Getrag, one of the biggest independent makers of transmissions, has attracted interest from automotive suppliers including Canada’s Magna International Inc., people with knowledge of the matter told Bloomberg.
Lynn Tilton, the owner of auto supplier Dura Automotive and the so-called Diva of Distressed, lost a bid to halt a U.S. Securities and Exchange Commission in-house disciplinary proceeding against her after a federal judge said she was powerless to do so.
Osamu Suzuki, the outspoken patriarch of Suzuki Motor, positioned his son Toshihiro as his successor, appointing him president and COO of the family's namesake carmaker. Osamu Suzuki will keep his positions as chairman and CEO.
Japanese retail investors are flooding stock brokers with orders for a new class of Toyota shares, indicating the carmaker can fetch a good price for the issue and secure a new group of long-term investors.
VW brand will have a new boss for the first time since 2007 when former BMW development chief Herbert Diess takes control. His tasks as successor to Martin Winterkorn, who remains VW Group CEO, include reining in costs, increasing profitability and making the brand a stronger player in the U.S.
Citroen will replace its C5 midsize model, CEO Linda Jackson told Automotive News Europe, but she would only confirm that the next-generation car would be sold in China. Jackson said there is a “question mark” over whether Citroen would sell the replacement in Europe.
Auto retailers working with BB&T Dealer Finance soon can expect to be paid flat fees, rather than dealer reserve, for arranging customers' loans. BB&T will launch a nondiscretionary dealer compensation program on July 1.
Ford Motor Co. is entering the car-sharing market with a program that will cut Ford Credit customers' vehicle costs by enabling them to rent out their cars. The pilot program, Peer-2-Peer Car Sharing, invites 26,000 select Ford Motor Credit Co. customers in six U.S.
I read with great interest about James B. Treece's experience in assuming the short-term lease of a Chevy Volt ("Mixed reviews are in after assuming lease for Volt," June 8). I agree with him. Dealers should have a role in the lease-transfer process.
A blot on auto retailing is developing in Birmingham, Ala. Eight former employees of Serra Automotive Group pleaded guilty to charges including falsifying documents and two managers are accused of cheating on Nissan North America's national sales incentive program.
Nissan, fighting falling sales of its Leaf electric vehicle, plans a midcycle update as early as August that aims to deliver a big boost in the EV's driving range, a person familiar with the project said.
Because diesel engines can get cranky in cold weather, General Motors engineers have redesigned several key components in the 2.8-liter Duramax four-cylinder turbodiesel coming this fall in the Chevrolet Colorado and GMC Canyon mid-sized trucks.
To revive Alfa Romeo, Sergio Marchionne, CEO of Fiat Chrysler Automobiles, plans a performance-first approach. German premium competitors launch mainstream versions of their core models first and add high-performance variants later - RS at Audi, M at BMW and AMG at Mercedes-Benz.
While the timing isn't ideal, dealers, analysts and Toyota itself are all bullish on the prospects for the next-gen Prius. They credit the strength of the Prius brand, its promising looks and what's shaping up as a solid backup plan.
Ford Executive Chairman Bill Ford will receive the Ambassador for Humanity Award from the USC Shoah Foundation at the organization's gala on Sept. 10. Hollywood legend Steven Spielberg will present Ford with the award.
BMW and Toyota have moved a step further on a project to jointly develop a midsize sports car with an agreement on common underpinnings for the model. The two carmakers outlined plans for the sports car in early 2013.
Two free-trade deals the U.S. is trying to negotiate would roll back the so-called chicken tax. Critics of the tax say it has priced imported trucks out of the market, shielding the Detroit 3's biggest profit machine from robust foreign competition.
Hyundai and the NFL jointly announced a four-year sponsorship deal today as the Korean automaker continued its push into sports marketing. The new sponsorship, which replaces General Motors, allows Hyundai to use NFL trademarks in its own advertising.
Automakers are returning some production to Europe from China as its cost advantage weakens, providing an opportunity for central European nations to attract investments, Martin Jahn, managing director of VW Group Fleet International, said.
As part of a settlement with the New York attorney general's office, a New York City dealership group must begin providing translations of sales documents to customers who negotiate their vehicle purchases in languages other than English.