Headlines for Thursday, May 2, 2013

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AutoNews Now: High-speed GM growth?

CEO touts in-car hotspots as revenue source; Honda expanding in Mexico; Toyota milestone in W.Va.; VW aiding D.C. mall. Read More »


French car sales decline slowed in April

France's car sales decline slowed to a 5.2 percent drop in April, raising hopes that auto demand may be about to stabilize. Read More »

ADESA parent KAR's Q1 profit rose 12% to $29 million

KAR Auction Services, parent company of vehicle-auction company ADESA, said its first-quarter net income rose 12 percent to $29 million on a 10 percent increase in revenue, to $558 million. Read More »


First Shift: April winners, losers

Ram sizzles, industry's sales pace cools; GM nets $865M, takes historic step; Ford to hire 2,000 in Mo.; Ford's 'sideways' tech. Read More »


Dealer fears deepen as Italy car sales fall 11%

New car sales in Italy fell 11 percent in April deepening worries that the market will show a big full-year drop.. Read More »


Flex-N-Gate workers in Texas vote to join UAW

Hourly workers at a Flex-N-Gate plant in Arlington, Texas, voted to join the UAW on Wednesday. Of the 73 employees eligible to vote, 51 voted in favor of union representation and 22 opposed, the National Labor Relations Board said today. The NLRB conducted the election. Read More »


GM's Q1 net falls 14% on N.A. decline

General Motors' first quarter net profit dropped 14 percent, to $865 million, as profit in North America slipped and losses in Europe narrowed. Read More »


GM to buy historic Durant-Dort buildings in Flint, Mich.

General Motors has agreed to buy the original Durant-Dort Carriage Company factory in Flint, Mich., a site GM North America President Mark Reuss calls "the birthplace of GM." Read More »


Alcoa plans to expand Tenn. plant to meet automotive demand

Alcoa, the nation's largest aluminum producer, will expand a plant in Tennessee to meet increasing demand for the lightweight metal in cars and trucks. Read More »


Honda plans $470 million transmission plant in Mexico

Honda plans to build a $470 million factory in Celaya, Mexico, to assemble continuously variable transmissions. The factory will operate alongside a plant under construction that's scheduled to build the next-generation Fit hatchback and a Fit-based crossover. Read More »


AutoNation's new-vehicle sales rose 10% in April

Driven by a domestic-brand sales surge, AutoNation, the nation's largest dealership group, reported a 10 percent gain in new-vehicle sales in April. Read More »


Group 1 operating income rises on higher new-vehicle sales

Higher new-vehicle sales and increased gross profits in all business segments drove Group 1 Automotive's operating income higher during the first quarter of 2012, but net income dropped 4 percent. Read More »


GM's Europe loss narrows; overall Q1 profit drops 14%

GM's first-quarter net profit dropped 14 percent as profits in North America slipped and losses in Europe eased. European losses narrowed because of cost cuts and strong demand for new models, GM CEO Dan Akerson said. Read More »


BMW Q1 profit drops as European plunge hits pricing

BMW reported a 4.5 percent drop in first-quarter profit as the plunging European market pushed car prices lower. The company maintained its target for 2013 pretax profit on the same level as last year as rising demand in China and the U.S. helps to offset Europe's weak market Read More »


PSA faces EU antitrust probe of restructuring plans

EU antitrust regulators are investigating whether a 7 billion-euro ($9.24 billion) guarantee to PSA complies with state aid rules and also ensures the automaker's long-term viability. Read More »


Aston Martin plans new products after completing investment deal

Aston Martin said it will go ahead with a major product development program after completing a partnership with Italian private equity firm Investindustrial. Read More »


BMW CEO says Europe needs at least 5 years to solve debt crisis

BMW's boss expects European governments to need at least five more years to overcome the region's protracted debt crisis. "I don't think that's a pessimistic assumption," CEO Norbert Reithofer said on Thursday during a conference call to discuss first-quarter results. Read More »


Ford to add 2,000 jobs, raise F-150 capacity at Kansas City plant

Ford plans to hire an additional 2,000 workers at its Kansas City Assembly Plant to meet increased demand for F-150 pickups and for the upcoming production of the new Transit family of commercial vehicles. Read More »


Delphi Q1 profit drops as sales fall in Europe, N.A.

Delphi Automotive reported a 20 percent drop in first-quarter profit as lower sales in Europe and North America more than offset gains in Asia and South America. Read More »

GM, PSA study alliance on vans outside Europe, report says

General Motors and PSA are studying an alliance to sell large commercial vans outside of Europe, a French newspaper said. Read More »

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