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.
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 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.
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.
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.
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.
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.
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.
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.
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.
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.