AUTO

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Ford, GM object to Visteon's $80 million bonus plan

Ford Motor Co (F.N) and General Motors Co (GMGMQ.PK) have objected to a plan by bankrupt auto parts supplier Visteon Corp (VSTN.PK) to pay employees up to $80.1 million in bonuses, saying that they and major auto parts suppliers had eliminated performance incentives for 2009.

Hyundai raises 2009 China sales target by 13 pct

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Hyundai Motor Co (005380.KS), South Korea's top carmaker, on Tuesday said it has raised its 2009 target for sales in China for a second time because of stimulus measures by the Chinese government to boost demand and as the company plans to launch new models.

Stakes raised in German auto industry talks

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RHJ International (RHJI.BR) declared its interest in Opel on Monday and Qatar looked to be moving closer to a 7 billion euro bailout of Porsche (PSHG_p.DE), raising the stakes in the battles for control of both German carmakers.
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Auto insurer Progressive profit rises

Progressive Corp (PGR.N), one of the largest U.S. auto insurers, posted its first quarterly profit increase since 2006 on Friday as premiums and investment performance improved and it paid out a smaller percentage of revenue to cover claims.
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Ford focused on cash and economy: CFO

Ford Motor Co (F.N) is focused on cash management with the economy still a major concern rather than the competitive positions of its U.S. rivals who have gone through bankruptcy, Ford's chief financial officer said on Thursday.
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GM and eBay testing partnership in California

General Motors and its dealers will test a partnership with eBay Inc in California that allows customers to bid on new vehicles or buy them at a predetermined price online, the automaker said on Friday.
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With good assets sold,

A new General Motors emerged from bankruptcy protection on Friday -- far more quickly than most industry-watchers had expected -- as a leaner automaker pledging to win back American consumers and pay back taxpayers.
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U.S. jobless claims drop steeply, skewed by autos

The number of U.S. workers filing new claims for jobless benefits fell sharply last week but the data was distorted by an unusual pattern of layoffs in the automotive industry, which amplified the decline
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Hyundai Motor launches its first hybrid in South Korea

Hyundai Motor Co, South Korea's top carmaker, on Wednesday launched its first hybrid car in the domestic market to satisfy a growing appetite for fuel-saving vehicles and to improve the image of the company's technology.
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Federal-Mogul considering Delphi bid: sources

Federal-Mogul Corp (FDML.O) is readying a renewed bid for the assets of Delphi Corp (DPHIQ.PK) after breaking off talks with the bankrupt auto parts maker in late May, three people with knowledge of the situation said on Tuesday.
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Auto parts maker Lear Corp files for bankruptcy

U.S. auto parts maker Lear Corp (LEAR.PK) filed for Chapter 11 bankruptcy protection on Tuesday, a day after setting out plans to restructure its $3.6 billion debt burden under a proposed deal with creditors.
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Hybrids boost Toyota and Honda car sales

Toyota Motor Corp's Prius hybrid was Japan's best-selling car in June while Honda Motor Co's rival Insight ranked fourth, helping the two hybrid leaders dominate the list of top-selling models.
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Chinese visit brings Italian deals worth $2 bln

Chinese President Hu Jintao's visit to Italy generated over $2 billion worth of deals between the two countries on Monday, including a Fiat SpA (FIA.MI) joint venture to produce cars and engines in China.
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GM to get final $20 billion in funding this year

General Motors Corp has been given about a third of the bankruptcy financing promised by the U.S. Treasury and will get the remaining $20 billion over the remainder of the year, a senior U.S. official said on Monday.
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Brazil auto output rises for 2nd month in June

Automobile output in Brazil climbed in June for the second straight month as manufacturers stepped up production to meet growing consumer demand, the national automakers' association Anfavea said on Monday.
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Fate of GM in hands of bankruptcy judge

A federal bankruptcy judge will decide the immediate fate of General Motors Corp's effort to quickly sell its best assets to a group funded by the U.S. government, after a three-day court hearing concluded on Thursday.
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Steadier auto sales a bit of good news for aluminum

Budding signs of stability in the ailing U.S. automotive sector will kick-start a quicker demand recovery for aluminum, even as the industrial metal's supply base in U.S. warehouses will continue to swell from the industry's severe downturn.
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Finding nuggets of positivity amid Toyota's forgettable June sales

Picking through Toyota's suffering U.S. sales performance in June, observers find many well known brands which have suffered at the hands of a down economy but nuggets of positivity in the carmaker's lineup will reveal gains for its Lexus RX sports utility vehicle, Prius hybrid and RAV4, a small SUV.
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June auto sales show stability

Major automakers posted better U.S. auto sales for June than in recent months on Wednesday, led by Ford Motor Co as results pointed to signs of some stabilizing in the hard-hit industry.
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GM China sets Record Sales in China

General Motors said on Wednesday its China vehicles sales rose 38 percent in the first half of 2009 from a year earlier as China's stimulus policies boosted automobile demand.
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Chrysler, Honda join TALF; sale boosted to $8.1 billion

The fifth round under the Federal Reserve's TALF program grew to $8.1 billion on Tuesday and is largely being shaped by auto ABS issuers as two new deals join the queue of securities offered ahead of the July 7's subscription deadline.

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