Chrysler Group may get an upgrade in its credit rating in the next 12 months, said Standard and Poor's, which raised Chrysler's outlook Tuesday to "positive" from "stable." S&P changed its outlook on the company to positive even after Chrysler posted a 65-percent drop in first quarter profit.
The cost of a completed hydrogen fuel cell vehicle today is 1/20th of what it was when current prototypes were being developed, Toyota says, paving the way for a workable business model and improved sales prospects.
Platinum Equity, a California private equity firm controlled by Detroit Pistons owner Tom Gores, said it has merged two of its Michigan automotive suppliers. Diversified Machine and SMW Automotive, both under the Platinum Equity portfolio, are now Chassix.
Older model Ford Crown Victoria police cars are the focus of an upgraded defect investigation by federal safety regulators, the National Highway Traffic Safety Administration said today. The agency also said it taking preliminary looks at the Porsche 911 and Dodge Viper sports cars.
Federal prosecutors have sent subpoenas to Tesla Motors asking for documents and e-mails relating to a trading plan that allows executives to sell company stock, The Wall Street Journal said today, citing a person familiar with the probe.
PSA has received the backing of five of its six main unions to push ahead with plans to eliminate 11,200 jobs and shutter a French factory, a central part of wide-ranging reforms at the French carmaker aimed at halting ongoing losses.
Porsche SE, the family-owned company that controls a majority stake in Volkswagen, remains confident of success in lawsuits in a German court over alleged market manipulation during a failed takeover of VW in 2008.