Auto News 5

Fiat's deal with Chrysler LLC will be decided Thursday evening, Fiat Vice Chairman John Elkann said today. "The Chrysler deal will be decided on Thursday evening our time, end of day in the United States. Full story...

German economy minister Karl-Theodor zu Guttenberg is meeting senior representatives of Magna on Tuesday to discuss a possible investment in Opel. Full story...

Fiat S.p.a. and Magna International Inc. are emerging as rival bidders for a significant stake in General Motors' Opel/Vauxhall subsidiary. Full story...

Fiat S.p.a. and Magna International Inc. are emerging as rival bidders for a significant stake in General Motors' Opel/Vauxhall subsidiary. Full story...

Group 1 Automotive Inc., the fourth-largest U.S. dealership group, today posted net income of $8.4 million in the first quarter and said it will cut about $120 million from its 2009 operating costs. Full story...

The US government has said it has no wish to run a North American automaker even though it could end up with a controlling interest in General Motors. Full story...

Honda Motor has posted a fourth quarter operating loss of JPY283bn, down JPY 451.8bn compared to Q4 2008. Full story...

Mitsubishi President Osamu Masuko is stepping up plans to roll out the company's first electric vehicle, eyeing 50 percent more output by 2011 to meet overseas demand. Growing volume should make the car profitable as early as 2013, Masuko added. Full story...

SAIC Motor Corp., China's biggest automaker, on Tuesday posted a fall of nearly 50 percent in first-quarter earnings, as a slowing economy continued to weigh on the automobile industry. The company posted 1. Full story...

Daimler AG has reported a massive plunge in profits for the first quarter of 2009. The net loss of EUR1,286m compared with net profit of EUR1,332m in Q1 2008 while EBIT was minus EUR1,426m for period compared with a EUR1,976m profit last year. Revenue fell to EUR18.7bn versus EUR24bn in 2008. Full story...

Daimler is to divest its 19.9% stake in Chrysler. Full story...

Daimler expects another significant loss in the second quarter after posting first-quarter results that fell far short of expectations. The company burned through more of its cash, sending its shares tumbling. Full story...

Daimler expects another significant loss in the second quarter after posting first-quarter results that fell far short of expectations. The company burned through more of its cash, sending its shares tumbling. Full story...

Daimler today posted a net loss of 1.29 million euros for the first quarter. The company said the global financial and economic crisis and the resulting difficult automotive markets have placed a significant burden on its earnings. Full story...

Daimler expects another significant loss in the second quarter after posting first-quarter results that fell far short of expectations. The company burned through more of its cash, sending its shares tumbling. Full story...

German Economy Minister Karl-Theodor zu Guttenberg is meeting senior representatives of Magna on Tuesday to discuss a possible investment in Opel. A ministry spokesman said the two parties would discuss the Austrian-Canadian firm's ideas. Full story...

Qatar is "seriously" considering taking a stake Porsche, Prime Minister Sheikh Hamad bin Jassem al-Thani told Qatar's Al-Arab newspaper in remarks published on Tuesday. Full story...

UAW local chiefs approved labor concessions that would cut Chrysler LLC's cash payments to a retiree health-care trust in exchange for 55 percent of the equity in the planned Chrysler-Fiat partnership, a source familiar with the accord said. Full story...

The F-CELL Roadster built by apprentices at the Mercedes-Benz plant in Sindelfingen covered a section of the historic route taken by Bertha Benz on the past weekend. Starting in Mannheim, the fuel cell powered car was driven via Ladenburg and Heidelberg. The symbolic passing of the finish line was at the chemist's shop in Wiesloch, where Bertha Benz stopped to refuel during the first long-distance journey in automobile history in 1888. Full story...

Gaydon, Warwickshire 26 April 2009. At its world debut this weekend, the Aston Martin One-77 has won the Concorso d'Eleganza Design Award for Concept Cars and Prototypes on the shores of Lake Como, Italy. Full story...