French supplier Faurecia, the world's biggest maker of car interiors and exhaust systems, confirmed its full-year targets after posting an 8.4 percent gain in quarterly sales, helped by strong demand in North America and Asia.
General Motors, Daimler, BMW, Audi and PSA are counting on China to maintain growth for their premium offerings, although they expect luxury car sales to rise at a slower pace amid higher fuel costs and a decelerating economy.
Automakers led by General Motors and Volkswagen drafted a plan to expedite their parts validation processes as the industry tries to counter a shortage of resin used for making fuel and braking components.
GM CEO Dan Akerson said it will be “a while” before Opel turns a profit, and he wouldn't rule out closing factories as he restructures the automaker's money-losing German unit. He described the carmaker's European operations as a “four-alarm fire.”
Maserati says that the Beijing auto show will be the fourth and final auto-show appearance for its Kubang SUV concept. "After Beijing, we will retire the Kubang concept. Our SUV will reappear in its production form and with its final name in due time," Maserati CEO Harald Wester said.