TOKYO, May 24- Mitsubishi Motors Corp, the Japanese maker of Triton pickups, the Outlander Sport SUV and iMiEV electric car, wants shareholders to approve a capital reorganisation to clear more than $9 billion of accumulated losses, and pave the way for the resumption of dividends after a 15- year gap.» Read More
TOKYO, May 24- Mitsubishi Motors Corp, the Japanese maker of Triton pickups, the Outlander Sport SUV and iMiEV electric car, wants shareholders to approve a capital reorganisation to clear more than $9 billion of accumulated losses, and pave the way for the resumption of dividends after a 15- year gap.
Whether or not the industry ends May with the best monthly sales rate since January depends largely on whether or not dealers enjoy strong business Memorial Day Weekend.
The Indy 500 runs on Sunday, and then there is the Coca-Cola 600 at the Charlotte Motor Speedway, where Nascar driver Danica Patrick will be racing. Patrick discusses how she prepares for a long race.
DETROIT, May 23- U.S. auto sales in May are expected to rise 6 percent to 8 percent and the annual sales pace should rebound back above 15 million vehicles after a disappointing result in the prior month, two research reports said on Thursday.
DETROIT, May 23- Tom LaSorda, the former chief executive of Chrysler Group LLC and Fisker Automotive, is launching a venture capital fund with racing magnate Roger Penske to invest in technology startups. The fund, IncWell LP, will provide initial investments ranging from $50,000 and $250,000.
DETROIT, May 23- U.S. auto sales in May are expected to rise about 8 percent and the annual sales pace should rebound back above 15 million vehicles after a disappointing result in the prior month, two research reports said on Thursday.
TOKYO, May 23- Nissan Motor Co Ltd will recall about 841,000 vehicles worldwide including the Micra compact car, also known as the March, as a result of a steering wheel glitch, Japan's No.2 automaker said on Thursday.
DETROIT-- General Motors Co. says the Spark EV subcompact will be among the lowest-priced electric cars in the U.S. The electric Spark will have a starting price of $27,495 when it goes on sale next month in California and Oregon. Nissan also offers a $199- per-month lease for three years with $1,999 down.
DETROIT, May 23- The Chevrolet Spark all-electric subcompact car will cost U.S. buyers as much as 38 percent less than what it takes to buy its larger sibling, the hybrid Volt, General Motors Co said on Thursday.
*Ford to end Australia production in Oct 2016. Ford Australia will close its engine plant in Geelong and its vehicle assembly plant in Broadmeadows, both in Victoria state, with the loss of 1,200 jobs, Ford Australia Chief Executive Bob Graziano said on Thursday, the latest election-year blow to the struggling Labor government.
*Ford to end Australia production by 2016- reports. CANBERRA, May 23- Ford Motor Co is set to announce it is closing its two Australian auto plants and will cease production in the country by 2016 as it struggles with sliding sales, high costs and a strong Australian dollar, local media reported on Thursday.
May 22- General Motors Co is recalling worldwide more than 27,000 Cadillac crossover vehicles whose wheels could fall off due to potentially loose wheel nuts. GM said on Wednesday it knows of no crashes or injuries due to the issue and that no wheels have separated from the sport utility vehicles built on car-based platforms.
The company became the first automaker to repay money borrowed under the Advanced Technology Vehicle Manufacturing program.
Ford, General Motors and Fiat announced they will cut back on summer shutdowns at factories as they set production goals higher, with the "Fast Money" traders.
DETROIT, May 22- Electric carmaker Tesla Motors Inc on Wednesday said it has paid off its U.S. Department of Energy loan, using money raised last week in a stock and notes offering.
DETROIT, May 22- China's largest auto parts maker and a boutique car company led by former General Motors Co executive Bob Lutz have offered $20 million to buy "green" carmaker Fisker Automotive, people familiar with the matter said on Wednesday.
The man who once called global warming a "crock of you know what" now wants to buy an electric car company, reports CNBC's Phil LeBeau.
NASHVILLE, Tenn.-- Automotive supplier Van-Rob will expand its plant in Tennessee's Coffee County, adding 104 jobs. Company and state officials said Wednesday the company is spending $16.8 million to increase manufacturing in Manchester. Van-Rob, Inc. _ based in Aurora, Canada _ is a division of KIRCHHOFF Automotive.
DETROIT, May 22- Ford Motor Co is adding a week of production at most of its North American factories this year to build an additional 40,000 vehicles and help sustain its gains in U.S. market share. Ford's U.S. rivals, General Motors Co and Chrysler Group LLC, are also limiting downtime this year.
CNBC's Phil LeBeau reports that former GM chair Bob Lutz is teaming up with a Chinese firm to bid for Fisker Automotive, among other auto news.