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Beijing Automotive Industry Holding Corp. (BAIC) has submitted an indicative, non-binding offer for Opel, sources familiar with the situation said on Friday. July 3 06:01 CET | UPDATED: July 3 13:46

Magna International expects to resolve the last few issues holding up its takeover of Opel from former owner General Motors by Tuesday, two sources familiar with the matter said on Thursday. July 3 06:01 CET | UPDATED: July 3 09:01

Opel front-runner Magna International's consortium partner Sberbank said the race to acquire the carmaker was all but over, though Beijing Automotive Industry Holding Corp. (BAIC) may still lodge a bid in the coming days. July 2 08:01 CET | UPDATED: July 2 12:30
   • GAZ to cut 5,800 jobs; ready to build Opels in Russia
   • EU reluctant to OK full Opel state aid, source says
   • RHJ's 1 billion euro loss sparks doubts on Opel bid
   • GM to sell Opel stake to equity fund, report says

VW exec fears big drop in '10 German car sales

German new-car sales will plunge in 2010 to a record low of 2.6 million vehicles due to government incentives that pull demand forward into this year, Rolf Dielenschneider, the head of Volkswagen's Seat brand in Germany told a magazine. July 2 06:01 CET | UPDATED: July 2 16:55 CET

German car sales forecast at 3.5 million in 2009

The German automakers association, VDA, on Thursday increased its forecast for 2009 new-car registrations in Germany to over 3.5 million from over 3.1 million previously, after car sales rose 40 percent in June. July 2 10:46 CET | UPDATED: July 2 17:35 CET

Magna directors poised to approve Opel deal

Magna International Inc.'s board of directors is scheduled to approve on Tuesday a business plan for the acquisition of German carmaker Opel, two sources familiar with the matter said today. 12:01 pm U.S. ET | July 2 | UPDATED: 7/2/09 4:03 p.m. ET

Porsche mulls more output cuts at 911 plant

Weak demand is forcing Porsche to consider cutting production later this year at its main Zuffenhausen plant near Stuttgart where the 911 Carrera is built, a company source said on Wednesday. July 2 06:01 CET

Credit Suisse downgrades European auto sector

Credit Suisse downgraded the European auto sector to "market weight" from "overweight," and warned of increasing risk to automakers' cash flows in the first half of 2010 as retail volumes and price support from scrappage schemes fade. July 2 12:01 CET

GM battery partner Hitachi plan big output boost

General Motors battery partner Hitachi Ltd. July 2 06:01 CET

BMW will continue reduced working hours in H2

BMW AG will continue its reduced working hours program in its German plants in the second half of this year, a company spokesman said on Thursday. July 2 12:16 CET

EU reluctant to OK full Opel state aid, source says

EU regulators are close to a decision on Germany's 1.5 billion euro bridge loan to Opel, but a source said Brussels is reluctant to approve the full 4.5 billion euros in aid Berlin plans to grant the carmaker. July 2 06:01 CET

GAZ to cut 5,800 jobs; ready to build Opels in Russia

Russian automaker GAZ Group, a partner in the consortium set to acquire control of Germany's Opel, will lay off 5,800 workers as of August 1 as it struggles with a deep slump in demand. July 2 06:01 CET

RHJ's 1 billion euro loss sparks doubts on Opel bid

Holding company RHJ International posted a sharply wider full-year loss and a 43 percent fall in the value of its portfolio, sparking fresh doubts about its bid for General Motors' Opel unit. July 1 08:31 CET | UPDATED: July 1 18:16 CET

Scrapping plans boost France, Italy, Spain June sales

New-car sales improved in France, Italy and Spain in June, thanks to government subsidies aimed at giving life support to the automotive industry during the economic crisis. French new-car sales rose 7. July 1 14:08 CET

With Toyota Motor Corp. reeling from North American losses, newly installed President Akio Toyoda has ordered his new top U.S. executives to skew the product lineup toward small cars, cut prices and streamline decision-making. 12:01 am U.S. ET | June 29

Hyundai plans to bring its Equus luxury sedan to the United States next July. About 100 units of the Equus are being evaluated this summer by U.S. dealers and consumers. 12:01 am U.S. ET | June 29

Fed loan will help Nissan build battery plant in Tenn.

A big chunk of the $1.6 billion loan that Nissan North America received from the U.S. government will pay for a lithium ion battery plant. The plant will make the batteries and assemble them into ready-to-install modules. 12:01 am U.S. ET | June 29

Hella supplies E-class headlamp

Hella KGaA Hueck & Co. helped develop continuously adjusting headlamps for Mercedes-Benz's E-class sedan and coupe, which was launched last week in the United States. 12:01 am U.S. ET | June 29

What Chrysler can learn from a Sicilian plant

Fiat Group will stop making cars at Termini Imerese in 2011. Admittedly, the fate of a small assembly plant on the rocky north coast of Sicily lacks the drama of, say, the bankruptcy of the world's second-largest automaker. 12:01 am U.S. ET | June 29