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GM exodus would put Australian auto industry near extinction
SYDNEY (Bloomberg) -- Australia's century-old automotive industry is stepping closer to extinction after General Motors Co. joined Ford Motor Co. in deciding to stop making cars in the country. Seven months after Ford announced it would pull out, GM said Tuesday its Holden unit will cease
SGL says up to 300 jobs affected by cost-cutting program
FRANKFURT -- Germany's SGL Group, which helps make carbon fiber reinforced parts for BMW Group's electric i3, said in a statement that its global work force will be reduced by up to 300 jobs as part of a cost-cutting program. Of the 150 million euros ($206 million) in annual cost savings it aims to
Ford joins driverless car stampede
DETROIT -- Add Ford Motor Co. to the growing list of automakers working to bring driverless cars to the market. Ford announced a partnership with the University of Michigan and State Farm Mutual Automobile Insurance Co. to test how the technology might be applied to reduce congestion and improve
Barra's promotion to GM CEO welcomed in Germany
The appointment of Mary Barra as General Motors' next CEO has been welcomed in Germany, home of the automaker's struggling Opel unit. "It's a new beginning," Ferdinand Dudenhoeffer, director of the Center for Automotive Research at the University of Duisburg-Essen, told Automotive News Europe . ...
Pony car offers plenty of FandI opportunities
Ford brand salespeople will find a lot to like in the redesigned 2015 Ford Mustang. So will Ford FandI managers. Ford salespeople will appreciate, and tout to customers, how the Mustang saves gas, with the optional EcoBoost engine; handles more like a sporty European car, with a multilink rear ...
FORD MOTOR CO.
Expires Jan. 2. In lieu of rebates, cut-rate financing
Ford Flex, Taurus $2,500-$3,750 0-3.9%
Expedition, Explorer $2,000 0-3.9%
Focus, Mustang $1,500-$2,000 0-4.9%
(incl. cargo van) $1,000-$1,500 0.9-4.9%
EPA says fuel economy of 2012 models sold in U.S. hit record 23.6 mpg
Higher sales of vehicles with smaller engines, gasoline-electric hybrids and diesel powertrains helped boost the average fuel economy of 2012 new vehicles sold in the United States 1.2 mpg to 23.6 mpg, an all-time high, according to the EPA's Trends Report issued today. The 1.2 mpg gain from 2011
Daimler to name ex-BMW CEO Pischetsrieder to supervisory board, report says
FRANKFURT (Reuters) -- Daimler will name Bernd Pischetsrieder, a former CEO of rival carmaker BMW, to its supervisory board as it seeks to add managers with knowledge of the automotive industry, Germany's Handelsblatt reported today. Pischetsrieder was BMW CEO from 1993 to 1999 and later headed
Reuss hands key North America reins to Batey
DETROIT -- Today's shake-up in General Motors' executive ranks gives responsibility for GM's most profitable region -- North America -- to Alan Batey, a hard-charging Briton who has been the face of GM to most of its U.S. dealers during the company's climb back from bankruptcy. Batey, 50, zoomed ...
Barra: Disciplined and determined to change GM's ways
DETROIT -- General Motors' next CEO is both a product of the company's bureaucratic, hidebound culture, and a crusader against it. Early in her tenure as GM's product chief, Mary Barra concluded that the company needed a new family of global, more fuel-efficient engines. And she figured GM would ...
GM to unload 7% stake in French automaker PSA Peugeot
General Motors said today that it is selling its entire stake in PSA Peugeot Citroen while scaling back efforts to jointly develop vehicles with the French automaker. GM said it will sell its 7 percent stake, or 24.8 million shares, through a private placement to institutional investors. GM
GM gives PSA backing for Dongfeng deal
PARIS -- PSA/Peugeot-Citroen has won General Motors' backing for a tie-up with China's Dongfeng Motor Group, the French automaker said today, adding that GM and PSA have lowered the savings goals for their scaled-down European alliance. As part of changes to the partnership, GM, which owns 7
Mercedes warns dealers of tight CLA supplies
DETROIT (Bloomberg) -- Mercedes-Benz told its U.S. dealers they should expect fewer CLAs in the first half of 2014 after the new $29,900 coupe helped widen the automaker's luxury-sales lead this year over rival BMW. The Daimler AG unit in a Dec. 9 letter to dealers said it anticipates "tight
Ford plans to add thousands of jobs, 3 plants and 23 vehicles
DETROIT -- A confident Ford Motor Co. said today that it plans to add 5,000 U.S. jobs in 2014, open two plants in Asia Pacific and one in South America, and launch 23 vehicles globally. "Next year, we are embarking on our most ambitious global launch year ever to meet customer demand for our
Westlake's dealership, prime-risk push pays off
Editor's note: An earlier version of this story should have said Westlake Financial Services added about 5,000 stores in the past two years, bringing its total to about 18,000 dealerships nationwide. Subprime specialist Westlake Financial Services' continuing campaign to add dealerships and boost
BMW said to mull first engine plant in U.S. or Mexico
FRANKFURT (Bloomberg) -- BMW Group is considering building engines in the United States or Mexico for the first time and expanding vehicle production in the region to capitalize on growing demand, three people familiar with the matter said. BMW could potentially decide on the project in 2014, ...
Next GM president Ammann aims to prove he is not just a 'bean counter'
DETROIT (Reuters) -- Dan Ammann, the incoming president of General Motors, has gone to great lengths to prove that while he is the U.S. automaker's chief financial officer, he is not just a "bean counter." Named to his new position on Tuesday, Ammann will fill what many analysts and investors saw
Regulation stays on FandI forefront for 2014
Auto finance regulation will stay on the front burner in 2014, with conclusions likely from investigations that began in 2013, according to attorneys who specialize in the area. Several auto lenders disclosed in 2013 that the Consumer Financial Protection Bureau had asked them for information ...
Infiniti Q50 offers auto first: steer-by-wire
With the Q50, Infiniti is counting on a world-first technology for a serial production car andndash; steer-by-wire andndash; and the addition of its first diesel powertrain to lure European premium-car buyers from the dominant German brands. The Q50 will offer a 170hp 2.2-liter four-cylinder diesel
Promotions of Barra, Reuss, Batey receive dealers' praise
General Motors dealers responded positively today to news that Mary Barra will be the automaker's next CEO. They also praised the promotions of Mark Reuss to head of product development and Alan Batey to lead the automaker's North American operations. "They're just three outstanding executives for
GM to sell PSA stake
General Motors said today that it is selling its entire stake in PSA/Peugeot-Citroen while scaling back efforts to jointly develop vehicles with the French automaker. GM said it will sell its 7 percent stake, or 24.8 million shares, through a private placement to institutional investors. GM
Strickland stepping down as head of NHTSA
WASHINGTON -- David Strickland, the administrator of the National Highway Traffic Safety Administration, is leaving the agency. Strickland, 45, has been the United States' top auto safety regulator since early 2010. He was a major player in the federal investigation into unintended acceleration in
Federal-Mogul names new CFO
DETROIT -- Federal-Mogul Corp., the diversified parts supplier controlled by longtime Wall Street investor Carl Icahn, said it hired veteran finance executive Rajesh Shah to senior vice president and CFO. Shah, 62, replaces Alan Haughie, who resigned from the position in August. Haughie later
In Japan, Honda pegs wage hikes to profit despite government appeals
TOKYO (Bloomberg) -- Honda Motor Co. Executive Vice President Tetsuo Iwamura said the Japanese automaker will set pay based on reaching profitability targets, rather than government directives on how fast to increase compensation. Japanese Prime Minister Shinzo Abe has called four meetings since
Hyundai preps Super Bowl pitches for Genesis, Elantra
(Bloomberg) -- Hyundai Motor Co., which used Super Bowl commercials in 2009 and 2010 to tout a restyled U.S. lineup, will make a seventh straight appearance on the game broadcast that draws more than 100 million viewers. The company will show two 30-second advertisements during the Feb. 2 game, in