Headlines for Tuesday, February 26, 2013

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Japanese brands continue to dominate Consumer Reports' rankings

12:45 pm U.S. ET | Feb. 26, 2013
Japanese brands, led by Lexus, Subaru and Mazda, continue to dominate Consumer Reports' rankings of the best light vehicles on the market, claiming “top pick” honors in seven out of 10 product segments and capturing the top seven spots for overall brand reliability and...


VW preps next-generation GTI for Geneva

6:00 pm U.S. ET | Feb. 26, 2013
Volkswagen plans to unveil the production version of the next-generation GTI hatchback at the Geneva Motor Show next week, giving the first glimpse of the high-performance Golf variant that will debut in Europe this May.

VIDEO: AutoNews Now: Honda comes roaring back

12:01 am U.S. ET | Feb. 26, 2013
Honda lands at top in three Consumer Reports categories, Detroit brands lag; damage control at Tesla; GM reveals CEO pay.

Hyundai agrees to settle U.S. lawsuits over fuel efficiency

6:04 pm U.S. ET | Feb. 26, 2013
Hyundai has agreed to settle consumer lawsuits stemming from overstated fuel economy ratings for some 600,000 Hyundai vehicles sold in the United States. Financial terms of the tentative deal were not disclosed in a filing made by consumer attorneys in U.S. District Court in Los Angeles on Tuesday.

Treasury should curb pay for bailed out companies, watchdog says

5:06 pm U.S. ET | Feb. 26, 2013
The Treasury Department should reevaluate total compensation for employees in companies that were bailed out and apply guidelines that will curb excessive pay, said Christy Romero, the special inspector general for the Troubled Asset Relief Program.

VIDEO: First Shift: U.S. 'safe port' for Europe?

12:01 am U.S. ET | Feb. 26, 2013
Snyder: Plus side of shifting output overseas; Nissan using Nismo brand to boost sporty image; GM stock nets U.S. $156M

GM paid CEO Akerson $11.1 million for 2012

3:51 pm U.S. ET | Feb. 26, 2013
General Motors paid CEO Dan Akerson $11.1 million last year, a GM official with knowledge of the matter said.

Repo-related American Recovery Assn., National Finance Adjusters merge

8:00 am U.S. ET | Feb. 26, 2013
The American Recovery Association, an association of remarketing and recovery professionals that specializes in locating and repossessing vehicles on behalf of lenders, has merged with National Finance Adjusters, an organization that specializes in education for collateral recovery and liquidation...

Tesla will accelerate repayment of U.S. loan, Musk says

4:24 pm U.S. ET | Feb. 26, 2013
Tesla Motors plans to repay its $465 million loan from the U.S. Department of Energy twice as quickly as planned, CEO Elon Musk said today.

Delphi initiates dividend to show confidence in business

8:19 am U.S. ET | Feb. 26, 2013
Delphi Automotive, the former parts unit of General Motors, initiated a dividend, its first since returning to the public markets after bankruptcy.

Nissan touts Nismo performance, wants more racing in U.S.

10:21 am U.S. ET | Feb. 26, 2013
Nissan aims to buff its sporty image with a gleaming new headquarters for its Nismo tuner sub-brand, a return to Le Mans with an electrified racer and plans for an even higher performance Nismo-badged GT-R sports car.

Toyota Prius being evaluated by NHTSA for steering-shaft concerns

1:41 pm U.S. ET | Feb. 26, 2013
The National Highway Traffic Safety Administration is looking into whether steering shafts in Toyota Prius models spanning from 2004 through 2009 model years are defective.

Audi will boost German output further on U.S. demand

Feb. 26, 2013 16:46 CET
Audi will further expand production at its two German factories, citing stable demand for luxury vehicles especially from the United States.


EV nor not? Nissan tiptoes around Le Mans question

8:08 am U.S. ET | Feb. 26, 2013
Nissan just announced it will return to the 24 Hours of Le Mans endurance race with a car sporting the brand's signature “electric powertrain.” But is it really a pure electric vehicle, such as the Leaf -- boasting the technology Nissan has staked its reputation on?

Geely to invest 116 million euros in cab maker

Feb. 26, 2013 10:34 CET
Zhejiang Geely will invest 100 million pounds (115.8 million euros) in London black cab maker Manganese Bronze in the next five years as part of plans to make the company profitable.

PSA-Changan JV appoints new president

Feb. 26, 2013 13:34 CET
Gilles Boussac is the new president of Changan PSA. For the past four years, Boussac has been an executive vice president at another PSA China joint venture, Dongfeng Peugeot Citroen Automobiles.

Volkswagen gov't subsidy probe dropped by EU

Feb. 26, 2013 12:34 CET
The EU has dropped a probe into aid given to Volkswagen by Germany after the government reduced the planned subsidy for the automaker, the European Commission said today.

PSA sees China turning into biggest market as Europe weakens

Feb. 26, 2013 06:01 CET
PSA predicts China will overtake France as its biggest market as early as 2015. The automaker expects to boost sales in China this year by 22 percent to 540,000 vehicles.

Sogefi's 2012 net profit up 22% on N. America growth

Feb. 26, 2013 13:16 CET
talian car parts supplier Sogefi said on Tuesday its full year 2012 profit rose 22 percent to 29.3 million euros as growth at its North American operations powered sales.


McLaren will build 375 units of Ferrari rival

Feb. 26, 2013 14:19 CET
McLaren said it will build just 375 units of its flagship P1 supercar that debuts at the Geneva auto show. The P1 will compete with Ferrari's Enzo successor that also debuts in Geneva.


Fiat adds SUV styling to the 500L minivan

Feb. 26, 2013 14:00 CET
Fiat will give the 500L Trekking a European debut at the Geneva auto show. The new car will compete in Europe against subcompact SUVs such as the Opel/Vauxhall Mokka, Ford EcoSport, Peugeot 2008 and Renault Captur.

Toyota to expand Russia lineup with U.S.-made Venza

Feb. 26, 2013 13:34 CET
Toyota will expand its model lineups in Russia and Ukraine by adding the U.S.-built Venza to the mix. The world's largest automaker will begin shipments of the wagon later this year as a way to generate added revenue for its U.S. operations.

GKN looks to U.S., Asia to offset weak European car demand in 2013

Feb. 26, 2013 12:49 CET
UK partsmaker GKN predicted another gloomy year for Europe's recession-hit car markets, saying the company would have to rely on the United States and Asia for growth again this year. In 2012, group pretax profit rose 19 percent to 497 million pounds ($751 million), the company said on Tuesday.

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