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Automotive News Feed » U.S. has no timetable to shed auto stakes, task force's Bloom says
The Obama administration hopes the new General Motors will have an initial public offering next year but has no "blueprint" for extricating itself from its ownership stake in the company, auto task force member Ron Bloom told Congress today. [Link]
Automotive News Feed » Ford factory budgets must improve standardization, Hinrichs says
Ford Motor Co. is so intent on standardizing factories and assembly plants worldwide that no money can be spent on plants unless the expenditure improves standardization, Ford manufacturing chief Joe Hinrichs said Tuesday evening. [Link]
msnbc.com: Autos » Closed dealerships may pose warranty hassles
There are 789 fewer Chrysler dealers this week. And by the end of next year, there will be 1,100 fewer General Motors dealers. [Link]
Automotive News Feed » Hitachi develops stronger lithium ion batteries
Japanese electronics giant Hitachi Ltd., which will supply lithium ion batteries to General Motors next year, says it has developed a fourth-generation battery that is 50 percent more powerful than the current version. [Link]
Automotive News Feed » Exports, flexibility help BMW's U.S. plant avoid layoffs
Strong vehicle exports and manufacturing flexibility have allowed BMW's U.S. plant to weather the economic downturn without layoffs or derailing a $750 million expansion, the factory's chief says. [Link]
msnbc.com: Autos » Task force says no more automaker bailouts
President Barack Obama's auto task force told skeptical lawmakers Wednesday the government had no plans to pump more dollars into General Motors and Chrysler. [Link]
msnbc.com: Autos » Chinese automaker may make bid for Volvo
A person briefed on the matter says a Chinese automaker is considering buying Ford Motor Co.'s Volvo unit. [Link]
Automotive News Feed » A Chrysler timeline -- from Daimler's exit to Fiat's purchase
When Italy's Fiat S.p.A. closed its deal with Chrysler today, the U.S. automaker again fell under European ownership after almost two years of control by private equity firm Cerberus Capital Management LP. [Link]
Automotive News Feed » GM reverses decision to close 30 dealerships
General Motors has reversed its decision to wind down about 30 dealerships and is reviewing about 500 more requests from dealerships for a reversal. On May 15, GM sent termination letters to 1,124 dealerships. [Link]
Automotive News Feed » White House welcomes closing of Fiat-Chrysler deal
The White House today welcomed the completion of Italian carmaker Fiat S.p.A.'s takeover of Chrysler and said the new alliance was "poised to emerge as a competitive, viable automaker." [Link]
msnbc.com: Autos » Newsweek: Should we have let Chrysler die?
Why liquidating the automaker might have been a smart thing to do. [Link]
Automotive News Feed » Delphi lenders seek auction for competing bid
Several lenders that provided bankruptcy funding to supplier Delphi Corp. are seeking to make their own competing offer for the auto-parts supplier, their lawyers said today. [Link]
Automotive News Feed » Fiat's Marchionne names Jim Press deputy CEO of new Chrysler
Sergio Marchionne, the Fiat CEO who heads the reborn Chrysler Group LLC, appointed a new management team that retains former President Jim Press and created a brand organization that mimics Fiat's. [Link]
Automotive News Feed » Fiat completes alliance; new Chrysler Group takes shape
Fiat S.p.A. closed its takeover of Chrysler today, sealing the deal on Fiat's ambitious move to create a growing global player amid one of the worst crises in the auto industry's history. [Link]
Automotive News Feed » Renault imports banned from China due to safety concerns
China's quality inspection agency has halted the import of several models made by French carmaker Renault, citing what it called "serious safety risks" and failure to meet technical standards. [Link]
msnbc.com: Autos » RV woes: Thor Industries profit plunges
Recreational vehicle and bus maker Thor Industries reported a 92 percent drop in third-quarter profit as its RV sales were nearly cut in half. [Link]
Automotive News Feed » Lamborghini sees no recovery until 2011
Luxury sports carmaker Lamborghini sees no recovery in its markets until 2011 after a 30 percent drop in sales in the first five months of this year, CEO Stephan Winkelmann said on Wednesday. [Link]
Automotive News Feed » UK economy may exit recession this quarter
British industrial output rose unexpectedly in April and for the first time in more than a year, official data showed on Wednesday, raising the prospect that the economy could exit recession as early as this quarter. [Link]
Automotive News Feed » Valeo wants to recover Morin's 3.2M euro payout
Valeo's annual meeting on Tuesday was marked by controversy as shareholders followed a supervisory recommendation to vote against the awarding of a "golden parachute" to former CEO Thierry Morin. The company will have to try to recover the 3. [Link]
Archive
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About Used Cars Riverside’s Auto News Blog
Used Cars Riverside’s automotive blog provideds news, information and commentary from some of the leading writers in the new and used car sectors of the automotive industries. National and local developments in the new and used car industry can be tracked on this blog. Feel free to email us to suggest an rss feed relevant to the used car and auto broker industries.
Automotive News Feed
- Toyota's hot answer to Honda's CR-Z September 8, 2010Could this be Toyota's riposte to Honda's CR-Z sporty hybrid? Since debuting at January's Tokyo Auto Salon, an open-cockpit sports hybrid concept based on Toyota's MR2 has tantalized buffs yearning for something brawnier in...
- Mitsubishi's chief U.S. supply executive retires, won't be replaced September 8, 2010Mitsubishi Motors Corp.'s top supply chain executive in the United States has retired, and the automaker has no plans to hire a replacement.
- Chrysler expands lease offers under new pact with U.S. Bank September 8, 2010Chrysler Group has taken another step toward reviving its leasing business by signing an agreement to offer leasing through US Bank. The automaker announced the arrangement in an e-mail to dealers today.
- Chevrolet Cruze output begins with expectations high September 8, 2010Ordinarily, it would be a massive undertaking for any automaker. A new model on an all-new platform. A new body shop and new stamping operations. A workforce of 4,500, including 600 temporary employees. Numerous new assembly processes and parts.
- Chevy Cruze rolls off assembly line in red, white and blue September 8, 2010General Motors Co. today celebrated the domestic production launch of its much-anticipated 2011 Chevrolet Cruze in Lordstown, Ohio. GM, which is 61 percent owned by the U.S.
- Volvo's safety reputation should be preserved by its new owners September 8, 2010Volvo needs to protect its reputation. If it stumbles under Chinese ownership, it may be impossible to regain those loyal buyers. If I were a Volvo dealer, I would be concerned.
- The auto rescue, f-bombs, and vanishing billions spice Rattner's inside tale September 8, 2010While there have been other books about the Obama administration, this is the first from the inside and it is full of glimpses behind the curtain that we usually have to wait four years to see.
- Aisin appoints new president of North America operations September 8, 2010Toyota-affiliated supplier Aisin Seiki Co. Ltd. has appointed Masayasu 'Mike' Saito as president of its North American operations, company spokesman Joe Rohatynski said today. Saito's responsibilities include Aisin World Corp.
- Navistar profits top analyst expectations, but outlook lowered September 8, 2010Truck and engine maker Navistar International Corp. posted higher-than-expected quarterly profits on strong sales of armored fighting vehicles to the U.S. military, but overall sales fell short of forecasts.
- Chrysler to expand lease offers under new pact with U.S. Bank September 8, 2010Chrysler Group has taken another step toward reviving its leasing business by signing an agreement to offer leasing through U.S. Bank. The automaker announced the arrangement in an e-mail to dealers today.