Volkswagen brand sales surged in December to push its full-year worldwide volume up 13 percent to a record 5.74 million vehicles, the company said on Friday. VW brand sales jumped 31 percent during the final month of 2012 to 517,900 vehicles.
Honda plans to cut about 800 jobs at its plant in Swindon, southwest England, due to falling demand for its vehicles across Europe. It is the first time Honda has cut jobs in the UK since it began car production there in 1992.
PSA will sign about 5.3 billion euros ($7 billion) in loans for its struggling bank unit in the next week after lenders offered more than originally sought, according to two people with knowledge of the matter.
Vehicle sales in China, including those of cars and buses, may accelerate this year and surpass 20 million units for the first time, the state-backed China Association of Automobile Manufacturers said in a statement in Beijing today.
South Korea's Halla Climate Control has decided to buy Visteon's automotive climate units, almost four months after the American auto-parts supplier announced the plan for combining the businesses to make them more competitive.
With Europe's new car sales set to fall this year to levels not seen since the 1990s, pressure will increase on automakers' revenues and operating margins. Fiat and PSA/Peugeot-Citroen may be the biggest losers in 2013, according to industry observers.