Headlines for Monday, February 25, 2013
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Ex-Porsche designer aims to give Chery a styling boost
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. Read More »
Ford unveils EcoSport SUV for Europe
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. Read More »
GM denies reports of proposed hike in CEO Akerson's 2013 pay
GM today strongly denied several media reports that it has requested an increase in CEO Dan Akerson's 2013 compensation. Akerson's pay last year of $11. Read More »
GM hires VW's Mahoney to steer Chevy global marketing
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. Read More »
Bertone stretches the Aston Martin Rapide
Italian design house Bertone will unveil a one-off wagon-like version of the Aston Martin Rapide sports car at the Geneva auto show on March 5. Read More »
Volkswagen's start to year is worse than in 2012, Poetsch says
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. Read More »
China's wealth fund is unlikely to become key Daimler shareholder, Uebber says
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. Read More »
Daimler cuts Zetsche's pay as management bonuses are reduced
Daimler has cut CEO Dieter Zetsche's total pay by 5.8 percent to 8.15 million euros for 2012 as managers' bonuses were reduced following the scrapping of profit targets. Read More »
VW board cuts Winterkorn's 2012 pay
The VW supervisory board has taken steps to limit bonuses for CEO Martin Winterkorn and other top executives. Read More »
GM expects Opel labor deal soon
GM believes it can strike a deal in the next few days with German labor unions over a restructuring of its money-losing European unit Opel, GM Vice Chairman Steve Girsky said on Monday. Read More »
Nissan to sell Datsun cars in South Africa from next year
Nissan will start selling its Datsun brand in South Africa next year, the automaker said on Monday, as it aims to grab more first-time buyers in emerging markets with entry-level cars. Read More »
Amid insults, Mercedes and BMW both claim U.S. luxury crown
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. Read More »
