Headlines for Thursday, February 14, 2013

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VIDEO: AutoNews Now: GM's 'seeds of growth'

12:01 am U.S. ET | Feb. 14, 2013
As red ink flows in Europe, CEO keeps goal to break even by mid-decade; dealerships on rise; Tesla battles Old Gray Lady.

GM's Q4 operating profit rises 14% to $1.25 billion

7:32 am U.S. ET | Feb. 14, 2013
General Motors posted strong fourth-quarter profits in North America and Asia but wider losses in Europe while recording its third straight profitable year since exiting bankruptcy.

Chrysler plans diesel version of 2014 Ram half-ton pickup

10:09 am U.S. ET | Feb. 14, 2013
Chrysler Group's Ram brand plans to sell a half-ton pickup later this year with a diesel engine -- its first such offering since 1978.

U.S. dealership count edges up again; more gains seen

11:00 am U.S. ET | Feb. 14, 2013
The number of auto dealerships in the United States rose for the second straight year in 2012 and is projected to increase for "the next few years," reversing a decades-long pattern, a study says.

Managing the coming 'chaos': Analysts weigh in on GM

9:05 am U.S. ET | Feb. 14, 2013
GM reported a weaker-than-expected fourth-quarter profit on Thursday, citing wider losses in Europe and lower vehicle prices in its core North American market. What analysts have to say:

GM: 'No intention' of investing more cash in Peugeot

2:30 pm U.S. ET | Feb. 14, 2013
DETROIT (Reuters) -- General Motors is "not betting on" an uptick in European auto demand later this year and has no plans to provide additional funds to its struggling partner in the region, France's PSA Peugeot Citroen, GM's CFO said Thursday.

VIDEO: First Shift: GM profits rise

12:01 am U.S. ET | Feb. 14, 2013
A Q4 advance despite Europe's drag; tighter MPG scrutiny; U.S. funds battery-plant playtime; plus for BMW brand.

Ford promotes Elena Ford to senior role to improve dealer standards

3:33 pm U.S. ET | Feb. 14, 2013
Ford is promoting Elena Ford, great-great-granddaughter of company founder Henry Ford, to a newly created senior executive position charged with improving global dealer standards.

GM is confident of Europe turnaround after losses doubled

Feb. 14, 2013 13:32 CET
General Motors reiterated that it expects to break even in Europe by mid-decade after reporting losses in the region that more than doubled. GM said the market will fall further in 2013.

Lampert's RBS hedge fund cuts stake in AutoNation

6:19 pm U.S. ET | Feb. 14, 2013
Edward Lampert, the billionaire chairman and CEO of Sears Holdings, reported that he and his hedge fund cut a stake in AutoNation, the country's largest auto retailer.

BorgWarner may delay projects as growth slows; defends turbochargers

2:09 pm U.S. ET | Feb. 14, 2013
BorgWarner may put off some investment projects as part of a push to offset an expected slowdown in sales growth.

Chrysler recalls 370,297 trucks for possible loose fastener

2:57 pm U.S. ET | Feb. 14, 2013
Chrysler Group said it was recalling 370,297 pickup trucks and SUVs globally because a loose fastener could cause the rear axle to lock up and make a driver lose control.

BorgWarner: M&A 'extremely active,' but closing deals tough

11:01 am U.S. ET | Feb. 14, 2013
Merger and acquisitions activity remains high in the auto industry, but it has become more difficult to finalize deals in the tougher economic environment, the chief financial officer of auto parts supplier BorgWarner said on Thursday.

Fiat wins removal of false 500X image from Geneva show site

Feb. 14, 2013 13:47 CET
Geneva auto show organizers apologized to Fiat after a fake image of the automaker's upcoming 500X crossover was published on the show's Web site. The picture was taken off the site after Fiat complained that the image was not genuine.

Toyota settles recall cases with attorneys general in 29 U.S. states

1:27 pm U.S. ET | Feb. 14, 2013
Toyota Motor North America has settled its outstanding cases with attorneys general in 29 states and one U.S. territory regarding allegations of foot-dragging in its safety recall process from 2005 to 2010.

Tata Motors Q3 profit falls as Jaguar Land Rover cash boom shifts into reverse

Feb. 14, 2013 11:49 CET
Hit by falling margins and rising capital expenditure, roaring Jaguar Land Rover may be heading for a speed trap.

Renault-Nissan, UniCredit create Russia finance venture

Feb. 14, 2013 15:50 CET
Renault-Nissan will create a joint venture with Italian bank UniCredit to sell loans to car buyers in Russia. The alliance will have a 60 percent stake in the venture, while UniCredit will hold 40 percent, the companies said in a joint statement.


Why Daimler should have more faith in Italy

12:01 am U.S. ET | Feb. 14, 2013
Daimler is one of the companies bracing itself against Italy's possible exit from the euro. The controversial move comes at a tense time for the country.

Tesla steps up defense of Model S after New York Times review

9:46 am U.S. ET | Feb. 14, 2013
Tesla Motors released data gathered during a New York Times test drive of the Model S, stepping up its defense of the vehicle to counter a critical review.

Opel labor talks resume Friday with no end in sight

Feb. 14, 2013 15:19 CET
German labor leaders will return to the negotiating table with Opel for two days of talks starting Friday.

Renault 2012 earnings beat estimates as debt is eliminated

Feb. 14, 2013 08:04 CET
Renault eliminated debt at its auto manufacturing unit last year for the first time since its tie-up with Nissan. The company said 2012 earnings before interest, taxes and one-time items were 729 million euros, beating analysts' estimates.

Russian automakers mull luxury brand to rival BMW, Mercedes

Feb. 14, 2013 14:29 CET
Russian automakers are considering their government's desire for a domestic luxury brand to challenge the dominance of Western premium brands such as BMW, Mercedes-Benz and Audi, but they appear cool on the proposal.

Europe's January car sales offer little hope of recovery

Feb. 14, 2013 06:01 CET
LMC Automotive says it sees little hope of auto sales recovering in Europe this year after registrations in January plunged 9.5 percent. LMC predicted western Europe's full-year sales will drop 4.1 percent this year to 11.27 million, the sixth continual year of decline.

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