Headlines for Thursday, April 25, 2013

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VIDEO: AutoNews Now: New Leaf pitch: Save cash

12:01 am U.S. ET | April 25, 2013
Nissan moving beyond appeal to environmentally conscious; Akerson's April outlook; Source of VW's 'turmoil'; China EV deal.

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

3:37 pm U.S. ET | April 25, 2013
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.

VIDEO: First Shift: 120 dealerships sue Carfax

12:01 am U.S. ET | April 25, 2013
Suit alleges anti-competitive practices; Fiat's next Chrysler move?; Fisker, DOE under fire; Detroit 3 going big on CNG.

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

2:10 pm U.S. ET | April 25, 2013
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.

U.S. suppliers take Q1 hit from European downturn

April 25, 2013 18:21 CET
Economic troubles in Europe cut into the first-quarter earnings of U.S. suppliers Lear, BorgWarner and Dana.

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

April 25, 2013 17:53 CET
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.

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

3:44 pm U.S. ET | April 25, 2013
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.

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

4:09 pm U.S. ET | April 25, 2013
Geely Automobile Group and startup automaker Detroit Electric have agreed to develop electric vehicles and electric drivetrains for sale in China.

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

11:53 am U.S. ET | April 25, 2013
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.


Why ADP Digital Marketing became GM's neighbor in Detroit

2:32 pm U.S. ET | April 25, 2013
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.

U.S. suppliers take Q1 hit from European downturn

12:21 pm U.S. ET | April 25, 2013
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.

VW, board member Garcia Sanz under investigation

April 25, 2013 12:34 CET
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.

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

April 25, 2013 18:10 CET
GM's Opel division is against giving workers another vote on a restructuring deal at the automaker's embattled plant in Bochum, Germany.

VW says 2013 will be tough, eyes H2 upturn

April 25, 2013 10:34 CET
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.

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

12:01 am U.S. ET | April 25, 2013
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.

Skoda aims to double sales in China by 2018

April 25, 2013 15:42 CET
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.

Schaeffler said to consider 2014 initial public offering

April 25, 2013 13:04 CET
German supplier Schaeffler is exploring an initial public offering next year in Germany, three people familiar with the matter said.

Hyundai Q1 net profit falls on home output drop, currencies

April 25, 2013 08:32 CET
Hyundai posted a 15 percent fall in quarterly net profit as it was hamstrung by weekend production stoppages and unfavorable currency moves.

EU politicians back compromise on car emission targets

April 25, 2013 09:07 CET
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.

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

April 25, 2013 06:01 CET
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.

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

April 25, 2013 06:01 CET
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.

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