Headlines for Friday, November 16, 2012
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PSA's Saint-Geours tackles big challenges
PSA/Peugeot-Citroen head of brands Frederic Saint-Geours says the company's alliance with General Motors is just one element in the French automaker's restructuring plan. Read More »
GM's Chinese partner predicts sales to outpace industry in 2013
SAIC Motor, the Chinese partner of GM and VW, said its vehicle sales growth will outpace the industry in 2013, driven by an improving economy and buyers shunning Japanese brands. Read More »
VW Group global sales rise 14.6% in October
VW Group's global vehicle sales rose 14.6 percent to 788,700 units in October as strong demand in the United States and China helped to offset a weak European market. Read More »
Fiat doesn't need access to Chrysler's cash, Marchionne says
Fiat, which plans to merge with Chrysler, doesn't need access to its partner's cash, which currently has limits on its use, the chief executive of both companies said. Read More »
European car market shrinkage slows in October
Europe's new car market shrank at a slower pace in October than in recent months, but nearly all major groups still suffered double-digit declines, as consumers showed little inclination to make big-ticket purchases in a slow economy. Read More »
Mercedes ex-U.S. boss Lieb loses wrongful dismissal suit
A German court has rejected a wrongful dismissal lawsuit brought by former Mercedes-Benz USA boss Ernst Lieb against Daimler, which accused the manager of improperly using company money to equip his home. Read More »
China's luxury car demand to boost aluminum usage, Novelis says
Novelis, the largest supplier of flat-rolled aluminum products to the auto industry, expects aluminum usage by carmakers in China to beat estimated annual global growth rates as demand surges for luxury car brands. Read More »
Longtime Toyota exec named Kia Europe COO
Kia Europe has named its UK head, Michael Cole, as its new chief operating officer. Cole, a longtime Toyota executive before he joined Kia, succeeds Paul Philpott as the fast-growing Korean automaker's No. 2-ranking official in Europe. Read More »
