Mergers - Acquisitions - TakeoversJCI turns to private equity to sell auto electronics unit, report says 6:40 pm U.S. ET | June 17, 2013  Johnson Controls is speaking to private equity firms about selling its roughly $1 billion automotive electronics unit, after buyout interest from several rival auto parts suppliers faltered, according to several people familiar with the matter.... Read More »
Porsche-Piech family buys Qatar's 10% stake in VW's majority ownerJune 17, 2013 11:19 CET  The Porsche-Piech family bought Qatar Holding's 10 percent stake in Porsche Automobil Holding SE to regain full control of the majority owner of Volkswagen Group.... Read More »
With Polk deal, IHS expands auto data empire 12:01 am U.S. ET | June 17, 2013  One of the best-known and longstanding names in automotive data, R.L. Polk, is being absorbed into one of the fastest-growing research firms, IHS Automotive.... Read More »
Dealer Buy and Sell 12:01 am U.S. ET | June 17, 2013 Buyers include Lithia, Garff, Pope, Fenton and Jenkins. Sellers include Roberson, O'Brien and Group 1.... Read More »
Spain's CIE and India's Mahindra agree on deal to create major supplierJune 15, 2013 17:56 CET  Spain's CIE Automotive will buy a majority stake in the combined auto component unit of India's Mahindra Group to create a new company that will become one of the top 25 global suppliers, with annual sales of $3 billion and operations from North America to Asia.... Read More »
Apollo's second offer to buy Cooper creates new global tire giant 11:59 am U.S. ET | June 13, 2013  Apollo Tyres' $2.5 billion offer to buy Cooper Tire & Rubber, announced this week, wasn't the first time the Indian company tried to acquire the American tire producer. Now the combined company promises to be a major player in the world tire business, with numerous connections to automakers.... Read More »
Eaton CEO: We're not selling auto unit 3:56 pm U.S. ET | June 12, 2013  Engine supplier Eaton Corp.'s top executive today strongly denied a report that the company is considering a sale of its automotive business.... Read More »
AUTOMOTIVE NEWS EUROPE E-MAGAZINE As Renault slumps in Europe, Nissan's importance is increasingJune 12, 2013 06:01 CET  More than two decades after Renault rescued Nissan from near-bankruptcy, the Japanese company is now helping its French partner as the euro-zone crisis weighs heavily on Renault's results. Last month, Nissan had contributed 433 million euros ($562 million) to the French carmaker's first-quarter earnings, underscoring the considerable benefit to Renault of its 43.4 percent stake in the larger and more profitable Japanese carmaker.... Read More »
Saab parent's $3 billion lawsuit versus GM thrown out by U.S. judge 5:12 pm U.S. ET | June 10, 2013  Dutch sports car maker Spyker NV's $3 billion lawsuit accusing General Motors of trying to bankrupt Swedish automaker Saab was dismissed Monday by a federal judge who said GM had the right to block the sale of a company using its technology.... Read More »
Lithia adds BMW, Honda, VW stores in Oregon to growing roster 6:40 pm U.S. ET | June 10, 2013  Lithia Motors has acquired three new-car dealerships in Oregon that will add $110 million in estimated annual revenues. Lithia said Monday it had purchased the O'Brien Auto Group of Salem in Salem, Ore.... Read More »
Saab parent's $3 billion lawsuit versus GM thrown out by U.S. judgeJune 10, 2013 23:12 CET  Dutch sports car maker Spyker's $3 billion lawsuit accusing General Motors of trying to bankrupt Swedish automaker Saab was dismissed by a judge who said GM had the right to block the sale of a company using its technology.... Read More »
IHS to acquire Polk in $1.4 billion deal 10:47 am U.S. ET | June 10, 2013  IHS has agreed to acquire privately held RL Polk, the owner of used-car history provider Carfax and a leading provider of auto industry data, in a deal valued at $1.4 billion.... Read More »
Former Porsche CFO Haerter fined 630,000 euros for credit fraud in VW caseJune 4, 2013 13:19 CET  Former Porsche CFO Holger Haerter has been fined 630,000 euros ($824,000) by a German court for credit fraud in a criminal case over the refinancing of a 10 billion euro loan during a failed bid to takeover Volkswagen in 2009.... Read More »
Fiat owner Exor sells stake in SGS for $2.6 billionJune 3, 2013 11:19 CET  Exor, the Agnelli family company which controls Fiat, has sold a 15 percent stake in Swiss company SGS for 2 billion euros ($2.6 billion). The move frees up resources ahead of the automaker's planned merger with Chrysler Group.... Read More »
Dealership Buy/Sell 12:01 am U.S. ET | June 3, 2013 Buyers include Rick Berry, Tate's Auto Group, #1 Cochran, Sonic Automotive and Rick Wilson, Wilson Motors. Sellers are Harvey and Peter Cake, Billco Motors, Murray Motor Imports Co., Denver and Frank King.... Read More »
Enterprise buys I-Go, a car-sharing service 12:01 am U.S. ET | June 3, 2013 Enterprise Holdings Inc., the parent of Enterprise Rent-A-Car, Alamo and National, has acquired I-Go, a Chicago nonprofit car-sharing service with about 15,000 members. The purchase price was not disclosed.... Read More »
Fiat reassures Italy on jobs as Chrysler merger loomsMay 31, 2013 15:13 CET  Fiat CEO Sergio Marchionne assured Italy's industry minister at that the automaker will not cut jobs in its home market.... Read More »
Fiat reassures Italy on jobs as Chrysler merger looms 9:13 am U.S. ET | May 31, 2013  Fiat CEO Sergio Marchionne assured Italy's industry minister that the automaker will not cut jobs in its home market.... Read More »
Fiat awaits court verdict ahead of Chrysler mergerMay 30, 2013 21:28 CET  Fiat will wait until a legal dispute is resolved between the automaker and the United Auto Workers' retiree healthcare trust before merging with Chrysler, Fiat Chairman John Elkann said.... Read More »
Fiat preparing $10 billion in financing for Chrysler merger, report says 6:36 pm U.S. ET | May 29, 2013  Fiat is in talks for as much as $10 billion in financing from a pool of banks to buy the Chrysler Group stake it doesn't own and refinance the two automakers' debt, people familiar with the matter told Bloomberg on Wednesday.... Read More »
Fiat preparing $10 billion in financing for Chrysler merger, report saysMay 30, 2013 00:36 CET  Fiat is in talks for as much as $10 billion in financing from a pool of banks to buy the Chrysler stake it doesn't own and refinance the two automakers' debt, sources said.... Read More »
Enterprise acquires Chicago's nonprofit I-Go car-sharing service 5:10 pm U.S. ET | May 28, 2013  Enterprise Holdings, the parent of Enterprise Rent-A-Car, Alamo and National, has acquired Chicago-based nonprofit car-sharing service I-Go, the companies announced Tuesday.... Read More »
Chinese interior-trim supplier Huaxiang acquires German counterpart HIBMay 28, 2013 14:31 CET Ningbo Huaxiang Electronic Co., a major Chinese interior-trim supplier, has acquired German counterpart HIB Trim Part Solutions Group. HIB supplies wood, metal and carbon fiber interior trim to BMW, Daimler and Volkswagen Group.... Read More »
Sonic, back in acquisition market, buys 2 stores in Denver 2:36 pm U.S. ET | May 24, 2013  Sonic Automotive is back in the dealership acquisition market with the purchase of large BMW and Mercedes stores in Denver.... Read More »
Lutz's VL Automotive, Chinese supplier bid for Fisker, report saysMay 22, 2013 06:01 CET  A boutique carmaker led by a former GM executive Bob Lutz and China's largest auto parts supplier submitted an offer to buy cash-strapped automaker Fisker Automotive, people familiar with the matter told Reuters.... Read More »
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Special Report
 Dealer O.C. Welch's big-truck turnaroundAfter Mercury's demise, South Carolina Ford-Lincoln dealer O.C. Welch had to find a way to replace lost revenue. He decided to load up on Super Duty pickups – and sell them online. Mon., June 17» Watch the Video |
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