In today's News Brake: The FIA slaps Formula One team McLaren on the wrist and says don't lie again; the end of Saturn will cut into General Motors' hybrid sales; and the Ford Fusion Hybrid is quite the gas sipper ... But Wait, There's More!
Full story...
PARIS -- Renault reported Wednesday a massive drop in revenues during the first quarter of 2009, but signaled that inventories were declining as scrapping incentives across Europe boosted new-car orders above levels seen during the same period in...
Full story...
Chrysler is continuing to make progress to complete a proposed alliance with Fiat and qualify for additional government loans, Chrysler CEO Bob Nardelli said on Wednesday.
Full story...
Iran Khodro (IKCO) will begin exporting its newly introduced car, Runna, to Turkey by July, according to the firm's Turkish distributor.
Full story...
General Motors has received European regulatory approval for its debt for equity swap.
Full story...
PSA Peugeot Citroën's Mulhouse and Sochaux plants have launched pilot projects to process engineer the new 'HYbrid4 hybrid diesel 4WD' technology.
Full story...
Renault's worldwide group sales fell 22.4% in the first quarter, in line with global market trends, the automaker said on Wednesday.
Full story...
General Motors says it will repurchase unsold new vehicles and parts from dealers whose franchise agreements are terminated, but the automaker won't compensate dealers for the loss of the franchise.
Full story...
Michelin net profits fell 14.2% year on year to EUR3.51bn ($US4.62bn) in the first quarter of 2009 but the tyre maker said it was on course for positive results later in 2009.
Full story...
ZF Friedrichshafen reported sales off about 1% to US$16.3bn (EUR12.5bn) in 2008 after its car, truck and construction machinery parts markets declined significantly in the last quarter.
Full story...
The slump in worldwide vehicle production "left scars on the performance of Continental", the supplier said, announcing first quarter results.
Full story...
Jurgen Kiehne, a former engineer with Mercedes-Benz, Smart and EvoBus, is the new president of Mercedes-Benz Technology North America LLC. Kiehne, 54, will manage engineering and consulting operations for the company, MBtech said.
Full story...
American Axle & Manufacturing Holdings is to close the largest axle plant in its Detroit area manufacturing complex and move the production to Mexico, a United Auto Workers union official was quoted as saying.
Full story...
Magna International has laid off 725 workers at its truck frame (chassis) plant in Saint Thomas, Ontario, because customers have reduced production.
Full story...
President Obama is planning to announce Thursday morning that Chrysler LLC will file for Chapter 11 bankruptcy protection as it completes an alliance with Fiat S.p.A., Bloomberg News reported, citing people familiar with the matter.
Full story...
Chrysler LLC and Fiat S.p.A. are prepared to complete an alliance by Thursday that would be taken into bankruptcy court as a key element of the U.S. automaker's restructuring plan if needed, a person with direct knowledge of the situation said.
Full story...
The Obama administration said today U.S. automaker Chrysler LLC and Italy's Fiat SpA needed to clear some hurdles if they were to complete an alliance before an April 30 deadline for a deal.
Full story...
Barack Obama is planning to announce Thursday morning that Chrysler LLC will file for Chapter 11 bankruptcy protection as it completes an alliance with Fiat S.p.A., Bloomberg News reported, citing people familiar with the matter.
Full story...
The latest auto news, reviews, prices, product and vehicle releases. 
