Auto News 5

All manufacturers are feeling the heat in recession-hit Europe this year and BMW Group is no exception. Even the highly successful Mini brand has been impacted with the plant at Oxford losing a shift. Full story...

All manufacturers are feeling the heat in recession-hit Europe this year and BMW Group is no exception. Even the highly successful Mini brand has been impacted with the plant at Oxford losing a shift. Full story...

The French government will oppose a EUR3.2m (US$4.4m) severance payment [aka 'golden parachute'] for departing Valeo's chairman and chief executive Thierry Morin. Full story...

The acquisition of Valeo's former wiring systems division (now LWSF) on 2 January 2008 helped Leoni boosted sales 23% to EUR2.9bn in the 2008 financial year, which it described as "a period marked by an unprecedented reversal in the economy", but the Nuremburg-based auto wiring harness specialist posted significantly lower earnings before interest and taxes (EBIT) of EUR55.7m (2007: EUR138.1m) and sharply reduced net income of EUR5.2m (EUR86.2m). Full story...

The German government has not yet decided on a possible extension of its scrappage incentives, Foreign Minister Frank-Walter Steinmeier said on Tuesday. Full story...

German Foreign Minister Frank-Walter Steinmeier signalled his support today for extending a scrappage incentive that has boosted new-car sales. However, Steinmeier said the government had not yet decided on the measure. Full story...

Mazda Motor has developed a claimed world-first recycling system which enhances the process it uses to recycle used bumpers into raw plastic resin for use in new vehicle bumpers. Full story...

German cable and wiring supplier Leoni has cut 4,000 jobs since the start of the year as it braces itself for a sharp drop in revenue and a further hit to profits in 2009. Full story...

Former Valeo CEO Thierry Morin deserves a payout based on his strong performance for most of the decade as head of the company, says the man who lured Morin to the French car parts supplier 20 years ago. Full story...

The French state, which owns 8 percent of partsmaker Valeo, will oppose the supplier's plan to pay departing CEO Thierry Morin a severance bonus of 3.2 million euros ($4.4 million), a government spokesman said today. Full story...

Small SUVs from Jeep, Honda, Volkswagen and Subaru received top ratings for their ability to withstand roof damage in rollover accidents that often prove deadly, the Insurance Institute of Highway Safety said today. Full story...

General Motors of Canada will save nearly C$1 billion ($819.1 million) on future labor costs as a result of union concessions it won earlier in March, the company said in a letter obtained by Reuters. Full story...

Weaker-than-expected sales has prompted Toyota Motor Corp. to revise down planned production in Japan in May, the Asahi newspaper reported today. Full story...

Pininfarina said that Leonardo and Co. has been hired as adviser to sell the stake held by the group's family holding company, Pincar. Full story...

Since the last new Camaro left us over seven years ago, Canadians were left with the Ford Mustang to fill the affordable muscle car niche. Things are about to change. Full story...

Austrian Formula 1 driver Christian Klien on Tuesday drove last year's BMW-Sauber down the main road of the town of Kinglake in Australia. Full story...

Racism and even threats were hauled at Toyota driver Timo Glock and his family in the wake of the dramatic championship finale of 2008. Full story...

If you combine sales of the Chevrolet Cobalt and Pontiac G5 together, only the Honda Civic outsold them in Canada during the 2008 calendar year. Yet the automotive press keeps ranking the Cobalt at the bottom of the compact-car crowd. Could it be that auto writers are completely devoid of common sense, or does this Chevy fulfill compact sedan buyers' needs? It might be a little of both. Full story...

The FIA, Formula 1's governing body, confirmed on Monday that Brawn GP drivers have been allocated the lowest race numbers in 2009. Full story...

Team Penske's new recruit Will Power proved to be the fastest driver on the Barber Motorsports Park circuit on day 2 of the final open test before the season starts at St. Petersburg, posting a quick time of 1:09.456. Full story...