General Motors' move to scrap the sale of its Opel unit and raised forecasts from Nissan Motor Co lifted confidence in the global auto industry's recovery on Wednesday.
The global meltdown and resulting implosion in vehicle sales over the past year have pressured everyone in the automotive sector, creating opportunities for some players while leaving others subject to bankruptcy, consolidation or concessions.
Automotive suppliers can look forward to a wave of consolidation as businesses hit hard by the crisis seek to restructure, boost economies of scale and gain access to new technologies, industry executives said at the Reuters Auto Summit.
Nearly five months after Chrysler Group LLC emerged from bankruptcy under the leadership of Italian automaker Fiat SpA, Rocco Massarelli faces almost certain ruin.
Fiat's Ferrari luxury car unit expects China to become one of its top five global markets in five years, by marketing to the growing ranks of affluent Chinese, a senior company official said on Tuesday.
U.S. auto sales are likely to remain flat in 2010, former General Motors Co director Jerry York said on Monday.
Germany's new car market grew by 24 percent year-on-year in October even after a scrappage scheme for old autos ran out of money in September, the VDIK foreign carmaker association said on Tuesday.
Fiat SpA's plans for Chrysler will scrap the U.S. automaker's long-held plans for its brands outside North America with the exception of Jeep, people with direct knowledge of the plan said.
Ford Motor Co surprised Wall Street with a quarterly profit on Monday and raised its 2011 outlook to solidly profitable, sending its shares up 5.7 percent in premarket trading.
As automakers, parts suppliers and car retailers ready business plans for next year and beyond, the experience of the industry's 2009 crash has made caution the new byword.
General Motors Co expects China's car market to grow by around 10 percent next year even without government incentives and maintain its position as the world's top car market for a long time, a senior executive said.
AutoNation Inc, the largest U.S. auto retailer, posted a quarterly profit thanks to cost-cutting and the government's Cash for Clunkers incentive program and said it would target dealership acquisitions as the market recovers.
A solar car made by students from Japan's Tokai University was on Wednesday named the winner of a 3,000 km (1,864 miles) race across the Australian outback which aimed to show that green cars can also be mean.
Goodyear Tire & Rubber Co posted a better-than-expected quarterly profit on Wednesday, helped by cost reductions and cheaper raw materials, and forecast global industry growth in 2010.
The bankrupt shell of carmaker General Motors Co is making its first major asset sale, selling a Delaware manufacturing plant to Fisker Automotive, which will make plug-in hybrid electric cars beginning in 2012.
Japan's Honda Motor Co exuded optimism while Germany's Daimler AG spread gloom about the outlook for car markets on Tuesday, highlighting the patchy nature of any post-crisis rebound.
Renault's falling sales in India and Russia and tension with its partners underline the risks of car sector tie-ups and suggest that the infusion of technology, rather than cash, is the solution.
Nissan Motor said on Monday its vehicle sales in China surged 63.8 percent to 75,209 in September, helped by its Teana and Sylphy sedans.
General Motors said Brazil's car market has a very good outlook and the automaker will reinvest profits from the country's unit locally, Chief Executive Fritz Henderson told newspaper O Estado de S. Paulo in an interview on Monday.
French tire manufacturer Michelin SA said it still aims to generate positive free cash flow in the second half as third-quarter sales fell 10.9 percent, narrowly beating forecasts.
Tata Motors Ltd, India's largest vehicle maker, beat forecasts as profits more-than- doubled on improved margins due to lower input prices and a recovery in demand as the financial crisis loosened its grip.
Southeast Asia is gearing up to become a global hub for the production and sale of environmentally friendly cars, a Thai deputy cabinet minister said on Thursday.
Independent German contract carmaker and convertible roof-top specialist Karmann is nearing liquidation as new orders remain out of sight and customers remain unwilling to pay their bills.
General Motors will decide in early November whether to proceed with a deal to sell its European arm Opel to a group led by Canada's Magna or to seize a new opportunity to keep the unit after seven months of grinding negotiations.
Institutions sold a net 90.8 billion won worth of stocks and foreign investors bought a net 213.1 billion won worth.
October U.S. auto sales should be down about 6 percent from a year ago, marking the first single-digit monthly decline since May 2008, influential industry forecasting firm J.D. Power and Associates predicted on Friday.
Higher passenger car sales in the quarter ended September is likely to boost Maruti Suzuki India (MRTI.BO) earnings, while India's Tata Motors (TAMO.BO) will benefit from a recovery in truck sales, say analysts.
U.S. auto sales are projected to rise nearly one-fifth to 11.8 million units in 2010, influential industry tracking firm CSM Worldwide said on Wednesday, citing signs that the worst of the economic downturn had passed.
Geely Holding's attempt to buy Ford Motor Co's (F.N) Volvo car unit is in danger of stalling over disagreements about intellectual property rights, a source close to the talks said on Wednesday.
General Motors Co GM.UL remains committed to closing a deal to sell its European Opel unit to a group led by Magna International (MGa.TO), the automaker's chief executive told CNBC on Wednesday.
