Henrik Fisker's congressional testimony on Wednesday before the House Oversight and Government Reform Committee will paint the automaker he founded as a victim of "a confluence of events" and as a still-salvageable enterprise.
Delphi Automotive and Continental both bid for Johnson Controls' automotive electronics unit, Bloomberg sources said. The supplier is considering the sale to free up cash and focus on more profitable divisions, such as car seats.
Green lobby group T&E has released a YouTube video that it hopes will put pressure on lawmakers to prevent them from weakening Europe's passenger-car CO2 target of 95 grams per kilometer for 2020. The trouble is that the video's message is difficult to understand.
Ford may post its highest first-quarter North American profit ever, the latest sign the automaker's comeback is gaining momentum. According to analyst estimates at Morgan Stanley and JPMorgan Chase, Ford probably earned a record $2.
Fiat could secure financing by May for a possible buyout of the rest of Chrysler, sources said. CEO Sergio Marchionne wants to merge the carmakers to create the world's seventh-largest auto group, tapping Chrysler's cash flow to offset Fiat's losses in Europe.
The Virginia Department of Motor Vehicles has rejected Tesla Motors' bid for a dealership license. In a ruling issued Monday, Virginia DMV Commissioner Richard Holcomb turned down Tesla's request, which dates back to March 16, 2012.
Federal regulators, moving to curb distracted driving, issued final voluntary safety guidelines today that would disable certain in-vehicle functions such as manual texting and video phoning while driving.
Pricing challenges and a slowdown in California in February put pressure on Sonic Automotive's profit margins during the first quarter. But the nation's third-largest dealership group bounced back to post a 4 percent increase in net income for the first quarter of 2013.
Gentex, a supplier of automotive rearview mirrors and related parts, reported a 2 percent decline in net profits for the first quarter, citing a decrease in vehicle production in Japan, Korea and Europe.
Delphi Automotive and Continental AG both bid for Johnson Controls' automotive electronics unit, people familiar with the matter told Bloomberg. Johnson Controls received first-round bids this month and is now setting up meetings with suitors such as Delphi and Continental, the report said.
In an effort to raise stuttering sales in India that far lag emerging Asian rival China, Mercedes, Audi and BMW are targeting young and female buyers outside the ultra-rich classes with small locally made cars.