Headlines for Thursday, April 25, 2013

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AutoNews Now: New Leaf pitch: Save cash

Nissan moving beyond appeal to environmentally conscious; Akerson's April outlook; Source of VW's 'turmoil'; China EV deal. Read More »


Hyundai apologizes for U.K. commercial that depicts suicide attempt

Hyundai apologized for a spot, created by the agency Innocean Europe for use in the United Kingdom, showing a suicide attempt failing because the vehicle, the ix35 crossover, did not produce any harmful emissions. Read More »


First Shift: 120 dealerships sue Carfax

Suit alleges anti-competitive practices; Fiat's next Chrysler move?; Fisker, DOE under fire; Detroit 3 going big on CNG. Read More »


GM changes Akerson's pay mix, saying he may retire within 3 years

GM CEO Dan Akerson's compensation mix was changed in 2012 to accommodate the possibility he may retire before his long-term restricted stock vests in three years, the company said. Read More »

U.S. suppliers take Q1 hit from European downturn

Economic troubles in Europe cut into the first-quarter earnings of U.S. suppliers Lear, BorgWarner and Dana. Read More »


Fiat may have to pay union trust fund more for Chrysler shares, judge suggests

Fiat may have to pay more than its $139.7 million offer for Chrysler Group shares that the automaker wants to buy from the United Auto Workers' retiree health-care trust, a judge suggested. Read More »


Mitsubishi forecasts record profit on favorable yen, rising U.S. sales

Mitsubishi today forecast its operating profits will jump 48 percent in the fiscal year that began April 1, lifted by a favorable yen exchange rate as well as an anticipated sales surge in the United States. Read More »


Detroit Electric, Geely to develop EVs, electric drivetrains for China

Geely Automobile Group and startup automaker Detroit Electric have agreed to develop electric vehicles and electric drivetrains for sale in China. Read More »


Fiat may have to pay UAW trust fund more for Chrysler shares, judge suggests

Fiat may have to pay more than its original offer of about $140 million for Chrysler Group shares being bought from the UAW's retiree health-care trust, a Delaware judge suggested in court today. Read More »


Why ADP Digital Marketing became GM's neighbor in Detroit

ADP Dealer Services is looking for goodwill and good designers (not necessarily in that order) in deciding to open a digital marketing innovation office in downtown Detroit. The company is the largest provider of dealer management systems in the country. Read More »

U.S. suppliers take Q1 hit from European downturn

Economic troubles in Europe cut into the first-quarter earnings of three major suppliers based in the United States that reported their financials today -- Lear, BorgWarner and Dana. Read More »


VW, board member Garcia Sanz under investigation

VW Group and management board member Francisco Javier Garcia Sanz are under investigation by German prosecutors over allegations they failed to prevent corruption at the company. Read More »


Opel rejects new vote for Bochum workers on plant's restructuring

GM's Opel division is against giving workers another vote on a restructuring deal at the automaker's embattled plant in Bochum, Germany. Read More »


VW says 2013 will be tough, eyes H2 upturn

VW Group is bracing itself for a tough year ahead, though the automaker believes business may improve in the second half as non-European markets keep growing. The automaker plans to tap into these markets by adding an additional 1,500 sales outlets in the medium term. Read More »


Accavitti sees American Honda's U.S. sales rising 6% in April

Honda's sales in the United States should increase by more than 6 percent in April, a top executive said Wednesday. Separately, GM CEO Dan Akerson said he sees April sales rising at a similar rate as the previous month, when they increased 3 percent. Read More »


Skoda aims to double sales in China by 2018

Skoda aims to double its sales in China to 500,000 vehicles within five years as part of a push to raise annual global deliveries to at least 1.5 million cars by 2018, up from a record 939,200 vehicles in 2012. Read More »

Schaeffler said to consider 2014 initial public offering

German supplier Schaeffler is exploring an initial public offering next year in Germany, three people familiar with the matter said. Read More »


Hyundai Q1 net profit falls on home output drop, currencies

Hyundai posted a 15 percent fall in quarterly net profit as it was hamstrung by weekend production stoppages and unfavorable currency moves. Read More »


EU politicians back compromise on car emission targets

EU politicians have backed a compromise deal to reduce car emissions to 95g/km starting in 2020, while calling for moves to further reduce this to 68g/km to 78g/km by 2025. Read More »


Ford predicts higher Q2 output in Europe, N.A.

Ford's European production will rise 6 percent in the second quarter from year-earlier levels, to 390,000 units, after falling 8 percent in the first quarter to 386,000. Read More »


Valeo Q1 sales edge higher as China, N.A. demand offsets Europe weakness

French supplier Valeo said first-quarter sales rose slightly as demand in China and North America helped offset a slump in Europe's car markets. Read More »

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