Business and Finance

Warren Buffett is bullish on GM, Detroit

3:33 pm U.S. ET | Sept. 18, 2014
Billionaire investor Warren Buffett said today he is bullish on Detroit and General Motors -- and said he's impressed with CEO Mary Barra....
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Calif. grants 29 permits to test self-driving Lexus, Mercedes, Audi cars

1:44 pm U.S. ET | Sept. 18, 2014
California issued its first 29 permits this week to three companies to test self-driving cars on public roads, state officials said today....
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Lotus plans to cut up to 325 jobs to reduce losses

Sept. 18, 2014 18:41 CET
UK sports car maker Lotus said it plans to cut as many as 325 jobs, a quarter of its workforce, as it seeks to reduce losses....
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ZF net debt seen at $11 billion after TRW deal, report says

Sept. 18, 2014 18:05 CET
ZF's net debt will rise to about 8.5 billion euros ($11 billion) -- about 2.4 times core earnings -- after it buys rival TRW, a banker familiar with the deal said. Earlier this week, ZF agreed to buy TRW for $13.5 billion including debt....
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VW's German workers will seek above-inflation pay hike

Sept. 18, 2014 23:49 CET
VW's German workers will push for above-inflation pay increases next year, even as the carmaker seeks to cut costs and boost flagging profitability in its core division, the IG Metall labor union said....
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Fiat Chrysler locates new HQ in London's West End

Sept. 18, 2014 15:58 CET
Fiat Chrysler will locate its new global headquarters in St James's Street in London's West End, near Buckingham Palace. London is neutral territory between the Italian carmaker's former HQ in Turin and Chrysler's historic association with Detroit....
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House bill proposes tougher auto safety rules

6:15 pm U.S. ET | Sept. 18, 2014
House Democrats introduced another bill Thursday to toughen federal auto safety laws after the National Highway Traffic Safety Administration came under more criticism by U.S. lawmakers this week for its handling of the General Motors ignition switch recalls....
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7 Japanese supplier execs indicted in price-fixing scheme

4:09 pm U.S. ET | Sept. 18, 2014
A federal grand jury in Detroit has indicted seven executives from Japanese auto suppliers Mitsubishi Electric and Hitachi Automotive Systems for their alleged roles in a conspiracy to fix auto parts prices, the Justice Department said today....
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China's Wanxiang to relaunch Fisker Karma with 2012 design, report says

4:32 pm U.S. ET | Sept. 18, 2014
Chinese auto parts producer Wanxiang Group, which bought electric car pioneer Fisker Automotive from bankruptcy, is accelerating the relaunch of Fisker's Karma hybrid luxury car by using a design from the company's last year of production, people close to the companies said....
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Alabama steel plant's new owners pledge more supply

4:16 pm U.S. ET | Sept. 18, 2014
North American auto plants soon should see an improved and greater supply of the high-strength steels needed to reduce vehicle weight and improve fuel economy, thanks to a change in ownership earlier this year of an advanced steel-finishing plant near Mobile, Ala....
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AutoNews Now: Keeping watch over captives

12:01 am U.S. ET | Sept. 18, 2014
U.S. takes aim at 'silent pickpocket of discrimination'; Fiat Chrysler's London digs; when Leafs get lucky?...
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RICHARD TRUETT

Why Toyota punted on a V-6 in the Tundra for '15

11:58 am U.S. ET | Sept. 18, 2014
It's rare when Toyota admits defeat and folds -- especially when it comes to engines and fuel economy. But that's what happened last week when Toyota introduced the 2015 Tundra pickup and revealed that the big truck would be available only with V-8 engines....
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Lotus may cut workforce 27% in restructuring

1:49 pm U.S. ET | Sept. 18, 2014
Group Lotus, the maker of exotic British sports cars, may reduce its workforce by 27 percent to cut costs. As many as 325 of the 1,215 people employed at the company could lose their jobs as the manufacturer restructures, Lotus said Thursday....
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ZF's Sommer sees more acquisitions beyond TRW purchase

Sept. 18, 2014 09:05 CET
ZF, which agreed to buy TRW Automotive Holdings for $13.5 billion including debt, sees a need for more acquisitions as even the largest auto suppliers seek size and technology....
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Hyundai Motor's record $10 billion bid for trophy property alarms investors

11:33 am U.S. ET | Sept. 18, 2014
Hyundai Motor Group will pay a record $10 billion for the site of its new headquarters in Seoul's high-end Gangnam district, out-bidding Samsung Electronics and sparking investor concerns that it is wasting cash on a trophy property....
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GM recalling natural gas-powered vans due to possible leak

10:40 am U.S. ET | Sept. 18, 2014
General Motors will recall about 3,200 vans powered by natural gas because of the possibility of a gas leak that increases the risk of a fire, the automaker said today....
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Fiat Chrysler's new HQ will be a short stroll from Buckingham Palace

9:54 am U.S. ET | Sept. 18, 2014
Fiat SpA will locate its new global headquarters in London's West End, opting for the most expensive office district in the world....
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Bentley adds models in Korea on rising ultraluxury demand

Sept. 18, 2014 12:25 CET
Bentley is adding new models in South Korea as the brand sees increased competition for ultraluxury cars in the market. The automaker says its dealership in Seoul has seen a 133 percent jump in deliveries so far this year....
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Mercedes opts for cloud-computing setup to protect data from hackers

Sept. 18, 2014 13:22 CET
Mercedes is using a cloud-computing setup to protect data generated by vehicles as the industry moves toward driverless cars. Automakers are looking for ways to stop hackers from gaining information or even hijacking vehicles by remote control....
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2014 PARIS AUTO SHOW

SsangYong set to join expanding subcompact SUV segment

Sept. 18, 2014 11:46 CET
SsangYong will preview two subcompact SUV concepts in Paris next month, ahead of the launch of a production model, the X100, next year. SsangYong is the latest automaker to join the fast-growing small SUV segment....
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2014 PARIS AUTO SHOW

Toyota concept previews new crossover

Sept. 18, 2014 06:01 CET
Toyota will unveil the C-HR concept at the Paris auto show. The concept previews a potential new entry in Europe's booming crossover segment....
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Lear contract first step in eliminating two-tier wages, Canadian union chief says

12:01 am U.S. ET | Sept. 18, 2014
The head of Canada's largest auto worker union said a tentative UAW contract ending two-tier pay disparity at a Lear seat plant in Indiana was the first step in eliminating the practice at Detroit 3 plants in the United States....
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2014 Eurostar winner Didier Leroy

Sept. 18, 2014 06:01 CET
The executives chosen as 2014 Automotive News Europe Eurostars rose above the rest by pushing their companies to new heights. Toyota Europe CEO Didier Leroy is this year's winner for European Operations CEO....
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Toyota to boost Mexico truck plant capacity by 41%

8:50 pm U.S. ET | Sept. 17, 2014
As Toyota ponders its first full assembly plant in Mexico, it plans to boost capacity at its existing factory there almost 40 percent to feed demand for trucks....
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AutoNews Now: Losing weight by keeping steel

12:01 am U.S. ET | Sept. 17, 2014
In study, pickup sheds 383 lbs. without going aluminum; sales up again in Europe; Ford tech-sharing; a Toyota for gamers....
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Defying Dad, by building on his legacy

At Courtesy Auto Group in Illinois, Ray and Rik Fregia are seeing sales boom after million-dollar overhauls at their three stores. Mon., September 15
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