Company Information

Opel CEO warns that 2016 profit target is under threat, report says

Dec. 20, 2014 22:07 CET
Opel CEO Karl-Thomas Neumann has warned top managers that the General Motors unit's 2016 profit target is under threat from economic setbacks, according to a German daily paper....
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U.S. auto recalls top 60 million as response to defects shift

9:38 am U.S. ET | Dec. 20, 2014
Automobile recalls surpassed the 60 million mark in the United States for the first time in a single year, largely because of the rush to prevent more deaths from defective General Motors ignition switches and Takata airbags....
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JAMES B. TREECE

Regulation vs. technology -- why are U.S. roads getting safer?

9:21 am U.S. ET | Dec. 20, 2014
Here's some good news you didn't read much about this year: US roads are safer. The number of people who died in traffic crashes fell 3 percent in 2013, the National Highway Traffic Safety Administration said on Friday....
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JIM HENRY

Free of U.S. ownership, Ally expects cheaper funds, maybe more subprime deals

3:13 pm U.S. ET | Dec. 19, 2014
Ally Financial is “free at last,” to borrow a phrase CEO Michael Carpenter used earlier this year to describe how it would feel for Ally finally to put six years of government ownership behind it....
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U.S. traffic fatalities fell 3% in 2013, return to record low rate

2:17 pm U.S. ET | Dec. 19, 2014
The number of people who died in traffic crashes fell 3 percent in the United States to 32,719 fatalities in 2013, the National Highway Traffic Safety Administration said today, crediting a combination of stricter regulation and advanced safety technology....
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Technology winning the war on auto theft, report shows

2:31 pm U.S. ET | Dec. 19, 2014
Vehicle security technology and communication with law enforcement have been standing between thieves and their targets, with last year's vehicle theft rate at its lowest since 1960, a National Insurance Crime Bureau report said....
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Mercedes recalls 8,279 Sprinter vans in U.S. for possible oil leak

11:02 am U.S. ET | Dec. 19, 2014
Mercedes-Benz is recalling 8,279 Sprinter vans in the United States because of a potential oil leak that would increase the risk of a fire or a stalling engine, according to documents filed by federal safety regulators....
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CarMax says Q3 net income rose 22% to $130 million

9:14 am U.S. ET | Dec. 19, 2014
CarMax, the largest used-car seller in the United States, said net income surged 22 percent in its third fiscal quarter as easier credit boosted vehicle sales....
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Renault works on Citroen C4 Cactus rival

Dec. 19, 2014 14:47 CET
Renault is developing an affordable small car that could preview a future rival to the Citroen C4 Cactus....
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Ally's six-year bailout ends after U.S. sells $1.28 billion stake

7:48 pm U.S. ET | Dec. 18, 2014
The Treasury disposed of its remaining $1.28 billion stake in auto lender Ally Financial, resolving the last big bailout from an emergency government program to halt the 2008 financial crisis. Ally said the government ultimately gained $2.4 billion from its investment....
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Toyota to invest $126M to expand powertrain operations, consolidate vehicle development in Mich.

11:10 am U.S. ET | Dec. 18, 2014
Toyota said today that it will invest $126 million to expand its powertrain operations in Ann Arbor, Mich., and consolidate vehicle development operations at a new facility in nearby York Township, Mich....
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Takata CEO takes out newspaper ads in reaction to airbag crisis

6:57 am U.S. ET | Dec. 18, 2014
Takata, the embattled airbag maker, stepped up its response to a global auto-safety crisis by distributing an open letter from its CEO in U.S. and German newspapers....
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Dealertrack expands beyond U.S. with acquisition of German software provider

11:54 am U.S. ET | Dec. 18, 2014
Dealer software giant Dealertrack Technologies is expanding beyond North America with the acquisition of incadea, a dealer software provider based in Germany. Dealertrack plans to pay just over $190 million in cash for publicly traded incadea, the companies said today....
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VW said to push forward with main car-brand margin revival plan

Dec. 18, 2014 17:29 CET
Volkswagen approved projects for adding several hundred million euros to earnings in coming years in its effort to almost triple profit margins at the namesake car brand, according to sources....
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AUTOMOTIVE NEWS EUROPE E-MAGAZINE

Audi boss calls A3 e-tron the 'perfect' EV

Dec. 18, 2014 17:03 CET
Audi CEO Rupert Stadler calls the A3 Sportback e-tron the “perfect electric vehicle for every day driving.” He says that because 80 percent of daily roundtrip commutes in Europe are less than 50km, which is the A3 e-tron's electric-only range....
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Former Saab owner Spyker is bankrupt

Dec. 18, 2014 15:38 CET
Spyker -- the Dutch supercar maker that was hurt by its acquisition of Saab from General Motors -- was today declared bankrupt even as founder and CEO Victor Muller vowed to revive the company....
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Bosch's automotive head quits to become CEO of Mahle

Dec. 17, 2014 18:09 CET
The head of Bosch's automotive division, Wolf-Henning Scheider, has quit the world's top-ranked supplier to head smaller German rival Mahle, a maker of engine components....
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Takata says it has sufficient funds to deal with recalls

10:27 pm U.S. ET | Dec. 17, 2014
Airbag maker Takata has sufficient funds to deal with a global recall that has climbed to about 21 million vehicles after five deaths linked to its products, the company's CEO told the Nikkei newspaper....
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Honda ran tests on fatal airbag flaw, frustrated by Takata reticence, report says

7:34 am U.S. ET | Dec. 17, 2014
Honda was so concerned by mounting recalls for Takata airbags -- and frustrated by its supplier's failure to explain why some have exploded, killing five people with shrapnel -- that it bought used and scrapped cars in Japan to conduct its own tests....
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Visteon to sell Halla Climate unit stake for $3.6 billion

12:38 pm U.S. ET | Dec. 17, 2014
Visteon has agreed to sell a majority stake in Halla Visteon Climate Control to South Korea’s Hankook Tire and its investment partner for $3.6 billion, to focus on connected-vehicle solutions and cockpit electronics....
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JIM HENRY

Will the CFPB redefine “larger”?

12:01 am U.S. ET | Dec. 17, 2014
Auto industry watchers that formally weighed in on the Consumer Financial Protection Bureau’s definition of “larger” auto lenders took predictable positions before the public comment period closed last week....
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VW will oust head product strategist, report says

Dec. 17, 2014 15:22 CET
Volkswagen will oust its head product strategist, Klaus-Gerhard Wolpert, sources said, as the company increases efforts to raise profitability. Former Porsche executive Wolpert, who oversees strategy affecting more than 100 models across the multi-brand group, will be moved to VW's heavy trucks division, two sources told Reuters....
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Supplier Brose to invest $97.6M in Detroit area expansion, add 388 jobs

8:21 am U.S. ET | Dec. 17, 2014
Brose North America plans to invest $97.6 million to expand at three locations around Detroit, generating 388 new jobs....
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THE GM RECALL

GM customers demand payment for 'callous cover-up' of defect

7:56 am U.S. ET | Dec. 17, 2014
Owners of General Motors cars with faulty ignition switches turned to the only judge who can help them, saying it's wrong to shield the automaker behind bankruptcy law....
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Alfa Romeo readies high-performance engines

Dec. 17, 2014 08:55 CET
Alfa Romeo plans to introduce new high-performance engines, including a range-topping V-6, in a bid to reconnect the brand to its sporty heritage....
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Canadian dealer buries a Jeep, hires an ambassador and puts on the Ritz

Canadian dealer buries a Jeep, hires an ambassador and puts on the Ritz

At Bay King Chrysler, Dodge, Jeep, Ram in Hamilton, Ontario, dealer Jamie Richter has put luxury-hotel touches in his new showroom. They include concierges who see to the needs of service customers. Mon., December 15
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