General Motors and PSA are in talks about a possible alliance, PSA CEO Philippe Varin told the French government, following earlier news reports about the discussions. The talks are focused on sharing vehicles and parts.
German supplier Continental plans to pay its first dividend in four years after posting a gain in 2011 profit. The company said the payout of 1.50 euros, will amount in total to about 300 million euros or 24 percent of net income.
China is clamping down on overcapacity in the world's biggest automobile market, benefiting companies with entrenched production and sales, such as General Motors, while hurting newcomers to the market. GM plans to double sales in the country to 5 million units by 2015.
Tata Motors will double investments in its Jaguar Land Rover brands to $2.4 billion a year, even as the Indian automaker warned that it will be a challenge to sustain high margins at its key profit generator.
Volvo Cars will form a carmaking venture with majority shareholder Zhejiang Geely Holding Group, as part of plans to expand in the world's largest vehicle market. Volvo will also introduce a new China-only brand.