AutomakersGM moving treasury office to Detroit headquarters from New York 9:35 am U.S. ET | May 22, 2013  GM said it will move its treasury office to its Detroit headquarters from New York in mid-2014, affecting about 70 employees.... Read More »
Daimler may sell company-owned German dealerships to cut costsMay 22, 2013 13:19 CET  Daimler may sell four company-owned Mercedes-Benz dealerships in Germany to cut costs and help close a profitability gap with rivals BMW and Audi. Daimler owns 98 Mercedes car showrooms that account for about half of its car sales in Germany, the brand's second-biggest market after the United States.... Read More »
PSA will close r&d site to reduce spendingMay 22, 2013 09:49 CET  PSA will shut a French r&d facility as part of a program to reduce spending.... Read More »
Two Denso execs to plead guilty to price fixing, U.S. saysMay 22, 2013 06:01 CET Two executives at Toyota-affiliated supplier Denso have agreed to plead guilty to conspiring to fix prices and have agreed to cooperate with an ongoing criminal investigation, the U.S. Justice Department said.... Read More »
Lutz's VL Automotive, Chinese supplier bid for Fisker, report saysMay 22, 2013 06:01 CET  A boutique carmaker led by a former GM executive Bob Lutz and China's largest auto parts supplier submitted an offer to buy cash-strapped automaker Fisker Automotive, people familiar with the matter told Reuters.... Read More »
VW to modify late-model diesels in N. America to prevent improper fuelingMay 22, 2013 06:01 CET  Volkswagen plans to refit more than a quarter million 2009-12 diesel cars to prevent North American customers from mistakenly pumping gasoline into the fuel tanks.... Read More »
Opel keeps Bochum logistics center open to fulfill contractMay 22, 2013 06:01 CET  Opel will keep a spare-parts distribution center open until 2016 at its plant in Bochum, Germany, as long as two years after car production ends at the site. The plant, which makes the Zafira minivan, is scheduled to close by the end of 2014 after workers rejected a restructuring plan in March that would have extended manufacturing there for another two years.... Read More »
NADA, automakers reach out with aid for tornado victims 7:23 pm U.S. ET | May 21, 2013 The National Automobile Dealers Association and several automakers are reaching out with assistance to dealers and victims affected by Monday's tornado in Oklahoma.... Read More »
Lutz's VL Automotive, Chinese supplier bid $20 million for Fisker, report says 2:02 pm U.S. ET | May 21, 2013  A boutique carmaker led by a former GM executive Bob Lutz and China's largest auto parts supplier submitted an offer of $20 million to buy cash-strapped automaker Fisker Automotive, people familiar with the matter told Reuters today.... Read More »
Marchionne apologizes for 'wop engine' comment 11:44 am U.S. ET | May 21, 2013  Chrysler-Fiat CEO Sergio Marchionne has issued a written apology to an Italian-American anti-bias organization for saying at the Detroit auto show that an Alfa Romeo needed a "wop" engine.... Read More »
VW to modify late-model diesels to prevent improper fueling 4:36 pm U.S. ET | May 21, 2013  Volkswagen plans to refit more than a quarter million 2009-12 diesel cars to prevent North American customers from mistakenly pumping gasoline into the fuel tanks.... Read More »
Subaru Forester tops Honda CR-V in small SUV review 9:38 am U.S. ET | May 21, 2013  The Subaru Forester small SUV beat the Honda CR-V and other rivals in testing by Consumer Reports, which ranked the model as its top pick in that segment.... Read More »
Two Denso executives to plead guilty to price fixing, U.S. says 10:54 am U.S. ET | May 21, 2013  Two executives at Toyota-affiliated supplier Denso have agreed to plead guilty to conspiring to fix prices and have agreed to cooperate with an ongoing criminal investigation, the federal Justice Department said today.... Read More »
Marchionne apologizes for 'wop engine' commentMay 21, 2013 17:44 CET  Fiat-Chrysler CEO Sergio Marchionne has issued a written apology to an Italian-American anti-bias organization for saying that an Alfa Romeo needed a "wop" engine.... Read More »
LUCA CIFERRI U.S. and Brazil bright spots for Fiat-Chrysler as Europe declines 12:01 am U.S. ET | May 21, 2013  Global April sales for Fiat-Chrysler show how much the Americas, especially the U.S. and Brazil, are supporting the automaker as deliveries in Europe fall.... Read More »
LUCA CIFERRI U.S. and Brazil bright spots for Fiat-Chrysler as Europe declines 12:01 am U.S. ET | May 21, 2013  Global April sales for Fiat-Chrysler show how much the Americas, especially the U.S. and Brazil, are supporting the automaker as deliveries in Europe fall.... Read More »
Ford to maintain Canadian factory footprint despite high labor costs 12:49 pm U.S. ET | May 21, 2013  Ford is confident it can preserve its manufacturing profile in Canada despite uncompetitive operating costs tied to the high Canadian dollar, the company's top executive in the country said today.... Read More »
2 congressmen ask Treasury for details on 2008-09 dealership closures 2:36 pm U.S. ET | May 21, 2013 Two congressmen -- one a former Ohio auto dealer and the other a Pennsylvania new- and used-car dealer -- have asked the U.S. Treasury Department to release materials detailing how General Motors and Chrysler dealerships were selected for closure during the 2008-09 restructuring.... Read More »
Former Saab CEO Jonsson, two other execs arrested on tax chargesMay 21, 2013 13:04 CET  Three former Saab executives, including former CEO Jan-Aake Jonsson and Chief Financial Officer Karl-Gustav Lindstroem, were arrested by Swedish prosecutors in an accounting-fraud probe.... Read More »
Mercedes workers end strike in S. AfricaMay 21, 2013 10:00 CET  A two-day strike at Mercedes-Benz's East London car plant in South Africa ended following crisis talks between management and a workers union.... Read More »
Magneti Marelli expands China production of lighting componentsMay 21, 2013 09:15 CET  Magneti Marelli has opened a plant in the southern China city of Foshan to produce rear lights, headlamps and other lighting components. The company aims to secure a 10 percent share of China's lighting market in the midterm.... Read More »
Schaeffler confirms 2013 outlook, net debtMay 21, 2013 11:14 CET German supplier Schaeffler has confirmed its annual forecast for revenue growth of about four percent and an operating profit margin of approximately 13 percent, despite a drop in first-quarter revenue of 3.6 percent to 2.8 billion euros ($3.6 billion).... Read More »
German brands enjoy sales boom in KoreaMay 21, 2013 06:01 CET  South Korea has become a growth market for BMW, Mercedes and Audi as lower tariffs make their cars cheaper and local buyers abandon a decades-long preference for domestic brands.... Read More »
Dongfeng-PSA sales rise 37% in April on new modelsMay 21, 2013 08:49 CET  PSA's China joint venture with Dongfeng Motor Corp. said it increased sales 37 percent last month to 45,303 units helped by strong demand for its stretched Citroen C4 and Peugeot 3008 models.... Read More »
WACKY, LIKE A FOX Goofy ads, variants help Mini rule its own little world 12:01 am U.S. ET | May 20, 2013  BMW, Mini's parent company, had forecast U.S. sales of 20,000 units of the original two-door in 2003, but 36,000 were sold. That was the beginning of Mini's surprising journey. And they quickly settled on an irreverent, even wacky, persona suited to buyers of what one dealership general manager calls "a happy car."... Read More »
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