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Ferrari to Unveil Turbocharged California Supercar
2/13/2014Ferrari SpA is replacing the naturally aspirated V-8 in its California two-seater with a thriftier and more powerful turbocharged powerplant this year.
PSA, Dongfeng Agree on Outline for Equity Deal
2/13/2014PSA Peugeot Citroen, China's Dongfeng Motor Group and the French government have agreed on the general elements of a deal to raise as much as €4 billion in fresh capital for the French carmaker, according to unnamed sources quoted by Reuters.
Moody’s Cuts Fiat’s Credit Rating
2/12/2014Moody's Investors Service has lowered its credit rating for Fiat SpA to B1, four notches below investment grade, because of concern about the company disappointing results for 2013.
BMW, Kia Cancel U.S. Shifts As Storms Batter South
2/12/2014Severe winter storms sweeping through the South today prompted BMW AG and Kia Motors Corp. to cancel production late in the day and overnight at their American assembly plants, Automotive News reports.
Giant Sinkhole Swallows 8 Cars at Corvette Museum
2/12/2014A 40-foot-wide sinkhole gobbled up eight historic Corvettes this morning at the National Corvette Museum in Bowling Green, Ky., Automotive News reports.
Industrial Production Falls in Europe
2/12/2014Industrial output, which grew 1.3% across Europe (1.6% in the eurozone) in November, dropped 0.7% in both regions in December, according to Eurostat, the EU's statistical office.
Powertrain Complaints Hurt U.S. Dependability Scores
2/12/2014Complaints about balky transmissions and weak 4-cylinder engines dragged down the industry average in this year's J.D. Power Vehicle Dependability Study.
Ford Sales Soar 53% in China
2/12/2014Ford Motor Co. delivered 94,500 vehicles to dealer in China last month compared with 62,600 in January 2013.
Toyota Recalls 1.9 Million Prius Hybrids Worldwide
2/12/2014A software glitch has prompted Toyota Motor Corp. to recall all 1.9 million of its third-generation Prius hybrids worldwide.
Cadillac Aims for 20% Growth Over Two Years
2/12/2014General Motors Co.'s Cadillac luxury vehicle unit hopes to achieve worldwide sales of about 300,000 units in 2015 compared with 251,000 in 2013, The Detroit News reports.