Headlines for Tuesday, April 23, 2013

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VIDEO: AutoNews Now: Redefining 'domestic' content

12:01 am U.S. ET | April 23, 2013
New index tracks economic impact of buyers' choices; feds dig in on distraction; rivals bid for JCI unit; Ford earnings preview.

Ford hybrid owners sue over fuel-efficiency rating claims

10:44 pm U.S. ET | April 23, 2013
Ford was sued by Pennsylvania car owners who said its hybrid models don’t deliver on fuel-efficiency claims.

Henrik Fisker: 'Confluence of events' led to company's downfall

3:29 pm U.S. ET | April 23, 2013
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, Continental bid for Johnson Controls' auto electronics unit, report says

April 23, 2013 19:00 CET
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.

VW exec Muir will move to top sales post from Seat, report says

April 23, 2013 06:01 CET
VW executive James Muir, who is being replaced as head of the struggling Seat brand, will get a top sales job with VW Group, a report said.

DOUGLAS A. BOLDUC

Green group spills oil; makes confusing point on CO2

12:01 am U.S. ET | April 23, 2013
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.

VIDEO: First Shift: U.S. seizes Fisker cash

12:01 am U.S. ET | April 23, 2013
Feds recoup $21 million; Chinese automaker plans U.S. entry; Sharapova to pitch for Porsche; lessons from a tragedy.

LATEST LAUNCHES

Renault Captur joins crowded segment

April 23, 2013 12:56 CET
Renault hopes a spacious interior and a competitive price will help the Captur win buyers in Europe's fast-growing small SUV segment.

Daimler said to plan transmission plant in Romania

April 23, 2013 09:21 CET
Daimler plans a large investment to build transmission components in Romania at the site of an existing joint venture, a German newspaper reported.

Ford may post record Q1 profits in North America, analysts say

7:15 am U.S. ET | April 23, 2013
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 close to securing financing for Chrysler buyout, report says

April 23, 2013 21:02 CET
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.

U.S. union leader prods Opel workers to keep German plant open

April 23, 2013 23:19 CET
Workers at Opel's factory in Bochum, Germany, should accept a deal they previously rejected to keep their jobs, Bob King, the head of the U.S.-based United Auto Workers union, said.

UAW's King prods Opel workers to revote, keep German plant open

5:19 pm U.S. ET | April 23, 2013
The head of the UAW suggested German hourly workers at a General Motors plant should accept a deal they previously rejected in order to keep their jobs.

Tesla store license rejected by Virginia

4:28 pm U.S. ET | April 23, 2013
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.

NHTSA recommends disabling built-in texting, Web browsing

1:50 pm U.S. ET | April 23, 2013
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.

Sonic gets over Feb. hiccups to see Q1 profit gains

10:53 am U.S. ET | April 23, 2013
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.

Mitsubishi to revamp Japan plant; capacity cuts expected

3:40 pm U.S. ET | April 23, 2013
Mitsubishi Motors plans to unveil a restructuring plan for its flagship Mizushima assembly plant in Japan on Thursday, a spokesman said today.

Fiat close to securing financing for Chrysler buyout, report says

3:02 pm U.S. ET | April 23, 2013
Fiat could secure financing by May for a possible buyout of the rest of Chrysler, two people familiar with the matter told Reuters today.

Gentex earnings drop 2% in first quarter

1:27 pm U.S. ET | April 23, 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, Continental bid for Johnson Controls' auto electronics unit, report says

1:00 pm U.S. ET | April 23, 2013
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.

DUSTIN WALSH

A name change to 456 as easy as 123? Not quite

12:01 pm U.S. ET | April 23, 2013
On March 22, A123 Systems Incorporated became B456 Systems Incorporated. But confusion followed the announcement and continues to follow the battery maker in the wake of its bankruptcy.

Johnson Controls posts lower quarterly profit, reaffirms 2013 outlook

10:22 am U.S. ET | April 23, 2013
Johnson Controls, citing weaker automotive production in Europe, posted lower profits during its most recent quarter, but reaffirmed its financial outlook for the year.

Spain's Gestamp opens China parts factory

April 23, 2013 13:32 CET
Spanish supplier Gestamp has opened its sixth China plant. The new factory is in the northeast city of Shenyang and will to supply carmakers in the region including BMW, VW, Daimler, Hyundai and GM.

Mercedes, BMW, Audi chase young, female, frugal customers in India

April 23, 2013 12:11 CET
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.

Faurecia Q1 revenue rises as N. America, Asia sales offset weak Europe

April 23, 2013 08:34 CET
French supplier Faurecia said today that first-quarter revenue rose 1.7 percent as growing sales in North America and Asia helped offset the slowdown in European markets.

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