May U.S. auto sales are expected to rebound from an April slowdown, easing concerns of another spring swoon, forecasters said. The light-vehicle seasonally adjusted annual selling rate for this month will be 15.2 million, both LMC Automotive/J.D. Power and Associates and TrueCar.com predicted ...

FRANKFURT (Bloomberg) -- Shares in Volkswagen, PSA/Peugeot-Citroen and Renault, Europe's three largest carmakers, all dropped 5 percent or more after preliminary data showed manufacturing in China is unexpectedly contracting. PSA declined as much as 7.5 percent, VW fell as much as 5.3 percent and

WILMINGTON, Delaware (Bloomberg) -- Ally Financial Inc., the auto lender majority-owned by the U.S. government, agreed to pay $2.1 billion to avoid lawsuits related to its bankrupt mortgage unit, Residential Capital LLC. Under the settlement, Ally will pay $1.95 billion in cash to the ResCap ...

Michael Stanton, a longtime lobbyist and a driving force for automakers in public policy, will retire as president and CEO of the Association of Global Automakers in early 2014. Stanton, 68, has represented automakers in Washington and state capitals across the country for more than 35 years, ...

Can the coattails of Fast and Furious 6 and its young, devoted male fans give a boost to Dodge Dart sales? Chrysler Group is counting on it. The Dart doesn't have a role in the action-thriller opening nationwide on Friday, but Dodge is betting a Fast and Furious -like commercial and other marketing

Gentex Corp., a maker of rearview mirrors and electronics parts, said its CFO and vice president of finance has left the company but will remain a consultant with the supplier. Steve Dykman, 47, had been vice president of finance since 2006 and CFO since 2007. He had been with Gentex for nearly 20

WASHINGTON (Bloomberg) -- Tesla Motors Inc. said it paid off the entire balance of its U.S. government loan given as part of a Department of Energy program to spur development of alternative energy vehicles. "In addition to payments made in 2012 and Q1 2013, today's wire of almost half a billion ...

STOCKHOLM (Reuters) -- A Swedish prosecutor wants to question former Saab Automobile Chairman Victor Muller as part of an inquiry into suspected tax offenses at the automaker, a Swedish newspaper reported. Earlier this week Jan-Ake Jonsson, Saab's former CEO, ex-Chief Financial Officer Karl-Gustav

(Bloomberg) -- Lamborghini's Egoista concept, unveiled earlier this month at the company's 50th anniversary celebration in Bologna, Italy, isn't planned for production, but it does have a purpose: countering critics who think the automaker has lost some of its design edginess. The one-seat ...

MILAN (Bloomberg) -- The Italian government plans to press Fiat CEO Sergio Marchionne over concerns he's shifting the carmaker and heavy truck manufacturer Fiat Industrial away from the country. Industry Minister Flavio Zanonato told newspaper Il Sole 24 Ore that he will meet with the CEO next week

DETROIT -- General Motors will price its new Chevrolet Spark electric vehicle at $27,495, including destination charges and before federal tax credits, placing it among the cheapest EVs on the market. GM said today that it kept the sticker price at less than $20,000 after a $7,500 federal tax ...

DETROIT -- Tom LaSorda, the former CEO of Chrysler Corp. and Fisker Automotive Inc. , has started a new limited partnership private venture capital fund for startup companies in health care, clean energy, transportation, information technology, software and applications. LaSorda, 58, who has named

FRANKFURT (Reuters) -- Daimler may sell four company-owned Mercedes-Benz dealerships in Germany to cut costs and help close a profitability gap with rivals BMW and Audi, which rely more on franchises run by private entrepreneurs to sell cars. Daimler could mount a bigger sell-off if those ...