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VW May Invite UAW to Organize Tennessee Plant
3/17/2013Volkswagen AG has held discussions with the United Auto Workers union about setting up a Germany-style works council at its assembly plant in Chattanooga, Tenn., which would entail unionizing the facility's workforce.
U.S. Fund Sells €914 Million Volkswagen Stake
3/17/2013Kansas-based fund manager Waddell & Reed Financial Inc. sold nearly 5.8 million preferred shares in Volkswagen AG on Friday for €914 million.
Three Opel Facilities in Germany Ratify Pact
3/17/2013Workers at three Opel facilities in Germany have approved a labor accord that would freeze wages through 2015 and allow the company to shutter a plant in Bochum in 2016.
U.S. Fund Sells $1.2 Billion Volkswagen Stake
3/17/2013Kansas-based fund manager Waddell & Reed Financial Inc. sold nearly 5.8 million preferred shares in Volkswagen AG on Friday for €914 million ($1.2 billion). The stake amounts to 90% of the Waddell & Reed's VW stock and 3.5% of the company's preferred shares.
Seatbelt Retractor Problem Prompts Toyota Recall
3/15/2013Toyota Motor Corp. is recalling 310,000 of its 2007-2013 model FJ Cruiser SUVs because their front seatbelt retractors could come loose.
U.S. Fuel Economy Average Surged in 2012
3/15/2013The average fuel economy of new cars and light trucks sold in the U.S. last year rose more than 6% to 23.8 mpg the biggest one-year jump in 37 years, according to the Environmental Protection Agency.
BMW Boosts Net Profit 4%
3/15/2013BMW AG netted €5.1 billion ($6.6 billion) last year compared with €4.9 billion ($6.4 billion) in 2011.
VW Aims to Boost Output 60% in China
3/15/2013Volkswagen AG plans to increase annual production in China to 4 million vehicles by 2018 from 2.5 million units now.
McCann Takes Over Chevy Ad Agency
3/15/2013New York City-based McCann Worldgroup says it has assumed full ownership of Commonwealth, the Detroit-based joint venture that handles global advertising for General Motors Co.'s Chevrolet brand.
Honda Recalls 250,000 Vehicles for Faulty Brakes
3/15/2013Next month Honda Motor Co. will begin a global recall of about 250,000 vehicles produced in 2004 and 2005 with stability control systems that may spontaneously apply the brakes.