CNBC's Phil LeBeau reports General Motors has hired a new executive to help its struggling Cadillac unit.» Read More
DETROIT, July 11- Incoming Cadillac President Johan de Nysschen- the brand's third boss in two years- faces a daunting task that his predecessors failed to complete: How to reposition General Motors Co's 112- year-old premium brand as a true competitor to BMW and Mercedes-Benz.
FRANKFURT/ BERLIN, July 11- German car parts maker ZF Friedrichshafen's takeover offer for rival TRW looks unlikely to draw rival bids for the U.S. company but could trigger further deals down the line, bankers and analysts said on Friday.
BRUSSELS/ MOSCOW- The European Union seeks to reassure Russia that a free-trade pact with Ukraine is not aimed at hurting Moscow, but rejects calls to postpone implementation, offering more talks instead.
Ford Motor Co. rose$. 16 or. 9 percent, to $17.46. General Motors Co. rose$. 12 or. 3 percent, to $37.87. Honda Motor Co. fell$. 06 or. 2 percent, to $34.93.
General Motors Co. has named an Infiniti executive to head its Cadillac division, which has struggled with sagging U.S. sales this year while competing luxury brands have advanced. Before that, he was chief executive of Volkswagen's Audi USA and president of Audi Japan.
TOKYO/ DETROIT, July 11- General Motors Co said on Friday it has hired Johan de Nysschen, chief of Nissan Motor Co's Infiniti premium brand, to run its Cadillac division. De Nysschen, 54, will report to GM President Dan Ammann, who cited the executive's experience with Volkswagen's Audi luxury brand.
Ford Motor Co. rose$. 06 or. 3 percent, to $17.36. General Motors Co. fell$. 13 or. 3 percent, to $37.63. Honda Motor Co. fell$. 13 or. 4 percent, to $34.86.
July 11- Chrysler Group LLC said it would recall almost 900,000 sport utility vehicles to fix the wiring for vanity mirror lights in sun visors, to prevent short circuits. About 651,000 of the 895,000 vehicles being recalled are in the United States.
TOKYO/ DETROIT, July 11- The chief of Nissan Motor Co's Infiniti premium brand, Johan de Nysschen, is leaving two years after he joined the Japanese carmaker, a Nissan spokeswoman said on Friday. General Motors Co has hired de Nysschen, 54, to run its luxury Cadillac brand, a source familiar with the plans who asked not to be identified said on Friday.
July 10- Germany's ZF Friedrichshafen said it was in early-stage buyout talks with U.S. auto parts supplier TRW Automotive Holdings Corp.. The companies did not disclose any financial details of the deal, but a Bloomberg report said ZF valued TRW at $11 billion to $12 billion.
Ford Motor Co. fell$. 11 or. 6 percent, to $17.33. General Motors Co. fell$. 21 or. 6 percent, to $37.76. Honda Motor Co. fell$. 51 or 1.4 percent, to $34.90.
Bloomberg, citing people familiar with the matter, reported earlier that TRW was in early-stage sale talks with German auto parts supplier ZF Friedrichshafen AG. ZF Friedrichshafen values TRW at $11 billion to $12 billion, although no specific price has been discussed, the Bloomberg report said.
July 10- U.S. auto parts supplier TRW Automotive Holdings Corp is in early-stage sale talks with Germany's ZF Friedrichshafen AG, Bloomberg reported, citing people familiar with the matter. ZF Friedrichshafen values TRW at about $11 billion to $12 billion, although no specific price has been discussed, a person familiar with the matter told Bloomberg.
Ford Motor Co. fell$. 12 or. 7 percent, to $17.31. General Motors Co. fell$. 33 or. 9 percent, to $37.64. Honda Motor Co. fell$. 60 or 1.7 percent, to $34.81.
DETROIT— General Motors is recalling 28,789 Saab convertibles because the driver's seat belt retractor can break. The recall involves vehicles from the 2004-2011 model years. GM owned Saab at the time many of the vehicles were made.
HONG KONG— Car sales in China cooled in June, with domestic brands falling further behind their foreign rivals in the world's biggest auto market, an industry group reported Wednesday. Auto sales growth in China has been steadily easing since 2009, when it peaked at more than 40 percent.
WASHINGTON, July 8- The head of Delphi Automotive Plc, maker of ignition switches linked to at least 16 fatal car crashes, is expected to face intensive questioning next week from a U.S. Senate panel investigating General Motors Co' handling of the issue.
Bay Area preps for showdown. WASHINGTON— If two of the most progressive U.S. cities don't pass a tax on sugary drinks, will the idea finally fizzle out?
Stocks fall for a second day; Nasdaq slumps US consumer borrowing rises at slower pace in May Crumbs shows dangers of focusing on single product US companies post most jobs in 7 years in May Survey finds math, science grads earn top dollar Car-hailing service Uber takes on taxis with sale Delphi CEO called by Senate panel probing GM AbbVie raises its bid for Shire by about 11 pct Soda tax's last stand?
WASHINGTON— The Senate panel investigating General Motors' ignition switch recall is calling on the CEO of the company that made the switches to testify at an upcoming hearing. Senators also want to hear from GM CEO Mary Barra, investigator Anton Valukas and compensation expert Kenneth Feinberg.