Auto News 5

Fuyao Glass Industry Group has said it has been approached by several parties to acquire US auto glass assets, although China's largest automotive glass maker, has said it has no interest in buying. Read more ...

In part one of our special, we prove fast needn’t mean thirsty – as we enter UK’s best hot hatch in a fuel-sipping marathon Read more ...

Cummins India has reported a huge rise in sales for its most recent quarter, which led to a 41% rise in net profit before tax. Read more ...

Porsche said on Friday that Volkswagen Chairman Ferdinand Piech would fully back its plans to integrate VW more closely into its European holding. Read more ...

Magna Electronics has acquired the electric car systems group BluWav Systems. Financial terms of the deal were not disclosed. Read more ...

As a diversion from the doom 'n' gloom surrounding the auto industry, I have been enjoying the History Channel's new season of Ice Road Truckers in which brave people drive heavily-ladedn trucks across frozen Canadian Far North roads - in just the few weeks the winter season allows - rushing supplies to diamond mines and natural gas fields. The seasoned veterans call this the 'dash for the cash' (a year's salary can be made in under two months) and there's a parallel between that and the ongoing talks about auto industry consolidation this week. Read more ...

Brakes group WABCO Holdings has signed a letter of intent with GuangDong Fuwa Engineering Manufacturing to form a joint venture for production of air disc brakes in China. Read more ...

Caterhams snapped up. Read more ...

The Canadian Auto Workers union has said that it opposes in potential merger between General Motors and Chrysler. Read more ...

Russia is expected to see a considerable slowing of its car market in 2008, according to one senior executive. Read more ...

General Motors Corp looks set to cut salaried jobs as the automotive slump in Europe and the US continues to rock the company's sales. Read more ...

Hyundai Motors affiliate Kia Motors reduced its third quarter net loss because it sold more fuel-efficient models. Read more ...

Maruti Suzuki has reported a fall in its second quarter net profits, as the Indian arm of Suzuki Motor Corp suffered at the hands of rising material costs and adverse currency changes. Read more ...

Renault Group has reported consolidated revenues up 9% to EUR30,091m for the first nine months of the year but reduced its operating margin forecast down from 4.5% to between 2.5% and 3%. Read more ...

Two years ago, Nissan and Renault considered extending their partnership to General Motors, and investors hated the idea. With speculation now turning to a possible link-up with Chrysler, analysts are balking even more. Read more ...

VW release the first images of the all-new Golf MkVI GTI. Read more ...

Volkswagen gives its forthcoming family hatch a BlueMotion makeover - resulting in the greenest Golf yet. Read more ...

PSA Peugeot Citroen president Christian Streiff has signalled "massive production cuts" this fourth quarter "as it is vital that we are correctly positioned to face 2009". Read more ...

Volkswagen said in a statement today that it has no plans to cut either all or a majority of its temporary staff. A German newspaper reported on Thursday that VW planned to lay off most of its temporary workers. Read more ...

Volkswagen plans to cut a majority or all of its 25,000 temporary staff as a response to rapidly deteriorating conditions in the market, Germany's Frankfurter Allgemeine Zeitung reported on Thursday. Read more ...