Headlines for Thursday, January 24, 2013

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Group 1 deal for Brazil's UAB Motors opens new frontier for growth

8:38 pm U.S. ET | Jan. 24, 2013
Group 1 Automotive's plan to acquire one of Brazil's largest dealership groups signals another frontier for the U.S. auto industry's expansion-minded publicly traded dealership groups.


Toyota to show new Tundra in Chicago

3:39 pm U.S. ET | Jan. 24, 2013
Toyota plans to unveil an all-new Tundra full-sized pickup at the Chicago Auto Show next month. The redesigned, third-generation Tundra is expected to go on sale this spring and will become the third revamped big pickup planned by automakers for the 2014 model year.

VIDEO: First Shift: Buick's goal for Encore

12:01 am U.S. ET | Jan. 24, 2013
GM wants small crossover to match Verano's conquest rate; Toyota, BMW seal deal; sun shines on Volkswagen's new crop.

Renault will build new Nissan hatchback in France, report says

Jan. 24, 2013 21:06 CET
Nissan plans to build its a new hatchback at one of alliance partner Renault's French factories, a French newspaper reported.


Pony up $1,000, get an Elio t-shirt ... maybe a discounted 3-wheeled car

4:11 pm U.S. ET | Jan. 24, 2013
Elio Motors this month revealed plans to reopen the former GM plant in Shreveport, La., where it will pay 1,500 workers 50 percent more than new hires at GM earn to build $6,800, three-wheeled vehicles that get 84 mpg.

Hyundai Motor profits fall 5.5% in Q4

11:28 am U.S. ET | Jan. 24, 2013
Hyundai reported a 5.5 percent drop in quarterly net income after the won appreciated more than any major currency, reducing the value of overseas sales.

VIDEO: AutoNews Now: Cold truth about EVs

12:01 am U.S. ET | Jan. 24, 2013
Frigid weather tests limits of electric cars; BMW, Toyota tackle EV range limits; GM may get air-powered cars.

Chrysler drops one shift at Dundee Engine plant line

4:00 pm U.S. ET | Jan. 24, 2013
Chrysler Group has eliminated a shift of production at its Dundee Engine plant on the line that builds 1.4-liter engines, including the turbocharged version, for the Fiat 500 subcompact and some variations of the Dodge Dart.


Sergio promises updated Chrysler product plan next week

3:52 pm U.S. ET | Jan. 24, 2013
Sergio Marchionne said he will update the five-year product plan that the automaker laid out in November 2009 when Chrysler Group announces its earnings Wednesday.

Harold Wells, NADA leader who challenged factory-owned stores, dies at 81

3:19 pm U.S. ET | Jan. 24, 2013
Harold Boney “Toby” Wells, a leader in the 1999 auto dealer revolt against factory-owned stores, died Wednesday at Waltonwood Assisted Living in Cary, N.C. He was 81.


VW releases ad teaser: No car, no problem

11:04 am U.S. ET | Jan. 24, 2013
Volkswagen of America gave a glimpse of its Super Bowl spot today with an online teaser video, and like another of the automaker's most recent advertisements, it does not include a car.

PSA-GM joint vehicle programs will use French carmaker's platforms

Jan. 24, 2013 12:12 CET
General Motors and PSA will build joint vehicle programs using underpinnings from the French automaker. The first vehicles from the tie-up are due in 2016.

Mitsubishi recalls 14,700 EVs globally over brake problem

Jan. 24, 2013 13:29 CET
Mitsubishi said it will recall about 14,700 electric vehicles globally, including some PSA models, due to a brake pump problem.

JLR profit growth stalls on Evoque's growing share of sales

Jan. 24, 2013 06:01 CET
Jaguar Land Rover said fiscal third-quarter profit growth probably stalled because of currency shifts and its cheaper Evoque SUV model attracting a higher share of buyers.

Ghosn says Renault must act to lift French competitiveness

Jan. 24, 2013 11:19 CET
Renault CEO Carlos Ghosn said the automaker must take action to increase productivity. 'The best thing we can hope for is a market stabilization' in Europe, he said.

Toyota, BMW sign agreement for fuel-cells, sports car

Jan. 24, 2013 10:59 CET
Toyota and BMW are tightening technical ties with plans to jointly develop a sports car platform, lithium-air batteries and new lightweight materials.


Europe's crisis forces Renault to get tough

12:01 am U.S. ET | Jan. 24, 2013
Faced with steep sales declines, Renault may dare the previously unthinkable: Closing unproductive car plants in France.

VW plans extra shifts to meet demand for new Golf

Jan. 24, 2013 06:01 CET
Volkswagen says it is planning additional weekend production to meet demand for the latest version of its best-selling Golf which went on sale at the end of last year. Orders for the seventh-generation model have exceeded 100,000 cars, the company said.

Volkswagen joins other carmakers investing in Spanish output

Jan. 24, 2013 10:13 CET
Volkswagen plans to invest 785 million euros ($1 billion) over the next 5 years in a plant in northern Spain that builds the subcompact Polo model. VW is the third carmaker in recent months to boost investment in the recession-hit country.

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