Headlines for Friday, February 8, 2013

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Winterkorn seeks to cut his VW pay ahead of wage talks

Feb. 8, 2013 14:49 CET
VW CEO Martin Winterkorn proposed that he should take a self-imposed pay cut as the automaker prepares for wage talks with production staff in western Germany.

French gov't could take a PSA stake, minister says

Feb. 8, 2013 09:51 CET
The French government may buy a stake in PSA/Peugeot-Citroen if it is necessary to save the ailing automaker, a minister said. The comment came after PSA announced second-half writedowns of 4.13 billion euros ($5.53 billion) as Europe's plunging auto sales pushed down the value of its assets.

Auto execs turn away from EVs, focus r&d on downsizing, hybrids

Feb. 8, 2013 06:01 CET
Optimism about electric cars is fading as manufacturers scale back investment in response to weak sales. Just 8 percent of auto executives said their companies would invest in pure battery technologies over the next five years.

DOUGLAS A. BOLDUC

A Mercedes in half the time

12:01 am U.S. ET | Feb. 8, 2013
Daimler is determined to build its Mercedes-Benz and Smart cars in half the time it took just six years ago. Back then, the average production time at the Daimler subsidiaries was 60 hours, excluding the powertrain.

Nissan profits dented by China slump, lagging sales of key U.S. models

Feb. 8, 2013 10:34 CET
Nissan reported a 35-percent drop in third-quarter profit after sales tumbled in China and new models trailed rivals in the United States.

Renault Twingo, Smarts will share rwd platform

Feb. 8, 2013 06:01 CET
The Smart ForFour will share a rear-wheel-drive platform with Renault's future Twingo, executives at Smart said.

Supplier group CLEPA achieves new milestone

Feb. 8, 2013 13:35 CET
Powertrain component producer Dana this month became the 100th member of the European suppliers association, CLEPA. Partsmakers are counting on the Brussels-based lobby group to help them cope with tough times in Europe, CEO Jean-Marc Gales said.

2013 GENEVA AUTO SHOW

New Corvette convertible confirmed for Geneva debut

Feb. 8, 2013 08:58 CET
General Motors confirmed that the Chevrolet Corvette Stingray convertible will make its world debut at the Geneva auto show on March 5.

BMW aims for record third year after January sales boost

Feb. 8, 2013 11:02 CET
BMW said it aims for a third year of record sales in 2013 after January sales got off to a good start.

Automotive News Publisher Peter Brown sets April 30 retirement

Feb. 8, 2013 06:01 CET
Peter Brown, publisher of Automotive News, has announced his retirement effective April 30.

 
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