AUTO

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Ghosn, Immelt see future for electric cars

A world where electric cars running on clean power is getting closer, corporate leaders said on Thursday, the day after an electric car battery maker raised much more than expected in an initial public offering.

Ford cements China ties, sees return to profit

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Ford Motor Co (F.N) said it expects to return to the black in 2011, as it expanded ties with the fast-growing and lucrative China market with plans to build a new $490 million plant there.
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GM India partnering India's Reva for electric car

General Motors Co's [GM.UL] Indian unit is partnering local firm Reva Electric Car Co to develop electric vehicles for the Indian market, and hopes to start selling a battery-operated small car within a year.
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Carmakers favor US ban on texting while driving

Automakers backed calls to ban drivers on U.S. roads from text messaging with cell phones and other hand-held devices, an issue gaining attention from the Obama administration and Congress.
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VW sees flat global car market in 2010

Volkswagen (VOWG.DE) expects global car markets to stagnate next year, a top executive said on Wednesday, calling on staff to help the world's third-largest automaker catch the sector leaders.
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Hummer headquarters to be in Michigan after sale

Hummer plans to invest $9.4 million over five years and take advantage of tax credits to set up a Michigan headquarters after China's Tengzhong acquires the brand from General Motors Co, a Hummer spokesman said on Tuesday.
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CarMax results get clunkers' boost; shares jump

CarMax Inc (KMX.N), the largest U.S. retailer of used cars, posted strong quarterly results as the company received an unexpected boost from the cash-for-clunkers program and its finance unit recorded a one-time gain.
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Magna firewalls will ease customer worries -exec

Magna International Inc (MGa.TO) has not lost any contracts because of its investment in Opel, a senior company executive said on Tuesday, after outlining some of the ways the Canadian auto parts supplier plans to keep the operations separate.
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GM restores 3,000 jobs, prepares to raise output

General Motors Co said on Tuesday it planned to restore about 3,000 jobs at U.S. assembly plants and related facilities and is getting set to raise North American production by up to 45 percent next year.
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AutoNation sees US recovery, to go 'on offense'

AutoNation Inc.(AN.N), the top U.S. auto dealership chain, is ready to go on offense by acquiring new stores and buying more vehicles as it bets that the battered U.S. auto market is headed for a long and steady recovery, the company's chief executive said.
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Goldman investment boosts China Geely's global hopes

Goldman Sachs' (GS.N) $334 million investment in Geely Automobile Holdings (0175.HK) will boost the Chinese automaker's global ambitions, including a potential bid by its parent for Ford's (F.N) Volvo brand.
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AutoZone quarterly earnings fall 3.1 percent

AutoZone Inc (AZO.N), the largest U.S. auto-parts retail chain, posted quarterly results on Wednesday roughly in-line with analysts' expectations as same-store sales growth slowed from the prior quarter.
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Ford launches small car in India; sees US mkt upturn

Ford Motor Co (F.N) will start production of a small car in India early next year, and its chief executive said the U.S. market had was showing signs of recovery and he expected industry sales to rise in the next two years.
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CarMax posts higher Q2 profit

CarMax Inc (KMX.N), the largest retailer of used cars in the United States, posted a higher quarterly profit, helped by improving customer traffic trends.
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Ottawa gives Linamar C$54.8 mln funding boost

Canadian Prime Minister Stephen Harper announced C$54.8 million ($50.7 million) in aid to autoparts maker Linamar Corp (LNR.TO) on Monday to help it develop green and fuel-efficient automotive powertrains.
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Spain Opel workers protest Magna: media

Thousands of people marched through the streets of Zaragoza north east Spain on Saturday to protest Canada's Magna's (MGa.TO) acquisition of 55 percent of General Motors' Opel, Spanish media reported.
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Electric carmaker Tesla, former CEO settle lawsuit

Electric car manufacturer Tesla Motors and a former executive have settled a legal dispute that stemmed from the company's early struggles to launch a battery-powered sports car, the company said on Monday.
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Magna CEO says aims to appease VW on Opel deal

Canadian auto supplier Magna International (MGa.TO) said it plans to hold talks to appease Volkswagen (VOWG.DE), which has threatened to pull business from Magna if it goes through with an investment in Opel.
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Daimler keeps Mercedes-Benz Cars margin target -CEO

Daimler's (DAIGn.DE) chief executive is sticking to the company's long-term EBIT profit margin target of 10 percent for its Mercedes-Benz Cars division but is unclear when the company will reach it, he was quoted as saying in a newspaper interview on Sunday.
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VW's Audi to reach China sales target early

Volkswagen's (VOWG.DE) premium unit Audi (NSUG.DE) expects to reach its unit sales target for China two years earlier than previously planned, Audi's head of sales told industry publication Automobilwoche.
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Porsche able to sell 150,000 cars per year-CEO

The head of Porsche's (PSHG_p.DE) core sports car business said the company could sell 150,000 cars a year in the mid to long-term but new models would be needed to achieve this goal.
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VW to take stake in Suzuki this year: report

Vokswagen (VOWG.DE), Europe's largest carmaker, is expected to take a stake in Japan's Suzuki Motor by the end of 2009, German industry publication Automobilwoche report, citing an unnamed Suzuki executive.
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Sberbank-Opel deal meaningless without tech transfer

Russia's participation in the Opel deal may be a waste of time if Western technologies are not transferred to the country, German Gref, cheif executive of deal participant Sberbank (SBER03.MM) said on Saturday.
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Russia's AvtoVAZ eyes new venture with Renault

Struggling Russian carmaker Avtovaz (AVAZ.MM) said on Friday it wanted to strengthen its partnership with shareholder Renault (RENA.PA), a day after a top Russian banker suggested a tie-up with Opel.
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Opel labor to start restructuring talks next week

First talks between European unions and delegates from General Motors and Magna (MGa.TO) begin next week over plans to cut 10,500 jobs at Opel save labor costs in the hundreds of millions of euros.

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