Headlines for Wednesday, January 16, 2013
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2012 European car sales lowest since 1995
New-car registrations in Europe plunged by 16 percent in December as volume automakers suffered falling sales. Full-year sales declined 7.8 percent to 12.5 million cars, the lowest level since 1995. Read More »
Spain may extend subsidies for car buyers
Spain's government may extend a car-buying subsidy program in an effort to stimulate the country's flagging car market. New-car sales in Spain fell 13 percent to 699,589 in 2012. Read More »
Carmakers get creative with crossovers as SUV alternative
The 2013 Detroit auto show demonstrates an increasing diversity in crossovers, or car-based vehicles that provide the space, styling and functionality of a truck-based sport-utility vehicle without the penalty at the gas pump. Read More »
Bentley sales to keep growing in double digits this year, CEO says
Bentley CEO Wolfgang Schreiber expects 2013 to be another year of growth at the carmaker as demand in the U.S. and China remains robust. Global deliveries of the super-luxury brand rose 21 percent last year to 8,500 vehicles. Read More »
GM sees global profits rising 'modestly' with 2013 models
GM, on the verge of reporting a 12th straight quarterly profit, forecasts 2013 profit rising "modestly" as new models meet expanding global demand. Read More »
VW's Mexican expansion leads push to boost N. America sales
Volkswagen CEO Martin Winterkorn opened an engine factory in Mexico to drive forward the automaker's North American offensive. The plant will produce up to 330,000 engines a year. Read More »
GM defends Opel plan based on new models, steady cuts
General Motors will stick with an Opel recovery plan that combines ambitious model rollouts with a "series of incremental things" to cut costs over time, the automaker said. Earlier this week, GM was forced to deny reports it was preparing to offload the European unit on partner PSA. Read More »
Faurecia profit drops on weak European car market
French supplier Faurecia posted a 62 percent drop in full-year net income, due partly to restructuring charges linked to falls in production in Europe's troubled car markets. Read More »
