Headlines for Tuesday, February 26, 2013

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Audi will boost German output further on U.S. demand

Audi will further expand production at its two German factories, citing stable demand for luxury vehicles especially from the United States. Read More »


Geely to invest 116 million euros in cab maker

Zhejiang Geely will invest 100 million pounds (115.8 million euros) in London black cab maker Manganese Bronze in the next five years as part of plans to make the company profitable. Read More »


PSA-Changan JV appoints new president

Gilles Boussac is the new president of Changan PSA. For the past four years, Boussac has been an executive vice president at another PSA China joint venture, Dongfeng Peugeot Citroen Automobiles. Read More »


Volkswagen gov't subsidy probe dropped by EU

The EU has dropped a probe into aid given to Volkswagen by Germany after the government reduced the planned subsidy for the automaker, the European Commission said today. Read More »


PSA sees China turning into biggest market as Europe weakens

PSA predicts China will overtake France as its biggest market as early as 2015. The automaker expects to boost sales in China this year by 22 percent to 540,000 vehicles. Read More »

Sogefi's 2012 net profit up 22% on N. America growth

talian car parts supplier Sogefi said on Tuesday its full year 2012 profit rose 22 percent to 29.3 million euros as growth at its North American operations powered sales. Read More »


McLaren will build 375 units of Ferrari rival

McLaren said it will build just 375 units of its flagship P1 supercar that debuts at the Geneva auto show. The P1 will compete with Ferrari's Enzo successor that also debuts in Geneva. Read More »


Fiat adds SUV styling to the 500L minivan

Fiat will give the 500L Trekking a European debut at the Geneva auto show. The new car will compete in Europe against subcompact SUVs such as the Opel/Vauxhall Mokka, Ford EcoSport, Peugeot 2008 and Renault Captur. Read More »


Toyota to expand Russia lineup with U.S.-made Venza

Toyota will expand its model lineups in Russia and Ukraine by adding the U.S.-built Venza to the mix. The world's largest automaker will begin shipments of the wagon later this year as a way to generate added revenue for its U.S. operations. Read More »


GKN looks to U.S., Asia to offset weak European car demand in 2013

UK partsmaker GKN predicted another gloomy year for Europe's recession-hit car markets, saying the company would have to rely on the United States and Asia for growth again this year. In 2012, group pretax profit rose 19 percent to 497 million pounds ($751 million), the company said on Tuesday. Read More »

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