AUTO

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Auto investors look beyond Q3 scrapping boost

As a boost from state-sponsored schemes to help consumers replace old vehicles with newer ones tapers off, investors will be looking at the auto sector's longer-term prospects when European carmakers and suppliers post third-quarter results in the coming weeks.

GM CFO search complicated by US pay rules

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General Motors Co's [GM.UL] bid to find an outsider to replace its chief financial officer is being complicated by pay restrictions imposed on companies that got big U.S. government bailouts, The Wall Street Journal said on Saturday.

Opel Trust says no need to reopen Opel sale

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The German trust set up to oversee Opel said it saw no reason to reopen the carmaker's sale despite EU concerns that Germany's promises of state aid had skewed the bidding process.
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Electric cars don't deserve halo yet: study

Electric cars will not be dramatically cleaner than autos powered by fossil fuels until they rely less on electricity produced from conventional coal-fired power plants, scientists said on Monday.
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Key GM engine plant to be running by late 2010

General Motors Co GM.UL said on Tuesday it would have a Flint, Michigan, plant retooled to produce engines for its upcoming Cruze small car and its Volt electric vehicle by late 2010.
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UK union OK brings Opel deal closer

Agreement between Magna and a UK labour union on Tuesday brought closer a final deal for General Motors [GM.UL] to sell a majority stake in its European carmaking arm Opel to a Canadian-Russian consortium.
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EU's big 3 van makers put brakes on CO2 curbs

France, Italy and Germany have written to the European Union's executive asking for a delay or softening to planned curbs on carbon dioxide emissions from new vans, EU diplomats say.
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Ford switch recall expanded by 4.5 million vehicles

Ford Motor Co is expanding its largest ever recall -- involving faulty cruise control deactivation switches that have caused fires -- by 4.5 million vehicles, regulators and company officials said on Tuesday.
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Ford posts record China vehicle sales

Ford Motor Co said its China vehicle sales in the third quarter jumped 79 percent from a year earlier as Beijing's stimulus policies bolstered auto demand.
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GM aims to grow faster than China market in 2010

General Motors Co GM.UL aims to grow faster than China's auto market in 2010, its China chief said on Wednesday, after outperforming the country's overall market in the first three quarters.
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Fiat West Europe Sept sales up 14.8 pct

Italy's Fiat (FIA.MI) car sales in Western Europe in September will increase 14.8 percent from the same month last year, to 106,100 units, the director of research group IHS Global Insight, Pierluigi Bellini, said on Monday.
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Dollar Thrifty cuts Chrysler purchases, costs

Dollar Thrifty Automotive Group Inc (DTG.N) said on Monday it would slash its 2010 car rental purchases from Chrysler and that its average fleet costs had stabilized at levels it hoped to maintain next year.
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India Sept car sales rise 21 pct y/y

Car sales in India rose an annual 21 percent in September for their eighth straight rise, with industry officials expecting continued robust growth as the economy improves and consumer confidence grows.
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China auto market likely to slow after record 2009

Chinese car sales soared to a record in recent months on government incentives, but the same money tap that turbocharged sales could easily be turned off in 2010 if Beijing frets about an overheating economy.
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GM CEO says possible to sign Opel deal this week

General Motors Co GM.UL may finalize a deal this week to sell a majority stake in its European carmaking arm Opel to a Canadian-Russian consortium, its chief executive said on Tuesday, as the firm sheds unwanted brands.
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Egyptian GB Auto eyeing bonds to fund expansion

GB Auto (AUTO.CA) is considering issuing five-year bonds worth one billion Egyptian pounds ($183 million) to fund regional expansion and new service centres in Egypt, the company said on Monday.
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FDP sees risk Germany shoulders full Opel burden

Germany could end up shouldering the entire burden of aid for Opel because Britain and Spain remain reluctant to support the planned sale of the carmaker to Canada's Magna, a Free Democrat (FDP) politician said.
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Kenosha, Wisconsin in auto history

Kenosha, Wisconsin on the shores of Lake Michigan has a long history in automotive history that will die if a Chrysler engine plant is shut as planned next year.
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Volkswagen Jan-Sept China-HK car sales up 37 pct

Volkswagen AG (VOWG.DE) said on Monday it expected its sales in mainland China and Hong Kong to grow more than 30 percent this year, after rising 37 percent in the first nine months thanks to government stimulus measures.
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Germany seeks to patch up divisions over Opel deal

Germany's Economy Minister sought to shore up support for his government's rescue plans for Opel amid signs of growing opposition at home and abroad to the Berlin-brokered deal with Canadian automotive firm Magna (MGa.TO).
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Chevrolet to take 70 pct of GM sales: exec

General Motors Co's flagship Chevrolet brand expects to boost sales driven by new launches such as the Cruze small car and may represent 70 percent of the automaker's North American sales, the brand's chief said on Friday.
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Autoworkers say high Canada dollar hurting exports

Canada's largest public sector union said on Friday that the strong Canadian dollar is hurting manufacturers and called on the government to take action to help pull the currency closer to its historic range.
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GM Jan-Sept China vehicle sales up

General Motors Co GM.UL said on Friday that its China vehicle sales in the first nine months of this year jumped 55.6 percent from a year earlier, boosted by Beijing's stimulus policies and boding well for record sales for the full year.
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Ford and UAW nearing agreement on contract changes

Ford Motor Co (F.N) is getting close to a deal revising its contract with the United Auto Workers, according to a person briefed on six-week-old talks in which the automaker has aimed to gain concessions the union has already granted to GM and Chrysler.

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