Headlines for Wednesday, May 9, 2012

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Porsche's new baby crossover uncovered, targets younger buyers

2:34 pm U.S. ET | May 9, 2012
The newest Porsche, a baby crossover inspired by the larger Cayenne SUV and a key driver of the automaker's ambitious sales goals, has been spotted uncovered on the roads of Europe.


Porsche CEO to discuss sports car maker's growth ambitions

May 9, 2012 06:01 CET
Porsche's aim to double annual car sales and VW Group's planned takeover of the sports car brand will be in focus when Porsche CEO Matthias Mueller speaks at the upcoming Automotive News Europe Congress.

Tesla losses widen but EV maker lifts 2012 revenue target by $10M

5:16 pm U.S. ET | May 9, 2012
Tesla Motors reported a first-quarter net loss of $89.9 million, worse than its $48.9 million loss last year, as the cost of bringing the Model S electric sedan to market mounted.

Honda wins reversal of small-claims loss over hybrid mileage

12:49 pm U.S. ET | May 9, 2012
Honda won the reversal of a $9,867 small-claims-court loss to a Californian who dropped out of a class-action lawsuit and pursued her own claim that the company overstated the fuel mileage of its Civic Hybrid.

Ford's gearhead gadfly may skip the annual meeting

7:25 am U.S. ET | May 9, 2012
Ford's shareholders meeting has been a less colorful affair since Daniel Karpen stopped attending. After nearly a decade of using the event to get Henry Ford's great grandson to heed his invention, he sat it out last year because its technology had become too costly.

VIDEO: First Shift: GM's stroke of 'Genius'

12:01 am U.S. ET | May 9, 2012
GM takes Apple approach to infotainment system, Toyota sees boom ahead in N.A., BMW solar-panel deal, Corvette pace car.

Ford to triple European output of EcoBoost-equipped vehicles to 480,000

6:00 pm U.S. ET | May 9, 2012
Ford plans to triple annual output of EcoBoost-equipped vehicles built in Europe by 2015. The automaker said today it would boost production to about 480,000 vehicles by 2015 from 141,000 in 2011, and expects to double the number of models offering EcoBoost engines over the same period.

Jaguar F-Type revisits 'Swinging Sixties' to rival Porsche, Mercedes

May 9, 2012 08:34 CET
Jaguar is invoking its iconic E-Type roadster to challenge Porsche and Mercedes with the F-Type two-seat sports car.

Ex-controller who stole $10 million from Pa. Acura store sentenced to 6.5 years

4:21 pm U.S. ET | May 9, 2012
A woman who stole $10.3 million from the Pittsburgh-area Acura dealership where she worked was sentenced today to 6 years in prison. Patricia K. Smith, former controller of Baierl Acura in Pine, Pa.

GM-PSA steering committee meets, plans take shape

3:52 pm U.S. ET | May 9, 2012
GM and PSA Peugeot Citroen are hammering out agreements for the projects they want to tackle together as part of their new global alliance, including expanding the number of vehicles they will build on shared platforms.

VIDEO: AutoNews Now: Moments with Bob Lutz

12:01 am U.S. ET | May 9, 2012
Lutz on why the Volt is a Chevy, what becomes of the internal combustion engine, and what he thinks about supplier relations.

Panel questions how EVs are marketed in U.S.

3:35 pm U.S. ET | May 9, 2012
Electric vehicles marketed for their green benefits or societal reasons will never catch on with American consumers, a panel of EV experts agreed.

Ally Auto's Garroni kicks off F&I Week session on dealers' best F&I practices

12:01 am U.S. ET | May 9, 2012
Ally Auto's Gabe Garroni, who helps create income-developing services for new-car dealers, will lead a signature session as part of Automotive News F&I Week next month.


After April bump, automakers seek better traction in May

12:01 am U.S. ET | May 9, 2012
After a horrid April, the auto industry hopes to get back on the right sales track in May. The right track is the path to 14.5 million sales for the year.

LoJack strives to win space on F&I menus

12:01 am U.S. ET | May 9, 2012
After years of competing with independent insurance agents for access to dealership F&I departments -- not always successfully -- LoJack has decided if you can't lick them, join them.


Capital One hunts new-car loans via dealers

12:01 am U.S. ET | May 9, 2012
Nissan dealer Greg Brown's first loyalty is to Nissan Motor Acceptance Corp. But he says Capital One provides great support to his two greater Los Angeles dealerships.

Ally's financial woes fester after bailout

12:01 am U.S. ET | May 9, 2012
Pressure is increasing on Ally Financial and its government overseers to find a solution to its festering financial problems that date back before its government bailout in 2009.

Toyota forecasts profit will double, reaching highest level in 5 years

May 9, 2012 08:31 CET
Toyota forecasts profit will more than double to a five-year high as it shakes off last year's natural disasters and introduces new models to regain market share. Net income in the three months ended March rose to 121 billion yen, compared with analysts' estimates for 140.


Will buyers like the name Adam for Opel's new Fiat 500 rival?

12:01 am U.S. ET | May 9, 2012
Opel/Vauxhall's decision to name its new minicar Adam has not been well received. Critics called the name "silly" but the car's quality, not its name, likely will decide whether it becomes a successful rival to the Mini and Fiat 500.

Audi outsells BMW in April on China, Germany, U.S. demand

May 9, 2012 12:16 CET
Audi outsold premium-car sales leader BMW for the first time in more than a year in April as high demand in China, Germany and the United States boosted the brand's vehicle sales.

Transmission maker Getrag predicts record 2012 sales

May 9, 2012 14:16 CET
German transmission maker Getrag plans to top last year's record sales of 3 billion euros because of its fast-growing business in Asia.

German automakers, suppliers face more strikes as union demands remain unresolved

May 9, 2012 06:04 CET
The IG Metall union and Germany's industrial employers failed to agree in a fourth round of talks over a pay and hiring dispute that has disrupted carmakers including Opel, Daimler, Audi and Porsche.

Cadillac plans broad dealer, consumer support to launch infotainment system

12:01 am U.S. ET | May 9, 2012
GM is taking a page from Apple's Genius Bar tech-support program as its Cadillac brand rolls out a new infotainment system.


The case for tire plans doesn’t add up

12:01 am U.S. ET | May 9, 2012
If I were a finance and insurance manager, I'd mentally prepare to pitch products to more customers with a low credit rating and low income.


Lenders wax warm on dealer relations

12:01 am U.S. ET | May 9, 2012
Lenders at a conference in Dallas this week paid so many tributes to their dealer relationships that the dealers, had they heard them, probably would have felt all warm and fuzzy.

At GM Financial, leasing is off to slow start

12:01 am U.S. ET | May 9, 2012
GM dealers waiting for leasing to take off will need to wait a little longer. GM Financial has said growth in leasing is a priority and last week reiterated that goal. However, leasing got off to a slow start in the first quarter.

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