Volvo CEO Hakan Samuelsson is not happy that the automaker has waited more than a decade to debut a new XC90, which was once the brand's best seller. Global sales of the XC90 fell 21 percent last year. Demand is not expected to rebound until the all-new XC90 goes on sale in early 2015.
Chrysler Group is reviving the Cherokee nameplate as part of plans to replace the Liberty SUV in Jeep's lineup. The move was announced Friday. The automaker had hoped to keep the mid-sized SUV -- and its name -- secret until a planned introduction at the New York auto show next month.
Bosch Chairman Volkmar Denner is happy that the supplier pulled out of its venture to develop and build lithium ion batteries last year. He says the market is over-saturated with too much capacity for lithium ion batteries.
VW Group forecast 2013 operating profit will match last year's level, as the shrinking auto market in Europe weighs on earnings. VW is targeting earnings in 2013 on the same level as the 11.5 billion euros earned last year.
Hourly car rental firm Zipcar, in the process of getting a new parent company, has selected Interpublic Group's Campbell Ewald, the former longtime Chevy ad agency, as its new global creative and brand strategy agency, the company said in a statement.
Volvo CEO Hakan Samuelsson is not happy that the automaker has waited more than a decade to introduce a new XC90, which was once the brand's best seller. Global sales of the XC90 fell 21 percent last year. Demand is not expected to rebound until the all-new XC90 goes on sale in early 2015.
Chinese automakers are about a decade away from being globally competitive and will have to increase their spending on research and development to close the gap, according to Sanford C. Bernstein & Co.
Honda is launching several organizational and management changes in Japan and the United States -- many of them intended to bolster its operations in North America as the region assumes a larger role in shaping Honda's global business.
President Obama won't back off demands that Japan ease barriers for U.S. automakers before joining negotiations for a regional Pacific trade agreement when he meets today with Japanese Prime Minister Shinzo Abe, White House aides said.
General Motors said it would invest $7.3 billion in its South Korean unit over the next five years -- an amount which will likely help relieve concerns that the U.S. automaker was set to reduce its presence in the country.
Two former Fiat advisers have been handed suspended jail sentences and fines by an Italian appeals court for misleading the market in a 2005 stock transaction that secured the Agnelli family's control of the carmaker.