Auto News 5

A union conglomeration representing Fiat labour has flatly rebuffed Italian government plans to consider alternatives other than car production for the threatened Sicilian plant of Termini Imerese. Full story...

Automakers started the year in Australia on a positive note with a significant increase in the number of new vehicles sold during January. Full story...

Swedish state guarantees have been approved by the European Commission (EC) as part of plans by the European Investment Bank (EIB) to lend Saab EUR400m (US$548m). Full story...

Tenneco swung to a fourth-quarter profit on steep prior-year charges as the autoparts maker also benefited from cost cutting and reported higher sales for the first time in nearly two years. Full story...

January auto sales in Vietnam surged 76% year on year to 6,961 units, accelerating from an annual rise of 59% in December, an industry report said on Friday. Full story...

Egypt's biggest passenger car assembler, GB Auto, has established a US$80m joint venture to distribute Hyundai vehicles in Iraq. Full story...

Subaru to unveil Impreza XV crossover at Geneva Motor Show

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Automobile output in Brazil jumped year on year in January, an indication that government-sponsored incentives helped propel domestic demand for new cars, the national automakers' association Anfavea said. Full story...

First look at European-spec hybrid sports-car

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EDITOR WES RAYNAL: Not a bad little piece but holy crap, that sticker price is at least $7,000 more than I would have guessed! Ford has done some serious revamping of this little ute. Full story...

American Axle & Manufacturing (AAM) results in the fourth quarter of 2009 were net earnings of US$48.6m or $0.80 per share. This compares to a net loss of $112.1m, or $2.17 per share, in the fourth quarter of 2008. Full story...

Seating specialist Lear Corporation reported fourth quarter net sales of US$2.7bn and pretax income of $1,194m, including a gain related to reorganisation items and fresh start accounting adjustments of $1,513m, a goodwill impairment charge of $319.0m and restructuring costs of $59.3m. Income before interest, other expense, income taxes, restructuring costs and other special items (core operating earnings) was $115.5m in the fourth quarter of 2009. This compared with net sales of $2.6bn, a pretax loss of $682.9m, including a goodwill impairment charge of $530.0m, and core operating earnings of $22.0m in the fourth quarter of 2008. Full story...

Toyota Motor is set to file recalls over brake problems with its latest Prius hybrid in both the United States and Japan, in a move that will affect more than 270,000 vehicles, Japanese sources familiar with the matter said on Monday. Full story...

Better Place, the US start up developing charging stations, expects to serve thousands of electric cars on Israeli roads by the second half of 2011, CEO Shai Agassi said. Full story...

Vehicle sales in Russia were down almost 50% last year to 1.5 million according to JATO Dynamics. Full story...

Russian automaker GAZ Group's attempt to restructure its debts has again been stalled by Alfa Bank, according to business daily Vedomosti, which cited sources involved in the talks. Full story...

The Italian government has received a number of offers to convert Fiat SpA's Termini Imerese plant to other uses after the company suspends car production there, industry minister Claudio Scajola said. Full story...

Volkswagen's Audi luxury division reported a strong order book for the the first three months of this year after demand in China, North America and Europe saw 39% sales jump in January. Full story...

Baby concept shows potential for new two-seater; micro-car penned in VW’s Brazilian studio Full story...

Citroen confirms Cooper S rival; prototype spied as it takes shape Full story...