drive and forged carbon construction.

Autocar understands that the new Lambo will be a concept for future consideration, not a model that is confirmed for production.

Winkelmann has admitted that his main focus right now is persuading the board of the Volkswagen Group, which owns Lamborghini, to green-light the Urus SUV. “Everyone at Lamborghini wants this car to happen,” he told Autocar. “But now the decision is largely out of our hands.

“We would need to sell between 3000 and 4000 examples a year for the Urus to justify its financial investment, and I'm confident that we could do that. It’s a decision they [the VW board] will, I hope, make very soon.”

If given the go-ahead by VW, the Urus will sell for “approximately the same amount as a Gallardo” so expect £140k-£160k.

Although Winkelmann told Autocar that naturally aspirated engines remain key to Lamborghini when it comes to sports and supersports cars (like the Aventador and next-generation Gallardo, due in 2014), the situation would be different with an SUV. “In a car like that, a hybrid turbo would make more sense,” he said. 

It remains to be seen if the Volkswagen Group will allow Lamborghini to bolster its 50th anniversary celebrations at Geneva by announcing that a new third model will indeed be added to the range.

 Steve Sutcliffe 

PSA group announce massive record losses, and outlays plans for future

PSA/Peugeot-Citroen laid out plans to move its namesake Peugeot brand upscale to help the automaker return to profit after the company posted a record 5 billion euro ($6.73 billion) net loss for 2012.

Peugeot cars will be upgraded to differentiate them more from Citroen models and average volume will double through the automaker's alliance with General Motors Co., CEO Philippe Varin said today at a Paris press conference.

"The Peugeot brand will move toward a more modern image," led by the 208 subcompact's high-performance GTI version and the new 2008 SUV-styled crossover, Varin said. "In 2013, the positioning of our brands will be supported by a very rich range of products and 17 vehicle launches," he said. At the same time, Citroen will not become a low-cost brand, the CEO said.

PSA wants to raise the number of premium-marketed vehicles from the 18 percent of total deliveries last year, Varin said.

Chief Financial Officer Jean-Baptiste de Chatillon said Peugeot has been charging more for its vehicles this year, and pricing in Europe will probably be stable throughout 2013.

Philippe Houchois, an analyst at UBS, said giving the Peugeot brand a more upmarket image will be difficult. "It is easy to add content in cars to make it more attractive, but the time for the customer to respond to that can take years." he told Bloomberg Television.

Described by PSA as a 'hot hatchback,' the Peugeot 208 GTi has a 200-hp, 1.6-liter engine. PSA's 2012 net loss reflected 4.74 billion euros in write-downs and mounting industrial losses as the company's European car sales plummet. Losses at the struggling auto division increased to 1.5 billion euros from a 92 million loss a year earlier and group revenue fell 5.2 percent to 58.4 billion, PSA said. Varin said PSA's recovery plan is on track after the automaker achieved savings of 1.18 billion euros, ahead of its 1 billion goal. "The results of the cost reduction and asset disposal plans have exceeded our targets," he said. "The foundations for our rebound have been laid. We are going to focus our investments, actively restore our profitability in Europe and reap the benefits from our investments in growing markets." The carmaker is targeting 50 percent of its deliveries outside Europe by 2015, Varin said. He reiterated the company's aim this year to halve negative operating cash flow, which amounted to 3 billion euros in 2012 including 2.5 billion euros at the auto division. More cuts in 2013 PSA said 900 million in new cuts are targeted for 2013 and the company plans to raise 300 million from property sales this year. Pooled vehicle development with GM will generate a further 600 million euros in savings for 2013, de Chatillon said. He also said that the carmaker's Faurecia parts division is not for sale. Earlier this month, PSA's write-down prompted French Budget Minister Jerome Cahuzac to say that the state may consider buying a stake in the carmaker.

The Peugeot 2008 will help lead the brand's upscale move. The crossover debuts at next month's Geneva auto show. PSA's 2012 operating loss was 576 million euros compared with operating profit of 1.09 billion euros a year earlier. The company's net debt at the end of 2012 decreased 211 million euros from a year earlier to 3.15 billion euros. Last year, PSA sold assets including a stake in the Gefco trucking unit worth 2 billion euros. It also reached deals on 11.5 billion euros in refinancing and received a French government guarantee to sell 7 billion euros in bonds. PSA's plan to eliminate 11,200 jobs and close a factory in the outskirts of Paris are on hold after a French court said last month that the automaker can't cut the positions until Faurecia, 57 percent-owned by PSA, fully informs workers about the effects of the carmaker's restructuring. PSA, which ranks second to Volkswagen Group in car sales in Europe, employs more than 100,000 workers in France. Christian Lafaye, leader of the FO labor union at PSA, said on Jan. 31 that the company is losing 7 million euros a day. Europe to remain 'depressed' The automaker is the worst casualty of a European auto sales collapse that has been especially brutal in the company's core southern Europe markets. PSA's passenger car sales fell 13 percent to 1.47 million last year in the EU and EFTA countries in a total market down nearly 8 percent to 13.6 million, according to industry association ACEA. The company's market share dropped to 11.4 percent from 12.4 percent in 2011. European auto demand is likely to fall a further 3 percent to 5 percent this year and remain depressed "for the foreseeable future," PSA said. The automaker aims to reach the break-even level by 2014 and profitability in 2015. Analysts said the 2012 loss was not as bad as expected. PSA shares jumped as much as 5.6 percent to 6.30 euros, the biggest intraday gain since Jan. 14. Stock was trading up 3.1 percent at 9:55 a.m. local time in Paris. The stock has gained 12 percent this year, valuing the carmaker at 2.18 billion euros. Juergen Pieper, an analyst at Bankhaus Metzler in Frankfurt, said the results were not quite as catastrophic as the market in general expected because cost reductions and sales fell less than estimated. "The outlook is certainly not great, but it seems that maybe the most negative points have been passed," he said. However, analysts are skeptical about PSA's recovery plan. "Rebound 2015 is built around a stable market at the 2012 level and a 13 percent market share for PSA," Credit Suisse analyst David Arnold said in a note. "Both look unlikely now." CEO Varin's contract will be extended CEO Varin's contract will be extended "without a doubt" when the board takes up his reappointment in May, PSA Co-Vice Chairman Jean-Philippe Peugeot said today. The Peugeot family, which controls the manufacturer, backs the recovery plan and understands that it may take some time to complete, he said. Some reports had said the French government wanted Varin replaced with Louis Gallois, the former head of planemaker Airbus. Gallois will take a seat on PSA's supervisory board as the government's representative on April 24. Gallois, 68, did not want the CEO post, the reports said. "It's not a negative to have Varin staying as CEO," said Sascha Gommel, a Frankfurt-based analyst at Commerzbank. "He's not responsible for the problems PSA is in and he's trying to turn it around."

Read more: http://www.autonews.com/article/20130213/ANE/130219925#ixzz2KnSGgTdY 
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Ford shows it has feelings as Valentines day approaches

On the eve of Valentine’s Day, Ford, the UK’s best-loved car company, used its nationwide mapping data-base to plot the ultimate path to true love with a heart-warming road trip around the 20 most romantic street names in the country.

Joanna Lovett, Ford consumer insight manager, said: “Date Street in London is the perfect place to get a relationship under way, while couples can step it up a gear at Lipscomb Close in Berkshire before fulfilling their destiny and arriving at Wedding Drive in Nottinghamshire.

“As Britain’s best-loved brand, there really is a Ford in every long-lasting relationship. A sporty, stylish Ford Focus ST makes dating a dream, while the flexibility of the Ford B-MAX can make life easier for couples sharing a home for the first time.

“The Ford C-MAX is ideal when a young family comes along, with a Kuga an adventurous alternative. And as the family grows, with seven seats and lots of space needed, the Ford S-MAX, Grand C-MAX and Galaxy are perfect,” she added.

And with 70 per cent of new Ford vehicles having the manufacturer’s SYNC connectivity system as standard, Valentine messages can be received on bonded phones and automatically read out loud.  SYNC also updates phonebook entries, while music files can be browsed by genre, artist, album, song and playlist using voice commands to ensure the perfect playlist.  

Ford’s ultimate Valentine road trip around the UK might be:

1.   Valentine Road, Leicester
2.   Sweetloves Lane, Bolton
3.   Cupids Chase, Southend-on-Sea,
4.   Hearts Delight Road, Borden, Kent
5.   Chivalry Road, Wandsworth, London
6.   Flowers Close, Dollis Hill, London
7.   Date Street, Kennington, London
8.   Hug Bridge, Macclesfield
9.   Lipscomb Close, Hermitage, Berkshire
10. Kissing Gate, Hull
11. Love Lane, Ongar, Essex
12. Diamond Close, Cambridge
13. Wedding Drive, Worksop, Nottinghamshire
14. Aisle Road, Kirkintilloch, Glasgow
15. Bride Street, Liverpool
16. Groom Walk, Guildford, Surrey
17. Marriage Lane, Sturminster Newton, Dorset
18. Partnership Court, Seaham, County Durham
19. Bliss Gate, Kidderminster
20. Trueloves Lane, Ingatestone, Essex

NEW 300PS AUDI S3 SPORTBACK EXPANDS THE A3 FAMILY

Performance hatchback adds more doors and more wheelbase length for improved passenger and luggage accommodation and even broader appeal

• Totally new 2.0 TFSI engine with turbocharging and direct injection
• Ample power and minimal consumption: 300PS and 380 Nm, but also up to 40.9mpg
• From zero to 62mph in 5.0 seconds (with S tronic transmission)
• Optional all-LED headlights and Audi magnetic ride
• Available to order in the UK from April, first deliveries in September
• UK pricing will be no higher than outgoing model despite performance and equipment gains

Savouring 300PS thrills while also satisfying the demands of a family will be easier to accomplish in the all-new, five-door Audi S3 Sportback. With a longer wheelbase than both its predecessor and the three-door S3, the new high performance hatchback variant will give even more priority to passengers and luggage, without giving any less to compelling pace, or surprising economy. Despite its further improved multi-tasking capabilities over the S3, the capacity for 40mpg-plus remains very much undiminished.

Due to make its debut at the Palexpo in Geneva next month (March 7 to 17) before opening for UK ordering in April and reaching its first UK customers in September, the latest S3 Sportback derives its 300PS and 380Nm from a brand new long-stroke 2.0-litre TFSI engine which shares only its 1,984cc displacement with its predecessor.  Peak power is available at 5,500rpm, and peak torque between 1,800 and 5,500 rpm, and when linked to the S tronic twin-clutch transmission the S3 Sportback can use these to deliver a 5.0-second sprint to 62mph on the way to a governed 155mph top speed (5.5 seconds with the manual transmission). Combined fuel economy stands at 40.9mpg (manual 40.4mpg).

The powerful four-cylinder engine bristles with new technologies which help to push the S3’s boundaries in terms of both output and economy. These include the use of both direct and indirect injection, the integration of the exhaust manifold into the cylinder head and the use of innovative thermal management for faster warm-up. Two balancer shafts rotating at twice the speed of the crankshaft take care of refinement, but thanks to an electromechanical actuator in the bulkhead the cabin is filled with just the right amount of sound, with just the right sporting tone. The exhaust system also includes a sound flap that opens at certain engine speed ranges to give this even greater depth.

70kg lighter

Despite its complexity and high output, the new 2.0 TFSI weighs just 148 kilograms - more than five kilograms less than the previous engine. This is just one example of the many steps taken to shave a total of 70kg from the kerb weight of the previous S3 Sportback, taking the total to 1,445kg. The lion’s share of the weight savings are on account of the body with its ultra-high-strength steel passenger cell and light aluminium wings and bonnet.

The all-new modular transverse platform (MQB) underpins the new S3 Sportback, and enables the front axle with its aluminium subframe and pivot bearings to be shifted forward 52 millimetres compared with the previous model. The new arrangement helps to effect an even more favourable axle load distribution of 59% to 41% front-to-rear.

As is customary for ‘S’ models the S3 Sportback is quattro permanent all-wheel drive-equipped. The latest incarnation of the system, with redesigned multi-plate clutch, enables the sophisticated S sports suspension with its McPherson-based front and four-link rear configuration and wider front and rear tracks to discharge 300PS without drama. It also gives the new variable ratio progressive steering system the freedom to deliver improved weighting, feedback and feel when cruising and attacking tight corners. In the straight-ahead position the new system draws no power from the alternator, helping to further improve fuel economy.

As an option, handling characteristics can be brought into even sharper focus by Audi magnetic ride, an electromagnetic damper control system using pistons in which a synthetic hydrocarbon oil containing microscopically small magnetic particles circulates. When a coil applies a voltage, the particles align perpendicular to the direction of flow of the oil, impeding its flow through the channels in the pistons to tauten cornering attitude.

The control unit constantly analyses the condition of the road and the driver’s style, repeatedly adapting the damper forces within milliseconds. The driver can choose between three modes. The new S3 is balanced in normal mode and tightly connected to the road in sport mode. Steering response becomes even quicker, and yaw movements are largely suppressed.

The brakes deliver the firm but progressive pedal feel expected of an S model. The front discs are internally vented and measure 340 millimetres in diameter. Their black-painted calipers are branded with S3 logos, and can be coloured red if preferred. The new electromechanical parking brake, which the driver operates via a button, is integrated into the rear axle brake system. The latest evolution of the ESC electronic stabilisation control intercedes very precisely.

Standard Audi drive select adaptive dynamics

Audi drive select is standard in the new Audi S3. It allows the driver to alter the characteristics of the throttle pedal response, the boost of the progressive steering, the shift points of the optional S tronic transmission and the configuration of the optional magnetic ride system at the touch of a button. A choice of comfort, auto, dynamic, efficiency or individual modes is available, and in the latter, drivers can compose their own preferred profile within certain limits.

In efficiency mode, the function of the standard dual-zone climate control, the cruise control, the adaptive cruise control and the adaptive light is adjusted for optimal fuel consumption. In this case, the S tronic transmission switches to coasting mode when the driver takes his or her foot off the throttle pedal.

As expected the taut and muscular body of the new Audi S3 Sportback incorporates the time-honoured S model hallmarks. The S-specific single-frame grille has an aluminium-look finish and matt platinum grey inserts. Its horizontal double bars also have an aluminium-look finish. The newly designed bumpers feature aluminium-look double ribs integrated into the lateral air inlets. Pronounced edges frame the large air inlets with high-gloss black honeycomb inserts. Additional implied air openings are located close to the wheels.

In profile, the aluminium-look exterior mirrors and the pronounced side sills catch the eye. The rear bumper has also been redesigned. The platinum grey diffuser houses the exhaust system’s four oval tailpipes, which feature chrome tips. A large roof spoiler generates downforce on the rear axle.

S badges adorn the rear and the single-frame grille. Highlights among the 14 colours available for the Audi S3 are the exclusive crystal-effect finishes Panther Black and Estoril Blue.

The standard xenon headlights with their LED daytime running lamps incorporate Audi adaptive swivelling cornering lights for improved corner illumination. These can be upgraded with special lighting functions for urban, extra urban and highway driving, as well as for junctions and tourist attractions. When combined with the front-facing camera, the light-dark boundary of the headlights is automatically and steplessly adjusted for substantially improved visibility and safety.

Optional all-LED headlights

As an option which breaks new ground in the compact class, an upgrade to LED headlights will also be offered. Previously only available in full-size models, their low beams are generated in two free-form reflectors with a total of nine high-performance LED chips. Ten high-performance LEDs in the matt aluminum trim provide the high beams. Depending on the features chosen, the high beams are switched on automatically and LED cornering lights illuminate tight corners. Inter-urban, motorway and tourist attraction lighting can also be incorporated. The all-weather lights enhance safety in fog or snow.

More passenger and luggage space

The exterior’s sporting overtones are of course carried over into the interior. Its controls are clear and intuitive, as in every Audi, and quality is exceptional. There is an even more generous supply of passenger space, helped by the 35mm increase in length over the three-door S3 between the front and rear axles. The luggage compartment offers 380 litres of capacity in the basic configuration, 15 litres more than the S3. This expands to 1,220 litres with the seats folded down.

The instrument dials are grey, the needles white. Another S-specific feature can be found on the rev counter, which now includes a boost pressure indicator. The driver’s information system with rest recommendation is standard; the power-retractable on-board monitor powers up to display a special S3 screen when the ignition is turned. The optional leather multifunction sports steering wheel has been redesigned with the flat-bottomed rim. In models equipped with S tronic, it also has aluminium-look shift paddles. The pedals and footrest are also in aluminium.

The sports seats with pull-out seat cushions are also a new development. The seat coverings are a mix of Velvet leather and Fine Nappa leather in UK specification S3 Sportback models, with Alcantara / Leather a no cost option. Audi also offers optional S sport seats with integrated head restraints and diamond quilting.

The interior of the S3 Sportback, including the headlining, is in black with contrasting stitching. S logos adorn the door sill strips, the steering wheel, the gear/selector lever knob and the instruments. Dual-zone electronic climate control and the storage package are standard.

The new S3 Sportback can be equipped with all of the groundbreaking mobile infotainment and driver assistance solutions available for the model series. Audi connect is the name for a broad range of tailored online services that network drivers with their surroundings and rapidly supply them with key information in an easy-to-comprehend format. A new, even more sophisticated version of Audi connect will be available for the S3 Sportback later in 2013.

Audi has designed a variety of infotainment elements for using the new services, topped by MMI navigation plus with MMI touch. The high-end system boasts a super-flat, power-retractable, seven-inch monitor and a new operating concept in which MMI touch is integrated into the rotary pushbutton. The Audi Phone Box connects mobile phones to the vehicle in a convenient way, and the sound system from Bang & Olufsen offers exceptional sound reproduction, with LED light guides accentuating the woofers in the doors.

The assistance systems in the S3 come directly from the full-size class. The range begins with adaptive cruise control, which when combined with the safety system Audi pre sense front brings the car to a stop autonomously from speeds below 19mph, and continues through Audi side assist, Audi active lane assist and camera-based traffic sign recognition to the park assist system. There are also a number of convenience options, including adaptive light (also with variable headlight range control), the advanced key and the panoramic glass sunroof.

Another Cross VW adds to the rest of the Cross VW's

Volkswagen is expanding its range of striking Cross models with the Cross up!, which will go on sale in Europe from late summer.  It will join the CrossPolo, CrossGolf and CrossTouran models, which have been a big success in Europe.

Cross models are individualised Volkswagen models with a particularly rugged design and tough, lifestyle qualities.  Thanks to numerous striking exterior elements, the Cross up! is instantly recognisable as a stand-alone model: sideways on, for example, black mouldings on the wheel arches and sills, plus full-length door protector strips topped with ‘Cross up!’ lettering create a sporty look.  Further unmistakable features of the Cross up! include the silver roof rails, the wing mirrors in a light silver metallic finish and bumpers also incorporating silver elements.  The robust, sporty character is defined above all by the extra ride height and the ‘Cross’ 16-inch alloys with a high-sheen finish and 185/50 tyres.

High-quality details are also to be found in the interior of the Cross up!, from kick-plates with ‘Cross up!’ lettering to seats in a special trim (in a choice of red or anthracite), an instrument panel with high-quality dash-pad (in a choice of red, black or dark silver), and a leather-covered steering wheel and handbrake lever.

The Cross up! is equipped to a high specification: included as standard are remote central locking, electric front windows, fog lights, electrically adjustable heated wing mirrors, an asymmetrically split, folding rear seat with headrests, a variable-height boot floor, a rev counter, a multifunction display and ESC electronic stability programme.

A 55 kW / 75 PS three-cylinder petrol engine combined with a five-speed manual transmission serve as the power train for the lifestyle-oriented Cross up!, which is available in Germany from late summer at a starting price of €13,925.  UK sales are under consideration, but not confirmed.

New Luxus IS, available to order from today.

KEY POINTS

• New Lexus IS to deliver bold new styling and enhanced driving performance in all new package
• Pricing starts from £26,495 for IS 250 SE models,
• IS 300h SE models available from £29,495
• 2.5-litre full hybrid system available for the first time in IS range, with CO₂ emissions from 99g/km
• Lexus dealers available to take orders from today, with deliveries from mid July

Lexus today revealed the pricing and specification details of its all-new IS range, which will be launched in the UK this summer. The line-up, unveiled at the North American International Motor Show in Detroit includes the first full-hybrid IS, the IS 300h, together with the 2.5-litre petrol-powered IS 250. Both versions feature rear-wheel drive and will be available with a further evolution of Lexus’s F Sport package.

Lexus dealers are open for orders from today, with customer deliveries from mid July, the third generation IS benefits from Lexus’ new focus on a rewarding driving experience and bold design, featuring the signature spindle grille.

The entry point to the new range is the SE, priced from £26,495 for the 2.5-litre IS 250, and £29,495 for the 2.5-litre full hybrid IS 300h. This model is generously specified, and includes the following specifications:

• 16” alloy wheels
• Drive mode select (Normal, Eco & Sport – additional EV mode on IS 300h)
• Cruise Control
• Smart entry and start system
• Dual-zone climate control air conditioning
• Power-fold heated mirrors
• HID headlamps with dusk sensing function
• 8 airbags
• 60/40 split rear seats (IS 250 only)
• Lexus display audio with DAB and Bluetooth connectivity
• Temporary spare wheel (Tyrerepair kit on IS 300h)

The feature model of the new IS range is the Luxury, priced from £27,995 for IS 250, and £30,995 for IS 300h. This model adds the following to the SE model:

• 17” alloy wheels
• Lexus Park Assist
• Rain-sensing wipers
• 60/40 split rear seats (both IS 250 & IS 300h)

F Sport is priced from £30,495 for IS 250, and £33,495 for IS 300h, and adds further sport cues to the interior and exterior design, including:

• 18” 10 spoke F Sport alloy wheels
• Sport suspension with lateral damping system
• F Sport mesh grille
• LFA-style instrument meters
• F Sport aluminium sports pedals
• F Sport leather trim on steering wheel and gear lever

Premier models are priced from £35,495 for IS 250 and £38,495 for IS 300h, and offers the highest standard specifications available, including:

• 18” 5 spoke alloy wheels
• Automatically folding wing mirrors
• 8-way power-assisted leather seats including heating and ventilation functions
• Electrically operated steering column
• 7-inchHDDfull map satellite navigation system with dynamic route guidance, rear view camera and connected services
• Mark Levinson sound system with 15 speakers and 5.1 channel surround sound

Accessories

A range of options are available for New IS, giving owners a cost-effective way of adding items of specification that are important to them.

Black leather upholstery is available on Luxury and F Sport models. Pricing starts from £1,400 for 6 way adjustable leather seats with heater function (available on Luxury models only). F Sport customers can also specify 8 way adjustable leather seats with heater and ventilation functions for £2,300, in either black or dark rose leather.

7-inch HDD full map satellite navigation system featured as standard on Premier models is available as an option on the rest of the range for £1,995.

Premier models can be equipped with a sunroof for £1,000

Metallic or mica paint can be specified on all models for £610

Colour range

SE, Luxury and Premier models are available in an 8 colour range: Velvet Black, Arctic Pearl, Satin Silver, Sonic Titanium, Mercury Grey, Mesa Red, Atlantic Blue and Celestial Black.  F Sport models are available in F Sport White and Ultra Blue, colours that are unique to this model.

Prices

MODEL	POWERTRAIN	OTR PRICE	TRANSMISSION
IS 250 SE	2.5-litre V6 petrol	£26,495	6AT
IS 300h SE	2.5-litre full hybrid	£29,495	E-CVT
IS 250 Luxury	2.5-litre V6 petrol	£27,995	6AT
IS 300h Luxury	2.5-litre full hybrid	£30,995	E-CVT
IS 250 F Sport	2.5-litre V6 petrol	£30,495	6AT
IS 300h F Sport	2.5-litre full hybrid	£33,495	E-CVT
IS 250 Premier	2.5-litre V6 petrol	£35,495	6AT
IS 300h Premier	2.5-litre full hybrid	£38,495	E-CVT

Chevy Spark's life into electric car at Geneva

• Electric version of Spark mini car to be sold in select European markets
• Electric motor produces 130 hp and 542 Nm of torque
• State-of-the art battery enables fast charging in 20 minutes
• Two reconfigurable LCD screens provide enhanced connectivity

Following the global reveal of the Spark Electric Vehicle in Los Angeles last year, Chevrolet's all-new battery-powered mini car will be presented to a European audience for the first time at this year's Geneva Motor Show. The car will be sold in select European markets as of 2014.

The Chevrolet Spark EV is anticipated to set a benchmark in performance for an urban city electric car and is powered by the most advanced electric motor and battery system General Motors has ever built.

"The Spark EV is a fun-to-drive zero-emission city car with intelligent connectivity. We believe it will resonate particularly in some of Europe's most technologically advanced markets," says Susan Docherty, President and Managing Director of Chevrolet and Cadillac Europe. "Just like Volt, this nimble battery-powered vehicle is a proof point for Chevrolet’s ingenuity in delivering smart mobility solutions."

Advanced propulsion system key to speedy take-off, competitive range

Its sports-car-like acceleration and smooth, yet instantaneous, torque of 542 Nm make the Spark EV a small car with enjoyable driving dynamics. The heart of the Spark EV's propulsion system is its GM-designed permanent magnet electric motor. It delivers more than 130 hp (100 kW) and will enable 0-100 km/h acceleration in under 8.5 seconds.

The Spark EV will be equipped with a lithium-ion battery system of more than 20 kWh that operates with the help of an active liquid cooling and heating system. Thanks to the sophisticated technology of its battery pack, the Spark EV is expected to achieve an electric range that is among the best in its class.The battery pack has been engineered to enable both regular alternate current (AC) and direct current (DC) fast charging.

DC fast charging will allow the car to recharge up to 80 percent of its capacity in approximately 20 minutes. Moreover, the battery system is capable of handling multiple DC fast charges daily. AC recharging requires between 6 and 8 hours, using a 230V outlet. A charge cord set is standard.

Cutting-edge connectivity makes driving easier and more fun

The Spark EV was designed to look edgy and expressive.Among the most prominent aspects of its stylish interior is a column-mounted instrument cluster that features one of two large seven-inch full-color LCD screens. The other display is located in the center stack and serves as the interface for infotainment, cabin climate controls and energy-efficiency data.

The Spark EV will come with the Chevrolet MyLink connected radio technology as standard, which allows users to connect compatible smartphones to the radio with its high resolution touch screen. Chevrolet MyLink will support a number of select apps which will allow users to navigate using their smartphone, and listen to radio stations around the world through the internet. A rear-view camera will provide assistance when the car is in reverse.

In addition, MyLink users who own a compatible iPhone* (as of 4S) running iOS6 will be able to utilise Siri, an advanced assist system, to perform a number of tasks while they safely keep their eyes on the road and hands on the wheel.

* Siri requires Internet access. Siri may not be available in all languages or in all areas, and features may vary by area. Cellular data charges may apply.