Company InformationBMW and PSA will review engine alliance next year, Reithofer tells paperDec. 2, 2013 10:32 CET BMW and PSA/Peugeot-Citroen will review their partnership on small gasoline engines next September, BMW CEO Norbert Reithofer told a French newspaper.... Read More »
AUTOMOTIVE NEWS EUROPE E-MAGAZINE Alfa's revised plan focuses on new rwd/awd architectureDec. 2, 2013 06:15 CET  The revised Alfa Romeo plan that Fiat boss Sergio Marchionne is expected to announce next April focuses on a new rear-wheel- and all-wheel-drive architecture that the automaker hopes will boost Alfa's global presence.... Read More »
Renault may boost Captur output as small SUV segment boomsNov. 30, 2013 06:01 CET  Renault may boost production of its Captur subcompact crossover by a third in 2014 as demand for small SUVs in Europe jumps.... Read More »
GM replacing China president as Socia retires after one year 8:20 am U.S. ET | Nov. 29, 2013  General Motors is replacing its president in China after a year. Matthew Tsien, 53, a GM vice president, will take over from Bob Socia, 59, when he retires on Jan. 1, the company said in a statement Friday. Unlike Socia, Tsien will report directly to CEO Dan Akerson instead of China Chairman Tim Lee.... Read More »
GM picks Tsien to succeed Socia as China presidentNov. 29, 2013 14:20 CET  GM will replace its president in China after a year. Matthew Tsien, 53, a GM vice president, takes over from Bob Socia, 59, when he retires on Jan. 1, the company said in a statement today. GM was outsold in China by VW in three of the past four quarters.... Read More »
PSA will invest 90 million euros in underutilized French plantNov. 29, 2013 06:01 CET  PSA plans to invest 90 million euros to add production of a new Peugeot compact at its underutilized Rennes plant in France. Output will begin in mid-2016.... Read More »
Lexus predicts record global salesNov. 29, 2013 06:01 CET  Despite its poor performance in Europe, Lexus will set a global sales record of more than 520,000 units this year. Mark Templin, executive VP of Lexus International, said that worldwide sales would "finish on the north side of 520,000," edging Lexus' high of 518,300 units in 2007.... Read More »
PHILIP NUSSEL With $1.8 billion in fines, it's time to compensate consumers for price-fixing 2:02 pm U.S. ET | Nov. 27, 2013  Kudos to the federal antitrust police for uncovering rampant price fixing throughout the automotive supply chain, but when do the victims of this massive fraud get some justice? When does the consumer collect damages? Is Uncle Sam planning to keep this money? The bottom line: the consumer should be made whole.... Read More »
New Mustang will premiere in 5 time zones 11:47 am U.S. ET | Nov. 27, 2013  The next Ford Mustang will have its world premiere on "Good Morning America" Thursday, Dec. 5 -- while saying "Good afternoon, Spain" and "Good evening, China" at the same time.... Read More »
JIM HENRY Enjoy the carve-out, dealers, while it's on the table 12:01 am U.S. ET | Nov. 27, 2013  While carving their turkeys this Thanksgiving, dealers can be thankful franchised new-car dealerships were carved out of the Consumer Financial Protection Bureau's jurisdiction after intense lobbying by the National Automobile Dealers Association.... Read More »
Chrysler IPO delayed by U.S. tax issue, sources sayNov. 27, 2013 06:01 CET  Chrysler Group has abandoned plans for an initial public offering this year so it can sort out a U.S. tax issue, said two sources familiar with the process.... Read More »
GM's $27 billion cash hoard seen tempting activistsNov. 27, 2013 06:01 CET  General Motors will be a tempting target for activist investors if it doesn't quickly return cash to shareholders from what the automaker calls its "fortress balance sheet."... Read More »
Toyo Tire to pay $120 million for price fixing, U.S. saysNov. 27, 2013 06:01 CET  Japan's Toyo Tire & Rubber has agreed to plead guilty to federal U.S. price-fixing charges and pay a $120 million criminal fine for its role in conspiracies involving auto parts, the Justice Department said.... Read More »
Toyo Tire to pay $120 million for price fixing, U.S. says 1:23 pm U.S. ET | Nov. 26, 2013  Japan's Toyo Tire & Rubber has agreed to plead guilty to federal price-fixing charges and pay a $120 million criminal fine for its role in conspiracies involving auto parts, the Justice Department said today.... Read More »
Chrysler IPO delayed by U.S. tax issue, sources say 6:17 am U.S. ET | Nov. 26, 2013  Chrysler's timeline hit a snag due to complications involving the conversion of the company from a limited liability company to a C corporation, sources told Reuters.... Read More »
Fisker sale may be approved Jan. 3, bankruptcy judge says 3:34 pm U.S. ET | Nov. 26, 2013  Fisker may be sold by Jan. 3 under an accelerated schedule approved by the judge overseeing its bankruptcy case. U.S. Bankruptcy Judge Kevin Gross on Tuesday approved a faster-than-normal sale process for the company, which filed for bankruptcy on Nov. 22.... Read More »
JAMIE LaREAU For a higher SAAR, sweeten the deals, analyst says 12:05 pm U.S. ET | Nov. 26, 2013  Dealers need sweeter deals to offer car shoppers. That's if the industry wants dramatic sales gains for the near future, said an analyst.... Read More »
GM’s $27 billion cash hoard seen tempting activists 9:09 am U.S. ET | Nov. 26, 2013  General Motors will be a tempting target for activist investors if it doesn't quickly return cash to shareholders from what the automaker calls its "fortress balance sheet."... Read More »
Jaguar Land Rover plans $437 million Brazil factory, gov't sources sayNov. 26, 2013 10:09 CET  Jaguar Land Rover will invest about 1 billion reais ($436.9 million) to build a new manufacturing plant in Brazil's state of Rio de Janeiro, three government sources told Reuters. Production at the factory, to be built in the city of Itatiaia, could begin as early as 2015.... Read More »
TrueCar said to consider IPO in 2014 6:52 am U.S. ET | Nov. 25, 2013  TrueCar is considering selling shares in an initial public offering in the first half of 2014, two people with knowledge of the matter said.... Read More »
PSA hires Tavares as next CEONov. 25, 2013 19:13 CET  PSA has hired former Renault executive Carlos Tavares to replace Philippe Varin as CEO in 2014.... Read More »
Fiat says no Chrysler IPO in 2013 5:00 am U.S. ET | Nov. 25, 2013  The planned stock market listing of Fiat's U.S. unit, Chrysler, will not take place this year, the Italian carmaker said today, prolonging the uncertainty over its chances of buying out the rest of the company.... Read More »
Volvo secures $800 million loan from China Development Bank 9:49 am U.S. ET | Nov. 25, 2013  Volvo Cars, struggling to restore profits since Zhejiang Geely Holding Group acquired the company from Ford in 2010 for $1.8 billion, signed a second loan agreement with China Development Bank.... Read More »
GM investors expect buybacks, dividend after U.S. exit 3:06 pm U.S. ET | Nov. 25, 2013  General Motors investors are focused on the possibility of stock buybacks or a dividend on common shares now that the Treasury has outlined its plans to sell the rest of its GM stake by year end, analysts said.... Read More »
Dataium settles with New Jersey over sharing consumer data 3:52 pm U.S. ET | Nov. 25, 2013 An automotive market research company has settled with the state of New Jersey after being accused of using software code to monitor online consumer behavior without consent. Dataium, which tracks the online shopping activity of 20 million vehicle shoppers each month, says it agreed to a $400,000 settlement to avoid the cost of litigation.... Read More »
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