Wolfgang Bernhard's ascendancy to a management board post at Daimler boosted shares in the German carmaker on Monday and fuelled talk he may be chief executive Dieter Zetsche's heir apparent.
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A union conglomeration representing Fiat labour has flatly rebuffed Italian government plans to consider alternatives other than car production for the threatened Sicilian plant of Termini Imerese.
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Automakers started the year in Australia on a positive note with a significant increase in the number of new vehicles sold during January.
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Swedish state guarantees have been approved by the European Commission (EC) as part of plans by the European Investment Bank (EIB) to lend Saab EUR400m (US$548m).
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Tenneco swung to a fourth-quarter profit on steep prior-year charges as the autoparts maker also benefited from cost cutting and reported higher sales for the first time in nearly two years.
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January auto sales in Vietnam surged 76% year on year to 6,961 units, accelerating from an annual rise of 59% in December, an industry report said on Friday.
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Egypt's biggest passenger car assembler, GB Auto, has established a US$80m joint venture to distribute Hyundai vehicles in Iraq.
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Subaru to unveil Impreza XV crossover at Geneva Motor Show
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Automobile output in Brazil jumped year on year in January, an indication that government-sponsored incentives helped propel domestic demand for new cars, the national automakers' association Anfavea said.
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First look at European-spec hybrid sports-car
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American Axle & Manufacturing (AAM) results in the fourth quarter of 2009 were net earnings of US$48.6m or $0.80 per share. This compares to a net loss of $112.1m, or $2.17 per share, in the fourth quarter of 2008.
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Seating specialist Lear Corporation reported fourth quarter net sales of US$2.7bn and pretax income of $1,194m, including a gain related to reorganisation items and fresh start accounting adjustments of $1,513m, a goodwill impairment charge of $319.0m and restructuring costs of $59.3m. Income before interest, other expense, income taxes, restructuring costs and other special items (core operating earnings) was $115.5m in the fourth quarter of 2009. This compared with net sales of $2.6bn, a pretax loss of $682.9m, including a goodwill impairment charge of $530.0m, and core operating earnings of $22.0m in the fourth quarter of 2008.
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Toyota Motor is set to file recalls over brake problems with its latest Prius hybrid in both the United States and Japan, in a move that will affect more than 270,000 vehicles, Japanese sources familiar with the matter said on Monday.
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Better Place, the US start up developing charging stations, expects to serve thousands of electric cars on Israeli roads by the second half of 2011, CEO Shai Agassi said.
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Vehicle sales in Russia were down almost 50% last year to 1.5 million according to JATO Dynamics.
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Russian automaker GAZ Group's attempt to restructure its debts has again been stalled by Alfa Bank, according to business daily Vedomosti, which cited sources involved in the talks.
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