Headlines for Thursday, October 24, 2013

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Tesla hires Apple exec, ex-Ford engineer as new-vehicle VP

3:48 pm U.S. ET | Oct. 24, 2013
Tesla Motors said it hired an Apple executive and former Ford engineer to lead development of new vehicles.

UAW's Williams front-runner to lead union, report says

1:11 pm U.S. ET | Oct. 24, 2013
UAW Secretary-Treasurer Dennis Williams, who was instrumental in then-Sen. Barack Obama's 2008 Iowa caucuses win, is the best bet to replace outgoing president Bob King, according to a report.

BMW prices 2 series coupe at $33,025

6:00 pm U.S. ET | Oct. 24, 2013
The 2014 BMW 2 series coupe will have a base price of $33,025 for the 228i and $44,025 for the M235i, including shipping.

VIDEO: AutoNews Now: Ford's global growth engine

12:01 am U.S. ET | Oct. 24, 2013
Record earnings from Asia Pacific and Africa; long journey for Lincoln; GM pickups hit snag; Franklin, da Vinci and Musk?

Toyota loses first acceleration lawsuit, must pay $3 million

8:07 pm U.S. ET | Oct. 24, 2013
Toyota must pay $3 million in a lawsuit claiming a defect in a Camry caused the vehicle to unintentionally accelerate, leading to an accident that left one woman dead and another injured, an Oklahoma jury said.

AutoNation's Jackson blasts CFPB for being 'determined' to find lending bias

4:19 pm U.S. ET | Oct. 24, 2013
AutoNation Chairman Mike Jackson blasted the Consumer Financial Protection Bureau today for being “bound and determined” to find discrimination in auto lending whether or not it exists, at least in his company's case.

GM pickup launch slowed by axle supplier

2:30 pm U.S. ET | Oct. 24, 2013
A crimp in the supply of axles has dented production of General Motors' 2014 full-sized pickups, slowing the rollout of regular and double cab versions of the redesigned trucks.

BMW 2-series photos emerge before reaching market next spring

12:12 pm U.S. ET | Oct. 24, 2013
Photos of the all-new BMW 2-series coupe began leaking on automotive Web sites today. The new car will be shown first at the Detroit auto show in January and will arrive in United States dealerships next spring as the 228i and M235i.

VIDEO: First Shift: Another profit for Ford

12:01 am U.S. ET | Oct. 24, 2013
European outlook brightens, one-time costs trim net; Daimler, Hyundai gain; Snyder: Why automakers are bracing for 'spiff shootout.'

PSA reaches deal with unions to cut production costs

Oct. 24, 2013 17:34 CET
PSA has reached a deal with labor leaders to reduce fixed costs at French factories, a key step as it looks for new partners to expand and shore up its finances.

Renault third-quarter revenue falls 3% as currency shifts overcome pricing gains

Oct. 24, 2013 18:48 CET
Renault said third-quarter revenue fell 3 percent as Iran sanctions and weaker emerging market currencies more than offset gains in pricing and sales volumes.

Audi A3 matches Mercedes CLA starting price: $29,900

5:21 pm U.S. ET | Oct. 24, 2013
Audi of America's A3 sedan will start at $29,900, plus shipping, when it goes on sale next year -- the exact same as the Mercedes-Benz CLA.

Tesla fire from crash won't be investigated by U.S.

9:16 pm U.S. ET | Oct. 24, 2013
U.S. auto safety regulators decided against opening a formal investigation into a Tesla car fire that started after the vehicle ran over debris on a Washington state highway.

Ford settles class action over Navistar diesels

10:21 am U.S. ET | Oct. 24, 2013
Ford has agreed to settle a class-action lawsuit over claims that it sold defective Power Stroke diesel engines in its 2003-07 Super Duty pickups and E-series vans.

Ford's global picture brightens

7:15 am U.S. ET | Oct. 24, 2013
Ford, powered by continued strength in North America and improved performances around the world, posted a record third-quarter pre-tax profit of $2.6 billion, up $426 million from a year earlier.

Group 1 Automotive net rises 5% amid higher expenses

10:49 am U.S. ET | Oct. 24, 2013
Group 1 Automotive said today that third-quarter net profit rose 5 percent from the year-earlier period on an 18 percent rise in revenues. It said profits were held back by higher expenses and thinner margins on lagging vehicle sales.

AutoNation net income rises 13% on gains in all segments

8:15 am U.S. ET | Oct. 24, 2013
AutoNation today said its net income increased 13 percent in the third quarter on a 14 percent rise in revenue. Sales of new and used vehicles were up by double-digit percentages, and revenues rose for all operations.

California, 7 other states sign pact to spur EV sales

3:45 pm U.S. ET | Oct. 24, 2013
The governors of California and seven other states said today that they intend to get 3.3 million zero-emission vehicles onto their roads by 2025, showing a determination to keep their electric vehicle mandates despite automakers' complaints.


For Mulally, a question that refuses to go away

3:31 pm U.S. ET | Oct. 24, 2013
Three times during the third quarter earnings conference call with journalists and analysts today, Ford Motor CEO Alan Mulally was asked to comment on persistent reports that he is considering leaving Ford to become CEO at Microsoft. "We don't comment on speculation," he said.

Subaru to end Tribeca production in January

3:18 pm U.S. ET | Oct. 24, 2013
Subaru has axed the ailing mid-sized Tribeca crossover, with production slated to end in January.


Analysts predict double-digit jump in monthly sales

3:06 pm U.S. ET | Oct. 24, 2013
Auto sales are on pace to increase at least 12 percent this month from a year ago, according to four analyst forecasts released today, as the industry regains momentum lost during a weak September and a 16-day government shutdown.

Hyundai Motor Q3 profit advances on China, Brazil

10:27 am U.S. ET | Oct. 24, 2013
Hyundai Motor reported its first profit increase in four quarters after sales rose in China and demand for hatchbacks helped boost deliveries in Brazil.

Improving Europe helps Ford post record quarterly profit

Oct. 24, 2013 13:01 CET
Shrinking European losses combined with strong results in North America and Asia helped Ford post a record third-quarter pre-tax profit of $2.6 billion, up $426 million from a year earlier.

Daimler Q3 profit rises 16% as CLA boosts compact-car demand

Oct. 24, 2013 08:19 CET
Daimler reported earnings before interest and taxes rose 16 percent as a wider lineup of compact cars helped it gain ground on rivals.

Inchcape third-quarter sales rise 7% on strong demand for premium cars

Oct. 24, 2013 12:45 CET
UK-based dealer group Inchcape reported a 7 percent rise in third-quarter sales on robust demand for premium vehicles.

Autoliv raises sales outlook for 2013 as Q3 profit rises 1%

Oct. 24, 2013 13:22 CET
Auto safety specialist Autoliv posted a small rise of 1 percent in quarterly pre-tax earnings and raised its sales outlook for the full year.

VW's Winterkorn says Germany's 1 million electric-car goal is achievable

Oct. 24, 2013 06:01 CET
VW CEO Martin Winterkorn said the German government's goal to have 1 million electric cars on the country's roads by 2020 can be achieved if hybrids are included.

French union want talks with U.S. tire chief on layoff plans

Oct. 24, 2013 06:01 CET
Union leaders at a Goodyear tire plant in northern France have agreed to talks with a Texan executive who caused an uproar earlier this year by saying the factory was "not worth saving" and calling the plant's workers lazy.

Bollore says Blue Solutions share offer oversubscribed

Oct. 24, 2013 06:01 CET
Blue Solutions, the battery company being listed by Vincent Bollore, has already filled the order book for its upcoming share sale, the French industrialist said.

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