Automotive News Automaker News Feed http://www.autonews.com News, blogs and commentary from the leader in North American automotive news en-us Tue, 28 Apr 2015 06:00:00 EST Penske Q1 net up 12% as sales rise http://www.autonews.com/article/20150428/RETAIL07/150429812/penske-q1-net-up-12-as-sales-rise Tue, 28 Apr 2015 08:48:40 EST Penske Automotive Group Inc. reported first-quarter net income rose 12 percent driven largely by strong vehicle sales. Ford posts 7% drop in Q1 profit, still sees 'breakthrough year' http://www.autonews.com/article/20150428/OEM/150429818/ford-posts-7-drop-in-q1-profit-still-sees-breakthrough-year Tue, 28 Apr 2015 07:02:39 EST Ford, which has forecast a "breakthrough year" for itself after remaking a large swath of its global lineup, today said its first-quarter net income fell 6.6 percent to $924 million as the launch of its aluminum-bodied pickup cut production. Aston Martin mulls plant in Alabama to be near Mercedes, report says http://europe.autonews.com/article/20150428/ANE/150429823/aston-martin-mulls-plant-in-alabama-to-be-near-mercedes-report-says Tue, 28 Apr 2015 04:42:44 EST Aston Martin is considering a U.S. factory in Alabama to be near industrial partner Daimler, Aston Martin CEO Andy Palmer told a UK car magazine. Honda fiscal Q4 operating profit falls 32% on recall costs, flat car sales http://www.autonews.com/article/20150428/OEM/150429821/honda-fiscal-q4-operating-profit-falls-32-on-recall-costs-flat-car Tue, 28 Apr 2015 06:08:49 EST Tepid sales and a barrage of recall costs hammered profits at Honda in the latest quarter, forcing the carmaker to miss its main targets for full-year earnings and unit sales. Operating profit tumbled 32 percent to $935. Toyota plans $4.2 billion share sale to fund fuel cell randd http://www.autonews.com/article/20150428/OEM05/150429819/toyota-plans-4-2-billion-share-sale-to-fund-fuel-cell-rd Tue, 28 Apr 2015 06:55:19 EST Toyota plans to replace as much as 500 billion yen ($4.2 billion) of common equity with unlisted shares that have transfer restrictions, locking in longer-term funding as the carmaker develops new technology. Daimler profit surges 41% on record Mercedes sales http://europe.autonews.com/article/20150428/ANE/150429824/daimler-profit-surges-41-on-record-mercedes-sales Tue, 28 Apr 2015 02:15:45 EST Daimler said first-quarter operating profit surged 41 percent on the effects of new model launches and record sales of Mercedes cars. Overall adjusted group earnings before interest and tax (EBIT) jumped to 2.93 billion euros ($3.19 billion). McLaren vows to stay independent as it pushes to boost sales http://europe.autonews.com/article/20150428/ANE/150429820/mclaren-vows-to-stay-independent-as-it-pushes-to-boost-sales Tue, 28 Apr 2015 06:11:18 EST McLaren plans to stay independent to take advantage of its nimbleness as it competes with rivals including Lamborghini and Ferrari. The UK automaker is one of the few global luxury auto brands that is not part of a larger group. Why Piech's departure is bad for the industry http://www.autonews.com/article/20150427/BLOG06/304279884/why-piechs-departure-is-bad-for-the-industry Mon, 27 Apr 2015 00:01:00 EST The stunning resignation of VW Chairman Ferdinand Piech robs the industry of perhaps its most fascinating figure. After Piech quits, VW's search begins for perfect chairman http://europe.autonews.com/article/20150427/ANE/150429838/after-piech-quits-vws-search-begins-for-perfect-chairman Mon, 27 Apr 2015 12:09:52 EST After Ferdinand Piech's resignation as chairman, VW's supervisory board has an opportunity to give stakeholders and investors clarity regarding the automaker's long-term future while simultaneously setting up the automaker for even bigger financial... Sogefi names former Faurecia exec as new CEO http://europe.autonews.com/article/20150427/ANE/150429842/sogefi-names-former-faurecia-exec-as-new-ceo Mon, 27 Apr 2015 09:58:55 EST Italian supplier Sogefi has named Laurent Hebenstreit as its new CEO. Hebenstreit, 54, a former director at Faurecia and Plastic Omnium, will succeed Guglielmo Fiocchi, who left the company late last year. Piech, Wiedeking unlikely to testify in hedge-fund case against Porsche SE http://europe.autonews.com/article/20150427/ANE/150429843/piech-wiedeking-unlikely-to-testify-in-hedge-fund-case-against Mon, 27 Apr 2015 09:20:37 EST Hedge funds involved in a legal fight against Porsche SE seemed to score a victory when a German court asked 21 people, including former VW Chairman Ferdinand Piech and ex-Porsche CEO Wendelin Wiedeking, to testify. Senate bill would reward workers for reporting safety concerns to regulators http://www.autonews.com/article/20150427/OEM11/150429828/senate-bill-would-reward-workers-for-reporting-safety-concerns-to Mon, 27 Apr 2015 17:31:39 EST The U.S. Senate is nearing approval of a bipartisan bill that would give financial incentives to employees at automakers and suppliers who report safety defect concerns to regulators. GM ignition-switch death toll rises to 90 http://www.autonews.com/article/20150427/OEM11/150429831/gm-ignition-switch-death-toll-rises-to-90 Mon, 27 Apr 2015 16:35:31 EST The death count from General Motors' defective ignition switch has risen to 90, three more than a week earlier. Eligible injury claims have reached 163, six more than last week. Ally to take over Mitsubishi's U.S. lending arm http://www.autonews.com/article/20150427/FINANCE_AND_INSURANCE/150429834/ally-to-take-over-mitsubishis-u-s-lending-arm Mon, 27 Apr 2015 13:26:55 EST Mitsubishi, one of the smallest car companies with a captive finance arm in the United States, is selling its book of business to Ally Financial, the former lending division of General Motors. Tenneco Q1 net income up 6.5%; revenue hit by exchange rates http://www.autonews.com/article/20150427/OEM10/150429833/tenneco-q1-net-income-up-6-5-revenue-hit-by-exchange-rates Mon, 27 Apr 2015 15:05:44 EST Ride control and emission control supplier Tenneco reported net income improvement and adjusted revenue growth for the first quarter. AutoNation Ford store in Bellevue, Wash., burns down http://www.autonews.com/article/20150427/RETAIL07/150429841/autonation-ford-store-in-bellevue-wash-burns-down Mon, 27 Apr 2015 10:45:56 EST AutoNation Ford Bellevue in Washington state was still burning today after a fire tore through the dealership Saturday morning. The local fire department is calling it a total loss. How Hummer maker, Mercedes came together http://www.autonews.com/article/20150427/OEM01/304279977/how-hummer-maker-mercedes-came-together Mon, 27 Apr 2015 00:01:00 EST Production of the Mercedes-Benz R class will begin on the line that once made Hummer H2s for General Motors, just a stone's throw from where AM General builds light tactical military vehicles for the U.S. and other governments. Are automakers addicted to in-car features overload? http://www.autonews.com/article/20150427/OEM06/304279960/are-automakers-addicted-to-in-car-features-overload Mon, 27 Apr 2015 00:01:00 EST Automakers are confusing customers by overloading vehicles with an array of infotainment features, many of which are never used. VW board members demanded Piech go after learning of secret plot http://europe.autonews.com/article/20150427/ANE/150429851/vw-board-members-demanded-piech-go-after-learning-of-secret-plot Mon, 27 Apr 2015 02:38:02 EST Ferdinand Piech, who resigned as chairman of VW Group over the weekend, caused his own demise by reneging on a deal to support CEO Martin Winterkorn and secretly plotting to oust him instead, according to sources close to the VW board. Tesla hit by hackers on Twitter, media-relations email accounts http://www.autonews.com/article/20150427/OEM05/150429845/tesla-hit-by-hackers-on-twitter-media-relations-email-accounts Mon, 27 Apr 2015 08:14:47 EST Tesla's Twitter feed and its media-relations email account were hacked Saturday, with the electric-car maker becoming the latest victim of online vandals. Piech exit to shake up VW's politburo, creating U.S. opportunity http://europe.autonews.com/article/20150427/ANE/150429849/piech-exit-to-shake-up-vws-politburo-creating-u-s-opportunity Mon, 27 Apr 2015 06:00:30 EST The sudden departure of VW Group Chairman Ferdinand Piech may loosen his politburo-style management on the automaker, which could help VW finally start making cars Americans want to buy. Hyundai to create shareholder-rights group after land deal irks investors http://www.autonews.com/article/20150427/OEM01/150429846/hyundai-to-create-shareholder-rights-group-after-land-deal-irks Mon, 27 Apr 2015 07:23:24 EST Hyundai Motor will establish a committee to represent shareholder interests when the board makes key decisions such as acquisitions, heeding calls from investors angered over a $10 billion land purchase last year. VW investors hope Piech exit may usher in change http://www.autonews.com/article/20150427/OEM02/150429847/vw-investors-hope-piech-exit-may-usher-in-change Mon, 27 Apr 2015 07:09:30 EST Investors hope that Volkswagen will be able to revive profitability at its core division, cure underperformance overseas and bury lingering plans for acquisitions after the resignation of Chairman Ferdinand Piech. Peugeot family to meet over future of its PSA stake, report says http://europe.autonews.com/article/20150427/ANE/150429850/peugeot-family-to-meet-over-future-of-its-psa-stake-report-says Mon, 27 Apr 2015 05:27:12 EST The Peugeot family plans to hold a meeting in June to work out its differences over the future of its 14.1 percent stake in PSA/Peugeot-Citroen, a newspaper reported today. GM to give Kettering University $4 million for proving ground, powertrain lab http://www.autonews.com/article/20150427/OEM01/150429848/gm-to-give-kettering-university-4-million-for-proving-ground Mon, 27 Apr 2015 06:38:57 EST Kettering University, which taught General Motors leaders such as CEO Mary Barra, is getting a $4 million gift from the carmaker to build a proving ground and powertrain test lab. Ford's Sync 3 debut, vehicle launches are out of sync http://www.autonews.com/article/20150427/OEM06/304279956/fords-sync-3-debut-vehicle-launches-are-out-of-sync Mon, 27 Apr 2015 00:01:00 EST The 2015 Ford Edge has been on sale for only a month, but it's already about to be out-of-date. Ford Motor Co. plans to start rolling out Sync 3, its replacement for the MyFord Touch infotainment system, starting this summer. Geely will expand UK site to build low-emission taxis http://europe.autonews.com/article/20150427/ANE/150419997/-geely-will-expand-uk-site-to-build-low-emission-taxis Mon, 27 Apr 2015 00:15:00 EST The Chinese-owned UK factory that builds the iconic London black taxi will be expanded to boost output tenfold, including production of low-emission plug-in hybrid taxis. Auto industry should cheer Tesla Motors' battery play http://www.autonews.com/article/20150427/OEM06/304279988/auto-industry-should-cheer-tesla-motors-battery-play Mon, 27 Apr 2015 00:01:00 EST When it unveils its first batteries for homes and businesses this week, Tesla Motors will no longer be a car company. It will be an energy company, competing against electric utilities just as it has gone after the car market. Troubling practices need attention now http://www.autonews.com/article/20150427/FINANCE_AND_INSURANCE/304279973/troubling-practices-need-attention-now Mon, 27 Apr 2015 00:01:00 EST Recognizing the proliferation of troubling practices that mirror the precrash mortgage market is important because these practices deserve attention now. AM General has big plans for MV-1 wheelchair vans http://www.autonews.com/article/20150427/OEM01/150429859/am-general-has-big-plans-for-mv-1-wheelchair-vans Mon, 27 Apr 2015 00:01:00 EST AM General earned a name for itself building vehicles for other people: the original Humvee for military customers and the Hummer H2 SUV for General Motors. Audi tests 2 car-sharing concepts in U.S. http://www.autonews.com/article/20150427/RETAIL01/304279966/audi-tests-2-car-sharing-concepts-in-u-s Mon, 27 Apr 2015 00:01:00 EST Audi On Demand is a car sharing pilot in San Francisco where consumers book an Audi rental from a smart phone app, and a concierge delivers and picks up the car. To EV or not to EV: The China question http://www.autonews.com/article/20150427/OEM05/304279963/to-ev-or-not-to-ev-the-china-question Mon, 27 Apr 2015 00:01:00 EST As automakers race to comply with China's increasingly stringent emissions rules, they are conflicted about the best electric-vehicle strategy and about whether the Beijing government is sufficiently supporting its avowed desire to see more EV sales. Recalled program cars vex GM, hurt profits http://www.autonews.com/article/20150427/RETAIL04/304279958/recalled-program-cars-vex-gm-hurt-profits Mon, 27 Apr 2015 00:01:00 EST Late last year, General Motors decided to hold off on auctioning many of its retired rental vehicles because of depressed prices. Even MG is joining the crossover parade http://www.autonews.com/article/20150427/OEM/304279969/even-mg-is-joining-the-crossover-parade Mon, 27 Apr 2015 00:01:00 EST Amazingly, Rolls-Royce, Bentley, Aston Martin and Jaguar all plan to offer utility vehicles. But when even MG is building one, you know the crossover craze is really getting crazy. Jaguar Land Rover lets Land Wind flap blow over http://www.autonews.com/article/20150427/OEM/304279970/jaguar-land-rover-lets-land-wind-flap-blow-over Mon, 27 Apr 2015 00:01:00 EST Jaguar Land Rover vowed to take 'appropriate action' in November when China's Jiangling Holding unveiled its Range Rover Evoque lookalike, the Landwind X7, at the Guangzhou auto show. One congressional foe of estate tax repeal is a dealer http://www.autonews.com/article/20150427/OEM11/304279968/one-congressional-foe-of-estate-tax-repeal-is-a-dealer Mon, 27 Apr 2015 00:01:00 EST Eliminating the estate tax has been a top priority of the National Automobile Dealers Association for years. Will Aston crossover call the U.S. home? http://www.autonews.com/article/20150427/OEM/304279971/will-aston-crossover-call-the-u-s-home Mon, 27 Apr 2015 00:01:00 EST Not all new auto assembly plants are going to Mexico, or at least state economic development officials in the U.S. would like to think so. Automakers, retailers post shareholder value gains for 1st quarter http://www.autonews.com/article/20150427/OEM/304279975/automakers-retailers-post-shareholder-value-gains-for-1st-quarter Mon, 27 Apr 2015 00:01:00 EST Global automakers and U.S.-based auto retailers generally produced strong shareholder returns in the first quarter. AM General has big plans for MV-1 wheelchair vans http://www.autonews.com/article/20150427/OEM10/304279978/am-general-has-big-plans-for-mv-1-wheelchair-vans Mon, 27 Apr 2015 00:01:00 EST Now and OEM in its own right, AM General works to build its Mobility Ventures brand and grow sales of the MV-1 wheelchair accessible vehicle. Innovation inspires suppliers along with industry http://www.autonews.com/article/20150427/OEM10/304279984/innovation-inspires-suppliers-along-with-industry Mon, 27 Apr 2015 00:01:00 EST The 21st annual Automotive News PACE awards were handed out April 20 at the Max M. Fisher Music Center here. The awards are sponsored by EY, the Transportation Research Center Inc. and Automotive News. Fourteen awards were won by 12 suppliers. Dealers http://www.autonews.com/article/20150427/RETAIL/150429877/dealers Mon, 27 Apr 2015 00:01:00 EST Christopher Gleason, general manager of Price Hyundai in Charlottesville, Va., receives a 25-year award from Dave Zuchowski, CEO of Hyundai Motor America. Power study: Safety trumps infotainment http://www.autonews.com/article/20150427/OEM06/304279980/power-study-safety-trumps-infotainment Mon, 27 Apr 2015 00:01:00 EST Automakers should invest in safety technology, over entertainment and convenience, to satisfy customers, according to a J.D. Power study released last week 50 years since 'Unsafe at Any Speed' http://www.autonews.com/article/20150427/OEM11/304279992/50-years-since-unsafe-at-any-speed Mon, 27 Apr 2015 00:01:00 EST This year marks the 50th anniversary of Ralph Nader's bursting onto the automotive scene by publishing Unsafe at Any Speed, an indictment of the early Chevrolet Corvair with swing axles. TRW details China plans, sale of unit http://www.autonews.com/article/20150427/OEM10/304279982/trw-details-china-plans-sale-of-unit Mon, 27 Apr 2015 00:01:00 EST TRW, the safety components supplier being acquired by Germany's ZF, said it plans to open three plants in China this year and next. Toyota: Output of fuel cell cars will top out at 3,000 a year http://www.autonews.com/article/20150427/OEM01/304279983/toyota-output-of-fuel-cell-cars-will-top-out-at-3000-a-year Mon, 27 Apr 2015 00:01:00 EST Japanese customers have a three-year wait for Toyota's new Mirai hydrogen fuel cell car, because the automaker can't make more of the cars. Using existing manufacturing technology, Toyota predicts output will top out at 3,000 fuel cell cars a year. Lexus reworks ES with bolder looks http://www.autonews.com/article/20150427/OEM03/304279990/lexus-reworks-es-with-bolder-looks Mon, 27 Apr 2015 00:01:00 EST After surveying customers in China and the U.S., Lexus came up with a more aggressive look for the freshened ES sedan that goes into production in the U.S. this year. Next BMW i to be based on 5 series, report says http://www.autonews.com/article/20150427/OEM05/304279996/next-bmw-i-to-be-based-on-5-series-report-says Mon, 27 Apr 2015 00:01:00 EST BMW will add a plug-in hybrid based on the 5 series to its i subbrand, according to a German auto magazine. VW coupe-style sedan concept previews a new look http://www.autonews.com/article/20150427/OEM03/304279985/vw-coupe-style-sedan-concept-previews-a-new-look Mon, 27 Apr 2015 00:01:00 EST Volkswagen's C Coupe GTE concept unveiled at the Shanghai auto show would be positioned between the Passat and the Phaeton if produced. Q80 Inspiration concept's design flourishes arrive in Infiniti lineup http://www.autonews.com/article/20150427/OEM03/304279994/q80-inspiration-concepts-design-flourishes-arrive-in-infiniti-lineup Mon, 27 Apr 2015 00:01:00 EST Futuristic design flourishes from Infiniti's Q80 Inspiration concept are already creeping into the lineup. Now Infiniti shows, via the long-wheelbase Q70 sedan unveiled in Shanghai, what it wants to do inside the car. Jaguar adds horsepower to the dashboard http://www.autonews.com/article/20150426/OEM06/304279993/jaguar-adds-horsepower-to-the-dashboard Sun, 26 Apr 2015 00:01:00 EST Jaguar Land Rover is not known for cutting-edge dashboard computers, but a lightning-quick navigation system in the redesigned XF sedan may change that. %]