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Renault-Nissan Finalize Deal to Gain Control of AvtoVAZ
5/3/2012The Renault-Nissan alliance plans by 2014 to form a new venture with Russian Technologies Corp. that will own 74.5% of OAO AvtoVAZ, Russia's largest carmaker.
Auto Sales Dip in France, Tumble in Italy
5/3/2012Sales of passenger and light commercial vehicles in France which plunged 30% year over year in the first three months of 2012 slipped just 1% to 200,800 units in April, according to the country's CCFA carmaker group.
Visteon Swings to a Quarterly Loss
5/3/2012Visteon Corp. posted a $29 million net loss in the January-March period of this year compared with a $39 million profit a year earlier.
Fiat Ends Distribution Deal with Tata
5/3/2012Fiat SpA, whose sales in India have languished for years, says it will end its distribution agreement there with Tata Motors Ltd. and set up its own network of Fiat dealers in the country.
Eurozone Jobless Rate Worst in 13 Years
5/2/2012Unemployment in the 17-member eurozone climbed to 10.9% in March, the worst reading since the currency was introduced in 1999, Eurostat reports.
Daimler Says It Won’t Spin Off Truck Unit
5/2/2012Chief Financial Officer Bodo Uebber tells reporters that Daimler AG has no intention of spinning off its truck unit in the foreseeable future. "We want one Daimler," Uebber declares, saying the car and truck businesses share hybrid systems and other technologies and collaborate on entering emerging markets.
Chrysler to Keep Four Plants Open All Summer
5/2/2012Chrysler Group LLC says four factories in the U.S. and Mexico will keep operating during the normally scheduled two-week summer shutdown as the company scrambles to meet rising demand for its most popular models.
BMW Denies It Plans Slovakia Factory
5/2/2012BMW AG says it has no plans to build an assembly plant in Slovakia.
VW Launches SEAT Brand in China
5/2/2012Volkswagen AG's SEAT brand has begun selling its vehicles in China at eight dealerships that opened last week.
Fuel Economy Rules Could Cut Tax Revenue $57 Billion
5/2/2012The Congressional Budget Office says meeting proposed U.S. rules to double the average fuel economy of new vehicles by 2050 would cut revenue from fuel taxes 13% or $57 billion, between now and 2022.