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VW’s CEO Wants to Head the Group’s Performance, Luxury Brands
9/17/2015Volkswagen Group CEO Matthias Mueller tells Reuters he would like to head the company's Bentley, Bugatti and Porsche units when VW decentralizes its current management structure.
Vietnam Plans Tariff to Slow Imports
9/17/2015Sales of new passenger vehicles in Vietnam surged 62% to 70,000 units through the first eight months of 2015, the Financial Times reports.
KYB Fined for Price Fixing in U.S.
9/17/2015Japan's Kayaba Industry Co. has agreed to plead guilty and pay a $62 million criminal fine for manipulating the price of shock absorbers it sold to six car and motorcycle producers, the U.S.
Fiat-Chrysler Workers to Get Raises, Ratification Bonus
9/16/2015U.S. hourly union workers at Fiat Chrysler Automobiles NV will receive $3,000 bonuses and increases in hourly pay if they ratify the tentative pact worked out between FCA and the United Auto Workers union on Tuesday, according to media reports.
Report: GM Will Pay $900 Million Fine to Settle Federal Ignition-Switch Probe
9/16/2015General Motors Co. will pay a $900 million fine to defer further prosecution by the U.S. Dept. of Justice on criminal charges of defrauding consumers and hiding flaws about its defective ignition switches, sources tell Reuters. General Motors Co. will pay a $900 million fine to defer further prosecution by the U.S.
Hyundai Confirms Plans for New Performance Sub-Brand
9/16/2015Hyundai Motor Co. is preparing to launch a high-performance line in 2017 under a new "N" sub-brand, Albert Biermann, who heads the company's performance operations, tells reporters at the Frankfurt auto show the long-rumored initiative will include a variety of body styles and engines, perhaps including crossover/SUV and hybrid variants.
Dodge Darts with Faulty Transmissions Recalled
9/16/2015Fiat Chrysler Automobiles NV is recalling 27,500 of its 2013-2015 model Dodge Dart small cars to fix dual-clutch transmissions that may spontaneously shift into neutral.
Daimler Confirms Plans for EV to Rival Tesla Sedan
9/16/2015Daimler AG tells Automotive News Europe the company will introduce an electric luxury car in about three years to compete with Tesla Motors Inc.'s Model S sedan.
PSA, Dongfeng to Develop EVs
9/16/2015PSA Peugeot Citroen and China's Dongfeng Motor Group, which holds a 14% stake in the French company, say they will co-develop an electric vehicle and introduce it in 2020.
UPDATE: Suzuki Pays $3.8 Billion Buy Back Volkswagen’s Stake
9/16/2015Suzuki Motor Co. has spent 460 billion yen ($3.8 billion) to buy back 120 million of its shares currently held by Volkswagen AG.