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Piech denies reports saying he wants to oust Winterkorn

April 23, 2015 13:07 CET

Volkswagen Chairman Ferdinand Piech denied reports that he is seeking to oust CEO Martin Winterkorn, a German newspaper reported, quoting Piech. Separate German media reports had said that Piech aims to push out Winterkorn ahead of the carmaker's May 5 annual shareholder meeting.... Read More »

PSA's Tavares open to adding partners to Toyota JV

April 23, 2015 13:53 CET

PSA/Peugeot-Citroen is open to bringing in more partners to its existing collaboration with Toyota to share the cost of designing and manufacturing minicars, PSA CEO Carlos Tavares said.... Read More »

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BMW targets U.S. market with 2-series softtop

April 23, 2015 06:01 CET

BMW has increased the size of the 2-series convertible compared with its predecessor model, the 1-series convertible, largely to boost the car's appeal among U.S. buyers.... Read More »

Tesla to unveil home and utility batteries April 30

6:51 am U.S. ET | April 22, 2015

Tesla Motors Inc. will announce a home battery and a “very large” utility-scale battery on April 30, according to an e-mail sent to investors and analysts.... Read More »

Lithia's Q1 net income soars 64% on broad gains, DCH integration

11:03 am U.S. ET | April 22, 2015

Lithia Motors' net income surged 64 percent to $41 million in the first quarter from a year earlier, on strong sales across all divisions and the continued integration of its purchase last year of DCH Auto Group, the dealership group said today.... Read More »

Asbury, Sonic see below-average F&I revenue at new-initiative stores

11:30 am U.S. ET | April 22, 2015

Two of the nation's biggest publicly traded dealership groups said early, small-scale results from their nontraditional dealerships -- either stand-alone used-vehicle stores or ones that use techniques such as no-haggle pricing -- showed below average F&I revenue per vehicle retailed.... Read More »

AutoNation's Q1 net income rises 17%

7:00 am U.S. ET | April 22, 2015

AutoNation is picking up its acquisition pace as its profits continue to rise. Net income for the nation's largest new-car retailer jumped 17 percent in the first quarter to $111.5 million, the company said today.... Read More »

France completes move to increase Renault stake

April 22, 2015 11:01 CET

The French government has completed steps to increase its stake in Renault despite opposition from the company's alliance partner, Nissan, and Carlos Ghosn, who heads both automakers..... Read More »

Audi sees compact cars driving sales in China

April 22, 2015 11:52 CET

Audi sees compact cars increasingly becoming the main driver of sales in China as the country's booming middle class looks for more affordable luxury.... Read More »

Aston Martin mulls U.S. plant for crossover, report says

April 22, 2015 10:50 CET

Aston Martin may add a plant in the U.S. to build the brand's first crossover, the Financial Times reported. The British automaker has held talks with officials in several states about the factory, the paper said, citing several sources familiar with the talks.... Read More »

Continental will invest 1 billion euros in China, CEO says

April 21, 2015 15:40 CET

Continental plans to invest about 1 billion euros ($1.07 billion) in China over the next five years, CEO Elmar Degenhart said. The company is seeking to boost its share of Asian sales to 30 percent of global turnover by 2020 from a fifth at present.... Read More »

BMW will build fwd cars in China to attract middle class

April 21, 2015 10:11 CET

BMW will double the number of cars it builds in China to six as it adds models including the front-wheel-drive 2-series Active Tourer minivan in a bid to increase sales to middle class buyers who don't have chauffeurs.... Read More »

Google exec sees self-driving cars as inevitable

4:05 pm U.S. ET | April 21, 2015

Ray Kurzweil, inventor, futurist and Google's director of engineering, opened the SAE World Congress here by pointing out that predicting the future is easy -- and saying self-driving cars are inevitable.... Read More »

NHTSA prepares steps to speed up Takata, Jeep recalls

1:30 pm U.S. ET | April 21, 2015

Federal auto safety regulators want to see more progress on the Takata and Jeep fuel tank recalls, and could take action in the next two weeks to achieve that goal. The steps come amid a broader push by the agency for automakers to take a more proactive stance on safety.... Read More »

Mercedes' Cannon recruits fellow execs for a personal mission

11:34 am U.S. ET | April 21, 2015

A few months ago, Steve Cannon called on the heads of Group 1 and AutoNation for big favors -- and it had nothing to do with selling more cars. Instead, the CEO of Mercedes-Benz USA had a different mission in mind.... Read More »

Sheila Vaden-Williams, former head of minority auto dealers association, dies at age 55

11:20 am U.S. ET | April 21, 2015

Sheila Vaden-Williams, former president of the National Association of Minority Automobile Dealers, died Sunday. She was 55.... Read More »

China's Geely gears up for push into Europe, U.S.

April 21, 2015 08:38 CET

Chinese automaker Geely plans to build a small SUV late next year that will go on sale in China in early 2017, several European markets a year or so later, and eventually the U.S., sources said. For export to Europe, the SUV will initially be a plug in hybrid because Geely wants to be seen as a maker of affordable high-tech cars rather than just a cheap Chinese brand.... Read More »

Piech is Germany's best paid chairman, survey says

April 21, 2015 12:56 CET

VW Group Chairman Ferdinand Piech is Germany's best paid supervisory board chief, a survey showed. Piech's compensation rose last year to 1.47 million euros ($1.57 million), reflecting VW's record 2014 profit and deliveries.... Read More »

PSA lifts European output as market upturn helps turnaround plan

April 21, 2015 10:55 CET

PSA will boost European production by 10 percent as a market rebound and demand for models including the Peugeot 208 subcompact and Citroen C4 Cactus crossover help boost the carmaker a year into a major turnaround plan.... Read More »

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Volvo's future rides on revived XC90

April 21, 2015 06:15 CET

Volvo says its all-new XC90 flagship represents the future of the automaker, which aims to nearly double global sales to 800,000 vehicles by 2020.... Read More »

Phil Martens out as CEO of aluminum supplier Novelis

1:56 pm U.S. ET | April 20, 2015

Top aluminum rolled products maker Novelis announced Monday the surprise departure of CEO Philip Martens -- a former rising star executive at Ford -- who helped the India-owned supplier shift toward the automotive sector.... Read More »

Musk nearly sold Tesla to Google in 2013, new book says

11:33 am U.S. ET | April 20, 2015

A book titled Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future says Musk had a deal with Google's Larry Page to sell Tesla to the technology giant before the electric-car maker saw a turnaround in its fortunes.... Read More »

Ex-rival revamps Mitsubishi design

12:01 am U.S. ET | April 20, 2015

In his 40 years at Nissan, designer Tsunehiro Kunimoto had a knack for reinventing the brand's image through design. Now he aims to replicate that formula at Japanese rival Mitsubishi, which poached him last year to invigorate the brand's stale looks and lackluster reputation.... Read More »

Geely takes aim at BMW, Mercedes with plans for sport sedan

7:56 am U.S. ET | April 20, 2015

Geely is showcasing a concept sport sedan at the Shanghai auto show this week that was developed by a team led by former Volvo Cars design chief Peter Horbury. The segment is dominated by models like the BMW 3 series and Mercedes-Benz CLS.... Read More »

Chevrolet explores autonomous driving with FNR concept

8:56 pm U.S. ET | April 20, 2015

Having just declared its goal of hitting 1 million vehicle sales in China by 2020, Chevrolet revealed a futuristic concept car at the Shanghai auto show meant to showcase its technical prowess to young Chinese buyers. The FNR concept, an acronym for the brand's “Find New Roads” theme, is a pod-like, science-fiction inspired autonomous electric vehicle.... Read More »

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