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Ford Accuses Japan of Currency Manipulation
2/7/2014Ford Motor Co. says the Japanese government has directly intervened to weaken the country's currency and help its domestic carmakers. "Toyota and [Nissan] said, We need a weaker currency,' and the currency got weaker," declares John Hinrichs, president of Ford's Americas unit, in a bluntly worded speech to the Economic Club of Chicago this week.
Daimler to Lower Sales Incentives, Raise Prices
2/7/2014Daimler AG CEO Dieter Zetsche tells analysts the company will reduce sales incentives on some Mercedes-Benz models and raise prices on others to match growing global demand, Bloomberg News reports.
American Axle Reports 13% Sales Gain
2/7/2014American Axle & Manufacturing Holdings Inc.'s revenue in the fourth quarter of 2013 climbed to $830 million from $737 million a year earlier.
Tata Motors Chairman to Head Company for Now
2/7/2014Tata Motors Ltd. says Chairman Cyrus Mistry will run the company until it can find a replacement for Managing Director Karl Slym, who died in Thailand last week in what police describe as an apparent suicide.
Industry Warned to Curb Driver Distractions
2/7/2014The auto industry faces strong regulations on in-vehicle distractions unless carmakers and suppliers do a better job of policing themselves, says U.S. Sen. Jay Rockefeller (D-W. Va.), who chairs the Senate's Commerce Committee.
Nissan Shows Diesel Pickup Concept
2/6/2014Nissan Motor Co. is testing U.S. consumer interest in diesel-powered midsize pickup trucks with its proof-of-concept Frontier model at the Chicago auto show.
Singapore Curtails Supercar Sales
2/6/2014Demand for ultra-high-priced cars in Singapore has dropped more than 90% in some cases because of government actions spurred by concern about the social inequality in the city-stage, the Financial Times reports.
Kia Reveals Electrified Soul
2/6/2014Kia Motors Corp. will begin selling its first U.S. electric model, the Soul EV, this autumn.
U.S. Trade Gap Narrowed in 2013
2/6/2014America's trade deficit shrank last year to a four-year low of $471.5 billion from $534.7 billion in 2012, according to the U.S. Dept. of Commerce.
Daimler's Quarterly Earnings Jump 45%
2/6/2014Daimler AG reports earnings before interest and taxes of €2.5 billion in October-December, up from €1.7 billion for the same period in 2012.