Auto News 5

Hella has acquired all the shares of its previous Relay Joint Venture Hella Hongfa (Xiamen) Automotive Electronics Co. Ltd. (HAE) in China. Full story...

Sichuan Auto Industry Group has said that it has no interest in buying GM's up-for-sale Hummer unit. Full story...

Norma is to place nearly 600 employees on part time work, and is also filing a request with the labour inspectorate to end the contracts of 52 workers. Full story...

Suzuki plans to decide in late March whether it will delay the launch of its future car assembly plant in Russia by one year. Full story...

General Motors and the United Auto Workers union were reported to have made progress in concession talks while bondholders were offered proposals to slash GM's debt on Monday, a day ahead of the automaker's submission of a new survival plan to the US government. Full story...

Chinese carmaker BYD says it sold 24,107 vehicles in January, up 80% on last year. Full story...

Hyundai Motor has unveiled its new Equus luxury sedan in Korea. Full story...

Shanghai Volkswagen (SVW) is the latest Chinese maker to significantly reduce its car prices in order to win business amid slower demand. Full story...

Proton is planning a monthly production of 3,000-3,500 units of its new Ezora MPV, starting from March, according to a report carried by the Bernama news agency. Full story...

Isuzu is planning an assembly plant in Cuautitlan, Mexico, according to the Nikkei newspaper. Full story...

FAW Toyota, a joint venture between Toyota and FAW Group, has announced a goal of selling 380,000 units in 2009, a total that would be 8% up on 2008. Full story...

India's Motherson Sumi Systems plans to complete the purchase of troubled rearview mirror maker Visiocorp by the end of the month. Formerly called Schefenacker, Visiocorp is a key supplier to Ford Motor, General Motors, Volkswagen and Daimler. Full story...

Opel and Vauxhall will collapse within two years if they remain part of General Motors, workers' leaders have warned. Union leaders say GM's revival plan - due to be presented to the U.S. Full story...

Daimler today reported a disastrous fourth-quarter loss weighed down by significant losses and charges at Chrysler. Daimler swung to a loss before interest and tax (EBIT) of 1.95 billion euros ($2.47 billion) in the fourth quarter of 2008. Full story...

Swiss auto parts and textile company Rieter has reached an agreement with a group of banks for medium- and longer-term financing, the group said today. Full story...

Most US auto eyes will be on Washington DC this afternoon (GMT) when General Motors and Chrysler submit final restructuring/viability plans to the US treasury as part of the conditions of a first tranche of bailout loans at the turn of the year, and more help expected to be made available today. But nervous eyes will be watching from this side of the Atlantic, too as GM's European brands brace for the effects of the parent company's survival plan. Full story...

Bertrand Peugeot who oversaw the merger of the French car companies Peugeot and Citroen has died, aged 85. Bertrand Peugeot became vice chairman of Peugeot's supervisory board in 1972. Full story...

Bertrand Peugeot who oversaw the merger of the French car companies Peugeot and Citroen has died, aged 85. Bertrand Peugeot became vice chairman of Peugeot's supervisory board in 1972. Full story...

The U.S. government will release $4 billion in additional aid to General Motors today as planned, a White House aide said, ahead of the deadline for the automaker to submit a new survival plan. Full story...

The U.S. government will release $4 billion in additional aid to General Motors today as planned, a White House aide said, ahead of the deadline for the automaker to submit a new survival plan. Full story...