Headlines for Wednesday, June 26, 2013

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VIDEO: AutoNews Now: Ford ties, but no free rides

12:01 am U.S. ET | June 26, 2013
Seven descendants of Henry Ford working at the family firm; GM's Akerson: No backsliding on quality; Mazda3 coming in fall.

Opel strategy chief Sedran will head Chevrolet Europe

June 26, 2013 11:57 CET
Opel strategy chief Thomas Sedran will be the new head of Chevrolet and Cadillac in Europe. Sedran faces a tough task boosting Chevrolet's falling sales in the crisis-hit region.

Opel names former consumer goods exec Mueller to run marketing

June 26, 2013 12:34 CET
Opel named Tina Mueller, a former Henkel executive, to run the brand's marketing. Mueller's experience in the brand-driven consumer goods industry will have a major impact on the automaker, the company said

W.Va. dealer challenges feds on Obamacare mandate

4:19 pm U.S. ET | June 26, 2013
A West Virginia Chevy dealer is suing several federal departments and administrators responsible for the Affordable Care Act, alleging the law violates his beliefs by requiring him to provide insurance coverage for contraceptives taken after sex.

Germany seeks to block EU auto CO2 emissions deal, sources say

June 26, 2013 17:39 CET
Germany is working to block a compromise deal that would impose a tougher CO2 emissions limit for all new cars in the European Union starting in 2020.

VIDEO: First Shift: Dealer's 'abortion pill' protest

12:01 am U.S. ET | June 26, 2013
'Faith-based' Chevy store sues over insurance law; Mulally takes Japan fight to D.C.; Toyota's space robot; Caddy XTS turbo.

Akerson warns GM employees not to 'backslide' on quality

11:24 am U.S. ET | June 26, 2013
General Motors CEO Dan Akerson today warned employees not to "backslide" on quality, a week after the automaker topped a benchmark quality ranking for the first time. Akerson also promoted Alicia Boler-Davis to senior vice president, heading up global quality and customer experience.

Bill Ford nearly doubles stake in Ford's supervoting shares

10:24 pm U.S. ET | June 26, 2013
Bill Ford Jr., executive chairman of Ford Motor, nearly doubled his holdings in a special class of supervoting shares that gives the Ford family more sway over the automaker's direction.

GM plans to invest $691 million for Mexican expansion

3:32 pm U.S. ET | June 26, 2013
GM outlined plans on Wednesday for investing $691 million to expand its Mexican operations, including the previously unannounced expansion of its Toluca engine plant.

Cadillac gets new design chief; Adams returns to Europe

5:58 pm U.S. ET | June 26, 2013
GM is shuffling its design executives for the second time in a year, promoting the lead designer for the Holden brand in Australia to the top design job at Cadillac and Buick.

Bill blocking Tesla Web sales on hold in N.C. Legislature

5:52 pm U.S. ET | June 26, 2013
Legislation that would block Tesla Motors from using the Internet to sell its electric cars in North Carolina is on the back burner for now. But a legislative maneuver has cleared the way for a vote on other dealer-franchise matters.

Mazda: Revamped 2014 Mazda3 to lead compact segment in mpg

10:49 am U.S. ET | June 26, 2013
Mazda's next-generation Mazda3, equipped with its full set of technologies developed to reduce weight and enhance fuel efficiency, will top the compact segment in fuel economy when it goes on sale in the United States in September, the automaker said today.

Nissan spurned by Ohio court in dealer termination case

4:09 pm U.S. ET | June 26, 2013
A state appeals court in Ohio has sided with a local Nissan dealer's argument that Chevrolet's unusual popularity in his market makes Nissan's sales expectations for him unrealistic.

New Hampshire dealer bill signed into law

2:52 pm U.S. ET | June 26, 2013
Over automakers' objections, New Hampshire Governor Maggie Hassan has signed into law legislation that dealers in the state say will bolster protections from factory controls, particularly in the areas of dealership renovations and warranty work payments.


Why the Corolla is so popular -- even in Afghanistan

12:35 pm U.S. ET | June 26, 2013
No doubt about it, Americans love the Toyota Corolla. But there's one place that might adore the car even more: Afghanistan.

Lending bias guidelines 'unrealistic,' Republicans tell CFPB

12:01 am U.S. ET | June 26, 2013
Auto lending reforms sought by the Consumer Financial Protection Bureau could hurt consumers, congressional Republicans are warning.


Industry will lose respected opponent when Hackett exits CFPB

12:01 am U.S. ET | June 26, 2013
Groups representing auto lenders and dealers don't like much about the Consumer Financial Protection Bureau. But at least they knew there was somebody at the CFPB who had walked a mile in their shoes: Assistant Director Rick Hackett. Now Hackett has said he's leaving.

Deep subprime lending continues to thaw

12:01 am U.S. ET | June 26, 2013
Deep subprime lending is finally in recovery mode. The deep subprime category accounted for 11 percent of all outstanding auto loans in the first quarter of 2013, up slightly from 10.7 percent a year earlier, Experian says.

Delinquencies up as subprime, loan amounts grow

12:01 am U.S. ET | June 26, 2013
The rise in auto loan delinquencies in the first quarter reflects ongoing growth in subprime and an increase in the amount consumers are borrowing, credit bureau TransUnion said this week.

A tip on selling F&I to Gen Y

12:01 am U.S. ET | June 26, 2013
Here's a highlight from this month's Automotive News F&I Week. Replays of all six Webinars from the online conference are available for free at fandiweek.com.


Why women make good F&I managers

12:01 am U.S. ET | June 26, 2013
Why should there be more women behind the F&I desk at dealerships? The biggest reason is that they connect better with other women, especially female customers, said speakers this month during Automotive News F&I Week, a series of six Webinars.

Nexteer delays $325 million stock offering in Hong Kong, report says

10:04 am U.S. ET | June 26, 2013
Nexteer Automotive Group, the Michigan auto supplier controlled by China’s biggest aerospace company, postponed an initial public offering in Hong Kong, two people with knowledge of the matter told Bloomberg.

Toyota, Honda get improved credit outlooks from Moody's

9:44 am U.S. ET | June 26, 2013
Toyota and Honda had their credit-rating outlook raised by Moody's Investors Service, which cited the Japanese carmakers' recovery from natural disasters and the benefits of a weaker yen.

Bosch opens second proving ground in China

June 26, 2013 14:50 CET
Bosch has opened a second proving ground in China, which will allow the supplier to test antilock brakes, electronic stability control systems, as well as driver assistance technology for passenger vehicles, motorcycles and trucks.

Britain's Morgan opens first Beijing dealership

June 26, 2013 14:28 CET
Morgan Motor has opened its first dealership in Beijing. The showroom is near Bentley and Lotus dealerships.

Chrysler Capital off to a strong start

12:01 am U.S. ET | June 26, 2013
Chrysler Capital, the lender created this year by Santander Consumer USA and Chrysler Group, is already the top loan writer at Chrysler dealerships. Chrysler Capital, now Chrysler's preferred finance provider, gives Chrysler dealerships a stronger lineup of loan choices for car shoppers.

Renault pushes Twingo upscale; will drop 3-door version

June 26, 2013 10:10 CET
Renault has high hopes for its new Twingo minicar, which will switch to a five-door layout in a move that may help the automaker win customers downsizing from larger vehicles.

Ford says its China sales growth will outpace industry

June 26, 2013 09:34 CET
Ford, the fastest-growing major foreign automaker in China this year, said its sales gain will outpace the industry in 2013 as customers buy new models.

Recession shuffled credit deck

12:01 am U.S. ET | June 26, 2013
Subprime customers who were prime-risk before the recession are a profitable, reliable niche, dealers and lenders say.

BMW Financial expands e-contracting to Mini

12:01 am U.S. ET | June 26, 2013
BMW Group Financial Services will expand its e-contracting system to Mini dealers in four states -- New York, California, Texas and Virginia -- by the end of this year. The system already is in use in the four states for BMW dealerships.

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