Auto News 5

Chrysler is on the brink of filing for Chapter 11 today as reports in the US suggest that debt negotiations with Chrysler's lenders have stalled. Full story...

French auto suppliers are being hard hit by the slowdown in European auto production, with sales down by more than 12 percent to 20 billion euros in 2008, according to the French suppliers federation FIEV. FIEV said a 9. Full story...

Citroen wants to boost its market share in Europe this year, Jean-Marc Gales, the brand's new head, said on Thursday. The French brand kept its market share at 5.8 percent in the first three months despite unit sales falling 17. Full story...

There is "reasonable optimism" that a deal between Fiat S.p.A. and Chrysler LLC could be announced on Thursday, Italy's industry minister said on Thursday after talking with Fiat's top management. Full story...

Chrysler, an 84-year-old symbol of America’s manufacturing might, has filed for Chapter 11 bankruptcy in an unprecedented move announced Thursday by President Barack Obama. Full story...

Chrysler is headed for a trip through bankruptcy, a government official said Thursday, as talks with holdout debt holders have collapsed. Full story...

British car dealer Lookers Plc. posted a 43 percent fall in 2008 adjusted pretax profit due to higher administration and distribution expenses, and said the company was not proposing a final dividend as it was planning to reduce debt. Full story...

British car dealer Lookers Plc. posted a 43 percent fall in 2008 adjusted pretax profit due to higher administration and distribution expenses, and said the company was not proposing a final dividend as it was planning to reduce debt. Full story...

German chipmaker Infineon is suffering from a collapse in the global car market. The Munich-based company said on Thursday its operating loss in the second quarter, which ended on March 31, widened to 110 million euros ($145. Full story...

German chipmaker Infineon expects third-quarter operating results to improve significantly and revenues to gain around 10 percent from the second quarter but saw full-year revenue down 20 percent. Full story...

Chrysler's UAW members, facing the specter of the automaker seeking bankruptcy as early as Thursday, approved contract concessions that may help the company win additional U.S. rescue loans. Full story...

General Motors' bondholders today presented an alternate restructuring plan for the automaker, calling for deal allowing them to control 51 percent of the reorganized company in exchange for $27 billion in debt. Full story...

Mazda Motor Corp. said on Thursday it had increased its stake in a Chinese sales company to 40 percent from 25 percent for 49.5 million yuan ($7.26 million) in a move that would give it bigger dividends from its profitable Chinese business. Full story...

Bondholders today will present an alternative to General Motors' just-launched debt-for-equity exchange in a deal that would swap a 51-percent stake in a restructured company for $27 billion in debt, according to a person with knowledge of the plan. Full story...

Austrian-Canadian car parts maker Magna International wants to help Opel but it is too early to say what role it will play, Magna founder Frank Stronach said in a newspaper interview on Wednesday. "We don't see ourselves as a white knight. Full story...

Renault reported Wednesday a massive drop in revenues during the first quarter of 2009, but signaled that inventories were declining as scrapping incentives across Europe boosted new-car orders above levels seen during the same period in 2008. Full story...

Fiat's former marketing head Luca de Meo will be a great addition to Volkswagen's senior management team, said VW CEO Martin Winterkorn. Full story...

Renault announced Wednesday it will add a third shift at its factory in Palencia, Spain, in June to meet strong demand for its new lower-medium Megane. Full story...

HERNDON, Va., Apr 30, 2009 - Before stepping into a new car, you need to step into a dealership - an experience which has long been characterized as hectic, overwhelming, and disjointed. But what if a dealership was designed like a luxury vehicle itself, where every detail was taken into account - down to the flowers and coffee cups? The Audi commitment to progress goes beyond vehicles to redefining dealerships themselves. Full story...

HUNTSVILLE, Ontario -- They're calling it Touareg TDI, but could just have easily called it Touareg Take Two. Take One debuted in 2003 as a unique SUV proposition -- a full-bore mountain climber that came at no compromise to luxury, convenience or safety. Available with three stout engines (V6, V8, V10 diesel), a high-tech air-suspension system, and a host of other neat stuff, the Touareg seemed destined for upward mobility. Full story...