The fiscal crisis in Michigan is setting up as a gigantic clash between bondholders and city retirees, the NYT reports.» Read More
The industry is expected to report on Feb. 1 an annual sales rate in January of 15.3 million vehicles, according to analysts polled by Thomson Reuters. J.D. Power and LMC Automotive, in a joint press release, said they expect U.S. retail sales in January to reach the highest rate in five years.
WOLFSBURG, Germany, Jan 25- Volkswagen may build its first low-cost car in China, a company executive said, as the German group ponders a move into no-frills vehicles to compete with Renault's Dacia and Nissan's Datsun.
But tough decisions on where to build different models are still to come for the joint car programmes, GM Vice-Chairman Steve Girsky and Peugeot Chief Executive Philippe Varin acknowledged at a news conference in Brussels on Thursday.
DETROIT, Jan 23- Ford Motor Co resumed production this week at its plant in Genk, Belgium, after the U.S. automaker and factory workers agreed to end a blockade that has halted work at the plant since October.
DETROIT, Jan 23- General Motors Co's North American president, Mark Reuss, was considered for the top job at the U.S. automaker in 2010 before his lack of seasoning led the board to the current chief executive, Dan Akerson, according to an excerpt from a forthcoming book by GM's former CEO, Ed Whitacre.
FRANKFURT/ BERLIN, Jan 22- General Motors said on Tuesday it may close a German factory at its Opel subsidiary earlier than proposed adding restructuring talks with unions must be wrapped up by February, as the U.S. carmaker seeks deep cuts to save its ailing brand. "I have asked the Opel management and labour to reach a solution in February.
BIRMINGHAM, Mich, Jan 22- General Motors Co is counting on the new Encore small crossover vehicle to bring more new customers to its premium Buick brand. But LMC Automotive senior analyst Joe Langley says it has a tough road ahead.
WASHINGTON, Jan 21- A confident President Barack Obama kicked off his second term on Monday with an impassioned call for a more inclusive America that rejects partisan rancor and embraces immigration reform, gay rights and the fight against climate change.
DETROIT, Jan 18- An Alfa Romeo 4 C sports car will be introduced in the U.S. market late this year, the chief executive of Fiat SpA and Chrysler Group LLC said on Friday, adding that further details would come in the next two to three months.
DETROIT, Jan 18- The Alfa Romeo brand will re-enter the U.S. market late this year with its 4 C sports car, the chief executive of both Fiat SpA and Chrysler Group LLC said on Friday. Increasing Alfa's sales is a cornerstone of Sergio Marchionne's plan to cut losses at Fiat in Europe by 2015..
Jan 18- Johnson Controls Inc forecast a smaller-than-expected profit for the current quarter due to lower auto production in Europe, sending the company's shares down more than 3 percent. Johnson Controls' stock was down 3.3 percent to $30.91 on the New York Stock Exchange.
DETROIT, Jan 18- Honda Motor Co said it is recalling 777,000 late-model Pilot and Odyssey vehicles in the United States and Canada due to a problem with the deployment of driver's side airbags, American Honda said on Friday. No crashes or injuries have been reported in relation to the issue, Honda said.
DETROIT, Jan 18- Honda Motor Co said it is recalling 748,000 late-model Pilot and Odyssey vehicles in the United States due to a problem with the deployment of driver's side airbags, American Honda said on Friday. No crashed or injuries have been reported in relation to the issue, Honda said. Another 29,000 of the same vehicles were recalled in Canada.
WASHINGTON, Jan 16- Lithium-ion batteries similar to those that prompted the Federal Aviation Administration to ground Boeing Co's new 787 airliner on Wednesday are also used on satellites and the U.S. military's new F-35 Joint Strike Fighter.
DETROIT, Jan 16- General Motors Co will invest $1.5 billion in its North American plants this year, a senior executive said on Wednesday, adding the automaker's next-generation Chevrolet Volt plug-in hybrid could cost thousands of dollars less per car to build.
DETROIT, Jan 16- Billionaire investor Wilbur Ross wants International Automotive Components, the auto supplier he controls, to go public to get access to cheaper capital, but he added he was in no rush for an initial public offering.
DETROIT, Jan 16- General Motors Co will invest $1.5 billion in its North American plants this year, a senior executive said on Wednesday. His comments were scheduled to be made on Wednesday night at the Automotive News World Congress in downtown Detroit.
*VW to build new midsize model in Tennessee in early 2015. *Others range from compact Honda to high-performance Audi. DETROIT, Jan 16- Volkswagen AG's CrossBlue concept, which previews a new midsize seven-passenger crossover vehicle the German automaker plans to build in Tennessee in early 2015, is not the sexiest model on the floor of the Detroit auto show.
*Banks, traders have bought warehouse firms in last 3 years. *Newcomers reap rental profits as queues for metal grow. LONDON/ NEW YORK, Jan 16- Old-style warehouse firms are coming to accept that big traders and banks, muscling in on storage of metals like aluminium, may have changed it forever into a financial business from a service to manufacturers.
DETROIT, Jan 16- General Motors Co and Facebook Inc are discussing the return of the U.S. automaker as a paid advertiser about eight months after GM said it would stop running ads on the social networking website, a top GM executive said.