Auto News 5

Today we learned that Penske Automotive Group (PAG) has decided to terminate discussions with General Motors to acquire Saturn. This is very disappointing news and comes after months of hard work by hundreds of dedicated employees and Saturn retailers who tried to make the new Saturn a reality. Full story...

Toyota's team boss has indicated the Japanese manufacturer might decide to pull out of formula one. Full story...

Kamaz and Federal Mogul plan to launch joint production of auto components in Tatarstan on October 6, Kamaz has said in a statement. Full story...

A General Motors venture to sell cars online through eBay has proven short-lived and will end this week, a person familiar with the situation told Dow Jones Newswires on Tuesday. Full story...

Dacia will replace its best-selling Logan vehicle with a new range of models 'in a few years', according to a local news agency. Full story...

Fiat will sign a preliminary agreement to buy Carrozzeria Bertone on Thursday, trade union sources said on Tuesday. Full story...

The Gulf state of Qatar wants to increase its stake in Volkswagen AG after the German carmaker completes its takeover of Porsche SE, according to an investment authority board member. Full story...

Heavily in debt, AvtoVAZ on Tuesday said it was creating a staff to oversee the implementation of its anti-crisis programme. Full story...

Hyundai Motor has said it will skip this year's Tokyo Motor Show, making it the latest automaker to bow out as marketing budgets come under pressure. Full story...

Electric vehicles were one of the dominant features of this year's Frankfurt motor show. But unlike in 2007, nearly all the ones that were on show this year were very real runners. As an engineer, the future excites Tony Butcher who started in the car industry as an apprentice, gaining an MSc in engineering business management, before joining Rover. He progressed through the ranks running major operations at Unipart and Benetton F1 before ending up at Prodrive in 1998. Full story...

China's Ministry of Commerce (MOC) has issued a statement saying it would approve GM's plan to buy part of Delphi, but also set conditions on the deal to avoid restricting competition. Full story...

Mazda will launch new petrol and diesel engines and an automatic transmission at the Tokyo motor show next month. Full story...

After 30 years as the favoured new car import on the auto-restricted island of Cuba, Russia's Lada is facing competition from the more modern, power steered, air conditioned Geely CK with its electric windows and other mod cons but may yet fight back. Full story...

Electric supercar combines stealth styling with earth-shattering pace

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A unit of Navistar International and China's Jianghuai Automobile plan to set up a 50-50 truck venture with investment of at least CNY2bn (US$293 million), Jianghuai said on Tuesday. Full story...

Hyundai Mobis, the auto components maker affiliated with the Hyundai Kia Automotive Group, plans to expand its current network of 18 overseas logistics centres supplying spare parts. Full story...

Toyota Motor plans to consolidate purchases of resin materials among group companies to cut costs and strengthen its bargaining power, the Nikkei business daily has reported. Full story...

Canadian artist turn a G37 Coupe into a work of art, to celebrate the manufacturer's 20th anniversary

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China has approved General Motors' plan to buy back part of former parts unit Delphi following an anti-monopoly probe, Chinese state media said on Tuesday. Full story...

Detroit-based businessman and national dealer chain owner Roger Penske is expected to close a deal to buy General Motors' Saturn division tomorrow (30 September), a local paper reported, adding that an official announcement could be made on Thursday. Full story...