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UPDATE: PSA Confirms Talks on €3 Billion Capital Deal
1/20/2014PSA Peugeot Citroen confirms it is in talks with Dongfeng Motor Corp. about a €3 billion capital increase that includes matching equity stakes for the Chinese carmaker and the French government.
Jardine in Pact to Buy 20% Stake in Luxury-Car Distributor in China
1/20/2014Jardine Strategic Holdings Ltd. has agreed to spend HK$5.6 billion ($722 million) for a 20% stake in China's Zhongsheng Group Holdings Ltd., a distributor of luxury-car brands, Bloomberg News reports.
China’s Economic Growth Rate at 14-Year Low
1/20/2014China's gross domestic product expanded at a relatively modest 7.7% in 2013, its slowest pace since 1999, according to the country's National Bureau of Statistics.
China’s Qoros to Unveil 5-Door Hatch at Geneva Show
1/20/2014Qoros Automotive Co. will use the Geneva auto show in March to introduce a five-door hatch version of its Qoros 3 small sedan, Automotive News Europe reports.
Malaysia Eases Restrictions on Foreign Carmakers
1/20/2014Malaysia is lifting rules that have barred foreign carmakers from locally producing vehicles fitted with engines displacing fewer than 1.8 liters, Bloomberg News reports.
GM’s Barra To Get $4.4 Million in 2014
1/20/2014General Motors Co. Chief Executive Officer Mary Barra will receive at least $4.4 million in compensation this year.
Study: 30% of Particulates Formed During Engine Braking
1/20/2014As much as 30% of the particulates in an engine's exhaust are formed when the powerplant is decelerating and not being fueled, according to a seven-member Finnish-Greek research team.
Lexus Adds Variable Combustion
1/20/2014The 5.0-liter, 450-hp V-8 engine in the new Lexus RC F sport coupe uses variable valve timing to switch between Atkinson and Otto combustion cycles.
U.S. Fuel Economy Average Hits Record 24.8 mpg
1/17/2014The fleet average fuel economy for new light-duty vehicles sold in the U.S. in 2013 was a best-ever 24.8 mpg, up by one mile per gallon from 2012, according to the University of Michigan Transportation Research Institute.
BAIC Motor Plans $2 Billion IPO
1/17/2014BAIC Motor Co., the Chinese carmaker that is 12% owned by Daimler AG, plans to raise as much as $2 billion in a Hong Kong initial public offering, Thomson Reuters publication IFR reports.