Headlines for Tuesday, August 19, 2014

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A123 hires former JCI executive as chief technology officer

7:49 am U.S. ET | Aug. 19, 2014
A123 Systems hired former Johnson Controls executive Patrick Hurley as its new chief technology officer.

Cadillac's new flagship sedan to define innovation, excellence, Reuss vows

6:00 pm U.S. ET | Aug. 19, 2014
GM global product chief Mark Reuss said that a large luxury sedan being developed for Cadillac will "define its brand" and is a prerequisite to competing against rivals BMW, Mercedes-Benz, Audi and Lexus.

VIDEO: AutoNews Now: Honda on avoiding 'stupid things'

12:01 am U.S. ET | Aug. 19, 2014
Company not counting on fleet, long loans or spiffs to build share, exec says; Saab seeking a partner; valet-proofing the Vette.

VIDEO: First Shift: Porsche growing too much?

12:01 am U.S. ET | Aug. 19, 2014
Sales push has some wondering if exclusivity is at risk; U.S. 'talking car' push; woman sues GM, claims burn from heated seat.

2 Japanese suppliers fined in China's antitrust crackdown

6:23 am U.S. ET | Aug. 19, 2014
China's antitrust regulator fined Japanese bearing makers NSK Ltd. and NTN Corp. a combined 4.8 billion yen ($47 million) for violating rules in a probe into industry pricing practices.

Lear to buy leather supplier Eagle Ottawa for $800 million, reports say

5:46 pm U.S. ET | Aug. 19, 2014
Lear is finalizing a deal to acquire automotive seat leather supplier Eagle Ottawa, media reports said, citing sources close to the deal. Lear, based in Michigan, is expected to pay more than $800 million for Eagle Ottawa, the world's largest supplier of leather to the automotive market.

Japan's NGK pleads guilty, to pay $52.1 million U.S. fine for price fixing

5:10 pm U.S. ET | Aug. 19, 2014
Japanese supplier NGK Spark Plug agreed to plead guilty and pay a $52 million criminal fine over its role in a conspiracy to fix prices and rig bids for spark plugs and other automotive parts, the Department of Justice said.

Honda's Mendel says U.S. sales 'near top,' warns market may suffer from 'stupid things'

1:30 pm U.S. ET | Aug. 19, 2014
Auto sales in the United States are approaching the highest levels that the market can sustainably support and could suffer long-term damage as automakers increasingly turn to subprime financing and seven-year loans to boost market share, the top sales executive at American Honda warned today.


Why Honda's John Mendel wants customers to buy a Treasury bond on wheels

3:28 pm U.S. ET | Aug. 19, 2014
Jittery stock market? Honda's John Mendel wants you to take your money out of Google, Apple and Tesla -- and put it in Hondas. Not Honda stock. Actual Hondas. They're like Treasury bonds on wheels, with cupholders.

Dealer website provider Search Optics acquires DigiGo

3:34 pm U.S. ET | Aug. 19, 2014
Search Optics, a growing provider of dealer websites and digital marketing services, has purchased KPA's DigiGo division, formerly known as TK Carsites. Terms were not disclosed.

Dealer software giant ADP Dealer Services to become CDK Global

2:55 pm U.S. ET | Aug. 19, 2014
ADP Dealer Services said today it will spin off from parent ADP with the name CDK Global. The dealer software giant expects to become an independent public company by October. It will be listed on the NASDAQ exchange under the symbol CDK.


The Rolls-Royce that took 8 months to build

1:56 pm U.S. ET | Aug. 19, 2014
Turn 10 Studios needed extra time to digitally translate the Rolls-Royce Wraith's craftsmanship into “Forza Motorsport 5” on the Xbox One.


GM expands website for owners of recalled vehicles

12:18 pm U.S. ET | Aug. 19, 2014
General Motors' website for owners of its vehicles recalled for faulty ignition switches has been expanded to include all 20 models involved, the automaker said.

Aisin's North American growth drives more investment, new HQ

10:51 am U.S. ET | Aug. 19, 2014
Aisin opened a new North American headquarters in suburban Detroit in July as part of the foreign subsidiary's ongoing growth stateside.


Why Korea could be next to crack down on foreign brand pricing

8:55 am U.S. ET | Aug. 19, 2014
Could China's crackdown on perceived price gouging by foreign automakers trigger a domino effect next door in South Korea, where sale of overseas brands are heating up?

Dutch car sales likely to fall to 45-year low, industry group says

Aug. 19, 2014 13:36 CET
Dutch car sales will likely fall to their lowest level since 1969 this year as sluggish economic recovery and weak consumer confidence hit demand, automotive industry consultancy group Aumacon says.

Saab's owner seeks partner to secure brand's future

Aug. 19, 2014 11:15 CET
Saab's owner, National Electric Vehicle Sweden, says it is in discussions with potential partners as it seeks to restart car production and develop future models.

Magna CEO in a shopping mood in post-Stronach era

6:54 am U.S. ET | Aug. 19, 2014
Magna International, the largest auto supplier in North America, will consider purchases of as much as $4 billion as it distances itself from debt-averse founder Frank Stronach.


Citroen's clever C4 Cactus

Aug. 19, 2014 06:01 CET
Citroen has found clever ways to make its new C4 Cactus an unconventional and affordable alternative to hatchbacks that dominate Europe's compact segment.

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