Daimler is likely to cut its 2013 profit outlook when it reports first-quarter earnings later this month amid weak demand, especially in Europe. "Not much tailwind is anticipated from the markets in the coming months.
Nissan plans to move production of the Primastar van from Spain to Renault's Sandouville plant in France, sources said, helping its French alliance partner keep a pledge to raise domestic output in return for union concessions.
Ford, which wants the U.S. government to align vehicle standards with those of the EU, has enlisted a longtime ally in its campaign: U.S. politician John Dingell, who is known for his ardent backing of the domestic auto industry.
On the eve of a Washington forum, a growing number of engineers say the lithium ion battery revolution in cars and other products has stalled, undercut by high costs, technical complexity and safety concerns.
Ford Motor Co., which wants the federal government to align U.S. vehicle standards with those of the European Union, has enlisted a longtime ally in its campaign: U.S. Rep. John Dingell, the 29-term Michigan Democrat known for his ardent backing of the domestic auto industry.
General Motors said it will invest 4 billion euros ($5.2 billion) in Opel to support new model launches, renewing its commitment to its European division. Opel plans to introduce 23 new or refreshed models and 13 new powertrains by 2016.
A House panel chairman said he'll accelerate a probe into the Energy Department's loans for alternative-fuel vehicles after Fisker Automotive dismissed most of its workers and hired bankruptcy lawyers.
Renault's Dacia unit may shift output to cheaper sites in Morocco if a pay conflict in Romania escalates. Workers at Dacia's assembly plant went on strike for two days demanding a 40 percent pay increase.
Jeffrey Nelson was able to put up a shotgun as down payment on a car. At car dealers across the United States, loans to subprime borrowers like him are surging. Subprime auto lenders are showing up in a lot of personal bankruptcy filings, too. The Federal Reserve has made it all possible.
With a single transaction last week, Ally Financial and GM Financial took giant steps in opposite directions. Ally got somewhat smaller and much more local; GM Financial got a lot bigger and much more international.
Mitsubishi will extend its production and shipment stoppage of its Outlander plug-in hybrids until it finds the cause of an overheating lithium-ion battery in one of the vehicles, the automaker said today.
Polish car production fell an annual 24 percent in the first quarter following a decision by Fiat to transfer output of its best-selling Panda minicar from Poland to Italy and layoff workers at its Tychy factory.