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UPDATE: Nissan to Acquire 34% of Mitsubishi Motors
5/12/2016Nissan Motor Co. has agreed to invest 237 billion yen ($2.2 billion) to gain a controlling 34% stake in troubled Mitsubishi Motors Corp.
Eurozone Factory Output Shrinks Again
5/12/2016Industrial production in the 19-country eurozone shrank 0.8% in March, following a 1.2% decline in February, Eurostat reports.
Toyota Trades New Tundra for High-Mileage Model
5/12/2016Victor Sheppard recently surpassed the 1 million-mile mark in a 2007 Tundra pickup truck and was rewarded by Toyota Motor Corp. with a new 2016 Tundra in exchange for his high-mileage model.
Subaru Maker to Change Name…to Subaru
5/12/2016Fuji Heavy Industries Ltd.—the company that makes Subaru cars—is changing its name to Subaru Corp., effective April 1, 2017.
Nissan, Mitsubishi Motors Confirms Equity Talks
5/12/2016Nissan Motor Co. and Mitsubishi Motors Corp. have confirmed they are discussing a possible Nissan investment that would give the company a controlling 30% stake in MMC.
VW Ready to Open Talks with U.S. Dealers on Diesel Compensation?
5/12/2016Volkswagen AG has agreed to begin negotiations with its U.S. dealers about compensating them for financial damages inflicted upon them by the company’s diesel emission test cheating scandal, dealers tell Automotive.
Subaru Hikes Sales Goal 26%
5/11/2016Fuji Heavy Industries Ltd. has boosted the global sales target for its Subaru brand by 100,000 units to 1.2 million vehicles in fiscal 2020.
Report: Nissan May Buy Controlling Stake in Mitsubishi Motors
5/11/2016Nissan Motor Co. is pondering a move to take control of Mitsubishi Motors Corp. by investing more than 200 billion yen ($1.8 billion) in the beleaguered company, sources tell Japanese broadcaster NHK.
MMC Expands Fuel Economy Ratings Probe
5/11/2016Mitsubishi Motors Corp. says it is investigating whether its cheating on fuel economy ratings for four minicars includes nine other models too.
VW Asks Shareholders to Absolve Its Boards of Wrongdoing
5/11/2016Volkswagen AG is asking shareholders to agree that current and former members of the company’s supervisory and management boards are innocent of any “serious and manifest breaches of duty” associated with VW’s diesel emission cheating scandal.