Headlines for Friday, May 10, 2013

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LUCA CIFERRI

Europe will end 18-month sales slump with positive April

12:01 am U.S. ET | May 10, 2013
Strong April UK car sales and a solid rebound in Germany last month will help western Europe end 18 consecutive months of year-on-year declines, analysts predict. Despite this, market watchers have stopped short of saying Europe is on the verge of an extended turnaround.

VIDEO: AutoNews Now: Diving into driverless future

12:01 am U.S. ET | May 10, 2013
Technology pushes cars toward full autonomy, but not everybody's happy; Look, no wires either; Lapham: Ford's idle-stock talk.

Ghosn sees more tough times in Europe; record global sales for Nissan

May 10, 2013 13:35 CET
Renault-Nissan CEO Carlos Ghosn said that while he expects Nissan's global retail sales to reach a record this year, he doesn't see any growth in Europe before 2016.

Honeywell chooses Hahn to head auto division

May 10, 2013 12:53 CET
Honeywell has named Terrence Hahn president and CEO of its Transportation Systems division, which is a leading maker of turbocharges that counts on Europe for more than half its sales. He starts May 20.

Corvettes from 2005-2007 being probed over headlight problems

10:21 am U.S. ET | May 10, 2013
Federal auto safety regulators have launched a preliminary investigation into the Chevrolet Corvette from model years 2005 to 2007, citing dozens of complaints that the car's headlights can turn themselves off without warning.

Porsche unit names Joe Lawrence as new COO for U.S.

May 10, 2013 21:02 CET
Porsche Cars North America is bringing in Joe Lawrence, CEO of Canadian operations, to take over as chief operating officer in the United States, the company's largest market.

Airbag supplier Takata names first foreign president

May 10, 2013 19:25 CET
Japan's Takata, reeling from its role in a global airbag recall, said today it will replace its president with Swiss national Stefan Stocker, the first foreigner in the post.

N.J. dealership sues Chrysler to prevent franchise terminations

12:03 pm U.S. ET | May 10, 2013
A Chrysler Group dealership in central New Jersey has filed a lawsuit to halt the automaker's efforts to terminate the dealership's franchises for failing to improve to factory standards.

Colorado franchise bill headed to governor

3:37 pm U.S. ET | May 10, 2013
Dealer-backed legislation introduced last month in Colorado to significant manufacturer opposition has passed the state Legislature and is headed to the governor.

Magna stock hits record high as Q1 profits improve, forecast rises

9:56 am U.S. ET | May 10, 2013
Magna International shares hit a record high today as the Canadian supplier hiked its full-year sales forecasts after posting a better-than-expected profit and a 9 percent rise in revenue in the first quarter.

Penske raises dividend 7%

3:52 pm U.S. ET | May 10, 2013
Penske Automotive Group increased its quarterly dividend by 7 percent, to 15 cents per share, for the first quarter, the company announced today.

NLRB likely to certify UAW to represent Flex-N-Gate workers at Texas plant

3:48 pm U.S. ET | May 10, 2013
The National Labor Relations Board likely will issue a certification today confirming the UAW as bargaining representative for hourly workers at a Flex-N-Gate Corp. plant in Arlington, Texas.

Porsche unit names Joe Lawrence as new COO for U.S.

3:02 pm U.S. ET | May 10, 2013
Porsche Cars North America is bringing in Joe Lawrence, CEO of Canadian operations, to take over as COO in the United States, the company's largest market.

Hyundai mulls 4th China plant, vice chairman says

2:31 am U.S. ET | May 10, 2013
Hyundai Motor is considering building a fourth car plant in China, its vice chairman said today, as the company seeks to increase production overseas to counter the effect of a firm local currency, a falling yen, and labor issues.

Airbag supplier Takata names first foreign president

1:25 pm U.S. ET | May 10, 2013
Japan's Takata, reeling from its role in a global airbag recall, said today it will replace its president with Swiss national Stefan Stocker, the first foreigner in the post.

Nissan debuts new corporate logo

12:33 pm U.S. ET | May 10, 2013
Nissan Motor Co. has gone buttoned-down with a new steel-blue logo that spells out -- literally -- the distinction between Nissan the company and Nissan the brand.

DAVE GUILFORD

Next hurdle for hot Tesla is pushing EVs mainstream

11:47 am U.S. ET | May 10, 2013
Tesla has had one hell of a week. It reported its first quarterly profit. It's brainstorming self-guided cars with Google. The stock is sizzling.

Renault-Nissan parts warehouse in India nearly destroyed by fire

May 10, 2013 06:01 CET
A major warehouse supplying parts to a Renault-Nissan plant in India was almost destroyed by fire early on Thursday, but the incident is unlikely to affect alliance operations in the country, Nissan said today.

Nissan Q4 profit jumps 46%

May 10, 2013 10:54 CET
Nissan today reported a 46.1 percent rise in its quarterly net profit to 110 billion yen ($1.11 billion).

Longtime supplier exec McClure out as Meritor CEO

May 10, 2013 06:01 CET
Longtime auto supplier executive Charles "Chip" McClure has departed as chairman, CEO and president of commercial truck supplier Meritor.

VIDEO: First Shift: China's drag on Nissan

12:01 am U.S. ET | May 10, 2013
Annual profit barely up, but quarterly net grows 46%; Bill Ford urges investor patience; Jeep dealer finds a custom solution.

Audi's tight U.S. supply, fast turn rate lift dealer profitability

May 10, 2013 06:01 CET
Audi of America President Scott Keogh is presiding over a brand with momentum, with U.S. sales up 16 percent through April and a batch of new vehicles launched or on tap. Keogh, 44, became president of Audi of America in June, a promotion from chief marketing officer.

Infiniti names veteran powertrain engineer as head product planner

May 10, 2013 06:01 CET
Infiniti has named powertrain specialist Toshihiro Hirai as global head of product planning as it tries to strengthen the marque's identity.

Bosch launches residential EV charger in U.S. for under $450

May 10, 2013 06:01 CET
A unit of German supplier Robert Bosch GmbH said it will begin selling an electric-vehicle residential charging station in the United States for a retail price below $450.

Visteon reports $69 million profit for first quarter

May 10, 2013 06:01 CET
Visteon, the restructured electronics and climate controls supplier, reported major gains in first-quarter profits and revenue on higher vehicle production in Asia and North America.

Mercedes USA CEO: Customer service will be 'my legacy'

May 10, 2013 06:01 CET
Mercedes-Benz USA CEO Steve Cannon says customer service will be "the next major battlefield for all luxury manufacturers" and will be Cannon's main priority over the next five years.

Tesla CEO talking with Google about 'autopilot' systems

May 10, 2013 06:01 CET
Tesla CEO Elon Musk said the electric-car maker is considering adding driverless technology to its vehicles and discussing the prospects for such systems with Google Inc.

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