Automakers and Suppliers

VW to issue statement on leadership today, report says

April 16, 2015 14:41 CET

VW is expected to issue a statement on Friday following a meeting of top executives on Thursday afternoon to discuss a leadership crisis sparked by negative comments from chairman Ferdinand Piech against CEO Martin Winterkorn, according to a report.... Read More »

VW, Metzler terminate talks to sell LeasePlan

April 16, 2015 18:56 CET

VW Group and private German bank Metzler have terminated talks to sell LeasePlan, a Dutch fleet-management company with 1.42 million vehicles spread across 32 countries. The deal was valued at about 3 billion euros, people familiar with the situation said.... Read More »

Frank Audette, longtime Detroit area Cadillac dealer, dead at 90

3:28 pm U.S. ET | April 16, 2015

Frank Audette, the creator of the Troy Motor Mall and founder of the former Audette Cadillac dealership in suburban Detroit, died April 10. He was 90.... Read More »

Winterkorn opts out of German political event

April 16, 2015 13:18 CET

VW CEO Martin Winterkorn cancelled plans to take part in a political event with Germany's ruling parties on Thursday because of meetings at the Wolfsburg-based carmaker, a Social Democratic Party official said.... Read More »

Chinese automakers are taking over the hottest SUV market

12:34 pm U.S. ET | April 16, 2015

After years of losing out to foreign brands, China's automakers are winning in the world's hottest SUV market by employing a tried-and-tested strategy: offering them cheap.... Read More »

Aluminum F-150 improves crash-test rating from all-steel predecessor

9:48 am U.S. ET | April 16, 2015

The aluminum-bodied Ford F-150 has earned a better government crash-test rating than its all-steel predecessor, countering any concerns that the lighter material would result in a weaker truck and eliminating one of the Chevrolet Silverado's advantages.... Read More »

Magna to sell interiors unit to Grupo Antolin for $525 million

9:17 am U.S. ET | April 16, 2015

Canadian auto supplier Magna has agreed to sell its interiors operations to Grupo Antolin, a Spanish supplier with global operations, in a deal valued at about $525 million, Magna said today in a statement.... Read More »

Chinese conglomerate completes acquisition of Prestolite Electric

1:11 pm U.S. ET | April 16, 2015

Chinese conglomerate Zhongshan Broad-Ocean Motor has completed its acquisition of Michigan-based supplier Prestolite Electric LLC.... Read More »

Volkswagen extends Routan ignition-switch recalls

12:55 pm U.S. ET | April 16, 2015

Volkswagen is recalling 20,676 Routan minivans with potentially faulty ignition switches. It is an extension of recalls for ignition-switch defects that replaced only detent plungers, instead of the full ignition switch.... Read More »

Chevy runs digital video ads in print

10:54 am U.S. ET | April 16, 2015

Chevrolet has purchased a series of print ads to show off digital videos promoting the Colorado pickup.... Read More »

Fiat goes Dutch with first annual investor meeting in Amsterdam

6:38 am U.S. ET | April 16, 2015

After a century of meeting in Italy, Fiat shareholders convened today in Amsterdam, swapping the company's Lingotto factory with its rooftop racetrack for a luxury hotel in the Dutch city's red light district. Only 10 investors attended the session.... Read More »

Grupo Antolin to buy Magna unit for $525 million

April 16, 2015 15:17 CET

Spain's Grupo Antolin has reached an agreement to purchase Magna International's interiors unit for about $525 million, creating what Antolin estimates will be the world's third-largest player in the consolidating sector.... Read More »

Mahindra nears deal to buy Pininfarina, sources say

April 16, 2015 14:10 CET

Mahindra & Mahindra, India's largest maker of SUVs, is in the final stages of negotiations to buy Italian design and engineering firm Pininfarina, according to people familiar with the matter, who said a deal could be reached as early as next week.... Read More »

Toyota engineer doubts electric cars will spread even with rapid chargers

6:50 am U.S. ET | April 16, 2015

Battery-powered electric vehicles don't have a practical future as a long-range alternative to conventional cars even if technological breakthroughs allow them to be charged quickly, a top Toyota engineer said today.... Read More »

AUTOMOTIVE NEWS EUROPE E-MAGAZINE

BorgWarner CEO welcomes electrification of the powertrain

April 16, 2015 06:15 CET

BorgWarner sees the electrification of the powertrain as a positive for the supplier despite its heavy reliance on sales of parts that EVs don't need, such as turbochargers and glow plugs, James Verrier, the company's CEO, explained to Automotive News Europe.... Read More »

GM is shielded from some ignition-switch suits, ruling finds

4:45 pm U.S. ET | April 15, 2015

General Motors will not have to face dozens of lawsuits accusing it of concealing an ignition-switch defect that has been blamed for more than 200 deaths and serious injuries, a federal bankruptcy judge ruled Wednesday.... Read More »

Renault summons board in response to French stake hike, report says

April 15, 2015 22:09 CET

Renault will hold an emergency board meeting today in response to France's plans to tighten its grip on the carmaker and its alliance with Nissan, a source said. France is increasing its Renault holding to 19.7 percent from 15 percent.... Read More »

VW panel to meet today on leadership crisis, source says

April 15, 2015 19:08 CET

The steering committee of VW Group's supervisory board will meet today to try to resolve a leadership crisis caused by the exposure of a rift between its CEO and chairman, a source told Reuters.... Read More »

Faurecia sales boosted by European car demand, weaker euro

April 15, 2015 18:46 CET

Faurecia said its first-quarter sales rose 14 percent, helped by currency tailwinds and a recovery in European vehicle demand.... Read More »

CO2 emissions from new cars in EU fell 2.6% in 2014, study says

April 15, 2015 16:29 CET

Average CO2 emissions from new cars sold in the EU fell 2.6 percent to to 123.4g/km last year, beating goals set for 2015 as part of efforts to slow climate change, the European Environment Agency said.... Read More »

GM launches software that flags recalled vehicles on dealer lots

1:54 pm U.S. ET | April 15, 2015

General Motors is rolling out new software this month for dealerships to make it harder for them to mistakenly sell a new vehicle that's subject to a recall, without first performing the recall work as required.... Read More »

VW struggle in 'diplomacy phase' as investors weigh CEO change

April 15, 2015 12:11 CET

Volkswagen's leadership crisis has burst into the open with Chairman Ferdinand Piech's public denunciation of CEO Martin Winterkorn, but the standoff is now more likely to play out behind closed doors. Piech, 77, will meet his cousin, Wolfgang Porsche, and other family members to discuss the rift his comments appear to have opened up, sources said.... Read More »

Tesla awaits OK from governor to sell directly in Maryland

12:45 pm U.S. ET | April 15, 2015

Tesla will be granted up to four licenses in Maryland if the governor signs a bill supported by the Maryland Automobile Dealers Association.... Read More »

Q&A

New Black Book exec looks to help dealers close loans, leases faster

11:15 am U.S. ET | April 15, 2015

Barrett Teague, Black Book's new vice president of lender solutions, says dealership F&I managers are never far from his mind. In part that's because he's been an F&I manager himself. Teague, 43, joined Black Book on April 6. His new role is to work with lenders, but how lenders use Black Book data also has a direct effect on dealerships, he says.... Read More »

Dealership gross profits see bigger impact from F&I

12:00 pm U.S. ET | April 15, 2015

The average dealership gained more from F&I last year, even though retailers' overall sales penetration for products such as extended service contracts and GAP dropped a fraction of a percentage point. On average, F&I accounted for 39.6 percent of gross profit for new- and used-vehicle departments combined in 2014, up from 38.8 percent in 2013, according to the 2014 NADA Data report.... Read More »

 
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Seattle VW dealer mixes metrics and fun

Seattle VW dealer mixes metrics and fun

Matthew Welch may own Auburn Volkswagen, but the title he cherishes is “chief relationship officer.' Mon., April 13
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