Auto News 5

The Canadian Auto Workers union said on Friday it had not yet struck a cost-saving deal with automaker Chrysler LLC, but that it would remain in talks until March 31. Full story...

Chrysler LLC and the Canadian Auto Workers union are still "far apart" in negotiations to reach a cost-saving deal to help the company qualify for government aid, the head of the union said today. Full story...

I guess one of the highlights of the week was the launch of surely one of the most-hyped new cars in recent times, Tata's Nano. As any major new model seems to get about three launches these days - the 'first official photo' press release, the 'international press event' and the local market launches - who's to blame Tata, which first revealed the car at the Delhi show way back in January, 2008? Full story...

General Motors will halt Cadillac sales in more than half of the brand's European markets following the collapse of its regional distributor. Full story...

South Korea president Lee Myung-bak has urged the country's automakers to do everything they can to overcome the economic slowdown before seeking government assistance. Full story...

Spy photographer Brenda Priddy serves up a fresh look at the Ferrari F450, the car set to replace the F430 in Ferrari's lineup later this year. Full story...

Spy photographer Brenda Priddy serves up a fresh look at the Ferrari F450, the car set to replace the F430 in Ferrari's lineup later this year. Full story...

Spy photographer Brenda Priddy serves up a fresh look at the Ferrari F450, the car set to replace the F430 in Ferrari's lineup later this year. Full story...

Fisker Automotive has chosen its first 27 retailers, including dealership groups led by John Bergstrom and Ron Tonkin, as part of the automaker’s effort to build a boutique of low-volume green cars with price tags approaching $100,000. Full story...

German supplier Grammer Group has cut 20 percent of its global workforce following a slump in business from its automaker customers, the company said. Full story...

A former Cadillac executive is now in charge of ensuring that Infiniti's marketing messages are strong and consistent as the brand goes global. Full story...

The White House on Friday will boost fuel-economy standards for light vehicles to 27.3 mpg for 2011, media reports said. Full story...

Fuel-economy standards for all light vehicles will rise 8 percent, to an average of 27.3 mpg for the 2011 model year, under new U.S. rules issued on Friday. Full story...

Fuel-economy standards for all light vehicles will rise 8 percent, to an average of 27.3 mpg for the 2011 model year, under new U.S. rules issued on Friday. Full story...

Johnson Controls Inc. said today it will reduce its work force and close 10 plants as part of a new round of restructuring. The parts maker also will take a pre-tax charge of up to $215 million, to be taken in the second quarter ending March 31 Full story...

Electric car specialist Tesla Motors has unveiled its second production model in addition to its Roadster. The 'Model S' is described as a family sedan that carries seven people, travels 300 miles per charge and will sell at just under US$50,000 - with production planned to begin in 2011. Full story...

Continental's supervisory board today elected lawyer Rolf Koerfer as its chairman. Koerfer, 51, is an adviser to the Schaeffler Group, which in January completed a hostile takeover of the tire and automotive components supplier. Full story...

Vehicle interior and battery specialist Johnson Controls on Friday said it would book an additional pre-tax restructuring charge of US$200-$215m for its fiscal 2009 second quarter but expected a return to profitability in its third and fourth quarters with its interiors business expected to break even by the end of the fiscal year. The restructuring includes unspecified workforce reductions and the closure of 10 manufacturing plants expected to be completed in 2010 with a planned payback of 1.5 years. Full story...

BMW is expanding the range of its vehicle models produced at the Avtotor plant in Kaliningrad to include the X5 and X6. Full story...

Michelin is planning additional production furloughs to avoid layoffs affecting 9,000 employees in Spain this year. Full story...