AUTO

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Johnson Matthey see uncertain auto recovery

First-half pretax profit at Johnson Matthey fell by a fifth and the world's largest supplier of catalytic converters warned on Wednesday that prospects for a recovery in global auto sales were uncertain.

SAIC to make MG 6 in UK, upbeat on own-brand car

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SAIC Motor Corp aims to double the sales of its own-brand cars to 180,000 in 2010, its president said on Monday, as the top Chinese automaker seeks to tap the lucrative mid- to higher-end market currently dominated by foreign rivals.

Faurecia CEO: Plastal fits consolidation strategy

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The head of Faurecia SA said on Wednesday that bumper maker Plastal could be a good match for the French parts maker, adding that his company was looking to be a consolidating force in the auto parts industry.
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TIMELINE-Chinese automakers chase global profile

Chinese car maker Beijing Automotive Industry Holding Corp (BAIC) said on Wednesday it was reassessing the situation after a consortium it belonged to dropped a bid to buy General Motors' Saab unit.
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Toyota gets 14,000 pre-sale orders for SAI hybrid

Toyota Motor Corp said on Tuesday it had received about 14,000 orders for the new SAI hybrid sedan to go on sale in Japan on December 7, or roughly five times its monthly sales target of 3,000 units.
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Opel labor to see revamp plan on Wednesday

General Motors will present labor leaders at European arm Opel a reorganization plan on Wednesday that envisions cutting nearly a fifth of the workforce, GM's acting European head said.
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GM to present plan to fix Opel this week

General Motors will present a plan to European governments to save struggling carmaker Opel within days, a rescue set to cost 3.3 billion euros ($4.9 billion), those involved in talks said on Monday.
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AUTOSHOW-SAIC to make M6 in UK, upbeat on ownbrand car

SAIC Motor Corp aims to double the sales of its own-brand cars to 180,000 in 2010, its president said on Monday, as the top Chinese automaker seeks to tap the lucrative mid- to higher-end market currently dominated by foreign rivals.
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Toyota sees China 2010 sales growth slowing

Toyota Motor said it expects its China sales growth to slow next year, after strong gains in 2009 fueled by government incentives aimed at boosting the national auto sector during the global downturn.
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Opel workers to discuss restructuring plan on Weds

Union representatives hope the future of Opel's 50,000 workers in Europe will become clearer when they meet on Wednesday with General Motors' interim regional chief Nick Reilly to discuss restructuring plans.
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GM sees China sales growth slowing in 2010

General Motors expects its China sales growth to drop dramatically in 2010 as the carmaker nears the end of a year of government stimulus-fueled growth in the world's biggest car market, the head of the company's China operations said on Monday.
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Volkswagen to triple south China sales by 2018

China - Europe's biggest carmaker, Volkswagen plans to more than triple its sales in south China by 2018 as a main driver for its strategy to double sales to 2 million units in the country by that time, its China chief said on Sunday.
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Senators seek answers on auto dealer closures

Nearly two dozen members of the U.S. Senate sought answers on Friday from General Motors and Chrysler on efforts to resolve complaints from dealers who lost business with the car companies.
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Electric carmaker Tesla preparing IPO: sources

U.S. electric sports car maker Tesla Motors plans to go public soon, two sources familiar with the matter said, amid growing interest in green technology and battery-powered vehicles.
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America's Car-Mart Q2 profit beats estimates

Auto retailer and financer America's Car-Mart Inc posted better-than-expected quarterly results, helped by strong same store sales and an increase in its customer base. For the second quarter, the company reported net income of $6.3 million, or 53 cents a share, compared with $3.9 million, or 33 cents a share, a year ago.
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Volkswagen South Africa to double exports in '10

Europe's biggest carmaker, Volkswagen, will almost double exports from its South African plant in 2010 under a 27 billion rand ($3.59 billion) global contract for right-hand drive models of its new Polo.
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Russian auto giants strengthen ties

Heavily-indebted Russian carmaker AvtoVAZ appointed Sergei Kogonin, head of truckmaker Kamaz, to its board of directors, increasing the prospect for the creation of a state-controlled autos giant.
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Ford to invest $1.2 bln to grow in Brazil-governor

Ford Motor Co plans to invest 2 billion reais ($1.15 billion) in Brazil through 2015, most of it on a plant in the northeastern Bahia state, to expand production and benefit from expected growth in Latin America's largest economy, the state governor said on BandNews radio on Friday.
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SAfrica auto aid will boost growth, cut trade gap -govt

South Africa's existing automobile industry programme and its replacement scheme is expected to cut the trade deficit and contribute billions of dollars to gross domestic product by 2020, a government minister said on Friday.
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Volvo union meets Geely, no detail on financing

Union leaders at Ford Motor's Volvo car unit held their first talks with China's Zhejiang Geely Holding Group on Thursday but are still waiting to see Geely's financing plans for the Swedish carmaker.
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Daimler's Fuso sees 2009 vehicle sales halving

Mitsubishi Fuso, the Japanese unit of market leader Daimler Trucks, aims to weatherproof the company for smaller volumes in the future in order to steer clear of the losses it will book this year.
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Exide to supply Toyota Highlander batteries in US

Exide Technologies has landed a deal to sell 105,000 more batteries a year to Toyota Motor Corp, deepening its relationship with the world's top carmaker and boosting the battery company's shares.
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Norway electric carmaker to build in Indiana

Norwegian electric car maker Think Global is gearing up to launch its vehicles in the United States and has picked a site in Indiana for its U.S. manufacturing facility, a major investor in the company said on Tuesday.
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Volvo Oct truck shipments fall, but offer hope

World number two truckmaker Volvo said vehicle shipments tumbled in October from last year, but a rise over September deliveries offered hope the sector's headlong plunge in demand may have bottomed.
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Ford Fusion named Motor Trend 2010 car of year

Ford Motor Co's Fusion mid-size sedan was named Motor Trend magazine's 2010 car of the year on Tuesday, adding to the perception that changes to the No. 2 U.S. automaker's vehicle lineup are gaining traction.
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VW board set to approve Porsche contracts - sources

The supervisory board of Volkswagen is set to approve on Thursday contracts drafted for a merger with indebted parent Porsche SE and the partial acquisition of Porsche's sports car business, sources close to the matter told Reuters
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Strong autos to lift Oct U.S. retail sales

U.S. retail sales rebounded in October as vehicle purchases rose even without support from government incentives, a Reuters survey predicted, which could allay some fears over the strength of the economy's recovery.

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