AUTO

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SEC says Daimler made $56 million in bribe payments

Car and truck manufacturer Daimler AG allegedly earned $1.9 billion in revenue and at least $91.4 million in illegal profits from transactions tainted by bribes, according to the U.S. Securities and Exchange Commission.

Spyker CEO cuts stake to avoid buyout rules

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The chief executive and largest shareholder of Dutch automaker Spyker Cars has reduced his voting interest to avoid making a buyout offer for the rest of the shares, the company said on Wednesday.

Toyota to realign Japan manufacturing operations

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Toyota Motor Corp said on Thursday it is studying plans to reorganize its domestic manufacturing operations to consolidate production of similar vehicles regardless of brands across its group companies.
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GM to offer test drives, including rivals' cars

General Motors Co plans to lease retail space in four U.S. cities to offer shoppers the chance to test drive not only three Chevrolet vehicles but those of its largest rivals, a top marketing executive for the U.S. automaker said on Wednesday.
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Daimler renews commitment to EADS pool

German carmaker Daimler has renewed its commitment to a EADS shareholder pool, leaving a politically sensitive Franco-German balance of power at the European aerospace group intact.
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U.S. says driver error possible in NY Prius crash

U.S. safety officials believe driver error may be behind the crash in New York of a Toyota Motor Corp Prius that has been investigated as a possible case of unintended acceleration, federal investigators said on Thursday.
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Kia Motors plans 100 mln euro Slovak plant

South Korea's No. 2 carmaker Kia Motors said on Thursday it will invest 100 million euros ($137 million) building a new engine plant at its assembly site in Slovakia.
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UK to give loan guarantee for Ford

Britain announced hundreds of millions of pounds in aid to Ford Motor and Nissan Motor for the development of environmentally friendly technologies as it seeks to become a world leader in ultra low-carbon vehicles.
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California police report supports Prius driver

A California Highway Patrol report released on Wednesday in a sensational runaway Toyota Prius incident appears to support the version of events given by the driver, which the automaker has called into question.
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Canadian MPs accuse Toyota of sitting on info

Canadian lawmakers accused Toyota Motor Corp executives on Tuesday of waiting too long to inform the government of problems with faulty accelerators in some of the company's vehicles.
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BMW sees 2010 results improving across business

BMW, the world's biggest premium carmaker, forecast a hefty rise in 2010 pretax profit with better results across its entire business, boosted by new car models like its popular BMW 5 Series.
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Honda gets 8,000 orders for CR-Z sports hybrid

Honda Motor Co said on Tuesday it had received about 8,000 orders for the CR-Z sporty hybrid car in Japan after less than three weeks on the market, or eight times the monthly sales target of 1,000 units.
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Toyota says no evidence runaway Prius happened

Toyota Motor Corp said on Monday it had found no evidence to support the driver's version of a widely publicized runaway Prius episode a week ago, suggesting that authorities examine whether the incident happened as reported to police.
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GM's Russia reorganization sparks fears at Opel

Opel workers demanded reassurances that its European brand will not be disadvantaged at the expense of sister brand Chevrolet, after Opel lost responsibility for the Russian region to an Asian arm of General Motors.
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Toyota discounts boost sales

Unprecedented discounts after a series of damaging recalls boosted Toyota Motor Corp's U.S. sales in early March, as U.S. regulators weighed new auto safety measures.
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Nissan launches first Thai-promoted eco-car

Nissan Motor launched its much-awaited, low-cost compact car on Friday, aiming to become a major force in the fast-growing segment with a global sales target of one million units a year by 2013.
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Timeline: Global recalls in the auto industry

Daihatsu Motor Co, a unit of Toyota Motor Corp, said on Thursday it would recall more than 274,000 Hijet and Atrai wagon models in Japan to fix a loose knuckle joint in the front wheels.
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U.S. bailout watchdog criticizes Treasury over GMAC

The U.S. Treasury's decision against a bankruptcy restructuring for GMAC may have increased taxpayer bailout costs for the auto finance company and made it less viable, an oversight group said on Thursday.
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GM CEO says U.S. will make money on bailout

General Motors Co will pay back roughly $8 billion in debt to the United States and Canada before June and could go public in a way that would allow taxpayers to make a profit on the bailout, Chief Executive Ed Whitacre said on Wednesday.
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Chrysler names Fiat brand chief for N.America

Chrysler hired a Volkswagen executive to lead the reintroduction of its Fiat brand in North America -- a brand that represents the core of the automaker's efforts to bring out fuel-efficient small cars.
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Toyota, U.S. officials investigate runaway Prius

U.S. safety regulators and Toyota dispatched teams on Tuesday to inspect a Prius that sped out of control on a California freeway a day earlier, as the automaker struggled to reassure consumers shaken by its recall crisis.

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