A boutique carmaker led by a former GM executive Bob Lutz and China's largest auto parts supplier submitted an offer of $20 million to buy cash-strapped automaker Fisker Automotive, people familiar with the matter told Reuters today.
Two executives at Toyota-affiliated supplier Denso have agreed to plead guilty to conspiring to fix prices and have agreed to cooperate with an ongoing criminal investigation, the federal Justice Department said today.
Major automakers and auto dealers told a Senate panel Tuesday that they remain opposed to legislation that would prohibit rental car companies from renting or selling vehicles that are subject to a federal safety recall.
Car dealers were recovering from damage and organizing aid to survivors today after a two-mile-wide tornado ravaged an Oklahoma City suburb, but there were no reports of the massive twister directly hitting dealerships.
Two congressmen -- one a former Ohio auto dealer and the other a Pennsylvania new- and used-car dealer -- have asked the U.S. Treasury Department to release materials detailing how General Motors and Chrysler dealerships were selected for closure during the 2008-09 restructuring.
Mike Siegrest, a 35-year General Motors veteran, briefly worked on the failed Oldsmobile diesel V-8 from the 1980s. Now, he and his team are equipping GM's first diesel car since that decade: the 2014 Chevy Cruze diesel. It arrives in showrooms in June.
The decline in French car orders slowed to 0.5 percent in April, showing signs of stabilization in the auto market, according to a dealership survey by trade publication La Lettre Auto K7. The survey said orders were helped by the launch of several new models last month.
Magneti Marelli has opened a plant in the southern China city of Foshan to produce rear lights, headlamps and other lighting components. The company aims to secure a 10 percent share of China's lighting market in the midterm.
German supplier Schaeffler has confirmed its annual forecast for revenue growth of about four percent and an operating profit margin of approximately 13 percent, despite a drop in first-quarter revenue of 3.6 percent to 2.8 billion euros ($3.6 billion).
Automotive News Europe salutes the winners of the 2013 Rising Stars awards. Every day until June 12 one of the 18 winners will be featured. Today's Rising Star is Nick Collins, Ford of Europe's global vehicle line director for the B segment.