AsiaMazda names production chief Kogai next CEOMay 9, 2013 06:01 CET  Mazda has appointed Masamichi Kogai its next CEO. The production and purchasing specialist replaces Takashi Yamanouchi, who led the carmaker to its first annual profit in five years. The promotion takes effect pending approval at the Japanese company's June 25 annual shareholders' meeting, Mazda said in a statement.... Read More »
BMW under inspection in India after report of tax probeMay 9, 2013 06:01 CET  BMW has said it is cooperating with Indian authorities after a newspaper reported the automaker is being investigated for possibly owing $120 million in taxes.... Read More »
Mazda names production chief Kogai next CEO 10:57 pm U.S. ET | May 8, 2013  Mazda has appointed Masamichi Kogai its next CEO. The production and purchasing specialist replaces Takashi Yamanouchi, who led the carmaker to its first annual profit in five years. The promotion takes effect pending approval at the Japanese company's June 25 annual shareholders' meeting, Mazda said in a May 9 statement.... Read More »
GM to discuss labor woes with S. Korea president, union rep saysMay 7, 2013 14:29 CET  GM will discuss labor woes in South Korea with the country's president, the automaker's CEO was quoted as saying by its Korean union, a move that could complicate already troubled relations with its work force in the country. GM makes most of the Chevrolet vehicles it sells in Europe in Korea.... Read More »
Toyota to post around $13 billion annual operating profit, report says 9:45 am U.S. ET | May 6, 2013  Toyota is expected to post operating profit of more than $13 billion for the year ended March, significantly more than what has been forecasted, the Nikkei business daily reported today.... Read More »
Mercedes brand sales rise 12% in April on Asia, EuropeMay 6, 2013 13:17 CET  Daimler said vehicle sales of its Mercedes brand rose 11.7 percent last month, powered by double-digit gains in Asia and Europe.... Read More »
AKIO TAKES THE WHEEL Toyota's car-buff president makes Lexus his pet project 12:01 am U.S. ET | May 6, 2013  By Akio Toyoda's own admission, his beloved Lexus luxury brand has a big problem. Unlike its German rivals, Lexus has no heritage, no narrative. Now the Toyota Motor Corp. president is investing himself personally in the brand by taking direct control of all things Lexus.... Read More »
Dreary HQ city is a handicap in global glitz plan 12:01 am U.S. ET | May 6, 2013 Lexus Group was rechristened Lexus International in June 2012 in an effort to lend an air of worldwide reach and urbane globalism. Despite efforts to internationalize the brand, there is still one big hurdle: The limited allure of the company's bland industrial hometown of Toyota City.... Read More »
U.S. output of the Prius is on hold 12:01 am U.S. ET | May 6, 2013  Once considered a sure bet for U.S. production, the Toyota Prius is now on indefinite hold for assembly here, said Jim Lentz, CEO of Toyota's North American region.... Read More »
Ford sees Thai operations as export hub for southeast Asia 6:34 pm U.S. ET | May 5, 2013  Ford's factories in Thailand are capable of producing eight times more vehicles than it sells. With help from a Thai government program, the automaker plans to make sure the excess capacity doesn't become a liability like at its plants in Europe.... Read More »
Toyota's 10 million plan: Common parts, r&dMay 3, 2013 06:01 CET  Toyota President Akio Toyoda is banking on an overhauled r&d strategy to kick the company his grandfather founded into growth mode after four years of crises. The strategy will help boost Toyota's global sales beyond 10 million units a year.... Read More »
Ford enters Myanmar with Yangon dealer as U.S. relations improve 1:03 pm U.S. ET | April 30, 2013  Ford said it began operating today in Myanmar, a country isolated for five decades until the United States eased sanctions last year. The automaker will open its first dealership in Yangon, the former capital, in partnership with Capital Automotive, a unit of Myanmar's Capital Diamond Star Group, Ford said in an e-mailed statement.... Read More »
The 10 million plan: Common parts, r&d 12:01 am U.S. ET | April 29, 2013  Toyota Motor Corp. President Akio Toyoda is banking on an overhauled r&d strategy to kick the company his grandfather founded into growth mode after four years of crises. The strategy will help boost Toyota's global sales beyond 10 million units a year.... Read More »
SHANGHAI AUTO SHOW Volvo CEO: Luxury car clashes with image 12:01 am U.S. ET | April 29, 2013 Volvo will not develop a flagship sedan to challenge the BMW 7 series, Mercedes-Benz S class or Audi A8. Volvo CEO Hakan Samuelsson said such a flagship doesn't fit Volvo's green image.... Read More »
Kia Q1 profit tumbles 35% on reduced production, won 9:10 am U.S. ET | April 26, 2013  Kia posted a 35 percent drop in first-quarter profit after production at its main domestic factories fell and the won strengthened against the yen.... Read More »
Mitsubishi to revamp Japan plant; capacity cuts expected 3:40 pm U.S. ET | April 23, 2013  Mitsubishi Motors plans to unveil a restructuring plan for its flagship Mizushima assembly plant in Japan on Thursday, a spokesman said today. The restructuring may entail cutting capacity at the plant in western Japan as much as 40 percent by eliminating two of its four assembly lines, local media reports said.... Read More »
Mercedes, BMW, Audi chase young, female, frugal customers in IndiaApril 23, 2013 12:11 CET  In an effort to raise stuttering sales in India that far lag emerging Asian rival China, Mercedes, Audi and BMW are targeting young and female buyers outside the ultra-rich classes with small locally made cars.... Read More »
Asians roar back, resume conquest of retail market 12:01 am U.S. ET | April 22, 2013  Japanese and Korean automakers accounted for nearly half of all retail sales in 2012, bouncing back after inventory shortages caused by Japan's 2011 earthquake were resolved.... Read More »
Reuss: GM faces 'real threat' from yen's decline 12:01 am U.S. ET | April 22, 2013  General Motors isn't facing pricing pressure from Japanese rivals yet, but the Japanese yen's falling value poses a "real threat" that could undercut GM's campaign to boost market share, a top executive said last week.... Read More »
GM Korea gets a big boost, but it also faces big risks 12:01 am U.S. ET | April 22, 2013  General Motors is doubling down on its South Korean bet, despite gathering clouds over its operations here. Now GM will boost investment in South Korea by 60 percent over the next five years.... Read More »
HyundiMobis says it has $530 million lamp order from Chrysler 12:01 am U.S. ET | April 16, 2013 South Korea's Hyundai Mobis said on Tuesday it won a $530 million order to supply automotive lamps to U.S. automaker Chrysler Group LLC -- its biggest lamp deal ever.... Read More »
Ex-Hyundai Europe boss to run VW IndiaApril 16, 2013 06:01 CET  VW has promoted Gerry Dorizas, its veteran head of sales in India and a former chief of Hyundai Europe, to run its overall operations in the country.... Read More »
GM's Reuss: No price pressure yet, but falling yen is a 'threat' 3:04 pm U.S. ET | April 16, 2013  The falling value of the Japanese yen poses "a real threat" to General Motors as it seeks to gain U.S. market share this year amid a slate of new-vehicle launches, GM North America chief Mark Reuss said today. Reuss said GM has not yet faced pricing pressure from Japanese competitors and so far has maintained strong pricing power, which it has enjoyed for the last two years.... Read More »
Opel to push growth in Russia, Akerson tells paperApril 15, 2013 10:07 CET  General Motors' Opel brand will push growth in Russia and Turkey to offset slumping European slumping business but steer clear of China, GM CEO Dan Akerson said.... Read More »
Hyundai puts growth on hold 12:01 am U.S. ET | April 15, 2013  Hyundai Motor Co.'s limited global production capacity is capping the company's growth, a top executive says. The company is squeezing nearly every unit possible from its assembly plants.... Read More »
|
