Auto News 5

One year after introducing the E-Rod LS3 crate engine at SEMA, GM Performance Parts used this year's show to announce even more crate options for hot-rodders with the addition of three new E-Rod packages--the E-Rod 5. Full story...

'Is it True? proclaims a banner at Nissan's exhibition to promote its new all-electric Leaf model at the appropriately-named Museum of Electricity in Lisbon. Full story...

Nissan says it will initially select only its best-performing dealers in Europe to distribute the new all-electric Leaf vehicles as it gears up for a worldwide launch. Full story...

The Renault-Nissan alliance is expected to increase its stake in AvtoVAZ within two to three years, Sergei Chemezov, CEO of Russian state-owned industrial conglomerate Rostekhnologii, said. Full story...

SAIC Motor Corp is close to making a decision on whether to buy a stake in its long-time partner General Motors as the latter goes public, sources with knowledge of the matter have said on Wednesday. Full story...

SAIC Motor Corp (SAIC) and General Motors (GM) have signed a non-binding memorandum of understanding (MoU) "to reinforce their collaboration in certain core areas of their business, including the development of new energy vehicles and the creation of a stronger and more integrated role for their Pan Asia Technical Automotive Center (PATAC) automotive engineering and design joint venture to work on future vehicles and powertrains". Full story...

Continental has raised its 2010 outlook but its third-quarter earnings missed analysts' estimates. Full story...

BMW has booked a massive rise in third quarter profit to EUR874m, up from EUR78m a year ago on revenues up 35.6% to EUR15.94bn. Nine-month net profit was 2.03bn (EUR47m) on revenues up 20.7% to EUR43.73bn. Full story...

Continental raised its 2010 forecasts for the second time this year, citing the auto industry's growth. The manufacturer's stock fell as quarterly profit missed estimates. Full story...

Spanish parts maker Cie Automotive's nine-month net profits nearly tripled to EUR31.3m as revenues soared 43%, boosted by a strong performance of its business in the emerging markets. Full story...

Aston Martin was profitable through the economic crisis and its new Cygnet minicar will be a cult hit like the brand's models made famous by James Bond movies, CEO Ulrich Bez said. Full story...

Continental is confident its earnings will remain strong next year because of continued healthy car production rates, its finance chief said in an interview. Full story...

Vehicle sales in Spain and France fell again in October sparking further concerns over the auto industry in both countries. Full story...

Skoda Auto plans to double its revenue over the next 10 years, driven by higher sales in fast growing non-European markets, chief Winfried Vahland said. Full story...

Top Chinese automaker SAIC is close to making a decision on whether to buy a stake in longtime partner General Motors as the U.S. auto firm makes its initial public offering, sources with knowledge of the matter said on Wednesday. Full story...

Today, Wednesday 3 November, is the day automakers are scheduled to release their October sales figures, but a number of them jumped the gun and posted their results on Tuesday, mid-term election day. Full story...

BMW made less money in the third quarter on its cars than Audi and Mercedes even as the revamped 5 series helped spark an 11-fold increase in net income. BMW posted an automotive operating profit margin in the quarter of 8. Full story...

BMW made less money in the third quarter on its cars than Audi and Mercedes even as the revamped 5 series helped spark an 11-fold increase in net income. BMW posted an automotive operating profit margin in the quarter of 8. Full story...

Honda, which for many years has been driving down the hybrid route, may be having second thoughts about demand for battery powered electric cars. Full story...

GM and its Chinese partner, SAIC Motor, will cooperate on developing alternative-energy vehicles as the world's largest auto market aims to reduce its dependence on oil. Full story...