Headlines for Tuesday, July 30, 2013

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Citroen aims new C4 Picasso at top spot

July 30, 2013 11:48 CET
Citroen CEO Frederic Banzet believes the new C4 Picasso will outshine rivals to top Europe's compact minivan segment.

VIDEO: AutoNews Now: Costly gap in Jeep lineup

12:01 am U.S. ET | July 30, 2013
Marchionne: With Liberty gone and Cherokee delayed, Chrysler paying 'huge price'; dealers warm to lenders; thieves like C class.

Fiat fails to get judge's valuation of VEBA fund's Chrysler stock

6:33 pm U.S. ET | July 30, 2013
Fiat failed to persuade a judge to set the value of some Chrysler Group shares now owned by a union health-care fund, probably delaying a push to complete the combination of the two companies.

VIDEO: First Shift: Chrysler up, outlook down

12:01 am U.S. ET | July 30, 2013
Company sees profit rise 16%, cuts annual forecast; Tundra plays to its base; black-dealership trends; an Altima flies the coop.

PSA wins EU approval for 7 billion-euro state guarantee

July 30, 2013 18:56 CET
PSA won EU approval for the French government to guarantee 7 billion euros ($9.28 billion) in bonds for its banking unit. The guarantee will help keep the automaker afloat as it struggles to rein in losses.

BMW's expansion setback in China may signal dimming outlook for carmakers

July 30, 2013 15:19 CET
BMW's failure to win government approval to expand a factory in China is fueling concern that automakers could find it increasingly difficult to win approval on projects in the country.

Volkswagen sticks with 2013 outlook after H1 earnings drop

July 30, 2013 19:40 CET
Volkswagen said it still aimed for flat operating profit this year even as first-half earnings fell 11.6 percent amid weakening auto markets.

Toyota production to top 10 million vehicles this year, report says

3:56 pm U.S. ET | July 30, 2013
Toyota will this year become the first automaker to make more than 10 million vehicles a year, boosted by a weaker yen and strong demand for hybrids in Japan, a newspaper reported today.

Chrysler profit rises 16% to $507 million

5:19 am U.S. ET | July 30, 2013
Chrysler, riding sales gains in the United States and globally, reported net income of $507 million in the second quarter as strong sales of pickups and SUVs led the automaker to its eighth consecutive quarterly profit.

Dealers rank BMW, Mercedes and Ford captive financiers tops in satisfaction

3:15 pm U.S. ET | July 30, 2013
Auto dealers ranked BMW Group Financial Services tops for leasing and Mercedes-Benz Financial Services best for floorplanning in JD Power's annual financing satisfaction study released today.

VIDEO: Honda's Mendel on N.A. growth strategy

12:01 am U.S. ET | July 30, 2013
American Honda's U.S. sales are up six percent in the first half of 2013. In this video, Mendel discusses Honda's growth strategy in North America, the newest Acura, and the automaker's recent decision to move some executives to Ohio.

Toyota stands pat as full-sized pickups evolve

12:01 am U.S. ET | July 30, 2013
While redesigned pickups from Ram and GM have new underpinnings and running gear -- as will next summer's Ford F-150 replacement -- Toyota has kept the Tundra's powertrain and platform largely intact for 2014.

Nissan expands Mississippi operation to recruit suppliers

11:27 am U.S. ET | July 30, 2013
Nissan North America will add 1 million square feet of manufacturing space to its Mississippi assembly operation in a bid to bring more suppliers to the site.

PSA-Dongfeng lifts 2013 sales target

July 30, 2013 10:20 CET
Dongfeng Peugeot Citroen Automobile raised its sales target for the year after achieving better-than-expected volume in the first half.

Fiat profit rises as spending cuts narrow European losses

July 30, 2013 12:09 CET
Fiat Group reported better-than-expected second-quarter profit, boosted by spending cuts in Europe and strong Chrysler sales in the United States.

Mercedes leads U.S. in luxury-car theft as criminals target NYC

12:34 am U.S. ET | July 30, 2013
Mercedes-Benz vehicles were the most sought-after luxury brand among car thieves in the United States from 2009 through 2012 as the New York City region had the greatest number of thefts, an insurance-industry group said.

Chrysler profit rises 16% to $507 million

July 30, 2013 11:19 CET
Chrysler, riding sales gains in the U.S. and globally, reported net income of $507 million in the second quarter as strong sales of pickups and SUVs.

Valeo lifts 2013 goal on Europe recovery hopes

July 30, 2013 11:00 CET
Valeo raised its full-year earnings goal, saying the “worst is behind us” in the European car market.

GM will debut new Spark in 2015, delays Aveo launch, union says

July 30, 2013 08:49 CET
GM plans to launch the new Chevrolet Spark in 2015, but will delay the launch of its revamped Aveo, a Korean labor union spokesman said. The Spark/Matiz, is Chevrolet's best-selling model in Europe while the Aveo is No. 3 after the Cruze compact.

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