Business and Finance

VW's Scania bid backed by big investor at Swedish truckmaker

April 24, 2014 12:36 CET
Volkswagen moved closer to sealing a 6.7 billion euro ($9.3 billion) deal for the rest of truckmaker Scania after a major shareholder, Swedbank Robur, said it would accept VW's offer for its shares.... Read More »

 

Sogefi posts loss on restructuring costs, currency woes

April 24, 2014 11:52 CET
Sogefi reported a net loss of 6.3 million euros for the first quarter after results were hit by restructuring charges and the negative effect of exchange rates.... Read More »

 

Johnson Controls profit rises 59% on increase in automotive business

April 24, 2014 06:01 CET
Johnson Controls, which counts on Europe for about half of its sales, reported a 59 percent jump in quarterly profit, helped by higher sales in its automotive unit.... Read More »

 

AUTOMOTIVE NEWS EUROPE E-MAGAZINE

Kia enhances Soul's SUV traits

April 24, 2014 06:01 CET
Rising demand for subcompact-sized SUV-styled models has driven Kia to put more emphasis on the latest Soul's crossover characteristics.... Read More »

 

Opel CEO targets No. 2 sales position in Europe in comeback drive

6:19 am U.S. ET | April 23, 2014
GM's Opel brand is targeting second place in deliveries in Europe in the coming years as new models attract buyers. Opel currently is the third-largest brand in the region, behind VW and Ford, according to data from the ACEA trade group.... Read More »

 

GM's 1st-quarter profit to take hit from recalls

1:15 pm U.S. ET | April 23, 2014
This was supposed to be the year when GM made a record $10 billion in profit. But the company, rocked by a recall crisis, will be hard pressed to avoid posting a loss when first-quarter earnings are released on Thursday. The cost of recalling millions of vehicles -- combined with continued losses in Europe and new challenges in Russia, Australia, Asia and South America -- have prompted analysts to downgrade their earnings estimates for the company.... Read More »

 

Jaguar, Land Rover, Ford gain in blue-sky store values

2:42 pm U.S. ET | April 23, 2014
Jaguar, Land Rover and Ford saw their blue-sky multiples increase in the second half, according to a study by a dealership buy/sell advisory firm. But BMW, Mini, Hyundai, VW and Mazda saw theirs decrease.... Read More »

 

CPO sales rise 11% in 1st quarter

2:46 pm U.S. ET | April 23, 2014
Industrywide sales of certified used vehicles rose 11 percent in the first quarter from the year-earlier level, with many companies registering double-digit increases.... Read More »

 

2015 Ford Mustang order guide hints at key options

2:04 pm U.S. ET | April 23, 2014
The 2015 Ford Mustang order guide is now available to U.S. dealers and the options include a lot of familiar stuff such as racing stripes and tech packages.... Read More »

 

Asbury 1st-quarter sales, continuing-operations profit rise

3:00 pm U.S. ET | April 23, 2014
Asbury Automotive Group reported a 3 percent profit slide for the first quarter of 2014, but improvements in all parts of the business drove profits from continuing operations up sharply.... Read More »

 

Q&A

AutoNation swipes at third-party car sites as it builds digital footprint

3:26 pm U.S. ET | April 23, 2014
AutoNation wants to reduce its dependency on online lead generators and third-party shopping sites. The United States' largest dealership group plans to build up the group's Web sites to capture online shoppers, part of a multiyear, $100 million campaign to rebrand itself.... Read More »

 

Asbury to open 2 used-vehicle stores; COO to retire

7:35 am U.S. ET | April 23, 2014
Asbury Automotive said today it will open two stand-alone used-vehicle stores later this year. The company plans to open the two used-vehicle stores in Florida under the “Q auto” brand name.... Read More »

 

GM owners claim bankruptcy fraud to keep recall suits alive

2:33 pm U.S. ET | April 23, 2014
GM's request for court protection from 50 car-owner lawsuits seeking compensation for millions of recalled autos with defective ignition switches was attacked as legally “unsupportable.”... Read More »

 

Showa latest supplier to plead guilty to price-fixing, will pay $19.9 million

12:01 pm U.S. ET | April 23, 2014
Showa has agreed to plead guilty to fixing the prices of electric power steering assemblies and to pay a million fine, the Justice Department said today.... Read More »

 

JIM HENRY

Why Group 1 finds F&I a tougher sell overseas

12:01 am U.S. ET | April 23, 2014
Think F&I managers have it tough making a sale in the United States? It’s a lot tougher in the United Kingdom and in Brazil, Group 1 Automotive says.... Read More »

 

Toyota's global sales top VW, GM for 3rd straight quarter

5:11 am U.S. ET | April 23, 2014
Toyota outsold VW Group and GM for a third straight quarter. Toyota sold 2.58 million units in the January-to-March period, it said today. Second place is too close to call as GM and VW said they each sold about 2.4 million vehicles.... Read More »

 

JCI Q1 profit rises 59% on increase in automotive business

7:57 am U.S. ET | April 23, 2014
Johnson Controls reported a 59 percent jump in quarterly profit, helped by higher sales in its automotive unit.... Read More »

 

J.D. Power to buy Korrelate to measure digital ad spending effectiveness

10:00 am U.S. ET | April 23, 2014
J.D. Power is acquiring analytics company Korrelate in a move to measure consumer online shopping behaviors and trends, the company said today.... Read More »

 

VW faces rising opposition to Scania bid as Alecta rejects offer

April 23, 2014 11:58 CET
VW faces increasing opposition to its 6.7 billion euro bid for the rest of Scania after Alecta, the truckmaker's third-biggest shareholder, rejected the offer.... Read More »

 

Tesla seeks workers for ex-Chrysler property in Calif.

7:22 am U.S. ET | April 23, 2014
Tesla Motors Inc. has leased an idled parts-distribution center in rural California where it plans to hire engineers and technicians as the maker of luxury electric cars expands operations.... Read More »

 

Fields to take Ford wheel at prime stage

12:01 am U.S. ET | April 23, 2014
When Mark Fields took charge of Ford's Americas operations nine years ago, it was a major repair job with record losses and a brush with bankruptcy. Today, Ford's North American operations are the envy of the industry. Now that Fields is poised to succeed Alan Mulally as CEO, he's taking charge of an automaker in its prime.... Read More »

 

AUTOMOTIVE NEWS EUROPE E-MAGAZINE

BMW woos U.S. buyers with 2 series

April 23, 2014 06:01 CET
BMW is aiming the 2-series coupe at drivers looking for performance and driving dynamics in a compact, rear-wheel-drive package.... Read More »

 

Toyota outsells VW, GM for 3rd straight quarter

April 23, 2014 11:11 CET
Toyota outsold VW Group and GM for a third straight quarter. Toyota sold 2.58 million units in the January-to-March period, it said today. Second place is too close to call as GM and VW said they each sold about 2.4 million vehicles.... Read More »

 

Siemens, BAIC to jointly build parts for green vehicles in China

April 23, 2014 06:01 CET
Germany's Siemens and state-owned Chinese automaker Beijing Automotive will form a joint venture to produce motors and inverters for hybrid and full-electric vehicles.... Read More »

 

JESSE SNYDER

New Russian outlook: 'Slower, lower, weaker'

12:01 am U.S. ET | April 23, 2014
Days after Russia annexed a province of Ukraine and U.S. and European forces mobilized, you would expect a conference in the United States on the future of the Russian auto industry to be pessimistic.... Read More »

 

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