Headlines for Tuesday, February 21, 2012

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U.S. Honda boss reinstated to parent-company board

The head of American Honda, Tetsuo Iwamura, is being promoted and reinstated as a member of the company's board of directors in June. Read More »


Ford concept hints at design of next light-duty Transit van

Ford will take the wraps off the Tourneo Custom concept next month at the Geneva auto show, a styling exercise that shows the design direction for the redesigned Ford Transit. Read More »


New Mercedes-Benz SL63 AMG revealed

Mercedes-Benz used today's Formula One test session at Barcelona as the backdrop for the unveiling of its latest performance car, the SL63 AMG. Read More »


China's Great Wall opens first EU car plant

Chinese automaker Great Wall Motor has opened its first European factory as part of its strategy to lift sales in the region. The plant in Bulgaria will assemble 50,000 units a year. Read More »


GM, PSA in alliance talks, French minister says; Production tie-up in focus

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. Read More »


Mazda seeks to shore up finances with $2.1 billion stock, loan plan

Mazda plans to raise $2.1 billion to shore up its finances and invest in a new plant in Mexico, financial sources said today -- a bigger-than-expected fund-raising effort that sent its shares tumbling 10 percent. Read More »


Ford bets a turbo V-6 will outgun a V-8 among law-enforcement agencies

Six-cylinder vs. Hemi V-8: How fast is fast? You might be surprised by the results of a 0-60 mph shootout. The Michigan State Police this month released results of its annual police car test, which includes Chevrolet, Ford and Dodge vehicles. Read More »


Dana posts $63 million Q4 profit, hires former Visteon CFO as finance chief

Ohio-based supplier Dana Holding posted a quarterly profit, helped by lower expenses, and said its Chief Financial Officer James Yost will step down in March. The company said it replaced Yost with former Visteon Corp. CFO William Quigley. Read More »


AutoNews Now: Dealing for dealerships

Some big retailers are making multimillion-dollar shopping lists, China policies may favor GM and VW, Consumer Reports endorses smarter cars. Read More »


CAFE correspondence has plenty of bipartisan back-patting

Let the campaigning begin. A bipartisan group of senators sent a letter last week to the federal government’s top auto industry regulators letting the regulators know that the senators endorse the administration’s proposed new corporate average fuel economy standards. Read More »


Rivals gang up on Ford trucks as Ram joins battering

A marketing dogfight has raged for decades among domestic pickup truck makers, where sniping at the competition has been a puerile pastime. But the jabs seem to be coming faster and harder of late, as rivals Chevy and Ram beat up on Ford. Read More »


Driverless car could defy the rules of sprawl

From all reports, the driverless car, once considered in the realm of science fiction, now looms on the transportation horizon. Read More »


Chrysler's Ray Durham wins engineer award

A high-ranking engineer who oversees development of Chrysler Group's lineup of SUVs has been given the 2012 Black Engineer of the Year President's Award by Black Engineer and Information Technology magazine. Read More »


Continental plans first dividend in 4 years as profit gains

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. Read More »

Fiat's Turkish unit reports quarterly profit rise on property sale

Fiat's Turkish unit Tofas said profit in the fourth quarter climbed 9.6 percent, beating estimates, after gains from a property sale. Read More »


India's Mahindra in talks to set up assembly line in Russia

Indian automaker Mahindra & Mahindra is in talks with South Korea's Ssangyong distributor in Russia to set up an assembly line. Read More »


China curbing overcapacity helps GM set goal for doubling deliveries

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. Read More »


First Shift (2/21/12)

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Geely Auto signs car assembly deal with Egypt's GB Auto

China's Geely Automobile has signed a deal for GB Auto to assemble Geely cars in Egypt and distribute them in North Africa. Read More »


Tata will double annual investments in Jaguar Land Rover

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. Read More »

U.S. new vehicles being kept longer than ever, Polk says

American drivers are holding on to their new vehicles longer than ever -- to nearly six years -- a new study says. Research firm Polk, citing data compiled in September 2011, said U.S. consumers kept their new vehicles an average of 71.4 months -- up 4.7 months from March. Read More »


Volvo plans JV to build cars in China

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. Read More »

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