Auto News 5

Nissan raised its profit and global unit-sales forecasts after boosting net income by almost four times in the last quarter. Nissan expects a 270 billion yen ($3. Full story...

Toyota on Thursday announced a recall of almost 136,000 compact cars in Japan and Europe to fix a steering problem, the latest in a series of issues that have tarnished its once stellar reputation. Full story...

LA Show debut for new Subaru concept car designed to demonstrate "Confidence in Motion."

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Official VFACTS data released by the Federal Chamber of Automotive Industries (FCAI) showed that 80,925 passenger cars, SUVs and commercial vehicles were sold in Australia October, up 0.1% (or 112 vehicles) on the same month in 2009. Full story...

General Motors says it has become the first global automaker to sell 2m vehicles in China in a single year. Full story...

XF gets a tweaked look with optional Black Pack wheels and gloss black trim.

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October was a much-needed shot in the arm for US light vehicle sales. Over the course of two days of reporting, there were new sales records and most automakers came in well ahead of last October. Full story...

October was a much-needed shot in the arm for US light vehicle sales. Over the course of two days of reporting, there were new sales records and most automakers came in well ahead of last October. Full story...

Volvo plans to hire a team of designers in China to appeal to more local buyers and help Volvo reposition itself as an upscale brand to take on BMW and Audi. Full story...

Pirelli, Europe's third-largest tire company, will invest 1.9 billion euros ($2.7 billion) over the next five years on premium products and its emerging market presence to boost margins. Full story...

Toyota led carmakers in cutting CO2 emissions in Europe last year and is closest to achieving its target under EU legislation, an environmental transport group said. Full story...

GM has started making an electric version of its popular Chevrolet New Sail in China and will roll out prototypes before the end of the year, making it the first foreign automaker to build electric cars in the world's biggest auto market. Full story...

ADESA Inc. has acquired Premier Auction Group, which includes six auction sites, and is building a greenfield auction site in Las Vegas, the used-vehicle auction giant said today. The acquired auction houses are Bay Auto Auction in Bay City, Mich. Full story...

U.S. consumers are holding onto their current vehicles longer, automotive consultant Polk said. This continues a trend that began in late 2008 -- coinciding with a dropoff in new-vehicle sales and the U.S. economic downturn. Full story...

Japanese electronics giant Panasonic Corp. said late Wednesday it invested $30 million in the U.S. electric car manufacturer Tesla Motors Inc. to cooperate on green powertrain development. Full story...

Fernando Alonso believes Ferrari's rivals are "trying to divert attention" from their own problems by playing psychological games in the media. Full story...

Mazda North American Operations will debut the all-new North American version of the popular Mazda5 multi-activity vehicle at the 2010 Los Angeles Auto Show. Since its launch in 2005, Mazda5 has redefined the compact van by offering seating for six (US version) in three easily configurable rows, as well as styling and dynamics simply not found in any other vehicle in this segment. Furthermore, the original Mazda5 was the first compact van with two sliding rear doors. This type of insight and fun to drive engineering is found in all Mazdas, and is defined by the term "Zoom-Zoom." Full story...

The Spyker C8 Aileron Spyder concept makes its UK debut today at MPH The Prestige and Performance Motor Show at Earls Court in London. For the first time, British motoring enthusiasts visiting the annual celebration of performance motoring will be able to lay their eyes on one of the most exclusive cars in the world. Full story...

The Renault V8 engine to be used by Sebastian Vettel in Brazil this weekend in his Red Bull RB6 has already contested two grands prix, it has emerged. Full story...

Sony Computer Entertainment America LLC (SCEA) hosted its eighth annual Gran Turismo Awards at the SEMA (Specialty Equipment Market Association) show last night at the Hard Rock Hotel & Casino in Las Vegas, celebrating automotive design excellence and showcasing the latest franchise offering, Gran Turismo 5. Each year, the Gran Turismo Awards offer SEMA show exhibitors the opportunity to join the ranks of the famed Gran Turismo racing franchise - one of the top-selling video game franchises of all time with more than 56 million units shipped worldwide - with a feature spot in a future Gran Turismo title. After reviewing more than 100 entries, the judging panel and Gran Turismo creator Kazunori Yamauchi himself, crowned Best Hot Rod winner, Mark Stielow for his 1969 Chevy Camaro as the 2010 "Best in Show." Full story...