Chery Automobile is counting on ex-Porsche designer Hakan Saracoglu to improve the Chinese carmaker's styling. Saracoglu, who has also worked at Ford of Europe, is leading a team of 30 at Chery's Shanghai-based design center to come up with new concepts for models from sedans to SUVs.
Ford today unveiled the European version of its EcoSport subcompact SUV, a model the automaker hopes will help counter the company's falling sales in the region. The EcoSport will go on sale in Europe at the end of the year.
GM named Volkswagen of America executive Tim Mahoney to the newly created post of global chief marketing officer for Chevrolet. Mahoney also will carry the title of global GM marketing operations leader.
Volkswagen CFO Hans Dieter Poetsch predicted the first quarter would be worse than a year earlier, adding to a forecast last week that VW's 2013 operating profit probably wouldn't increase as Europe's auto market shrinks.
Daimler does not expect China's sovereign wealth fund to take a 10 percent stake in the automaker, thereby giving the automaker another anchor shareholder besides Kuwait. Chief Financial Officer Bodo Uebber told a German newspaper today that Chinese investment in the company is unlikely.
Mercedes-Benz and BMW have been trading insults since BMW sprinted ahead of Mercedes in December to snatch the 2012 luxury-sales crown in the U.S. The late burst by BMW ratcheted up as Mercedes laid claim to being the true winner based on newly released vehicle registration data.