Headlines for Thursday, February 14, 2013
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GM is confident of Europe turnaround after losses doubled
General Motors reiterated that it expects to break even in Europe by mid-decade after reporting losses in the region that more than doubled. GM said the market will fall further in 2013. Read More »
Fiat wins removal of false 500X image from Geneva show site
Geneva auto show organizers apologized to Fiat after a fake image of the automaker's upcoming 500X crossover was published on the show's Web site. The picture was taken off the site after Fiat complained that the image was not genuine. Read More »
Tata Motors Q3 profit falls as Jaguar Land Rover cash boom shifts into reverse
Hit by falling margins and rising capital expenditure, roaring Jaguar Land Rover may be heading for a speed trap. Read More »
Renault-Nissan, UniCredit create Russia finance venture
Renault-Nissan will create a joint venture with Italian bank UniCredit to sell loans to car buyers in Russia. The alliance will have a 60 percent stake in the venture, while UniCredit will hold 40 percent, the companies said in a joint statement. Read More »
Why Daimler should have more faith in Italy
Daimler is one of the companies bracing itself against Italy's possible exit from the euro. The controversial move comes at a tense time for the country. Read More »
Opel labor talks resume Friday with no end in sight
German labor leaders will return to the negotiating table with Opel for two days of talks starting Friday. Read More »
Renault 2012 earnings beat estimates as debt is eliminated
Renault eliminated debt at its auto manufacturing unit last year for the first time since its tie-up with Nissan. The company said 2012 earnings before interest, taxes and one-time items were 729 million euros, beating analysts' estimates. Read More »
Russian automakers mull luxury brand to rival BMW, Mercedes
Russian automakers are considering their government's desire for a domestic luxury brand to challenge the dominance of Western premium brands such as BMW, Mercedes-Benz and Audi, but they appear cool on the proposal. Read More »
Europe's January car sales offer little hope of recovery
LMC Automotive says it sees little hope of auto sales recovering in Europe this year after registrations in January plunged 9.5 percent. LMC predicted western Europe's full-year sales will drop 4.1 percent this year to 11.27 million, the sixth continual year of decline. Read More »
