Auto News 5

Volkswagen's luxury diesel cars in Europe are fitted with the same software that U.S. regulators say was used to cheat emissions tests in the United States, the carmaker said today.

VW Group's luxury diesel cars in Europe including Audi and Porsche models are fitted with the same software that U.S. regulators say was used to cheat emissions tests in the United States, the automaker said.

Faraday Future, the startup backed by Chinese billionaire Jia Yueting, has big dreams of taking on Tesla Motors, starting with a $1 billion investment in a new U.S. factory that will build electric cars starting in 2017.

U.S. Trade Representative Michael Froman defended rules governing trade in autos as part of a Pacific trade pact and warned that trying to renegotiate parts of the deal could unravel the whole thing.

Toyota has posted fiscal first half (six months ended September 30) net income up 11.6% to a record 1.2581 trillion in results boosted by the weak yen.

Magna has posted sales down 7%to  US$7.7bn for the third quarter ended 30 September.

News 5 Nov, 2015

Honda UK confirms certain Jazz, Civic, Accord, Stream and CR-V models will be recalled for airbag fix

Maserati is deepening production cuts as a boom prompted by the Ghibli sedan fades. The brand's slowing sales volume raises questions about parent Fiat Chrysler Automobiles' ambitions to expand in the luxury-car segment.

Remy says China's Ministry of Commerce has approved the acquisition of the company by BorgWarner, with the inking the last of the regulatory approvals needed.

German prosecutors are considering whether to open a new criminal investigation into Volkswagen Group after the automaker said it found faulty CO2 emissions readings in gasoline-powered vehicles, widening a scandal that so far had centered on diesel...

Fiat Chrysler has twice increased output at its plant in Melfi, Italy, in the last year to keep up with demand for the Jeep Renegade and Fiat 500X. The automaker invested 1 billion euros in Melfi to build the sibling subcompact SUVs.

Tesla's revenue for the third quarter ended 30 September 2015 was up 6.6% to US$852.55m. The operational loss widened to $183.7m. Loss before income taxes widened to $228.1m from $70.98m. Net loss increased to $229.85m compared to $74.7m in Q3 2014.

Honda Motor operating profit for the first half (1 April 2015 through 30 September 2015) rose 7.9% to JPY404.1bn (US$3.33bn) due to strong automobile sales in North America and Asia, additional volume from the new HR-V SUV plus cost reductions.

Gentherm has announced plans to expand production capacity in the fast growing North American market by opening a new manufacturing facility in Mexico close to the city of Celaya in the state of Guanajuato, Mexico in the central part of the country.

Mazda today reported a major increase in operating profit in the latest quarter on the back of rising sales in Europe and Japan and aggressive cost cutting.

News 5 Nov, 2015

Merc's answer to the BMW M4 Convertible is seen on the road for the first time in spy shots, ahead of a launch expected in late-2016

Magna International said operational glitches at three of its plants in North America would weigh on its earnings in the current quarter and spill over to the first half of next year.

Volvo's Polestar performance brand expects to double sales next year and quickly earn double-digit margins. It aims to do this by separating itself from rivals such as BMW M by emphasizing one of the Swedish brand's core values: safety.

VW Group's emissions scandal began to hit vehicle sales in October, consultancy LMC Automotive said, with the automaker losing ground in Western Europe, where overall market growth slowed to 2.7 percent.

Data from the Society of Motor Manufacturers and Traders (SMMT) showed UK new car registrations dropped for the first time in more than three and a half years as market growth levelled off in October 2015. 177,664 new cars were registered in the month, a dip of 1.1% on last year's figure and following a record 43 consecutive months of growth. Year to date data showed the new car market is up 6.4% to 2,274,550 cars -  the best YTS result on record.