Automakers and Suppliers

Ford launches '15 Mustang output in Michigan

12:01 am U.S. ET | Aug. 28, 2014
Ford officially launched production of the redesigned Mustang at its Flat Rock Assembly Plant in Flat Rock, Mich. With the 2015 model, Ford is making the Mustang to suit global tastes for the first time. That will include a first-ever right-hand-drive version.... Read More »

 

Court rejects creditor protection for Saab owner NEVS

Aug. 28, 2014 11:56 CET
A Swedish court rejected an application from China's National Electric Vehicle Sweden, which bought bankrupt Saab in 2012, for protection against creditors while it concludes funding talks.... Read More »

 

Ford wins dismissal in U.S. of claims it aided apartheid

9:19 pm U.S. ET | Aug. 28, 2014
Ford won dismissal of a lawsuit claiming the company aided South Africa's apartheid regime, with a judge saying it couldn't be sued in the U.S. over actions of their units overseas.... Read More »

 

Automakers still dogged by Bluetooth glitches, Power study finds

4:03 pm U.S. ET | Aug. 28, 2014
Bluetooth technology aims to leave drivers hands-free, but some drivers end up connection-free, according to a study of multimedia quality and satisfaction released today.... Read More »

 

Toyota targets shoppers with location-based mobile ad tool

4:08 pm U.S. ET | Aug. 28, 2014
Toyota is using a location-based mobile ad tool to supercharge its annual clearance sale. The tool, Opera Mediaworks' Dynamic Sales Event platform, enables Toyota to target shoppers who are intent on making a purchase with banner ads on Web pages and apps that display the annual percentage rate for loans at dealerships in their regions.... Read More »

 

Global price-fixing crackdown threatens supply chain's 'business model'

3:58 pm U.S. ET | Aug. 28, 2014
As antitrust regulators, most recently in China, go after auto suppliers in what has become a worldwide probe into price fixing, a longtime "business model" in the supply chain is now in danger, says an automotive purchasing executive. That model essentially sees parts makers collude to keep prices relatively high for new components they supply to car manufacturers, and then charge even more for the same parts supplied as replacements to dealerships and repair shops.... Read More »

 

Transmission parts supplier to invest $42 million in Mich. plant

3:21 pm U.S. ET | Aug. 28, 2014
Transform Automotive is expanding in Michigan after landing a new contract to build transmissions parts. The machined, metal-stamped and laser-welded parts supplier plans to invest nearly $42 million to lease and build out a new manufacturing plant in Shelby Township, Mich., a suburb east of Detroit.... Read More »

 

Russia pledges 207 million euros to resume car scrappage scheme

Aug. 28, 2014 12:19 CET
Russia will reintroduce a scrappage scheme to help stimulate car sales after deliveries in the market fell 23 percent in July as the crisis in Ukraine continues to hit consumer confidence.... Read More »

 

Kia targets 270,000 sales of the new Sorento next year

Aug. 28, 2014 10:05 CET
Kia unveiled its redesigned Sorento, saying it aims to sell 270,000 units of the SUV globally next year as the automaker seeks to maintain its momentum in the U.S., Europe and other key markets.... Read More »

 

GM plans to move some Chevy Equinox assembly to Mexico, report says

6:30 am U.S. ET | Aug. 28, 2014
General Motors and the UAW on Wednesday trumpeted the news that production of the Cadillac SRX would be shifted from Mexico to Tennessee, but Reuters has learned that GM also plans to move some other assembly work in the opposite direction.... Read More »

 

GM ignition switch fund receives claims for more than 100 deaths

6:34 am U.S. ET | Aug. 27, 2014
A program to compensate victims of crashes linked to a faulty ignition switch in General Motors vehicles has received claims for 107 deaths as of Tuesday, according to a spokeswoman for the lawyer overseeing the program.... Read More »

 

Lear agrees to buy leather supplier Eagle Ottawa in $850 million deal

4:54 pm U.S. ET | Aug. 27, 2014
Lear agreed to buy automotive leather supplier Eagle Ottawa in a deal valued at $850 million that aims to strengthen the company's global seating business.... Read More »

 

AUGUST U.S. AUTO SALES

Sales rate to top 16 million for 6th month in a row, analysts predict

12:46 pm U.S. ET | Aug. 27, 2014
Auto sales volume in the United States is expected to keep rolling along in August, with two independent forecasters predicting a sixth straight month of 16 million-plus selling rates. TrueCar predicts a seasonally adjusted annual selling rate of 16.6 million for August and LMC Automotive/J.D. Power is just behind at 16.5 million.... Read More »

 

Renault could turn Russia crisis to its advantage

Aug. 27, 2014 17:32 CET
Renault could turn a market crisis to its advantage as Moscow considers a subsidy scheme to steady demand and a weaker ruble undermines rivals that make fewer parts locally.... Read More »

 

Kia says it will build 'range' of small cars at new plant in Mexico

2:59 pm U.S. ET | Aug. 27, 2014
Kia plans to produce “a range” of small cars for markets including the United States at its $1 billion plant in Monterrey, Mexico, after production begins in the first half of 2016, the company said in a statement.... Read More »

 

Mercedes to ditch M-class in favor of GLE as part of renaming strategy

3:46 pm U.S. ET | Aug. 27, 2014
Mercedes-Benz is ditching the M-class nameplate as part of a comprehensive renaming strategy. When the vehicle receives a face-lift in early 2015 for the 2016 model year, it will be called the GLE class.... Read More »

 

BMW joins Cadillac wooing Silicon Valley to combat Tesla

2:24 pm U.S. ET | Aug. 27, 2014
BMW scored a coup this month when former Apple executive Tony Fadell became one of the first owners of the new $136,000 i8 plug-in sports car in the United States. Car companies covet Californians, who are seen as trendsetters for the rest of the country. All the better if they can win adherents among executives at companies striving to stay at the cutting edge of technology.... Read More »

 

Subaru casts wider net with safer, greener WRX

1:42 pm U.S. ET | Aug. 27, 2014
Subaru hopes the redesigned WRX line will capture a wider customer base with better fuel economy and safety features after spinning off the nameplate from its Impreza stablemate.... Read More »

 

Is rise in Q2 loan delinquencies a turning point?

12:01 am U.S. ET | Aug. 27, 2014
Industry-watchers insist that today's auto loan delinquency rates are low by historical standards. But a slight uptick in 30- and 60-day delinquencies in the second quarter could be a sign that the long decline in delinquencies could be reversing.... Read More »

 

GM details plans for SRX, engine production in Tenn.

11:45 am U.S. ET | Aug. 27, 2014
General Motors said today it will invest $185 million to make small engines at its Tennessee assembly plant, while relocating production of the next-generation Cadillac SRX to that factory from a facility in Mexico.... Read More »

 

F&I departments need a farm team

12:01 am U.S. ET | Aug. 27, 2014
The term “succession planning” is usually applied to dealer principals, but it can apply to F&I managers, too. Executives at two dealerships say store managers should nurture their own talent pool, so they have a ready replacement if a top F&I producer quits.... Read More »

 

'No evidence' of subprime auto loan bubble, Equifax economist says

12:01 am U.S. ET | Aug. 27, 2014
Equifax has joined other financial data crunching firms that dispute there's an alarming subprime auto loan bubble that's about to burst. Dennis Carlson, deputy chief economist for Equifax, said in an interview this week there's an easy tendency to decry subprime in general because of what happened in the past, and "it's not fair to do that.”... Read More »

 

Spiders hooked on gasoline fumes cause another recall, this time for Suzuki

11:06 am U.S. ET | Aug. 27, 2014
Spiders drawn to gasoline vapors and weaving webs that block a hose to vent those vapors have caused Suzuki Motor of America to recall about 19,000 Kizashi midsize sedans from the 2010-13 model years.... Read More »

 

AvtoVAZ aims to win back market share to return to profit, CEO Andersson says

Aug. 27, 2014 10:54 CET
AvtoVAZ plans to return to profit by cutting costs and rolling out new models to claw back market share that has been slipping away from the producer of Lada vehicles since the end of the Soviet Union.... Read More »

 

Schaeffler first-half earnings rise 9% on China demand

Aug. 27, 2014 11:37 CET
Schaeffler expects sales growth in excess of 7 percent this year after first-half earnings rose 9 percent and profit margins improved because of demand in China.... Read More »

 

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