Automakers and Suppliers

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 »

 

Kia to build Forte compact at new plant in Mexico, report says

2:59 pm U.S. ET | Aug. 27, 2014
Kia plans to initially produce the Forte compact at its long-anticipated plant in Mexico, sources told Reuters today. Kia also is considering building the Sportage SUV at the plant. The South Korean automaker has earmarked $1 billion to build the plant, which has been in the works for several months, Mexican leaders said today.... 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 »

 

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 »

 

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 »

 

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 »

 

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 »

 

Daimler settles dispute with UAW over retiree medical benefits for $480 million

6:55 am U.S. ET | Aug. 27, 2014
Daimler will pay $480 million to settle a dispute with the UAW over medical benefits for retired employees of its North American trucks business, U.S. court records show.... 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 »

 

China said to mull $16 billion funding for EV chargers

Aug. 27, 2014 12:08 CET
China may provide as much as $16 billion for electric-vehicle charging facilities. Increased state funding would be a tailwind for carmakers coping with consumer concerns over the price, reliability and convenience of electric vehicles.... Read More »

 

Lotus hires former Kia Europe exec Lievens

Aug. 27, 2014 06:01 CET
Lotus has hired Jean-Charles Lievens, Kia's former European markets expert, to develop the automaker's sales network in France, Italy, Spain and Portugal.... Read More »

 

Kia to unveil plans for assembly plant in Mexico, sources say

6:14 pm U.S. ET | Aug. 26, 2014
Kia will announce plans Wednesday to construct an assembly plant in Mexico, its first in the country, according to two sources with knowledge of the matter. The South Korean automaker will build the factory in the Monterrey area of northern Mexico, a senior automotive industry source in Mexico City told Automotive News.... Read More »

 

Dollie Cole, spirited, outspoken wife of former GM president, dies at 84

3:14 pm U.S. ET | Aug. 26, 2014
Dollie Cole, the colorful, outspoken widow of former GM President Ed Cole and a leading champion of the National Corvette Museum, has died.... Read More »

 

Anti-UAW workers begin effort to create union at VW Tenn. plant

12:41 pm U.S. ET | Aug. 26, 2014
Employees at the Volkswagen AG auto plant in Tennessee are forming a union that is to include hourly and salaried workers, as a counter to the UAW Local 42 that was established last month, a leading anti-UAW worker said today.... Read More »

 

Ex-Porsche CEO Wiedeking to be tried for VW share manipulation

Aug. 26, 2014 12:29 CET
A German court revived criminal charges against former Porsche CEO Wendelin Wiedeking and ex-finance chief Holger Haerter involving a failed takeover of Volkswagen, saying prosecutors' findings indicate it "seems quite likely" the company hid its plan.... Read More »

 

Ford's Quick Lane brand buys naming rights to Detroit bowl game

10:23 am U.S. ET | Aug. 26, 2014
Ford's Quick Lane brand of dealership auto service centers will be sponsoring Detroit's new college football bowl game in December at Ford Field. Members of the Ford family also own the NLF's Detroit Lions, organizers of the bowl. Financial terms of the multiyear title sponsorship were not disclosed.... Read More »

 

Consumer Reports judges Ram 1500 EcoDiesel tops among half-ton pickups

11:44 am U.S. ET | Aug. 26, 2014
Consumer Reports says the hot-selling Ram 1500 EcoDiesel outscored competitors from Ford, General Motors, Toyota and Nissan to claim the magazine's top spot among full-size light-duty pickups.... Read More »

 

Volvo unveils new XC90 flagship SUV

Aug. 26, 2014 14:51 CET
Volvo unveiled the new XC90, a key part of the automaker's plan to nearly double annual vehicle sales to 800,000 vehicles by 2020.... Read More »

 

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