Headlines for Friday, December 7, 2012
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Aston Martin fans won't be cheered by deal with private equity group
The news that private equity firm InvestIndustrial will buy a 37.5 percent stake in Aston Martin won't be well received by fans of the brand. They would certainly have preferred to see contender Mahindra and Mahindra or another carmaker sign the deal. Read More »
Fiat's plan to cut Polish workforce causes government concern
Poland's government will ask Fiat to reconsider plans to lay off a third of its workforce in the country. Fiat plans to lay off around 1,500 workers at its factory in Tychy, Poland. Read More »
BMW names new sales for key China operations
BMW has appointed veteran executive Karsten Engel to lead sales in China, the company's single biggest market. He will succeed Christoph Stark, who will retire as China head in February after overseeing BMW sales jump about 15-fold over eight years in the country. Read More »
Fiat's cost for buying the rest of Chrysler may rise amid litigation
Fiat's bid to win full control of more profitable Chrysler is set to become more expensive in a few weeks, as a court ruling on a price dispute drags on and Chrysler's possible share flotation looms. Read More »
China's SAIC plans to build MG cars in Thailand with local partner
China's SAIC plans to set up an assembly plant in Thailand with the local Charoen Pokphand Group to build MG cars for sale in Southeast Asia. The two companies will initially invest 1.8 billion yuan ($289 million) in the joint venture ahead of planned car sales in 2014. Read More »
PSA JV will build 3 Citroen DS models in China by 2014, report says
PSA's China joint venture with Changan Automobile plans to produce three Citroen DS models -- the DS5, a three-box sedan and an SUV -- in the country by 2014, according to a Chinese newspaper report. PSA currently imports the DS3, DS4 and DS5 into China. Read More »
