Headlines for Wednesday, January 30, 2013

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Subprime lenders expect strong 2013

12:01 am U.S. ET | Jan. 30, 2013
Three subprime auto lenders say strong growth should continue in 2013. “We expect to be just short of doubling our number of dealers this year,” said David Satterfield, co-COO for First Investors Financial Services of Houston.

Q&A

Why F&I bundling has 'exploded'

12:01 am U.S. ET | Jan. 30, 2013
Pitching auto customers a package of F&I products for one price, called bundling, speeds up the F&I sales process and helps dealerships shoehorn more products into a limited menu. It also gives customers fewer chances to object to pricing for individual items.

Dealers see rise in F&I profit per vehicle

12:01 am U.S. ET | Jan. 30, 2013
Seventy-five percent of car dealers responding to a survey by KeyBanc Capital Markets in December said they expected their gross F&I profit per vehicle to rise in the fourth quarter.

Ally Financial needs 'concrete plan' to unwind from U.S., watchdog says

12:01 am U.S. ET | Jan. 30, 2013
The Treasury Department needs a “concrete plan” to unwind the 2009 bailout of Ally Financial, the former auto-finance arm of GM, an administration watchdog says in a new report. Taxpayers still own 74 percent of Ally, which owes $14.

GM, in more marketing shifts, names new ad boss for Cadillac, report says

9:39 pm U.S. ET | Jan. 30, 2013
General Motors said it has appointed a new director of advertising for the Cadillac brand. Craig Bierley will succeed Molly Peck, who is becoming director of Chevy advertising. Peck replaces Kevin Mayer, who left GM last year to become vice president of U.S.

VIDEO: AutoNews Now: Chrysler takes Italian turn

12:01 am U.S. ET | Jan. 30, 2013
12 new Fiats, Alfas headed for U.S., while plans change for Chrysler, Dodge small cars; Honda, Acura getting Apple's Siri.

Chrysler bolsters plan for Fiat, Alfa in U.S.

7:46 am U.S. ET | Jan. 30, 2013
Chrysler Group has dropped plans to add two small cars each to its Chrysler and Dodge brands this year, according to a revised product plan revealed by the automaker today. The original plan called for the cars to be assembled by Fiat in Europe.

Ghosn sees long European slump unless region gets competitive

Jan. 30, 2013 12:45 CET
Renault CEO Carlos Ghosn said the European auto market won't recover before 2020 unless governments take action to make their economies competitive.

VIDEO: First Shift: Chrysler profit rises 68%

12:01 am U.S. ET | Jan. 30, 2013
CEO vows to build on achievements; Toyota recalling 1.3M Corollas, Lexuses; Smart, Jeep Web sites named most satisfying.

Ferrari to help Alfa Romeo on engines, Marchionne says

Jan. 30, 2013 20:31 CET
Fiat will announce within a month a technical cooperation between its Ferrari and Maserati subsidiaries on engine work aimed at rebuilding the Alfa Romeo brand, Fiat-Chrysler CEO Sergio Marchionne said Wednesday.

Auto insurance 'arms race' questioned: Rodgers clashes with Flo

11:54 am U.S. ET | Jan. 30, 2013
American auto insurers, a group that has enlisted Hollywood actors and professional athletes to pitch their coverage, failed to boost sales even after spending billions of dollars on advertisements, McKinsey says.

VW plans further cuts in German Passat production

Jan. 30, 2013 21:01 CET
VW plans further temporary halts in production of the Passat in Germany in the coming weeks as a result of the weak European market.

DAVE GUILFORD

How Boeing prepared Alan Mulally for Ford

4:07 pm U.S. ET | Jan. 30, 2013
Ever wonder how Alan Mulally walked into Ford from the aircraft industry and knew exactly what to do to whip the company back into shape?

GM to invest $200 million at its powertrain headquarters

2:41 pm U.S. ET | Jan. 30, 2013
GM is investing $200 million in its global powertrain center in suburban Detroit, part of a plan to consolidate work done elsewhere and accelerate development of new engine technologies.

Chrysler Q4 profits jump 68% to $378 million

6:47 am U.S. ET | Jan. 30, 2013
Chrysler Group reported net income of $378 million in the fourth quarter as a yearlong string of sales gains in the United States led the automaker to its second consecutive annual profit.

Reaction: Concern over future cash generation, product delays, margins

9:10 am U.S. ET | Jan. 30, 2013
What analysts have to say about Chrysler's 2012 financial results and outlook:

Fiat wants to quickly buy UAW trust's stake in Chrysler

3:30 pm U.S. ET | Jan. 30, 2013
Fiat-Chrysler CEO Sergio Marchionne said the Italian automaker would like to see the minority holder of U.S. affiliate Chrysler Group LLC sell out as soon as possible.

Honda puts Siri in three '13 models

10:40 am U.S. ET | Jan. 30, 2013
American Honda says it will install Apple's Siri voice-activated telematics assistant into several of its 2013 models. The 2013 Honda Accord and Acura RDX and ILX will offer Siri as a dealer-installed option, the company said in a statement today.

New tailpipe emission regulations mulled by White House

1:59 pm U.S. ET | Jan. 30, 2013
The White House has started weighing a proposal to set stricter limits on tailpipe emissions, which could require automakers to put more emissions controls into their new cars and trucks within a few years.

MIKE COLIAS

Why one Chevy dealer REALLY loves the new Corvette Stingray

1:27 pm U.S. ET | Jan. 30, 2013
Many people liked Chevrolet's decision to badge its next-generation Corvette with the throwback Stingray name. Steve Hurley really liked it. He's dealer principal at Stingray Chevrolet in Plant City, Fla.

Ford sees surge in U.S. hybrid sales on way to annual record

3:34 am U.S. ET | Jan. 30, 2013
Ford, which has introduced five new electric-powered models in the past year, expects its sales of hybrid vehicles to surge by fivefold in January to start a record year for the company.

Marchionne confirms Fiat's 2013 outlook despite Europe 'free fall'

Jan. 30, 2013 12:56 CET
Fiat today confirmed that it expects its Fiat and Chrysler auto divisions to increase sales to a combined 4.3 million to 4.5 million vehicles this year and boost revenues to between 88 billion and 92 billion euros.

Opel union seeks job guarantees for Bochum closure

Jan. 30, 2013 06:01 CET
German trade union IG Metall wants GM to guarantee no Opel employee at the Bochum car plant will join the ranks of the unemployed once production ends.

Fiat, Alfa to get U.S. boost from new Chrysler product plan

Jan. 30, 2013 13:46 CET
The Fiat and Alfa Romeo brands will get a big boost in the United States from Chrysler Group's new long-range product plan revealed today.

JIM HENRY

Private equity likes the F&I space

12:01 am U.S. ET | Jan. 30, 2013
Investor interest shows that F&I is an attractive business to be in.

Opel says it has 20,000 orders for Adam

Jan. 30, 2013 11:00 CET
Opel has received more than 20,000 customer orders since October for the new Adam minicar, a crucial product for the money-losing brand. Opel and GM need the Adam to be a success if it is to turn around its European business.

Fiat Q4 profit up 29% helped by narrower Europe loss

Jan. 30, 2013 11:43 CET
Fiat reported a 29 percent gain in fourth-quarter profit, boosted by record sales of Jeep models and a narrower loss in Europe.

Toyota to recall 1.3 million vehicles for airbag, wiper glitches

7:31 am U.S. ET | Jan. 30, 2013
Toyota will recall nearly 1.3 million cars globally for two separate defects, including 752,000 Corolla and Corolla Matrix vehicles in the United States to fix airbags that could be deployed inadvertently, the automaker said today.

Fisker hires turnaround specialist

Jan. 30, 2013 06:01 CET
Fisker Automotive, the plug-in hybrid maker that's seeking a partner or a buyer, hired a turnaround special to help manage day-to-day operations during negotiations.

Ally Financial needs 'concrete plan' to unwind from U.S., watchdog says

12:01 am U.S. ET | Jan. 30, 2013
The Treasury Department needs a “concrete plan” to unwind the 2009 bailout of Ally Financial, the former auto-finance arm of GM, an administration watchdog says in a new report. Taxpayers still own 74 percent of Ally, which owes $14.

Cutbacks at PSA and Renault meet growing resistance

Jan. 30, 2013 06:01 CET
Labor tensions at France's automakers took a turn for the worse as Renault workers protested over planned cuts and PSA/Peugeot-Citroen's restructuring plan hit a legal setback.

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