Headlines for Thursday, May 2, 2013

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VIDEO: AutoNews Now: High-speed GM growth?

12:01 am U.S. ET | May 2, 2013
CEO touts in-car hotspots as revenue source; Honda expanding in Mexico; Toyota milestone in W.Va.; VW aiding D.C. mall.

French car sales decline slowed in April

May 2, 2013 10:38 CET
France's car sales decline slowed to a 5.2 percent drop in April, raising hopes that auto demand may be about to stabilize.

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

10:09 am U.S. ET | May 2, 2013
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.

VIDEO: First Shift: April winners, losers

12:01 am U.S. ET | May 2, 2013
Ram sizzles, industry's sales pace cools; GM nets $865M, takes historic step; Ford to hire 2,000 in Mo.; Ford's 'sideways' tech.

Dealer fears deepen as Italy car sales fall 11%

May 2, 2013 18:31 CET
New car sales in Italy fell 11 percent in April deepening worries that the market will show a big full-year drop..

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

4:10 pm U.S. ET | May 2, 2013
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.

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

7:30 am U.S. ET | May 2, 2013
General Motors' first quarter net profit dropped 14 percent, to $865 million, as profit in North America slipped and losses in Europe narrowed.

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

3:35 pm U.S. ET | May 2, 2013
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."

Alcoa plans to expand Tenn. plant to meet automotive demand

10:04 am U.S. ET | May 2, 2013
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.

Honda plans $470 million transmission plant in Mexico

2:11 pm U.S. ET | May 2, 2013
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.

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

1:37 pm U.S. ET | May 2, 2013
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.

Group 1 operating income rises on higher new-vehicle sales

10:40 am U.S. ET | May 2, 2013
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.

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

May 2, 2013 13:32 CET
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.

BMW Q1 profit drops as European plunge hits pricing

May 2, 2013 08:04 CET
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

PSA faces EU antitrust probe of restructuring plans

May 2, 2013 12:19 CET
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.

Aston Martin plans new products after completing investment deal

May 2, 2013 10:28 CET
Aston Martin said it will go ahead with a major product development program after completing a partnership with Italian private equity firm Investindustrial.

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

May 2, 2013 11:16 CET
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.

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

12:01 am U.S. ET | May 2, 2013
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.

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

May 2, 2013 06:01 CET
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.

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

May 2, 2013 09:59 CET
General Motors and PSA are studying an alliance to sell large commercial vans outside of Europe, a French newspaper said.

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