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Ferrari Boosts Product Development Budget 43%
9/11/2013Ferrari SpA will hike its spending on powertrains and vehicle development to $2.7 billion between now and 2017 from $1.9 billion in the previous five years.
No Mini-Buick For Now
9/11/2013General Motors Co., which has floated the idea of a Buick variant of its Opel Adam city car, says the project won't move forward until the just-introduced European minicar gets a major overhaul several years years from now.
IBM, Conti to Develop Cloud-Based Mobility System
9/11/2013Continental AG and International Business Machines Corp. are collaborating to create a global platform that can deliver a wide range of Web-based services to and among vehicles.
GM Ponders a Buick Mini
9/10/2013General Motors Co. says it might develop a Buick version of its Opel Adam city car for the American market but not until the just-introduced European minicar gets a major overhaul perhaps four years from now.
Ford, GM See Their Losses Ending in Europe in 2-3 Years
9/10/2013Ford Motor Co. predicts it will return to full-year profitability in Europe, where it describes the auto market as "running along the bottom," in 2015.
August Car Sales in China Jump 11%
9/10/2013Wholesale deliveries of passenger vehicles in China rose to 1.35 million units in August from 1.21 million a year earlier, according to the China Assn. of Automobile Manufacturers.
Geely, Volvo Debate Plan for Flagship Sedan
9/10/2013Li Shufu, the chairman of Zhejiang Geely Holding Group Co. and Volvo Cars, thinks the Swedish carmaker needs a big rear-drive luxury model for China.
Conti, IBM Partner on Cloud-Based Mobility System
9/10/2013Continental AG and International Business Machines Corp. are partnering to create a global platform that can deliver a wide range of Web-based services to and among vehicles.
U.S. New-Vehicle Fuel Economy Hits a Record High
9/10/2013The average government-rated fuel economy of new cars and light trucks sold in the U.S. in August was a record-high 24.9 mpg, according to the University of Michigan Transportation Research Institute.
Deloitte Auditors Fined €17 Million for MG Rover Snafu
9/10/2013U.K. accounting regulators have fined Deloitte LLP 14 million (€17 million) for failing to meet ethical and public interest standards as auditor and adviser to carmaker MG Rover Group before its collapse in 2005.