Company Information

Sonic Q1 profit falls 9% on weather, used-car start-up costs

11:30 am U.S. ET | April 22, 2014
Bad winter weather and costs associated with its standalone used-car store initiative contributed to a 9 percent drop in first-quarter profits for Sonic Automotive.... Read More »

 

GM requests protection in N.Y. court against ignition switch lawsuits

7:04 am U.S. ET | April 22, 2014
GM filed a motion in a federal bankruptcy court to enforce a bar on lawsuits related to ignition defects in cars sold before its 2009 bankruptcy as it fights a class-action lawsuit that seeks to set aside the restriction.... Read More »

 

New system, but no quick fix for GM

12:01 am U.S. ET | April 21, 2014
When General Motors last week unveiled a new way for dealers to order parts for the ignition-system recall, it reminded dealers of a hard truth: They'll be waiting for parts -- and placating impatient customers -- at least well into the autumn.... Read More »

 

Plaintiffs call GM bid to freeze ignition suit a 'red herring'

10:49 am U.S. ET | April 21, 2014
GM's bid to freeze a lawsuit over faulty ignition switches may compromise public safety, plaintiffs told a judge in California, calling the automaker's claim that its 2009 bankruptcy shielded it from the old GM's liabilities “irrelevant” and a “red herring.”... Read More »

 

PAUL MCVEIGH

China is key to Winterkorn's new strategy for VW

12:01 am U.S. ET | April 20, 2014
China looms large in Volkswagen CEO Martin Winterkorn's thoughts as he prepares his new "Future Tracks" strategy for the automaker.... Read More »

 

Volkswagen has agreed on budget car concept, design

April 20, 2014 05:31 CET
Volkswagen has agreed on the basic concept and design of a budget car for emerging markets, said Hans Demant, who is in charge of the project.... Read More »

 

Fiat reaches deal to start making Jeeps in China in 2015

April 19, 2014 18:29 CET
Fiat plans to begin making Jeeps in China, the brand's second-largest market, by late 2015 after reaching an agreement with local partner Guangzhou Automobile. Fiat will produce three new Jeep vehicles in the southern city of Guangzhou.... Read More »

 

LARRY P. VELLEQUETTE

CEO media scrums are as ineffective as they are dangerous

9:22 am U.S. ET | April 18, 2014
Journalists chasing a meaty story can act like a pack of wild dogs sometimes. But this week in New York -- and earlier this year at the Detroit auto show after landing her new job -- GM CEO Mary Barra and her entourage must have realized how injured wildebeests feel as they are set upon by jackals.... Read More »

 

YANG JIAN

French automakers are poised to grab market share in China

12:01 am U.S. ET | April 18, 2014
PSA/Peugeot-Citroen and Renault will soon become forces to be reckoned with in China. PSA is racing to introduce new products while Renault prepares to start local production.... Read More »

 

GM says recalled cars safe, but has not tested for knee-bump danger

9:24 pm U.S. ET | April 17, 2014
General Motors says that cars being recalled because of faulty ignition switches can be driven safely before repairs, based on more than 80 tests, but the automaker has not addressed a problem long known to potentially shut off the engine: a simple bump from a driver's knee.... Read More »

 

GM doesn't have to order customers to park recalled cars, U.S. judge rules

1:01 pm U.S. ET | April 17, 2014
General Motors doesn't have to take the unprecedented step of telling car owners that 2.59 million vehicles it recalled are unsafe to drive until faulty ignition switches are fixed, a federal judge ruled. Federal regulators are better able than courts to tell the automaker how to manage its recall, District Judge Nelva Gonzales Ramos held today in Corpus Christi, Texas.... Read More »

 

AutoNation says Q1 net income rose 15% to $95.1 million

7:11 am U.S. ET | April 17, 2014
Despite 10 weeks of problematic winter weather to start the year, a late March rebound in dealership traffic helped drive AutoNation's net income 15 percent higher in the first quarter of 2014 from the year-earlier period, the company said today.... Read More »

 

HANS GREIMEL

A rare misfire for Subaru with new Levorg wagon?

10:39 am U.S. ET | April 17, 2014
Subaru, one of the hottest brands in the United States, may have chalked up a rare misfire with its newest nameplate -- a small wagon dubbed the Levorg.... Read More »

 

BRUCE GAIN

PSA will survive for now, but long-term challenges remain

6:42 am U.S. ET | April 17, 2014
PSA/Peugeot-Citroen CEO Carlos Tavares' Back in the Race business plan and a cash injection from Chinese partner Dongfeng are almost certainly enough to ensure his company's short-term survival, but PSA's long-term prospects remain uncertain.... Read More »

 

Johnson Controls diversifies away from autos with $1.6 billion deal

2:54 pm U.S. ET | April 16, 2014
Johnson Controls, seeking to lessen its reliance on the cyclical auto industry, agreed to acquire Texas-based ventilation products company, Air Distribution Technologies, for $1.6 billion.... Read More »

 

2014 NEW YORK AUTO SHOW

Scion charts new lineup for U.S.

12:37 pm U.S. ET | April 16, 2014
Toyota's Scion brand, struggling to boost sales with aged products, plans to replace three of its five nameplates in the United States over a two-year period starting in 2015. The first of the three will be unveiled at the Los Angeles Auto Show in November, Scion Vice President Doug Murtha said in an interview today.... Read More »

 

2014 NEW YORK AUTO SHOW

Hopes dim for VW’s diesel hot hatch in U.S.

3:56 pm U.S. ET | April 16, 2014
VW has pulled back on plans to sell a souped-up diesel Golf called the GTD in the United States because importing the GTI sibling’s engine would add too much cost. The high-powered 2-liter TDI engine used in the GTD cannot be produced at VW’s engine plant in Silao, Mexico, so it would be imported from Germany, Volkswagen Group of America CEO Michael Horn told reporters today.... Read More »

 

U.S. senators press Delphi for answers on recalled GM cars

1:46 pm U.S. ET | April 16, 2014
Lawmakers probing how GM used faulty ignition switches in many vehicles are turning their scrutiny to the supplier of the part, Delphi Automotive. A group of senators on Tuesday wrote to Delphi CEO Rodney O'Neal, asking for information about whether the parts supplier pushed back against GM after the automaker apparently did not accept a proposed fix to the switches.... Read More »

 

JIM HENRY

Inquiry into alleged CFPB bias picks up steam

12:01 am U.S. ET | April 16, 2014
The issue of whether, ironically, the Consumer Financial Protection Bureau allegedly discriminates against its own employees has got legs.... Read More »

 

LINDSAY CHAPPELL

Brace yourself for 'velocity'

1:06 pm U.S. ET | April 16, 2014
There’s a new buzzword trending through the car business right now: velocity. It has been popping up in conversations and presentations for a while, and is on the lips of visitors here at the New York auto show. And it might be a good thing.... Read More »

 

Fields sees Ford Europe growth, eyes break-even by mid-decade

11:19 am U.S. ET | April 16, 2014
Ford is sticking with its forecast for a smaller loss in Europe this year and break-even by 2015 even as the company sees signs of growth, COO Mark Fields said today.... Read More »

 

GM rejected better ignition part in 2001 to save money, safety advocates say

10:36 am U.S. ET | April 16, 2014
General Motors chose not to use a more robust ignition-switch part in Chevrolet Cobalts and other small cars while they were being designed, a decision that may have led to deaths, safety advocates said.... Read More »

 

Daimler will receive 2.43 billion euros for stake in engine JV from Rolls-Royce

April 16, 2014 12:40 CET
Daimler will receive 2.43 billion euros ($3.36 billion) for its 50 percent stake in an engine joint venture from partner Rolls-Royce Holdings Plc.... Read More »

 

Bridgestone executives indicted for auto parts price fixing

6:27 pm U.S. ET | April 15, 2014
One current Bridgestone executive and two who formerly worked for the Japanese tire company have been indicted by a federal grand jury in Cleveland for allegedly conspiring to fix automotive-part prices. And a fourth executive formerly employed by Bridgestone agreed to plead guilty in a related case today.... Read More »

 

2014 NEW YORK AUTO SHOW

Chevy enters small crossover segment with the Trax

7:00 pm U.S. ET | April 15, 2014
Chevrolet is adding the Trax to its lineup in the United States, making it the latest brand to enter the budding market for petite crossovers. The 2015 Trax was unveiled Tuesday, on the eve of the New York auto show.... Read More »

 

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