Tuesday, November 3, 2009

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BREAKING NEWS
Automotive News' coverage of Chrysler's 5-year plan

Automotive News will provide you with minute-by-minute reports Wednesday from a team of reporters and editors at Chrysler Group headquarters as CEO Sergio Marchionne unveils his 5-year plan for the U.S. automaker. 4:18 pm U.S. ET | Nov. 3


GM, citing improved financial health, decides to keep Opel
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General Motors Co. has decided to keep Opel, undoing months of painstaking negotiations to sell the European unit to a Russian-backed group led by Canada's Magna International Inc. GM cited an improving business environment and the importance of Opel to its global strategy as reasons for the switch. 5:21 pm U.S. ET | Nov. 3 | UPDATED: 11/03/09 8:50 p.m. ET   


OCTOBER U.S. SALES
U.S. sales, aided by GM, show some real spark

U.S. light-vehicle sales -- bolstered by General Motor Co.'s first gain in 21 months -- declined less than 1 percent in October as the industry showed signs of a recovery ...


Administration not involved in Opel decision, Treasury says

The Obama administration did not get involved with General Motors Co.'s decision to keep and restructure its Opel carmaking operations in Europe, a U.S. Treasury spokeswo ...


‘They need that volume' – Reactions to GM's decision

Here are some analysts' reactions to General Motors Co.'s decision to keep Opel, undoing months of negotiations to sell the European unit to a Russian-backed group led by ...


AUTOMOBILWOCHE CONGRESS
Opel Chairman Forster leaves open his future role at automaker

Opel Chairman Carl-Peter Forster left open questions about his future role at General Motor Co.'s European unit at an industry conference here. Media reports have suggest ...


Magna gets Opel labor to OK plan to cut costs by 265M euros a year

Opel workers have agreed to contribute 265 million euros ($390 million) in annual savings if General Motors Co. finally sells a majority stake in its European arm to a gr ...


Saturn launches marketing campaign, spiffs to clear inventory

General Motors Co. is launching a new marketing campaign and incentives to push out its remaining Saturn inventory, which means the brand could be wound down within three ...


BMW sees slight market rebound for 2010

BMW AG gave a tepid outlook for the markets and predicted the euro would stay strong after third-quarter earnings before interest and tax (EBIT) shrank 86 percent to 55 m ...


GM reports $13.6 billion cash in escrow account

General Motors Co. had $13.6 billion remaining in its U.S. government-funded escrow account as of October, after making payments related to the restructuring of its forme ...


REUTERS AUTOS SUMMIT
Fisker, UAW aim to reach labor deal

Fisker Automotive, a California-based start-up car company, expects to complete a deal with the UAW before year-end for the union to represent workers at an old General M ...


Dana’s Q3 loss narrows, despite lower sales

Driveline supplier Dana Holding Corp. narrowed its third-quarter net loss to $38 million from a loss of $256 million in the year-earlier period. The Maumee, Ohio, supplie ...


REUTERS AUTOS SUMMIT
Fisker picks distributor for Europe

Fisker Automotive Inc., the builder of luxury plug-in hybrids, has picked a large distributor to sell its vehicles in Europe and is looking to sign a similar deal in Chin ...


24% rise for German car sales in October

Germany's new-car market grew by 24 percent year-on-year in October even after a car scrapping scheme for old autos ran out of money in September, the VDIK foreign carmak ...


ANALYSIS
Honda creates Crosstour instead of Accord wagon

First question: Is the 2010 Honda Accord Crosstour as unattractive in the flesh as it is in photographs? Answer: Pretty darned close. Directly from behind -- and directly ...


REUTERS AUTOS SUMMIT
Dura eyes suppliers, sees consolidation

Dura Automotive Systems Inc. is looking at acquiring the assets of an Asian and a European auto parts supplier and will consider more opportunities as supplier valuations ...


REUTERS AUTOS SUMMIT
UAW hopes for GM IPO 'sooner rather than later'

UAW President Ron Gettelfinger said today the union would like to see an initial public offering by General Motors Co. "sooner rather than later" and said the projected l ...


Red Flags Rule delayed for 4th time

The Federal Trade Commission has again postponed enforcement of the Red Flags Rule -- a regulation designed to protect consumers from identity theft. Enforcement has been ...


Hinrichs will head Ford’s Asia, Africa operations

Joe Hinrichs, Ford Motor Co.’s manufacturing and labor relations chief and one of the company’s fastest-rising executives, will run Ford’s Asia and Afri ...


REUTERS AUTOS SUMMIT
U.S. auto supply sector must shrink

The U.S. auto supply industry averted catastrophe during the implosion of vehicle sales this year but more than half of the private companies still standing are distresse ...


NUTS AND BOLTS
Audi close to signing 100 million euro deal with Bayern Munich

Bayern Munich is close to an investment and sponsorship deal with Audi worth more than 100 million euros ($147 million), club manager Uli Hoeness said. ...


REUTERS AUTOS SUMMIT
Group 1 says it may buy more Ford dealerships

Group 1 Automotive Inc., the No. 4 U.S. auto dealership, has been looking at possible acquisitions over the past few months and would consider buying more Ford Motor Co. ...


REUTERS AUTOS SUMMIT
Credit troubles may keep U.S. auto demand low

Just as subprime lending set the stage for the housing crisis that set off the economic downturn, easy credit played a major role in inflaming demand for high-priced spor ...


How low will PSA stake in Faurecia will go?

Faurecia CEO Yann Delabriere did not rule out PSA/Peugeot-Citroen lowering its stake in the partsmaker below 50 percent. "(PSA CEO) Philippe Varin has said there is no ma ...


REUTERS AUTOS SUMMIT
Jerry York cautious on Chrysler prospects

A former top executive at Chrysler said on Monday that the No. 3 U.S. automaker, which emerged from bankruptcy in June by selling most of its assets to Italy's Fiat S.p.A ...


China poised be one of Ferrari's top 5 markets

Fiat S.p.A.'s Ferrari supercar unit said on Tuesday that it expects China to become one of its top five global markets in five years. ...


Ford to extend credit and raise $3 billion in equity

Ford Motor Co. said Monday it would pay back in part and extend by two years $10.7 billion of secured debt and issue some $3 billion of stock and equity linked securities ...


GREEN CARS
France to get Renault battery plant, paper says

Renault SA and its partner Nissan Motor Co. plan to jointly build a plant in France to produce batteries for electric vehicles starting in 2012, with an annual capacity o ...