The news that private equity firm InvestIndustrial will buy a 37.5 percent stake in Aston Martin won't be well received by fans of the brand. They would certainly have preferred to see contender Mahindra and Mahindra or another carmaker sign the deal.
Honda plans to build three variants of its Fit compact, including a sedan version, at its Mexican plant currently under construction. The two other variants are the standard hatchback and a Fit-based crossover, said an executive familiar with the plans.
Fiat-Chrysler CEO Sergio Marchionne, who was re-elected on Friday to head Europe's main carmaking lobby group, is taking his rivalry with Volkswagen AG in their home region overseas. Marchionne is offering $1,000 rebates to current VW owners in the U.S.
The proposed Michigan "right-to-work" law will not apply to existing union contracts, a leading sponsor of the proposal said today. Such an exemption in the measure would likely blunt the its immediate impact on the huge auto industry in the state.
General Motors today is rolling out bigger discounts on full-sized pickups and other vehicles in an effort to slash bloated inventories, which are at their highest levels since before GM’s June 2009 bankruptcy. A GM program that starts today and runs through Jan.
The National Highway Traffic Safety Administration today proposed a rule ordering automakers to put event data recorders, commonly known as black boxes, in all new light vehicles manufactured after September 2014.
Many folks, including some auto executives, have a watchful eye on Washington. There are negotiations under way to avoid looming spending cuts and tax increases. And if Democrats and Republicans in Washington fail to reach a deal to avoid the so-called fiscal cliff on Jan.
Agero Connected Services said it will provide core services for the 2014 Acura RLX luxury sedan's AcuraLink connected-car system this spring. AcuraLink, an online-based system that brings infotainment to drivers, will be delivered through Agero's system.
BMW has appointed veteran executive Karsten Engel to lead sales in China, the company's single biggest market. He will succeed Christoph Stark, who will retire as China head in February after overseeing BMW sales jump about 15-fold over eight years in the country.
China's SAIC plans to set up an assembly plant in Thailand with the local Charoen Pokphand Group to build MG cars for sale in Southeast Asia. The two companies will initially invest 1.8 billion yuan ($289 million) in the joint venture ahead of planned car sales in 2014.
PSA's China joint venture with Changan Automobile plans to produce three Citroen DS models -- the DS5, a three-box sedan and an SUV -- in the country by 2014, according to a Chinese newspaper report. PSA currently imports the DS3, DS4 and DS5 into China.