Auto News 5

Mercedes-Benz has said its monthly vehicle sales in China grew 21% year on year to hit 2,800 units in February. Full story...

The Canadian Auto Workers union has begun talks with Chrysler in Toronto. Full story...

Linamar Corp. is not in danger of breaching any bank covenants and expects to win significant new work over the next several months as weaker rivals succumb to the steep downturn in the North American auto market, the company's CEO said Monday. Full story...

Union concessions on labour costs to General Motors of Canada made earlier this month will save the automaker almost C$1bn ($819.1m), it has emerged. Full story...

The French state will invest 10 million euros ($13.63 million) in niche carmakar Heuliez, if the company comes up with a realistic industrial plan, government spokesman Luc Chatel said today. Full story...

The Royal Bank of Scotland is reported to have has sued Lear Corporation seeking at least $35.2m in a breach of contract lawsuit involving foreign exchange and other swaps. Full story...

All manufacturers are feeling the heat in recession-hit Europe this year and BMW Group is no exception. Even the highly successful Mini brand has been impacted with the plant at Oxford losing a shift. Full story...

All manufacturers are feeling the heat in recession-hit Europe this year and BMW Group is no exception. Even the highly successful Mini brand has been impacted with the plant at Oxford losing a shift. Full story...

The French government will oppose a EUR3.2m (US$4.4m) severance payment [aka 'golden parachute'] for departing Valeo's chairman and chief executive Thierry Morin. Full story...

The acquisition of Valeo's former wiring systems division (now LWSF) on 2 January 2008 helped Leoni boosted sales 23% to EUR2.9bn in the 2008 financial year, which it described as "a period marked by an unprecedented reversal in the economy", but the Nuremburg-based auto wiring harness specialist posted significantly lower earnings before interest and taxes (EBIT) of EUR55.7m (2007: EUR138.1m) and sharply reduced net income of EUR5.2m (EUR86.2m). Full story...

German Foreign Minister Frank-Walter Steinmeier signalled his support today for extending a scrappage incentive that has boosted new-car sales. However, Steinmeier said the government had not yet decided on the measure. Full story...

The German government has not yet decided on a possible extension of its scrappage incentives, Foreign Minister Frank-Walter Steinmeier said on Tuesday. Full story...

Mazda Motor has developed a claimed world-first recycling system which enhances the process it uses to recycle used bumpers into raw plastic resin for use in new vehicle bumpers. Full story...

German cable and wiring supplier Leoni has cut 4,000 jobs since the start of the year as it braces itself for a sharp drop in revenue and a further hit to profits in 2009. Full story...

Former Valeo CEO Thierry Morin deserves a payout based on his strong performance for most of the decade as head of the company, says the man who lured Morin to the French car parts supplier 20 years ago. Full story...

The French state, which owns 8 percent of partsmaker Valeo, will oppose the supplier's plan to pay departing CEO Thierry Morin a severance bonus of 3.2 million euros ($4.4 million), a government spokesman said today. Full story...

Small SUVs from Jeep, Honda, Volkswagen and Subaru received top ratings for their ability to withstand roof damage in rollover accidents that often prove deadly, the Insurance Institute of Highway Safety said today. Full story...

General Motors of Canada will save nearly C$1 billion ($819.1 million) on future labor costs as a result of union concessions it won earlier in March, the company said in a letter obtained by Reuters. Full story...

Weaker-than-expected sales has prompted Toyota Motor Corp. to revise down planned production in Japan in May, the Asahi newspaper reported today. Full story...

Pininfarina said that Leonardo and Co. has been hired as adviser to sell the stake held by the group's family holding company, Pincar. Full story...