Headlines for Wednesday, October 17, 2012

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How Romney could attack Obama's auto bailout

12:49 pm U.S. ET | Oct. 17, 2012
Most voters know that Republican presidential challenger and Michigan native Mitt Romney is a businessman with a lifetime connection to the auto industry.


Ford ups the ante in fuel economy wars

3:23 pm U.S. ET | Oct. 17, 2012
Lost amid the squabbling over drilling permits on public land, Iowa wind farms, Massachusetts coal plants and high gasoline prices during Wednesday's heated presidential debate, another shot was fired on the front lines of the battle for energy independence.

VIDEO: Auto News Now: Steer by wire at Infiniti

12:01 am U.S. ET | Oct. 17, 2012
Infiniti is first with steer by wire; Automotive News' 100 Best Dealerships to Work for; new GM for LA Auto Show

VIDEO: First Shift: Debating the bailout

12:01 am U.S. ET | Oct. 17, 2012
Romney, Obama spar over industry rescue; NADA's next chiefs; GM's Reuss gets a laugh; Martha Stewart touts Toyota

BMW shifts thousands of cars to U.S. from battered Europe

3:49 pm U.S. ET | Oct. 17, 2012
BMW AG has shifted "tens of thousands" of cars that were originally targeted for Europe to the United States and Asia this year as sales weaken in the crisis-hit region.

2013 Scion iQ EV to join car-sharing programs

3:37 pm U.S. ET | Oct. 17, 2012
Toyota said 90 2013 Scion iQ EVs are arriving in the United States today. The four-seaters will be used for car sharing and fleets, Toyota Motor Sales said in a statement. There are also a small number of the vehicles arriving in Japan

Timken names new vice president of light-vehicle systems

3:00 pm U.S. ET | Oct. 17, 2012
Timken has named John Law to the new position of vice president of light-vehicle systems. Law will report to Brian Ruel, who became vice president of light-vehicle, off-highway and rail operations in September.

China's Wanxiang may still pursue A123 after bankruptcy filing

2:33 pm U.S. ET | Oct. 17, 2012
The Chinese auto supplier that previously offered to bail out A123 Systems, the electric-car battery maker that filed for bankruptcy protection Tuesday, said it’s still interested in taking over the company.

Opel's Cascada convertible signals a possible Buick in North America

2:10 pm U.S. ET | Oct. 17, 2012
Opel, General Motors' financially embattled European unit, has revealed its new midsize Cascada convertible in a series of photos. The car goes on sale in early 2013.

Feds seek human controls for driverless cars

11:33 am U.S. ET | Oct. 17, 2012
A computer-driven car may not be commercially viable for at least another decade, but federal regulators are taking it seriously.


Conventional wisdom, unconventional advice

12:01 am U.S. ET | Oct. 17, 2012
I deal with reputable carmakers, retailers and auto lenders nearly all the time, so sometimes what passes for “conventional wisdom” about car dealerships and auto finance comes as a shock.


Can't beat credit unions? Join 'em

12:01 am U.S. ET | Oct. 17, 2012
Credit unions account for more than half of the loan volume at Dick Hannah Dealerships in the Pacific Northwest.

Hyundai promotes non-Korean as VP in charge of public relations

11:10 am U.S. ET | Oct. 17, 2012
Hyundai has promoted its global public relations chief to vice president -- a rare-advancement for a non-Korean executive at the carmaker’s global headquarters. Frank Ahrens, 48, an American, joined Hyundai as director of global public relations in 2010.

Lenders strike balance between growth, discipline -- so far

11:01 am U.S. ET | Oct. 17, 2012
The auto financing trends that supported higher U.S. car sales this year -- easier credit, more subprime lending and higher loan-to-value ratios -- should persist into 2013, but auto lenders are expected to stay relatively conservative.


Stores ordered to pay Capital One for 'non-genuine, invalid' loans

12:01 am U.S. ET | Oct. 17, 2012
Two Chicago-area dealerships with common ownership must pay Capital One Auto Finance $722,624 for failing to repurchase contracts for loans that had been approved based on falsified information or information obtained from identity theft, a federal judge in Illinois has ordered.


A little too much end-of-lease contact?

12:01 am U.S. ET | Oct. 17, 2012
The lease on one of my family cars is coming to an end. In December I'll need to hand over the keys after 36 months. I've really enjoyed the car more than I expected.

Mercedes' 3,000 euro discounts signal Germany's car sales woes

Oct. 17, 2012 06:01 CET
Germany, which had bucked the decline this year in Europe's auto market, is succumbing to the economic downturn, prompting car companies including premium automaker Mercedes-Benz to increase incentives to a two-year high.


German suppliers should win big with Ford's small engine

Oct. 17, 2012 06:01 CET
Robert Bosch, Continental and other German suppliers are poised to benefit from Ford's big plans for its small engine. The automaker plans to sell vehicles equipped with the new 1.0-liter EcoBoost gasoline engine in Europe, Asia and North America, and the volumes should be significant.

Germans, Koreans get boost from good times in eastern Europe

Oct. 17, 2012 06:01 CET
VW's success in Slovakia and Mercedes' strong start in Hungary illustrate a divide among the continent's carmakers. Those that cut costs last decade in western Europe or those that were never saddled with expensive factories there, such as Hyundai and Kia, are winning today.


Renault COO wants automaker to do more with less to cope with Europe decline

Oct. 17, 2012 06:01 CET
Renault Chief Operating Officer Carlos Tavares wants his employees to view the automaker as a family business because that way they will think twice before spending money foolishly.

BMW lets U.S. lessees skip payments in drive to pass Mercedes

12:01 am U.S. ET | Oct. 17, 2012
BMW AG, falling behind Daimler AG's Mercedes-Benz in U.S. luxury auto sales, is introducing an incentive program through the end of this month that lets lease owners skip payments if they buy a new vehicle.

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