Auto News 5

Racing car legend and automotive entrepreneur Roger Penske is a possible bidder for General Motors' Saturn brand, The Wall Street Journal reported this evening on its Web site, citing people familiar with the situation. Full story...

BURNABY, B.C., May 5 - BCAA, BCIT and B.C. Ford Dealers are handing high school students the keys to jumpstart their careers in the automotive repair industry as they team up to reward students for their automotive knowledge and technical skills. The competition is especially relevant during a time when more motorists are fixing their older vehicles instead of buying new ones; in hopes their used automobiles will survive the recession. Full story...

Racing car legend and automotive entrepreneur Roger Penske is a possible bidder for General Motors' Saturn brand, The Wall Street Journal reported this evening on its Web site, citing people familiar with the situation. Full story...

The plight of the automotive industry has dominated not only the business pages of the world's newspapers but also the front pages to such an extent recently, you'd think its performance was the sole barometer for economic recovery. This week Chrysler, GM, Fiat, Honda, Renault grab the headlines. Full story...

GMAC Financial Services has announced that it has entered into an agreement with Chrysler LLC to provide automotive financing products and services to Chrysler dealers and customers. Full story...

CHERRY HILL, N.J., May 1 / -- Subaru of America, Inc., long known for building vehicles well-suited for families, is also building something else - a reputation for generous adoption assistance benefits for its employees. Subaru is ranked #1 in the automotive industry category on the Dave Thomas Foundation for Adoption's "Best Adoption-Friendly Workplaces in America" list, released today. Full story...

You know, it's amazing how German engineers at Mercedes-Benz have a knack for looking forward while keeping a conservative approach. They've become such masters in the art of designing cars that every new product they release is both the expression of the richest automotive tradition in the world and the explosion of advanced technologies. That's exactly what the all-new 2010 Mercedes-Benz E-Class Coupe is about. Full story...

You know, it's amazing how German engineers at Mercedes-Benz have a knack for looking forward while keeping a conservative approach. They've become such masters in the art of designing cars that every new product they release is both the expression of the richest automotive tradition in the world and the explosion of advanced technologies. That's exactly what the all-new 2010 Mercedes-Benz E-Class Coupe is about. Full story...

Is this the automotive industry equivalent of turkeys voting for Christmas or is it something we all know but few are brave enough to actually say out loud? Full story...

General Motors won permission from European Union regulators on Thursday to acquire the steering business of bankrupt automotive parts supplier Delphi Corp. Full story...

The annual Petersen Automotive Museum's fundraising event on May 7 promises to be fun, fun, fun when Beach Boy Brian Wilson and his band take the stage. Full story...

Asbury Automotive Group Inc., coming off its first annual loss since becoming publicly traded, posted a $300,000 profit in the first quarter. The net income compares with a profit of $10.1 million in the first quarter of 2008. Full story...

PORTO, Portugal -- Renault is developing a convertible based on its Twingo minicar, a company executive told Automotive News Europe. Full story...

Group 1 Automotive Inc., the fourth-largest U.S. dealership group, today posted net income of $8.4 million in the first quarter and said it will cut about $120 million from its 2009 operating costs. Full story...

Daimler today posted a net loss of 1.29 million euros for the first quarter. The company said the global financial and economic crisis and the resulting difficult automotive markets have placed a significant burden on its earnings. Full story...

I realize there’s little room for sentimentality in today’s cutthroat world of the automotive business, especially in a recession. Full story...

Times may be tough for automotive suppliers, but not everyone's feeling the pain. French battery producer SAFT had a strong year in 2008, growing sales 4.9 percent, to 609 million euros. SAFT is starting to reap the rewards of a joint venture with U. Full story...

Rival green carmakers Fisker Automotive and Tesla Motors have gone in opposite directions to sell their vehicles. Tesla is trying factory-run dealerships it likens to Apple computer stores. Full story...

Automotive News and co-sponsors Ernst and Young and the Transportation Research Center Inc. honored winners of the 2009 Automotive News PACE Awards on Monday, April 20. Full story...

Sonic Automotive Inc. plans to sell 33 of its 164 dealerships and use the proceeds to reduce its debt. CFO David Cosper said in an interview that Sonic typically disposes of 12 to 15 stores in a year. Full story...