Headlines for Monday, February 11, 2013
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Fiat's Turkish partner, Tofas, unveils plans for N.A. van exports, new cars
Fiat's Turkish partner, Tofas, disclosed plans to export the Doblo small commercial van to North America and also said it is working on two new passenger cars for local and export markets. Read More »
Renault and PSA 2012 financial results will put turnaround strategies in spotlight
The gravity of the French auto industry's crisis will be underlined this week by weak results at PSA/Peugeot-Citroen and Renault, boosting pressure on both for tougher cost-cutting moves. Read More »
EU sees no grounds to extend car coolant deadline despite safety concerns
The European Commission sees "no grounds" to give German automakers more time to comply with EU law requiring a less polluting coolant to be used in vehicle air-conditioning, a letter seen by Reuters said, despite safety concerns. Read More »
Has VW discovered the Holy Grail of carmakers?
Ulrich Hackenberg isn't yet a household name but if Volkswagen's $70 billion bet on his big idea pays off, he may join the likes of Henry Ford, Alfred Sloan and Taiichi Ohno in the canon of auto industry pioneers. Read More »
PSA bank unit gets temporary EU OK for bond guarantee
PSA's finance arm was granted temporary EU approval to receive a French government guarantee backing the issuance of 1.2 billion euros of new bonds. France must submit a restructuring plan covering the entire PSA group within six months to win final approval. Read More »
Russian car sales grew 5% in January; flat 2013 forecast
Russian new-car sales grew 5 percent year-on-year in January, the Association of European Businesses said. Read More »
Honda's Europe problems extend beyond market slump, analysts say
Honda is cutting jobs in the booming UK auto market because it says there are no signs that Europe's car sales slump will end soon. Analysts believe Honda's problems go beyond the slump, especially since rival Nissan continues to add workers and production at its UK factory. Read More »
Fiat will build the 500 for global markets in Poland only, sources say
Fiat will concentrate global production of the next 500 minicar in Poland, ending output of the model for North America at Chrysler's Mexico plant by 2015. The move provides additional work for Fiat's top-performing Tychy factory. Read More »
